The Housing Department of the Canary Islands has launched a prior public consultation on the approval of the regulatory initiative aimed at regulating the 'Youth Mortgage of the Canary Islands' program. This measure seeks to facilitate young people's access to the ownership of their first home, at a time when the lack of initial savings is one of the main barriers to emancipation.
The objective of this consultation, which will be open for a period of fifteen calendar days, is to gather the opinion of citizens and organizations interested in and affected by the future regulations. The consultation is carried out through the Citizen Participation Portal of the Government of the Canary Islands, where the necessary documents will be made available so that any person or entity can express their opinion.
The 'Youth Mortgage of the Canary Islands' program aims to provide financing to young people up to 40 years of age who wish to acquire their first home. The program seeks to cover up to 95% of the purchase price of the home, exceeding the usual limit of 80% that financial institutions usually offer.
In this line, the councilor responsible for the area, Pablo Rodríguez, has insisted that "in the midst of a housing emergency, the Government of the Canary Islands is committed to public policies that facilitate young people's access to decent housing.
This initiative is part of the Executive's efforts to offer solutions to the growing difficulty of young people in the Canary Islands to become independent due to the high prices of housing and the lack of initial savings."
With this consultation, the Canary Islands Executive reaffirms its commitment to citizen participation and transparency in the decision-making process. All interested parties will be able to express their opinion on the initiative on the Citizen Participation Portal of the Government of the Canary Islands during the established period, through this link: