The highest margin that the creditors will be able to apply in 2023 on state guaranteed loans as part of the First House Program will be 3%. This will be used for loan agreements signed starting with January 1, 2023, IPN reports.

Under a draft decision approved by the Government, the margin of 3% a year will enable the financing banks that take part in the First House Program to cover the costs incurred for a mortgage and to provide loans repayable in at most 25 years, as the legislation provides.

In 2022, the margin applied by banks was similar.

The state-run First House Program was launched in March 2018. Mortgages are currently released through the agency of six commercial banks. Over 8,000 dwellings have been bought within this program so far.