AKP Bill on ‘New Housing Finance Program’

According to the bill submitted to the Presidency of the Grand National Assembly of Turkey; To guarantee that citizens can make contributions at a certain level of their income during the first 3 years, it is expected that the Treasury will make a contribution on the condition that it be reimbursed, and that the contractor will make a non-refundable contribution. Within the scope of the program, it was expected to authorize the president to determine characteristics such as interest rate, dividend, maturity, amount of financing and restrictions on household income.

A regulation is also being prepared to offer a flexible payment plan by banks to citizens who do not want to benefit from the Treasury contribution under the program. Cash resources will be transferred to banks through a public bank to be determined by the president to contribute to housing finance installments provided by banks to facilitate housing finance installment payments from real persons who are citizens of the Republic of Turkey. The Ministry of Finance will be authorized to add allocations to existing or newly opened schemes in the budget of the Ministry of Finance for the transfer of resources.

Housing aid can be used until December 31, 2023. The President will be authorized to extend the term until December 31, 2024. (DHA)