One billion eurod to guarantee housing loans

The Government will allot one billion euros to guarantee loans made by young people with a view to purchasing dwellings, announced on Wednesday, PM Emil Boc.
‘The Government approved on Wednesday the programme called ‘First Home’ bound to supporting people who buy a home for the first time and who were not extended a mortgage loan in the past. The sum allotted to this programme is of one billion euros,’ said Boc.
The way of achieving this goal is through the state guarantee and the maximal value of the guaranteed loan is of 60,000 euros. The price is considered average at country level. The law will be implemented within 60 days.
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