It is now clear what the new funding for home builders looks like: They will receive a loan from Hypo Landesbank with a term of 35 years and a fixed interest rate of 1.5 percent for the first 20 years, after which it is variable. This was announced by Deputy Governor and Housing Officer Manfred Haimbuchner (FP).
The regulation applies from July 1st, which means that these loans will be paid out from then on. However, they can be applied for immediately. The new conditions can also be applied for loans that were applied for since April 18th and that have been approved.
According to Haimbuchner, the regulation will be in place until the end of 2025. Home builders can therefore secure the low interest rate for 20 years, provided they do not exceed the income limits of the Upper Austrian housing subsidy (50,000 euros net per year per person; 85,000 euros net per year for two people).
Overall, the state is now adding money so that all interested parties get the favorable conditions (no “first come, first served”). This is because the federal budget for the interest subsidies from the housing package announced at the end of February is limited to 4.8 million euros for the next three and a half years. That is enough for around 800 subsidy recipients. The state is expected to pay around 23 million euros for these over the entire 20 years.
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Image: VOLKER WEIHBOLD
Source: Nachrichten
