The government promotes an aid program for emancipation
The government has launched an initiative for those who wish to live independently. This is an aid program that offers a public guarantee for mortgage costs, covering up to 20% of the total cost. However, to be able to access these aids, you must meet a series of requirements.
Requirements to qualify for aid
The beneficiaries of this program must be people under the age of 35 with incomes below 37,800 euros per year. In addition, the assets cannot exceed 100,000 euros and it is necessary to commit to living in the home for at least 10 years.
Collaboration with banking entities
In order to carry out this program, agreements will be established with the Official Credit Institute (ICO) and it will be each banking entity that will decide whether to grant the mortgage on 100% of the value of the home. This will involve a creditworthiness analysis on the part of the applicants, as well as an assessment of their job stability.
Warranty return term
The beneficiaries will have to return the guarantee money within 10 years. This means that in addition to paying the mortgage fee with the bank, they will also have to deal with the money backing the ICO.
The reality of emancipation in Catalonia
Emancipation is a challenge for many young people in Catalonia. Factors such as employment status, wages or the price of rent make it difficult to live independently. According to a report by the Observatory of Emancipation of the Youth Council, only 20.9% of young Catalans are emancipated, which is above the Spanish average.
It should be noted that women are the ones who leave the family home the most, with a rate of 20.9%, while men do so at 11%. This situation highlights the need for policies that encourage youth emancipation and promote gender equality.
In short, this program of grants for the emancipation of young people offers a new opportunity for those who wish to live independently. With the public guarantee for mortgage expenses, the aim is to facilitate access to housing and promote youth emancipation in Catalonia.