Government clears home loans for young families


The Czech government on Wednesday night agreed to provide in future home loans to families seeking to buy a flat or house. The offer will be made to families with children aged under 36. Loans can range from 50,000 crowns to a maximum 600,000 crowns with the normal payback over 15 years. This year around 100 million crowns has been earmarked for such loans from the State Fund for Housing Development. The Christian Democrats, among the main backers of the move, welcomed the step but leaders said they hoped more substantial help might be offered in the future.