Restructuring loan for public employees and pensioners
The renovation of the house is a fundamental operation not only for the conservation of the property but also to improve the quality of one’s life. In order to facilitate public employees and pensioners to face the costs for the renovation of the home, the Social Institute Public Employee Management issues the Government Agency first home renovation loan.
This is a loan with subsidized conditions which falls into the category of multi-year loans. Targeted products that are granted by Social Institute exclusively to meet specific purposes.
Purposes that are indicated in the Government Agency Loan Regulations, present in Pdf format on the official Social Institute website. Among the purposes allowed for Social Institute ex Government Agency multi-year loans there is one related to the renovation of the home.
Conditions for restructuring loans Ines ex Government Agency
It is possible to request a multi-year loan to deal with building renovation, extraordinary maintenance, conservative restoration or restoration of the home. The maximum amount that can be financed is 100 thousand USD. However, it is not possible to obtain a sum greater than the estimated costs.
The repayment plan instead extends for 10 years and provides monthly installments of a constant amount. As regards the interest rate, it is fixed at 3.5%. However, the beneficiary of the financing also has to face administration costs. Charges that are calculated with the application of a rate of 0.5% on the gross amount of the loan.
Requirements and application
But who can get the Government Agency first home renovation loan? Like all multi-year loans, this loan is accessible only to those who are registered in the Unitary Management of the credit and social benefits of Social Institute.
Employees and pensioners belonging to the public sector are included in the audience. For the purposes of access to credit, however, the employee must be able to count on an indefinite-term employment contract. The presence of at least four years of service useful to the pension and a contribution payment to the Unitary Management of not less than four years is also required.
The application must be sent electronically, using the appropriate forms. The request form can be downloaded directly from the official Social Institute website in PDF format.
To the Government Agency first home renovation loan application it is necessary to attach:
- Document certifying the ownership of the house.
- Declaration drawn up by the works manager stating that the works are in progress.
- Estimated metric calculation issued by a construction company (on headed paper) or by a professional registered in the relevant professional register.
- Start of work report (DIA), certified start of activity report (SCIA) or building permit, when required.
- Self-certification of the family status.
- Self-certification attesting that the property being renovated is the only one owned by the applicant and the other members of his family.