New mortgage aid for young people: what it is and requirements for applying for it

Nueva ayuda hipoteca a jóvenes

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In the vast majority of people’s plans, buying a house to be able to live in dignity is part of their plans; However, in recent years, access to the real estate market in order to acquire a property has become complicated due to the fact that prices have been increasing exponentially; However, the state has launched a new mortgage assistance programme for young people;

What is the young person’s mortgage aid

The new young mortgage assistance is a government programme that has been designed to provide financial support to young people who wish to buy their first home; This programme has been enthusiastically received throughout Spain as it offers a number of advantages and opportunities for those wishing to take the step towards home ownership;

The main objective of the new young mortgage assistance is to make the dream of owning a home more accessible to young Spaniards;

It is not really aid, only that the government acts as guarantor when taking out a loan; Normally, banks will grant a mortgage of up to 80% of the house price; Then, the government, through the Official Credit Institute (ICO) contributes up to 20%, allowing young people to have a mortgage of 100% of the price of the house; Therefore, the buyer would only have to contribute about 10% of his savings to cover the taxes involved in this transaction;

Requirements for applying for the new young mortgage aid;

In order to be eligible for this new aid, it is important to meet a number of requirements; These have been established to ensure that the programme reaches those who really need it and can benefit from it; Below, we detail the requirements that must be met to apply for this new mortgage assistance for young people:

In order to be eligible for mortgage support for young people, all applicants must be between 18 and 35 years of age; This programme is specifically aimed at young people who are in the early stages of their careers and wish to set up in a home of their own;


Another requirement established by the government is that beneficiaries must be Spanish citizens and reside in Spain;

Maximum income

One of the key aspects to qualify is the level of income; The programme establishes income limits to be eligible for this new aid, which are as follows:

  • In general, a limit of €25,200.00 per year, spread over 14 payments, is established;
  • For large families, a limit of €33,600.00 per year is established, spread over 14 payments;
  • Finally, for special large families and persons with a certain degree of disability, the limit will be €42,000.00 per year, spread over 14 payments;

New mortgage aid for young people

Home ownership

The new mortgage assistance for young people is designed for the purchase of the first home of those interested; Therefore, it is compulsory not to be the owner of any property at the time of applying for assistance; In addition, in the case of receiving the aid, the property must be used as the main residence;

As for the price of the property, the State sets a limit of €100,000 as the maximum purchase price; The amount of the aid will be equivalent to 20% of the price of the property, with a maximum of €10,800;

Financial profile

Although the support is intended for young people who do not have the capital and income to buy a home, applicants must have a financially sound profile; In other words, beneficiaries must have a favourable credit history, with no outstanding debts;

In short, the new young mortgage assistance is a valuable opportunity for young Spaniards who wish to take the step towards home ownership; Meeting the requirements and carefully following the application process will allow you to access the benefits of this programme and become a first-time homeowner; At Edwards Estate we have an extensive catalogue of houses for sale in Frigiliana and be able to take advantage of this government aid;

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