Announcing #onStart is the government's consequence to the popularity and success of the erstwhile program – Safe Credit 2 percent. Providing financial support for those wishing to buy their first apartment, the fresh program aims to facilitate access to property for young people.
The success of Safe Credit 2 percent.
The Safe Credit program 2 percent, proposed by the Law and Justice Government, enjoyed large popularity. According to the data of the Credit Information Office, it was utilized by over 92 1000 people for a full amount exceeding PLN 27 billion. However, during the electoral run in 2023, the Civic Coalition promised even more favourable conditions by offering a 0 percent interest credit. Now, we have the details of this proposal.
Housing debt #on Start
As with the erstwhile program, the #onStart debt will supply financial support for people buying their first apartment. However, in order to benefit from this programme, candidates must meet certain conditions. The strategy is aimed at persons under the age of 35 who have no real estate. The support offered will depend on household size and income.
Conditions for participation in the Programme
#onStart borrowers must meet respective key criteria to qualify for the program. Firstly, they must be under the age of 35 unless at least 2 persons are members of a household. Secondly, they may not hold any real estate, but in cases where the property they own does not exceed 50 % of the ownership or cooperative ownership right to the premises obtained by inheritance or donation.
Own contribution and guarantees
In order to benefit from the scheme, borrowers must make their own contribution of 20% of the value of the purchased property, but not exceeding PLN 100 000. Bank Gospodarstwa Krajowego will supply guarantees for these loans, which is intended to reduce the hazard to banks and enable the interest rate on mortgage loans to be reduced.
Income and Surface Criterion
In addition to its own contribution, borrowers must meet the income criterion which is based on the first taxation threshold. This limit increases with the number of household members. In addition, it is planned to introduce a surface criterion, specifying the maximum area of the flat that is eligible for the programme.
Payment and Credit
The amount of aid will depend on the size of the household and the number of children there. The government besides proposes different underlying amounts for loans, depending on the location of the property. The #onStart program aims to offer strategy support to people and families who have difficulty gathering their housing needs.
The programme's proposals are presently subject to public consultation, which will run until 19 April. The government plans for the program to enter into force in the second half of this year and to proceed until 2027.
Ignacy Michałowski
OSINT investigator with experience in global journalism projects. It has been publishing materials for over 20 years for the largest releases. In social activities he engaged in various projects and initiatives aimed at improving the quality of life of people, especially those of mediocre communities. He was besides active in the fight for human rights. Contact: kontakt@legaartis.pl
Continued here:
New housing program. He's the heir to Safe Credit.
