PRESS RELEASE

INTESA SANPAOLO: HOUSING PLAN
ACTIONS IN FAVOUR OF FAMILIES AND THE REAL-ESTATE MARKET

• Action to give new boost to the market of new house sales though agreements with customer building companies and the availability of subsidised loan and dedicated services. This will involve 400 residential construction sites in all Italian regions
• Immediate possibility of suspending for one year the payment of the loan principal. The recipients are those who have taken out bank loans for which they have made regular payments for at least three years. They will have access to additional resources to be allocated to other expenses or projects
• No credit limit

Turin/Milan, 4 December 2013 – Intesa Sanpaolo has planned a twofold action in the housing sector. This sector plays a strategic role for Italy’s growth and its economic recovery. 2013 will close with a decline in sales (more than -8%, according to Nomisma). However, this does not mean that the Italians’ desire to own a house has dwindled. Experts’ forecasts show some cautious positive signs, which should be captured and promoted.

Intesa Sanpaolo will take steps therefore both to support its customer building companies by providing new stimulus to the purchase of new houses in selected construction sites and ease the burden for those families that are already duly paying a first-home purchase loan. In Italy, the families that have taken out a loan with Intesa Sanpaolo exceed one million.

According to Carlo Messina, the CEO of Intesa Sanpaolo Group: “This twofold initiative will concern one of the most important sectors for Italy’s economy. The construction sector crisis has particularly affected the housing segment – a key trigger of Italian economy – thus causing sales stagnation. The initiative of Intesa Sanpaolo aims at favouring the contact between demand and supply of new homes and at restoring the confidence in those families wishing to see their housing project come true, by dispelling the present concerns which are conditioning or delaying their choices when it comes to purchases. We want to give a sign of confidence also to the families that are already duly paying their loan and will be able to request easing of their repayment instalment for one year, with positive effects on household expenditure, with a view to a recovery of consumption”.
 
The first action to be implemented – from now to end of February – is targeted to those customers who have taken out a loan with Intesa Sanpaolo or a Group Bank, which may apply for a one-year suspension of the principal amount payment, without any additional costs. For thousands of customers who managed to buy a house with Intesa Sanpaolo’s support and have regularly paid their instalments for at last three years, this means being able to rely on additional resources to be allocated to expenses or projects relating to their family. For example, for a fixed-rate loan amounting on average to €120,000 and taken out 7 years ago, this results in monthly savings of more than €400, coupled with the benefit of the tax deduction applicable to the interest part. Intesa Sanpaolo Group branches - many of which are now open until 8 p.m. and on Saturday morning - will receive applications until 28th February 2014.

The second part of the housing plan, which will be implemented during the first months of 2014, aims at providing a stimulus to the sales of new property, by contributing to a contact between companies and private customers. Intesa Sanpaolo selected 400 Group-funded real-estate initiatives located in all Italian regions, which will soon be completed.
The Group Banks will match the supply of new houses with the families that are interested in buying them through several promotional activities - from the production of advertising material to dedicated events - at Intesa Sanpaolo branches, on the Internet portal, and other specialised Websites. In addition, Intesa Sanpaolo bankers specialising in house loans will be available directly at the construction sites: the closeness of their Bank and of an expert may reassure the customers and help them when planning and choosing a financial solution.
Thanks to the agreement with the customer building companies that are participating in the initiative, Intesa Sanpaolo will provide facilitations to those purchasers taking out a loan by means of modular and flexible solutions and upon dedicated financial terms.

 

 

 

 

 

 

 

 

 

 

For further information:

Intesa Sanpaolo                                                         
Banca dei Territori Media Office and Local Media
Tel. +39 0115556652
Tel. +39 0287962642
stampa@intesasanpaolo.com