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EC Asks Romania For Information On „First House” Program In Routine Procedure

The European Commission has recently asked Romanian authorities for information on the "First Home" program, EC spokesperson Jonathan Todd said Thursday, adding that it was just a routine procedure.
EC Asks Romania For Information On
09 iul. 2009, 13:23, English

Todd said the Commission knew about the program and the information request does not mean that there might be a problem. "It is a routine procedure," he added.

The government launched a program to guarantee the loans contracted for the purchase or the construction of a dwelling, within the maximum limit of EUR60,000. The guarantee is granted to people buying their first home and who did not previously benefit from a mortgage loan.

The government received offers from 20 banks with a total value of more than EUR1.4 billion for the “First Home” program, but the total funds alloted in 2009 for the program were limited at EUR1 billion.

This week, the government will sign the loan guarantee agreements with all the participant banks. Current data show that more than 25% of the requests for mortgage loans guaranteed by the state in the "First Home" program aim at buying a new dwelling, according to the Romanian government officials.