The Government program provides a Government Home Loan Guarantee for young people who do not pay IMT and Stamp Duty when purchasing their own permanent home, as outlined in the AD Selective Scheme.
In a document published this Wednesday, the PSD/CDS-PP government led by Luís Montenegro states that “too many young people do not see Portugal as part of their future” and that integrated policies are needed, including promoting access to Corpus.
Among the measures presented is the provision of a “state guarantee allowing a bank to finance the entire cost of buying a first home for young people” without specifying age.
Thus, when a bank issues a loan to a young person to purchase their first home, the state provides a guarantee for the loan. If this person does not fulfill his obligations, it is the government that repays the loan to the bank.
The government will also exempt young people under 35 from paying onerous council tax (IMT) and stamp duty when buying their own permanent home.
These measures were already included in the electoral program with which the Democratic Alliance (an electoral coalition between PSD, CDS-PP and PPM) presented itself in the legislative elections.
The government program, announced this Wednesday, does not indicate the financial implications of these measures.
In the document, the government says it will also increase the scope of the Porta 65 program within the scope of its application, without providing further information.
The program of the XXIV Constitutional Government was presented this Wednesday by the Minister of Parliamentary Affairs, Pedro Duarte, to the President of the Assembly of the Republic, José Pedro Aguiar-Branco.
The document is not put to a vote in the Assembly of the Republic, but only evaluated, but parliamentary groups can make proposals to reject the program, the approval of which requires an “absolute majority of current deputies.”
Only after the Assembly of the Republic has assessed its program will the government begin to exercise its functions in full, and until then it must confine itself to “the practice of acts strictly necessary to ensure the management of public affairs.”
Author: Lusa
Source: CM Jornal
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