Sánchez announces that the Council of Ministers will approve 2,500 million in guarantees for housing entry on Tuesday

The measure, scheduled for the end of the month, is brought forward a few weeks, which will benefit young people and families with dependent minors

The President of the Government and Secretary General of the PSOE, Pedro Sánchez, announced this Saturday that the Council of Ministers next Tuesday will approve lines of guarantees of 2,500 million euros through the Official Credit Institute (ICO) to access the entry of the purchase of a home for young people and families with dependent minors.

Sánchez made this advance from Vigo, at a campaign rally for the Galician regional elections that will be held on Sunday, February 18, in which he supported the socialist candidate to preside over the Xunta, José Ramón Gómez Besteiro.

In his speech, the president estimated the funds allocated to this initiative at 2,000 million euros, but socialist sources have specified that it is 2,500 million euros, as the Government had been announcing.

The measure was already known, it was announced for the first time by Sánchez himself in May 2023, at an event in Santa Cruz de Tenerife, in the pre-campaign for the regional and municipal elections on May 28 in which the president chained several announcements about this matter, also the construction of hundreds of thousands of new public housing.

Now Sánchez specifies that the Council of Ministers will approve this Tuesday the opening of the line of guarantees and advances the initial plans of the Executive since just three days ago, the minister of the branch, Isabel Rodríguez, planned to approve this measure at the end of this month .

The leader of the socialists has previously stressed to the 1,600 attendees at the event that this measure will serve to cover that entry "which is what makes it difficult for young people and families in our country to be able to buy a home and be able to get a mortgage." "I say this especially to young people in case you are not aware so that you can get started with it starting next Tuesday," he noted.

In this way, he has indicated that the Government is going to begin to implement the public housing policy that it had been announcing so that young people can emancipate themselves at an earlier age. Sánchez has announced this measure to help the purchase of a home, which complements other measures such as public housing for rent, which the Executive is also committed to, as he has stated.

This line of ICO guarantees is aimed at those under 35 years of age with annual incomes of less than 37,500 euros per year and families with dependent minors for partial coverage of mortgage loans and will respond to around 50,000 people, according to the minister's estimate last Wednesday. Rodriguez. With it, the aim is to "alleviate the lack of prior resources" for access to a mortgage, she noted.