Housing Loan Subsidy Amounts Rise from €130,000 to €200,000
Subsidy Period Extended from 20 to 30 Years
Aiming to increase the number of beneficiaries eligible for participation in the Central Agency for Equal Distribution of Burdens schemes, as well as to raise various amounts, the Parliamentary Refugee Committee initiated discussions on the new regulations submitted to the Parliament on Tuesday.
Specifically, the new regulations increase the housing loan subsidy from €130,000 to €200,000 and extend the subsidy period from 20 to 30 years, while also abolishing income criteria.
In the updated education expenses, costs beyond tuition will be included, such as student maintenance expenses as determined by the Central Agency. Scholarship amounts will not be deducted from the eligible student loan amount.
Additionally, the amount for house repairs has been raised from €50,000 to €100,000. New financing plans have been introduced, including a loan scheme for kitchen renovation and household appliances purchase up to €10,000 and an energy upgrade loan for existing homes up to €15,000.
The scheme’s eligibility has been expanded for financing young entrepreneurs' professional activities. Furthermore, a property used as collateral for a loan, which has been repaid, can be reused in the Central Agency.
It is also provisioned that the amounts for refugee and non-refugee beneficiaries will be the same, with a deduction of 20% to 40% still applicable. Additionally, loan or interest subsidy schemes granted by the Agency will not be cumulatively considered.
For housing applications, whether applicants own another property will not be considered, unless previously approved by the Central Agency for that property.
The base interest rate for direct financing will be decided by the Agency. The imposed interest rate in the case of a loan provided by a financial institution based on the Central Agency's guarantee will be subsidized by 3.5% or a lower percentage.