“We will keep the down payment, otherwise the banks and people who want to get such loans will be put under pressure. As for the age of the apartments, we consider that the 5-year limit will stimulate the construction of new apartments. But we can discuss this limit. We need more homes and the problem won’t be solved just by trading the existing ones. The banks could ask for higher interest rates for older homes bought through First Home program,” the finance minister stated.
Dragu said the ministry is preparing a 5-year strategy for First Home program so that it would provide predictability.
Overall, a total 185,000 people got financing worth EUR7.1 billion via First Home program from the start of the program, in 2009.