Tax concessions and reliefs for young people looking for a home – Ansa /Courier TV
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For those under 35 it will be easier to leave their parents’ home and buy their own thanks to the new resources provided by the government. An advance will no longer be needed to open a mortgage, which can reach up to 100% of the cost, and the State will act as guarantor. The Prime Minister illustrated the NRP, which will be sent to the European Commission to obtain 191.5 billion. “We will help young people to take out a mortgage to buy a house,” Prime Minister Draghi told the House. The National Recovery and Resilience Plan will serve to help the new generations and to support youth and female employment. This measure is yet to be written in detail, but should be added to the tax cuts already in place. In fact, there is the First Home Mortgage Fund, managed by Consap, aimed at under 35 holders of atypical work and young couples. In 6 years, the Fund has accepted 209,500 requests for guarantees, of which 43,613 in 2020 alone. The Italian Banking Association recorded, from 2008 to 2020, a 30% decline in loans to young people. According to the ABI, behind this collapse, there are demographic and employment factors, but the pandemic has changed the trend. In the first quarter of 2021, 26.8% of mortgage applicants are under 35: an increase of + 2.4% in the last 4 years.
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