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Families with offspring aged up to 23 years to become eligible to aid under Latvian government's housing program
BC, Riga, 21.02.2018.
Print version
Print versionThe eligibility criteria for the state aid to first-time home buyers in Latvia will be expanded, enabling families with offspring aged up to 23 years to participate in the government housing program, Economics Minister Arvils Aseradens (Unity) said at a news conference on February 20th, cites LETA.
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At present
only families with children aged under 18 years can apply for the
state-guaranteed mortgage loans to buy their first home.
The Latvian development finance institution Altum will
be supplying the state guarantees at 10-20 percent of the loan amount depending
on the number of children in the family.
Aseradens said that the housing program had been
successful as more than 7,300 families had received state aid totaling over EUR
50 million so far.
In addition, young professionals under the age of 35
years will also be able to apply for the state aid under the program for
first-time home buyers. They will be able to get a state guarantee for 20
percent of the loan amount which must not exceed EUR 50,000.
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