Unicaja has joined forces with Junta de Extremadura to grant guarantees aimed at facilitating young people's access to buy their first home. This program provides young people up to 35 years of age with up to 95% of the mortgage to buy a property, 15% of which is covered by the 3 million euros of own funds provided by the Extremadura Government, and the remaining 80% is guaranteed by the participating banks.
The agreement was signed by the regional minister of Infrastructure, Transport and Housing, Manuel Martín, and the Head of Commercial Banking of Extremadura, Julio Morales, as well as representatives of other participating entities.
The Aval Joven program, launched by the Junta de Extremadura and managed by the public company Extremadura Avante, is open to young people who are 35 years old at the time of application, who purchase their first home and who use it as their habitual residence for at least five years from the date of purchase. The program does not establish any income limit to be eligible for this guarantee.
Those interested may go to any branch of the participating banks to apply for the grant of this mortgage guarantee. The initial estimation of the regional ministry of Infrastructure, Transport and Housing is a minimum of 200 beneficiaries, depending on the price of purchase and the amount provided initially in any case.
Likewise, Unicaja also reinforces its commitment to young people, aware that the initial downpayment required to buy a home with a conventional mortgage may hinder their access to the property market.
