Housing loans for young people are aimed primarily at marriages. The age of a younger spouse can not exceed 35 years. However, they can also be used by lonely people. The best conditions can count on people with children. In addition, large families are also rewarded. This type of loan can not be counted by people who were already the owners of a flat or a single-family residential building, as well as those who are entitled to a cooperative ownership right to the flat (flat or single-family house). Additionally, the house or flat purchased from the loan amount must be served for at least 5 years from the moment of purchase, so the purchased property can not be sold or rented. Persons who are tenants of a dwelling are obliged within 6 months from the day of concluding the contract to terminate the lease.
Housing loans for young people
The vast majority of housing loans for young people is granted for housing (90%), although the program also includes single-family houses. Purchase in this way you can make a new location straight from the developer or used. Until recently, the loans did not include settlements and houses from the secondary market. This is not the only limitation. The size of the apartment purchased can not exceed 75m2, except for the situation when the apartment is bought by a person or a family with a minimum of 3 children. Then the restaurant can count up to 10m2 more. Another criterion is the price. Limits are announced every three months for three groups of locations – the capital of the province, the commune adjacent to the capital and other cities located in the province. In the case of single-family houses, the maximum area is 100m2.
The amount of any additional payment depends also on several factors. An important issue is the fact of having children. Persons without offspring can count on 10% of the replacement value of the flat, people with at least 1 child at 15%. Additional help is also available if during the next 5 years from the date of contract termination a third or subsequent child (5%) is born. The amount of the surcharge also depends on the indicator in a given region and on the area, with the fact that it is only calculated up to 50m2.
Housing loans for young people are provided by selected banks
They must have a signed contract with BGK (Bank Gospodarstwa Krajowego). Only then can they grant loans with co-financing of own contribution. People who have received a loan of this type do not get money in physical form. As part of the housing loan, the bank assesses whether co-financing is due and on what conditions.
Disadvantage of housing loans for young people
Until recently, the biggest disadvantage of housing loans for young people was the fact that only new premises could be purchased for the money received. In theory, this was to start the financial market. As of September 2015, subsidies are also available for flats from the secondary market, which means that they can also be used by residents of small towns, where it is difficult to find new premises. It is also a matter of dispute that the limits are fixed, which only repeatedly cover only the cheapest apartments.