From September 1, Liberty has been involved in the state mortgage subsidy program, which aims to provide maximum support to individuals who want to buy or build a real estate.

Under the program, individuals with many children or parents of a newborn child have the opportunity to receive a 5-year state subsidy on mortgages, both in new and old built projects, as well as for the construction of a house.

What does the subsidy program mean?

Under the program, in case of purchase of a real estate / construction of house from development companies or private individuals, the state will finance the loan interest at a maximum of 8% for a period of 5 years. The maximum amount of a subsidized mortgage loan is GEL 200,000.

For loans over GEL 200,000, the remaining amount may be financed by the participation of the borrower or by the bank through a parallel mortgage loan.

The following persons can benefit from the program:

• A family / single parent / widow if they have a newborn child at the time of taking the loan (children born between September 1, 2021 and September 1, 2022)
• A family / single parent / widow if they have 3 or more minor children at the time of taking the loan and will receive a loan under this program through September 1, 2022;
• A family / single parent / widow who has a child at the time of taking the loan who was been adopted after September 1, 2021.

The subsidy percentage is calculated as follows:

• If the borrower has 1 or 2 children acquired after September 1, 2021, the program will subsidize the refinancing rate of the National Bank minus 3.5%, and not more than 6% of the amount.
• If the borrower has 3 or more minor children, the program will subsidize the refinancing rate of the National Bank minus 1.5%, and not more than 8% of the amount.

The refinancing rate (index) is periodically determined by the National Bank of Georgia and information about it is available on the website of the National Bank of Georgia: https://nbg.gov.ge/ (Section of monetary policy); Changes in the refinancing rate (index) are carried out periodically determined by the National Bank of Georgia.