The Spanish government approves the provision of guarantees for 20% of the mortgage

The Council of Ministers of the Spanish government has given the green light to a line of ICO guarantees that covers up to twenty % of mortgage loans for families with minor children and young people up to the age of 35, and to finance the promotion of some 43,000 affordable public rental homes with EUR 4,000 million from European funds.

The Minister of Transport, Mobility and Urban Agenda, Raquel Sánchez, has stated that it is aimed at “youth and families with the desire and willingness to buy a house, who have the solvency and financial capacity to do so, but who do not have the necessary savings to pay the booking requested by the bank”.

With the new rule, it will be the ICO that guarantees that part that the banks are asking for, namely 20%, although it can be up to 25% If the house has energy label D.

These notes No will have cost for the beneficiaries and can be applied for until December 31, 2025, renewable for another two years.

Applicants must have an income of less than 4.5 times the Iprem and double if a couple.

If they have minor dependent children, each child increases by 0.3% and 70% plus the income limit in single-parent families.

Similarly, this Tuesday the green light was given to the plan to promote an additional 20,000 homes Ministry of Defense land through the Public Land Business Entity, Sepes.

Sánchez explained at a press conference that the estimated value of this “very ambitious” operation is €620 million and has emphasized that it is intended to “mobilize all available Defense lands to form the public park” of housing.