The Regional Government of Castilla y León today presented the balance of the Mi primera vivienda guarantee facility, whose goal is to facilitate access to home ownership for young people in the region. Unicaja, together with 11 other financial institutions, has participated in this initiative since mid-2023. So far 317 mortgages have been signed thanks to this guarantee program, 23% through Unicaja.
The presentation of this review was attended by the Regional Minister of Environment, Housing and Territorial Planning, Juan Carlos Suárez Quiñones. Representing Unicaja was the regional manager of Commercial Banking for Castilla y León Sur, Manuel Rubio.
This line of guarantees facilitates the purchase of free-sale or subsidized housing in any municipality for young people up to 35 years of age with an income level up to 5 times the IPREM, and it covers homes whose purchase price does not exceed 240,000 euros.
Mortgage loans, with this guarantee, can reach up to 97.5% of the price of the property, as opposed to the general 80%.
The guarantee is compatible with any other aid for the acquisition of housing, provided that it does not exceed 100% of the cost of the transaction and that it is permitted by the regulations governing the aid and EU law. The aid must be used in any case for the total or partial amortization of the guaranteed mortgage loan.
For each financing transaction, the Junta guarantees a percentage of the transaction to the financial entity. The said percentage is applied to the principal amount pending payment at any given time. The Regional Ministry of Environment, Housing and Territorial Planning has issued 1,633 positive certificates to young people who met the conditions to access this line of guarantees, which have resulted in the 317 mortgages granted so far.
The Junta de Castilla y León will guarantee the financing of up to 17.5% of the price of the property, a percentage that is added to the mortgage loan granted by the banks which, at the most, can reach 80% of the price of the property. With this guarantee of the Junta, young people up to 35 years of age who want to buy their first home will only need to have 2.5% of the value of the property for the down payment.
Those interested in this line of guarantees, in force during 2024, must submit to Somacyl (Sociedad Pública de Medio Ambiente de Castilla y León) the request for certification of compliance with the requirements.
