Between January 2015 and June 2017, the "Home Guarantee Fund", institute from the Ministry of Economy and Finance, made operational through a protocol of understanding with Abi (Italian Banking Association) and which sees the cooperation of 174 banks and Financial intermediaries adhering to the initiative, received 35.051 requests for access to state guarantees to trigger the mortgage, of which 29.734 was admitted. At June 30, the value of mortgages with the guarantee of this instrument was over 3,4 billion.
In the first semester of 2017, the Fund received 15.758 questions, a peak which was possible thanks to the better knowledge of the instrument and the signs of economic recovery that are reflected in the real estate sector as well. In May and June, applications for first-time mortgage warranties exceeded monthly 3.200, plus 100 questions per day.
The Guarantee Fund, with a total of 650 million euros, confirms a useful access to credit for the purchase of the main home. To date, requests have mainly come from young people under the age of 35 (about 63%), although there are no age limits to be able to take advantage of.
Mef and Abi point out that the Fund represents an important example of collaboration between banks and public institutions serving the families aspiring to buy the main home. Banks using the Guarantees of the Fund may not require additional guarantees, in addition to mortgages.
The First Home Guarantee Fund provides for collateral to cover 50% of the mortgage share (up to EUR 250.000) disbursed for purchase (also with restructuring and energy efficiency enhancement), Of the first homes. The guarantee may be claimed for the purchase of immovable property of any size, provided that it is not luxurious, by subjects with no income limit and age which, at the date of submission of the application, are not the owners of other residential buildings, except Those received by succession or being used free of charge by parents or brothers.
The Home Guarantee Fund, as well as the Solidarity Fund for the suspension of mortgage rates targeting families in financial difficulties, was the subject of the #casaconviene campaign (http://www.mef.gov.it/casaconviene /) Realized by the MEF with the collaboration of all the other public and private institutions involved.
174 banks and financial intermediaries participating in the Guarantee Fund (representing more than 70% in terms of bank branches) are committed to promoting widespread information on the initiative. The list can be consulted at Consap's website, the Public Insurance Services Dealer, which manages the Fund (http://www.consap.it/media/2473/20170208-listeto-aderenti.pdf) from which you can also download The application form.