The new line of emancipation loans will begin on June 30th, providing financial assistance for young people up to 35 years old to purchase their first home.
These loans are designed for young individuals who can afford a mortgage but do not have enough savings for the down payment. The loans will cover up to 20% of the property value (with a cap of 50,000 euros), while the remaining 80% will be provided by affiliated banking institutions such as Arquite, Banco Sabadell, Bankinter, BBVA, Caixabank, Imagine, Caixa Enginys, Caixa Guissona, and Kutxa. Efforts are being made to include Santander Bank in the program before the launch.
Borrowers will not pay interest on these loans and will not have to repay the principal until they have fully paid off their mortgage. The maximum repayment term is 30 years, and after the mortgage is settled, borrowers will have five years to repay the emancipation loan.
Properties financed through this program will be permanently protected (HPO).
To apply for these loans, individuals must register in Catalonia and be between 18 and 35 years old. The property being purchased must be the applicant’s first and become their primary residence. The gross annual income of all residents (including minors and non-loan applicants) cannot exceed 6.5 times the Sufficient Income Indicator of Catalonia (IRSC).
The government, through the Catalonia Housing Agency, will allocate 500 million euros over five years for this initiative.
For more information and to apply, visit the Catalan Finance Institute’s website. Once approved by the ICF, applicants must contact one of the participating entities to apply for a mortgage with a maximum repayment period of 30 years and the agreed-upon terms between the institution and the client.
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