May 25, 2024

First-Time Home Buyers Apply to Banks for State Support
State support of up to 15 thousand liras is given to those who want to own a house, provided that they open a housing account and do not leave for 3 years.

This big step taken for those who want to support their first and only house purchases varies according to the determination of the progress payment period, the period of savings and payment plans. With the change in the state contribution rate and the maximum amount, the state subsidy applications for first-time homebuyers have been continuing since 2015.

Applications to banks for the “housing account” application have been increasing due to the increase in housing projects recently.

Together with the housing account, it is planned to provide a state contribution of up to 20 percent to the savings created by the citizens to buy a house. Although the said contribution will not exceed 15 thousand liras, it is planned to contribute to those who want to own a house through social assistance with this support.

The Ministry of Family and Social Policies announced 2016 data on social benefits. Accordingly, a total of 32 billion TL social assistance was provided in 2016. A total of 3 million 154 thousand households benefited from these aids. It is stated that this number will increase with 2017.

General conditions regarding government support and housing account are wondered by many investors. Accordingly, the accounts must be opened in TL at the domestic branches of the banks. It is required that the person who will open a housing account does not have a title deed that belongs to him. A person can only open one residential account. It is not possible to transfer the housing account from the bank where it was opened to another bank.

From this point of view, it is necessary to underline the importance of trust in banks regarding the situation in question. It is very important for people who want to open a housing account to do research while choosing the bank they will open an account with. After the account is opened, it is necessary to stay in the system for at least 3 years by making regular payments. It is stated that the more savings in the account, the higher the state aid will be. It is important to work with a reliable and customer-oriented bank, as banks are obliged to give all kinds of information about housing accounts to the Board of Treasury Controllers.

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