Allowing also those just starting out in the working world to immediately buy their first home without having to renounce other important projects
• Up to ten years of “light” interest-only instalments
• Fixed-rate blocked for the entire duration of the mortgage loan

Turin, 15 April 2016 - Intesa Sanpaolo launches the new mortgage loan dedicated to people under 35. Thanks a long initial period of “light” instalments, it offers a chance to buy a home also to those just joining the working world. It is a highly innovative solution that sends a strong signal to those young people who often decide to rent and delay buying their first home as they cannot afford to pay the mortgage loan instalments while having enough funds for other projects at the same time. Instead, this is the perfect time to seize the double opportunity posed by the drop in house prices and mortgage loans rates proposed by Intesa Sanpaolo, which have never been lower.

The structure of the new young-person mortgage loan includes up to 10 years of “light” interest-only instalments, without missing out on the tax deductions for loans to buy the principal residence. This is to be added to the possibility of blocking, immediately and for the entire duration of the mortgage loan, a fixed-rate that is among the lowest ever offered by the market, starting at 1.45%.

Accessing a mortgage at these conditions means you would pay an instalment that could be even lower than if you were renting, thus instantly becoming the owner of your home, which would be purchased at the falling prices of recent years while saving money for other life and work projects. In practise, a young person who buys a house at 150,000 euro may obtain the whole amount with a fixed-rate mortgage loan equal to 100% of the value, with conditions starting from 2.70% for a 30 year duration, paying 338 euro a month, compared to an average mortgage of 608 euro.

The offer completes the facilities gradually introduced by Intesa Sanpaolo to allow young people, including atypical workers and those “with increasing protection”, to purchase a home with a mortgage loan: the possibility of financing up to 100% of the value of the residence, lasting up to 40 years, free option to suspend for six months and for three times the payment of the instalments, free option to extend or shorten the duration by a maximum of 10 years.

The opening and flexibility choices made by Intesa Sanpaolo in the housing sector allowed the Bank to disburse EUR 10Bn in mortgage loans during 2015, of which 2Bn to people under 35. In Italy, the Group is currently the main market operator, with a share of 23.5% in 2015 and growing further.

For information

Intesa Sanpaolo 
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