The Canary Islands' Housing Department is inviting public feedback on a new programme called 'Hipoteca Joven de Canarias', aimed at helping young people under the age of 40 buy their first home.
The programme addresses the common problem of not having enough savings for the deposit and closing costs.
This consultation period lasts for fifteen days, during which time citizens and organisations can share their thoughts. They can do this by visiting the Canary Islands Government's Citizen Participation Portal, where all necessary documents are available for review.
The 'Hipoteca Joven de Canarias' programme is specifically for young people up to 40 years old and offers mortgages to cover up to 95% of the home's purchase price, which is higher than the usual 80% limit set by most banks for residents.
Pablo Rodríguez, the councillor leading this initiative, highlighted the housing crisis, stressing that the Canary Islands Government is committed to helping young people access affordable housing.
This programme is part of the government's efforts to tackle the difficulties young Canarians face in moving out on their own, due to high property prices and insufficient savings.
