Unicaja has joined the line of guarantees offered by the Ministry of Housing and Urban Agenda, through the Official Credit Institute (ICO), for the acquisition of first homes by young people and families with dependent children.
The adhesion to this line of guarantees, which will facilitate access to a habitual and permanent residence for young people up to 35 years of age and families with dependent minors, is endowed with 2,500 million euros.
This line of guarantees is aimed at people who, although they are financially solvent, do not yet have sufficient savings capacity to be able to purchase their first home.
According to this agreement, the amount of the mortgage loan granted by the bank allows 100% of the financing of the property, which may be equal to the appraised value or the purchase price -whichever is lower-, provided that the required conditions are met.
Thus, the guarantee may cover up to 20% of the loan amount, reaching up to 25% in those cases in which the property acquired has an energy rating of D or higher (letters A, B or C).
The guarantee will be free of charge both for the purchasers of the property and for the financial institutions, which are in charge of analyzing each of the operations. In fact, the loans will be formalized directly between the client and the bank. The granting of the operation is subject to approval by Unicaja.
The term to formalize loans under this line of guarantees will end on 31 December 2025, with the possibility of extending the agreement until December 2027.
Conditions
The Ministries of Housing and Urban Agenda and of Economy, Trade and Enterprise last April entered into the agreement that regulates the conditions and operation of this line of guarantees. According to this agreement, this measure is aimed at people whose income does not exceed 37,800 euros gross per year (4.5 times the Public Multiple Effect Income Indicator -IPREM-).
In addition, the measure includes some improvement factors: the limit established according to the IPREM will be increased by 0.3 times (2,520 euros gross per year) for each dependent child and, in addition, in the case of a single-parent family, this limit may be increased by an additional 70%. On the other hand, buyers may not have a net worth of more than 100,000 euros in order to benefit from the guarantee.
Support by Unicaja
The purchase of a first home is one of the most important investment decisions in anyone's life. Aware of the difficulty that this acquisition may entail, Unicaja offers measures to mitigate this effort.
In addition to other actions, the entity, as a proof of its social commitment, has joined the programs of several autonomous communities for the granting of guarantees aimed at facilitating the access of young people to their first home of their own.
