The law proposal on the New Housing Finance Program was accepted in the General Assembly of the Turkish Grand National Assembly and became a law. The law determines the general framework of the New Housing Finance Program, the limits of the contributions within the scope of the program and the penalty provisions.
Contributions; It will be provided for housing financing for real persons who are evaluated by banks with sufficient solvency and who request contributions.
The amount of the financing installment amount exceeding 30 percent of the household income of the real person in the first three years will be transferred as a contribution from the appropriation scheme to be put into the budget of the Ministry of Treasury and Finance for this purpose. The President will be authorized to set the 30 percent rate between 30 percent and 50 percent, and to reduce the 3-year period to one year.
Reimbursement of contributions
According to the regulation, the designated public bank will notify the Ministry with a summary list of the total contribution amount for the current month within the first five working days of each month.
The Ministry will transfer the requested contribution amount to the bank on the first business day following the 15th of the month in which the notification is made. The transfer day of this contribution and the installment payments regarding the financing will be determined by the banks on the same day.
New Housing Finance Program Enacted
