The President of the Government of Catalonia, Salvador Illa, announced today that from next Monday Emancipation Loans will be extended to age 40, under the programme jointly run by the Institut Català de Finances (ICF) and the Agència de l'Habitatge de Catalunya (AHC). The age limit rises from 35 to 40 with the aim of broadening the number of people who can benefit from the scheme.

At an event held at the ICF and in conversation with two loan beneficiaries, the President described this as a "positive step forward", explaining that it will allow young people up to the age of 40 to "access the loan with a cap of €50,000 and repay it over 30 years at zero interest" to buy their first home. All of this, he said, "to reach people who have a life project ahead of them and who, simply, cannot access homeownership because they have not had time to build up savings".

In this context, the President stressed that Catalonia is the autonomous community that "does the most on housing", while acknowledging that supply must continue to grow. "Of course, we are doing that", he added. He noted the need for "not only market-rate housing, but above all housing for the most vulnerable people, protected housing", which he recalled the Govern is already delivering. He also noted that the Govern is "working to generate land to build 214,000 homes over the coming years". Finally, he referred to the Pla de Barris i Ciutats and to market intervention measures such as the Llei d'Habitatge and rent caps, which are being taken forward by the Govern and "point to us moving in the right direction".

President Illa spoke with two young beneficiaries — one of whom bought a home in Barcelona and another in Santa Perpètua de Mogoda — and, prior to the event, visited the Institut Català de Finances facilities, accompanied by Minister Romero, the Secretary General of the Ministry and Chair of the ICF Board of Directors, Juli Fernández, and the ICF Chief Executive Officer, Vanessa Servera.

Minister Romero: "The warm reception of the Loans shows it was a good bet"

The Minister for Economy and Finance, Alícia Romero, gave a very positive assessment of the first months of operation of the Emancipation Loans and highlighted that their warm reception among young people shows that it "was a good bet". She underlined the innovative and pioneering nature of this financial instrument and expressed her gratitude for "the boldness and courage" of the ICF team in taking forward this unprecedented project.

During her address, she also noted that the average amount of loans granted stands at around €36,000, for homes with an average price of €190,000, and that the young people who have been able to buy their first home thanks to this scheme have an average age of 29. This means, she concluded, that "we are lowering the age at which young people in Catalonia become independent".

Further updates to the Emancipation Loans

The updated programme rules also introduce changes for the purchase of parking spaces and storage units, and make it easier to access the loan for newly built flats. From now on, the programme can also finance the purchase of parking spaces and storage units located in the same building as the home, even if they are not part of the same registered property.

In addition, it will be possible to formalise the loan to purchase a newly built flat even when, at the time of signing, the property does not yet have a definitive cadastral reference. The new option to sign the loan using only the property's registered data removes a barrier that previously could block the purchase process.

1,698 young people have bought their first home with the programme's help

Since its launch eleven months ago, the Emancipation Loans have already facilitated the purchase of 1,158 homes across Catalonia, with the support of the private financial institutions that have joined the scheme. In total, 1,698 young people have accessed their first owner-occupied home thanks to this initiative, according to the latest data compiled by the ICF.

The average Emancipation Loan amount signed to date is €36,342, while the average price of homes purchased stands at €189,834. The average age of beneficiaries is 29.6 years.

The geographical distribution of loans granted by the ICF broadly reflects the population weight of each vegueria. Barcelona accounts for more than half of all loans signed (55.9%), followed by Comarques Gironines (10.7%), Penedès (9.4%), Camp de Tarragona (7.9%), Catalunya Central (6.7%), Ponent (5.0%), Terres de l'Ebre (3.5%) and Alt Pirineu i Aran (0.8%).

Up to €50,000 interest-free for the down payment

The programme, managed by the ICF and funded with an annual budget of €100 million from the AHC, was created to address one of the main obstacles young people face when buying their first home: the down payment. The Emancipation Loans finance 20% of the property's value — the portion that banks typically do not cover — up to a maximum of €50,000. They are also interest-free, and repayments do not begin until the mortgage has been fully paid off, with a maximum term of 30 years.

By joining the programme, the property permanently acquires the status of officially protected housing (habitatge amb protecció oficial, HPO) at a permanently capped price, meaning that a series of conditions must be met in the event of a future sale or rental.

Eligibility requirements

With the new extension, Emancipation Loans can be applied for by people aged between 18 and 40 registered as residents in Catalonia who wish to purchase their first owner-occupied home, which must become their primary residence. The combined gross annual income of all people who will live in the property may not exceed 6.5 times the IRSC: €83,392.53 for a single person and €85,971.60 for two people. Applicants must also have no significant outstanding debts or unpaid obligations.

The property may be newly built or second-hand, but must meet four conditions: it must be located in Catalonia, hold a valid certificate of habitability at the time of purchase, not previously be classified as HPO, and not be under construction or at the project stage.

Loans are applied for through the ICF website

Purchasing a home through this programme involves two complementary loans. First, applicants must apply for the Emancipation Loan through the ICF website to finance the down payment. If the ICF approves the application, the applicant must then contact one of the banks that have joined the scheme to apply for a conventional mortgage covering the remainder of the purchase price. The financial institutions participating in the programme are Abanca, Arquia, Banc Sabadell, Banco Santander, BBVA, Bankinter, CaixaBank and imagin, Caixa Enginyers, CaixaGuissona, Kutxabank, LABORAL Kutxa and UCI.