Housing development lending programme
- Altum
- Housing guarantees
- Housing development lending programme
The Housing development lending programme (II stage) got approved on 25 August 2005 by the Cabinet of Ministers resolution No.576 „On Housing development lending programme (II stage) update”, and its implementation was delegated to the Mortgage bank.
The programme seeks to improve the housing lending system by providing support by the state (as a guarantee) to expand credit availability to specific categories of population for dwelling procurement and stimulating renovation of apartment houses.
ALTUM issues housing guarantees to partner banks on loans granted to:
1. tenants of denationalized houses for procurement or construction of dwelling;
2. families with children for procurement or construction of dwelling;
3. apartment houses renovation or reconstruction.
Maximum amount of guarantees: individual housing loans – 15 thousand lats, apartment housing loans – 50 thousand lats. Implementation of the programme was launched in April 2006.
The planned volume of the housing guarantees within this programme have been achieved. Presently no new guarantees are provided.