Will there be loans for first-time homebuyers? Vice President Yılmaz explains

Vice President Cevdet Yılmaz answered questions from members of the press following the Cabinet Meeting held at the Presidential Complex. Regarding a question about the Bill on the Establishment of the Family and Youth Fund, Yılmaz stated, "It will first start as a pilot application in the earthquake zone. Then it will spread across all of Turkey. In particular, it includes a mechanism to support young people with what we call a marriage loan of 150 thousand liras, with a 4-year term and a two-year grace period. In the future, as funds and resources increase, other forms of support will of course be possible, but it will proceed in stages."

LOANS FOR HOMEBUYERS

Responding to a question about providing loans to first-time homebuyers, Yılmaz said the following:

"As you know, the Central Bank and the BRSA have made access to credit more difficult for second and third home purchases. We are ensuring access to credit for first-time home purchases. We had said we would make a regulation there, and we have done so in this way. There is now hardly any loan opportunity for second and third home purchases. When there is no loan opportunity for second and third homes, housing loan opportunities are being used for first-time homeownership. The issue of homeownership should be considered not only in terms of credit but also in terms of housing supply. In the form of housing supply and housing demand... Otherwise, if you only think about credit, there is a possibility of driving housing prices to levels you do not want. We need to manage housing supply and housing demand in a balanced way."

News Source: 12punto