Own housing gives us a sense of security and facilities. The problem is that many young families cannot afford it from their income. An overpriced mortgage may be an obstacle, or applicants usually do not meet the conditions. Does the state really try to support the housing of Czech families? This and much more will be discussed in this article. Why is a loan for young people so profitable?
State loan for young people in recent years
In recent years, youth loans have not been very successful. In 2017, only 31 applications are registered and in 2016 even 14 less. The main reason was low interest rates, so it was worth taking a mortgage. Another disadvantage was that you can take a loan from the state only up to a maximum of 600 000 crowns.
Loan for young families 2018
The year 2018 came from many changes, the most striking is that you can receive from the state up to 2 000 000 crowns for housing. Previously, the amount was only up to 50% of costs, now it will be up to 80% We can look forward to:
1) Loan for the modernization of an apartment up to CZK 300,000 (maturity up to 10 years)
2) Loan for the purchase of an apartment up to CZK 1,200,000
3) loan for construction or purchase of a family house up to 2 000 000 CZK (maturity up to 20 years)
A youth loan from the state, is it worth it?
You are interested in the new interest rate. The state loan for young people should be up to 1.75%, which is very convenient for fixation up to 20 years.
Loan for young people – conditions
In previous years it was a condition that one of the partners must be under the age of 36 and at the same time you had to take care of a child under 6 years of age. This year it is different. If a spouse applies for a loan, or registered partners do not have to have a child, but if the spouses do not, the child is a necessity.