It’s a tough time for everyone, and buying a house for a more stable future is now a pipe dream: that’s one of the many reasons why this year the state introduced the possibility of an 80% first mortgage.
When we talked about the facilitation between the different proposals, the possibility of a 100% mortgage pushed a lot but the maneuver would have been too risky and expensive, so the Draghi government found itself forced to lower the bar. with a value percentage of 20%. .
The first mortgage is still one of the most discussed subjects of this period: if on the one hand we are talking about the finance law for next year and a forthcoming pension reform, on the other it is impossible not to mention the situation of young people as well.
Youth unemployment in Italy increased by 1.8% in September (Istat data reported by LaRepubblica.it), which is why we can talk a lot about retirement but if the problem of job instability is not solved it seems really difficult to imagine a future retirement for the new generations.
In our culture, buying a house is one of the most natural ways to feel “secure” as you develop your career, but today, for many young people between the ages of 20 and 30, the word “stability” is so. far from the concepts of family, home and children becoming values far removed from everyday life, almost like inaccessible utopias.
For years, it has become impossible for many families to afford the purchase of a roof for the future of their children. On the one hand, therefore, the problem of precarious work for young people, minimum wages that do not allow these investments, on the other hand the rise in family anxiety. They find themselves facing children who move from one unstable situation to another with a fluctuating tendency, which leads to mistrust of the future.
The State gives confidence to young people, 80% first mortgage for under 36 years old
With the subsidy of the first mortgage, the State gives hope even to the youngest by providing 80% of the total amount by guaranteeing. But before talking about the news for 2022, let’s try to understand the details of a first mortgage, who it is for, how it is requested and which are the most convenient banking establishments.
Subsequently we will also see what are the latest innovations proposed by the government for the following year, not only with regard to the first mortgage but also with regard to the rental sector. Concretely, in 2022, the Draghi government will insert in the new finance law a provision allowing to grant discounts also on rents for the youngest.
The initiative presented months ago was that of a home loan 100% reserved for under 35s: a strategy that would have made young people feel more protected. The fund managed by the Consap and the growth decree of 100 million would have been added to the European money allocated to the recovery, but 100% did not manage to pass. The expense would have been barely bearable for a nation already too much in debt.
First home loan what is it and who can apply for it
First of all with a first mortgage, we mean the loan that the bank gives to allow the customer to buy a property. The latter must be the buyer’s main residence, therefore the “first house”.
“Prima” in the sense therefore not of a property purchased for the first time but of the property in which it will then be necessary to transfer its residence within 12 months of the purchase. To benefit from a first mortgage, it is necessary not to own any other property for residential use or in any case used as a first home.
Concretely, it is not easy to obtain a loan of this kind but with the help of the State until next year it will be much easier than expected.
First of all another good bought by the same person must not be present on the national territory benefiting from concessions for the first housing.
After that the good must be bought by a natural person and not by companies or businesses, and must be located within national borders.
Besides it should not fall under the cadastral category of luxury properties or the category into which fall castles, palaces of artistic and historical value, villas, properties, elements such as swimming pools of certain dimensions or outdoor space of a certain perimeter; in short, it must be a property located in a building, a simple apartment both in the city and in the suburbs.
Among the other limitations for the first mortgage, there is, as mentioned previously, that of have to transfer their residence to the same municipality where the property is located and, if this is not already the usual situation, the change of residence it must be carried out within 18 months of the signing of the purchase contract.
THEIn addition, the house should not exceed the total sum of 250 thousand euros regardless of the area or neighborhood in which it is located. This means that with a facility such as the first mortgage you will not be able to buy a house in Parioli (this is the case if you want to buy a house using the facility offered by the state).
The declaration of the first mortgage and therefore of the desire to establish residence in the municipality where the property is located must be transcribed in the act of purchase itself.
The concessions on buying the first home do not stop at those we have just listed. Indeed, tax deductions are envisaged which allow you to recover part of the incidental costs that arise during the part of the sale and mortgage process., as well as part of the interest paid to the bank during the amortization.
A list of additional costs to the mortgage is added to the subsidy of the first mortgage, but can be deducted. That is to say bank investigation costs, notary fees relating to the stipulation of the loan contract and the substitution tax.
There is the possibility of deducting up to 19% of the interest due on the mortgage up to a maximum amount of 4000 thousand which provides an excellent annual saving, albeit minimal, of 760 euros.
The government has decided to come to an agreement with Consap, a subsidy on the first mortgage which is aimed at the youngest presenting themselves as guarantor up to 80% of the total amount of the cost of housing, but let’s see more precisely how it works and especially until it is possible to apply.
First youth housing loan, the advantage for those under 36 what it brings
Already for 2020, the Consap has made funds available to allow the State to facilitate the purchase of a first home for younger customers. This is the Under 36 segment, more specifically young couples and single-parent families with minor children, to which are added those who already live alone but perhaps rented out.
What is good about the facility is that it is aimed at young people with atypical and unstable employment contracts.. In this case, different requirements are required when applying for a first home loan.
The person requesting the facility must not be the owner or usufructuary of other property for residential purposes and must never have benefited from a bonus for the first mortgage for young people. The other general limitations for the first mortgage remain, but in this case, in order to be able to access the fund, a specific request must be made. As also explained by mutuionline.it the applicant’s isee must not exceed 40 thousand euros eitherotherwise he will not be able to benefit from the assistance of the guarantor State.
First home loan for young people, how to apply
As explained by repubblicadeglistagisti.it, those who wish to submit the request will be able to do so through the request form for access to the first domestic fund that will be made available to the client in all banks participating in the initiative. To date, the Consap site has around 215 member banks.
As part of the initiative, there are credit institutions such as Intesa Sanpaolo but also Crédit Agricole and others, that allow young people to access total funding, therefore covering not only 80% of the sum, of which the State is guarantor, but also the remainder 20% of the total value of the property.
The most convenient bank is Intesa Sanpaolo. Assuming a property of 180 thousand euros with a mortgage of 120 thousand and a term of 30 years there is the possibility of a Tan 1.15% and a Taeg 1.24%. It therefore allows you to benefit from the elimination of preliminary costs, a flexibility of free duration, a free suspension of down payments and promotional prices.
I recommend watching this video uploaded to Youtube from Yuri Giuliani’s channel “
How to get the first 100% mortgage
To be able to apply for a 100% mortgage, exceeding the 80% grant, you need to consider additional requirements and guarantees. The main ones are reported by mutuimarket.it and consist of surety covering the 20% share of the value of the loan that exceeds 80% guaranteed by the State, mortgage registration on a second building and pledge on government bonds with a value of 20%. The real advantage lies in the fact that, thanks to the State, no deposit has to be paid on the total amount obtained.
First real estate loan and rents, the news of 2022
The buying aspect of the house is not the only one encouraged by the Maneuver.
As La Repubblica explains, the new budget law introduced a deduction for rents. “Young people aged 20 to 31 are entitled, during the first four years, to a gross tax deduction equal to 20% of the amount of the rent., so it was stipulated.
Total income must not exceed € 15,493.71, and applies to the entire property unit as well as to the rental of a single room. The deduction ceiling corresponds to 2400 euros.
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