Within the framework of the new housing finance program, the Law on Amending the Law on the Regulation of Public Finance and Debt Management was submitted to the Presidency of the Assembly. Within the framework of the new financing program, cash resources will be transferred to the banks participating in the system through a public bank to be determined later, in order to facilitate the housing finance installment payments.
With the law proposal, the President is authorized to determine the limits on interest rate, profit share, maturity, financing price and household income within the scope of the program.
The public bank will be determined by the President.
According to the discontinuous issue added with the title of “New Housing Finance Program” to the Law on the Regulation of Public Finance and Debt Management; Cash resources will be transferred to banks operating within the scope of the Banking Law, through a public bank to be determined by the President, in order to contribute to the housing finance installments provided by banks in order to facilitate the housing finance installment payments of real persons who are citizens of the Republic of Turkey.
The Minister of Treasury and Finance will be authorized to add appropriations to existing or newly opened schemes in the budget of the Ministry of Treasury and Finance for cash resource transfer. Within the scope of this element, the total principal price of housing finance cannot exceed 5 percent of the initial appropriations of the Central Administration Budget Law for the relevant year. The President will be authorized to increase this price up to one fold.
