The Balearic Government that presides over the popular Marga Prohens Duplicate up to 30 million the budget of its guarantee plan for young men and increases the price of real estate that can be accepted to this measure up to 382,000 euros.
The president announced this Wednesday after the signing of a new agreement with the representatives of different banking entities and stressed that this new edition of the program tries to “focus” in Young people up to 40, single -parent families, large families, people with disabilities or with disabled in charge.
The vice president of the Government and Minister of Economics, Finance and Innovation, Antoni Costaexplained that these 30 million guarantees are Duplicate the budget of the previous programso he expects to be folded »the number of beneficiaries that until now has been around 500 people.
Prohens has presided over the act of signature with collaborating financial entities, among which are Caixabank, Caixa Colony and Cajamar. “Balearic Islands have new generations of young people trained, with capacity, talent and employment, which are limited when emancipating or starting their life project due to the difficulties in accessing their own home,” he said.
Therefore, he has assured that the Government launches all possible measures to “change the course” of the situation of the housing in the Balearic Islands.
In this sense, changes have been introduced to especially benefit young people up to 40 years and give them the best conditions. This group has been the largest beneficiary of this Ibavi aid system to facilitate the purchase of the first home, so that they will receive guarantees of up to 20% of the value of the house by the administration and thus be able to cover 100% of the mortgage.
For the rest of the applicants, of other ages and profiles, the guarantee will be 15%. The granting of the IBAVI guarantee is conditioned to the granting of the mortgage loan by the financial entity, which must be financed from 80% to a maximum of 100% of the housing acquisition value, depending on the regulations and the regime applicable to each entity.
Together with Prohens, the act of accession of the three financial entities to the new conditions of the New Mortgage Program, has had the presence of the vice president and Minister of Economics, Finance and Innovation, Antoni Costathe Minister of Housing, Territory and Mobility, José Luis Mateo, and representatives of each financial entity.
Thus, by the banks have been the territorial director of Caixabank in the Balearic Islands, Maria Cruz Rivera, the general director of Colony, Gabriel Bauzáand the territorial director of Cajamar, Jaume Julià. It has also been signed with the president of the Chamber of Commerce of Mallorca, Eduard Sorianoas a collaborating entity in the development of the program.
Requirements
So far, through this program, The IBAVI has approved 499 guaranteesof which 418 have been in Mallorca, 62 in Menorca and 19 in Ibiza. As for operations with each financial entity, 202 correspond to CaixaBank199 a Colonya Caixa d’Estalvis from Pollença and 98 to Cajamar Caja Rural, according to data until the end of last February.
Before finishing 2024, in mid -December, the Government approved the agreement to continue the program, given that the deadline for submitting applications ended on December 31 and extended the deadlines for requesting and formalization of loans until February 2028.
In order to access this program, a series of requirements for applicants are maintained. These requirements include the need to prove a Continuous or discontinuous residence in the Balearic Islands over a minimum of five yearsthat the house is destined at the usual and permanent home of the applicants, and that these are not owners of any other home, with certain exceptions as until now.
Likewise, to benefit from the program, the income set of the applicants cannot exceed the limit of 6.5 times the public indicator of multiple effects income (IPREM) weighted with the autonomous coefficient. This is about 61,000 euros for a borrower and just over 68,000 euros for two or more borrowers, according to the IPREM of 2023 and if one takes into account that the amount is updated annually.
Among the conditions of the program, it is also established that the financing operations must be organized through a mortgage loan contract financed with funds from the financial entity and that the financial entity may not require the hiring of any additional bank product or service for the granting of the mortgage loan.
