Extremadura increases age limit for housing guarantee program

The regional government of Extremadura will raise the age limit for the 'Aval Joven' program to 40 years. This measure extends the eligibility for the housing guarantee, which allows individuals to secure mortgages for up to 95% of a property's value, compared to the 80% typically financed by banks.

Laura Castell Vivas, Secretary General of the Ministry of Infrastructure, Transport, and Housing, announced the change during a budget hearing. The regional government will allocate 3.75 million euros to expand the program. In addition to the age limit increase, the program will now include new beneficiary groups, such as large families, single-parent families, and people with disabilities.

The 'Aval Joven' program, launched in June 2024, provides a public guarantee of up to 15% of the property value to assist those with sufficient income but insufficient savings for the initial down payment.