• Fri. Oct 22nd, 2021

Support decree bis, first home and youth mortgage: the news


May 10, 2021

The Sostegni bis decree brings good news to those who have to buy a property: it promises, in fact, the possibility of buying a house without more taxes. This important novelty, explains laleggepertutti.it, will benefit especially young people between 25 and 35 who seek their independence from their parents. Three interventions planned until the end of 2022 that change the cards on the table as regards the tax part of the purchase of a property: exemption from registration, mortgage and cadastral taxes on deeds of sale, bare ownership and usufruct for those under 36 and not buying a luxury home; the exemption from the substitute tax on the loan deed; the possibility of benefiting from a tax credit in the event that VAT is paid on the value of the house. The credit can be used in compensation, in the tax return or on the registration tax for subsequent acts of donation or inheritance.It should be specified, precisely on the question of VAT, that when you buy the house directly from the company, the value added tax must always be paid as it is a Community tax. However, young people can have significant savings by benefiting from the subsequent tax credit which, in some way, ‘returns’ the VAT paid. Buying a house with the benefits of the Sostegni-bis decree also means saving from the notary: signing of the deeds signed by the professional are destined to decrease by 50%. In any case, any expenses of the real estate agency and the mortgage investigation would have to be borne. Speaking of mortgage: here another big news is expected for young people who have to buy a house. This is the possibility of accessing 100% financing without the obligation to pay 20% of the capital. For this purpose, the Government will allocate 55 million euros to the Fund for first home mortgages managed by Consap, a Fund that allows you to have a guarantee from the State on access to financing when the installment-income ratio is not sufficient and moreover at a controlled rate. Not only that: this possibility will be given to all young people under 36 years of age and not only to young couples or to those who have an atypical job. The government’s intention is to increase the state guarantee from the current 50% of the loan amount to 70-80%. The aim is to give banks additional reasons to grant young people 100% mortgages and not to stop at 80% (whatever happens) .But be careful: if the government wants to make this move to give young people the the opportunity to have a 100% mortgage more easily will also have to check under what conditions it is disbursed by the bank: there are, in fact, the institutions available to grant the loan above 80% of the value of the property, but raising the rates of interest. Which means having all the money for the sale but at a much higher price. What would be the convenience at this point?