Parliament passed the law that caps interest rates on active loans offered through the First House program after giving it a second reading. This way, the rise in interest rate will not exceed 4 percentage points for a consecutive period of six months and 6 percentage points for 12 consecutive months, IPN reports.
By the same bill, the authorities aim to alleviate the negative effects of the rise in the reference indexes used to set the highest interest rate within the First House program. Following the implementation of the measure proposed by the Government, the rise in interest will be reduced by 1.35 percentage points or by about one quarter of the applicable rise according to the initial conditions stipulated by the program.
The law will take effect when it is published in the Official Gazette and will apply also to loans provided by that date.
On Wednesday, the Government approved the decision to compensate in the amount of up to 50% the rise in interest rates on the loans provided as part of the First House program. The subsidy will be paid monthly to persons who on June 30, 2022 were beneficiaries of the First House program. It will be calculated and paid for July 2022 - December 2022.
