This year's version of the "First Home" governmental scheme,designed to encourage the building of homes, has so far seen onlytwo loans granted for this purpose.
At the same time, both the number and the value of loans grantedfor old homes have fallen by 40% against last year. Bankers have inthe seven months since the start of the "First Home 2" schemegranted around 11,500 state-guaranteed loans amounting to anoverall 460 million euros, with the entire previous scheme having asimilar duration. The value of loans granted accounts for 65% ofthe 700 million-euro guarantee cap approved for this year.
The National Credit Guarantee Fund, the institution that managesthe guarantees granted by the state as part of the scheme, analysedan average of 80 application documents per day in September andOctober, compared with a daily average of 120 applications in thefirst few months of 2010 and as much as 140-150 applications perday in the autumn of last year.
The number of applications analysed has been falling steadily sincesummer amid the worsening of the economic situation, as well asbecause the revision of the scheme has failed to meet expectations,with the scheme continuing to act only as an incentive to buy oldhomes.
Until the beginning of November, the Fund had recorded five claimsfor damages in the case of loans that had becomenon-performing.
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