For years, many youth organizations have been loudly warning about the worrisome housing problem for young people. In order to make the path to their own home easier for young people, NLB created a customized range of housing loans, provided young people with free counseling and provided them with special financial assistance in the first steps of repaying the loan. Hundreds of young people who will take out a housing loan by November 30 will be reimbursed three installments of loan repayments.
NLB observes that today young people are relatively late in becoming interested in housing credit. They often start their independent life in a rented property, but high rents encourage them to think about their own real estate, as they find that for the value of the monthly rent in Ljubljana they can get a loan that would enable them to buy an equivalent or even larger apartment.
Housing credit also for temporary employees
When realizing the desire to own an apartment, young people quickly encounter obstacles, which are not always insurmountable. "Young people are often convinced that they cannot get a home loan without a permanent job, and they are pleasantly surprised that this is not an obstacle. They can also get credit with a fixed-term contract, we just have to make sure that the job is stable enough." points out Tanja Vidmar, financial advisor at NLB.
The bank notices that young people may sometimes have a little unrealistic expectations regarding real estate values and your creditworthiness. The most important thing here is counseling, which guides young people through the entire process of buying a property and taking out a loan. It is very helpful for young people free manual, and the bankers also try to show them alternative options that they may not have thought of themselves.
How can banks help young people solve the housing problem?In terms of creditworthiness, bank advisors help young people understand why conditions are necessary and consider how high a debt burden will they be able to live with. They are many stricter conditions of the Bank of Slovenia dissuaded from solving the housing issue, but Vidmar reassures young people that "It's not as impossible as it seems at first glance. Above all, it is important that they contact the bank so that together we can check the conditions and we can meet the young people even with regard to the amount of the loan."
Combination of insurance with parents' real estate
They are also often a problem for young people housing loan insurance. "Young people do not yet have a property of sufficient value to secure a housing loan. We try to solve this by combining insurance with the parents' real estate. After a certain period, we look and if the young people's property is worth enough to secure the remaining credit, we can withdraw the mortgage on the parents' property. According to our experience, parents like this and it is easier for them to decide to help." says Tanja Vidmar.
Insurance with the future value of the property
Vidmar also mentions the possibility of financing a "turnkey house", which are increasingly popular also due to the possibility of energy-saving passive construction: "At NLB, we cooperate with selected providers of turnkey houses. The future value of the property is taken into account in the housing loan for the construction of these. In the past, when approving construction credit, we only considered the value of the land, which was tangible at the time, but now we also take into account the value of the future house that will stand on this land."
To own real estate with the help of the bank
Although the path to owning your own property is challenging, it does not mean that it is closed to young people. Vidmar also advises young people to they don't just rely on informational calculations online, which is often the first step in the search for real estate for young people. "Many times customers are surprised when we prepare an individual offer for them, which can be much more favorable than the one they saw online. We may also advise them of a different maturity of the credit. The advantage of young people is definitely that they can get a home loan for up to 30 years, which on the one hand makes repayment easier, and on the other hand, they can therefore get a higher credit." advises Vidmarjeva.
"For many problems, even if they seem insoluble to young people, a solution can be found. Financial advisors are here to solve these problems. That's why we invite young people to book a consultation at the bank as soon as possible, even before they seriously think about buying real estate. They may soon be able to save enough to make it easier to get credit after a while. At the moment, NLB also has a special campaign for young people, within the framework of which we will give away three installments of credit to hundreds of borrowers, as we notice that this means the most to young people, especially at the beginning of repayment." Tanja Vidmar encourages young people to turn to banks when solving the housing problem.
#Okvir Aid for young families
