Parliament have a final reading to the draft law that eliminates a series of barriers to financing for purchasing housing through the “First House” Program. Persons who do not have the status of employee but have official income obtained in the Republic of Moldova, such as freelancers, lawyers, bailiffs, taxi drivers or artists, will also be able to apply to the program, IPN reports.

The legislative initiative increases the loan limit from 1 million to 2.5 million lei and the state loan guarantee from 50% to 65% or 70% for homes located outside the municipality of Chisinau. It also extends the lending period from 25 to 30 years. The legislation will provide that the beneficiary will be able to use the home purchased under the program only for his/her own use or together with the family members and must have permanent residence in that home until the mortgage loan is repaid.

People who own homes of up to 50 square meters will be able to participate repeatedly in the program to purchase a larger home. A series of procedures for accessing the program were simplified. Those who are already beneficiaries of the program will be able to change their lending bank and negotiate more advantageous conditions. At the same time, it will no longer be necessary to present certificates regarding the owned homes, issued by the Public Services Agency. The provision regarding the pledging of the home in favor of the state was excluded. This will eliminate the need to conclude trilateral mortgage contracts and will facilitate the administration of the Program during the implementation.