New guarantees for first-time buyers

Banks who give mortgages to first-time home buyers will in future be able to get government credit guarantees, according to plans announced by Finance Markets Minister Mats Odell on Thursday.

The proposal, to be included in the forthcoming budget, is intended to make it easier for people to get a foot on the housing ladder. The government would guarantee the first 100,000 kronor of a person’s mortgage.

“This could be for youngsters who are leaving home or for people newly arrived in the country, who once they have their feet on the ground want to buy their first home. It could also be people who have lived in rented accommodation for 20 or 30 years and decide to buy a house,” Odell said.

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