Dear variable rate mortgages, the Region’s aid to 20 thousand Sicilian families

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By John

The notice is ready, it will be published by December 20th. And it will allow the Sicilian Region to grant cnon-repayable contributions to reduce interest on variable rate mortgages for at least 20 thousand families, perhaps even 22 thousand, according to the first calculations of the Department of Economy. All thanks to new clauses that have just been finalized and which go beyond the approval of the law at the Ars which allocated the budget of 50 million. A measure with a strong social impact.

Last Friday the Councilor for Economy, Marco Falcone, signed the decree that creates the fund into which to load the available 50 million. Irfis will manage it and the Region’s credit institute itself is finalizing the tender. The details of which, however, are already contained in the decree. Let’s see what the essential points are.

Change the aid ceiling

There is substantial news compared to what was announced almost a month ago. The financing will not cover the extra 3% increase. The first hypothesis was in fact to oblige those who apply to demonstrate that they have suffered an increase in the variable rate of more than 3% in 2022 and 2023. And only the amount beyond this threshold would be reimbursed by the Region. Now, however, the ceiling of the contribution to support families changes.

3 thousand euros to each family

And here’s how the announcement changes everything. «The 3% threshold falls – explains the Councilor for Economy Marco Falcone – and this means that any percentage increase will be financed. However, within a maximum limit that will be worth 1,500 euros per family for each year.” It means that if a family demonstrates any increase in the rate recorded in 2022 compared to 2021 and this year compared to last year, they will be able to have up to 1,500 euros for two years, therefore 3 thousand euros.
According to the department’s calculations, the 50 million budget allows, by providing the maximum or almost everyone, to finance no less than 20 thousand applications.

The income limit

The requirement of the ISEE model of less than 30 thousand euros remains unchanged: above this income threshold it will not be possible to contribute to contributions. The fact that these are non-repayable contributions also remains unchanged. The other requirements are the traditional ones: to participate in the tender you must be an Italian citizen residing in Sicily and be the holder or co-holder of a variable rate mortgage intended for the purchase of your first home.

The questions

For the publication of the notice, all that remains is for Irfis to perfect the IT platform which will have to receive the applications electronically. It is a key step given that the announcement provides only two ways of drawing up the ranking: «The applications – we read in the decree – will be sorted by increasing value of the ISEE parameter of 2023 and, subordinately, in the event of a tie in this value by chronological order of submission of the application”. Therefore, when the notice is published shortly before Christmas, it is necessary to submit the application quickly.

Only solution

The contribution – we read again in the decree signed by councilor Marco Falcone – will be paid in a single solution to the current account of those who applied. «It means – calculates the representative of the Schifani Council – that predictably in February each family will receive a bank transfer which can be worth up to 3 thousand euros».

Priority commitment

The call to reduce the cost of variable rate mortgages, which has skyrocketed due to the war and the energy crisis, is one of the main measures of the Schifani government in this first year of the legislature. «We are respecting one of the main commitments made by our Council – concludes Falcone –, that of supporting families in one of the most difficult moments from an economic point of view. And it is not the only measure in favor of families, the next Budget will contain new measures in this sense.”