The state will subsidize the rise in interest rates on loans provided as part of the First House program. To diminish the impact of the higher interest and to reduce the risk of payment incapacity among program beneficiaries, the Government approved the decision to compensate the rise in interest in the amount of up to 50%, IPN reports.
This way, the subsidy will be paid monthly to persons who on June 30, 2022 were beneficiaries of the First House program. The subsidy will be calculated and paid for July 2022 - December 2022.
The subsidy paid from the state budget to a beneficiary will be calculated as from July 1, 2022 in the amount of up to 50% of the rise in the interest calculated based on the loan balance.
The subsidy for July will be transferred in August 2022, after the given Government decision starts to be applied. If the mortgage is repaid in advance, the subsidy stops to be paid the month coming after the month the last rate is paid.
Also, the Government approved the decision to allocate 42 million lei from the Reserve Fund for covering these costs.
