ASP loan and 2023

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The turn of the year brought good news for first-time home buyers! The changes to the terms of the ASP scheme made in April 2022 have entered into force at the beginning of this year.

The changes have been made to make it easier for people to buy their own home with an ASP loan, especially for owner-occupiers in different life situations. The Law on Interest Subsidies on Loans for Home Ownership has been amended so that the use of two ASP loans increases the maximum loan amount. You can then get 50% more interest subsidy than if you buy your own home. The maximum amount of the State guarantee was also increased from EUR 50,000 to EUR 60,000. Further, the upper age limits also changed: Instead of the previous 39 years, the upper age limit is now 44 and you can still start saving after the age of 39.

In addition, in some cases, an unmarried partner can now be treated as a married partner if one of them has already reached the age of 45.

For more information on the ASP scheme, please contact your bank. Unfortunately, the information provided by the banks is not always spot on, but you can get definitive information on all aspects of the system from the National Treasury.

With the prevailing inflation and interest rate developments, the threshold for buying a first home in particular has been rising slightly, especially given the somewhat sharp rise in house prices in recent years. However, the changes that have now come into force are helping to ease the situation somewhat. And prices don’t seem to be on such a runaway trajectory any more.

So, with renewed enthusiasm, let’s start looking for the first home of our dreams, sensibly but with feeling!

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Forced to bang your brains out, ...

…because we have a history of delivering ordered services quickly, often talking about hours. We understand that the pressure to buy once you find the home of your dreams is intense, which is why we promise delivery within 24 hours of your order. At the latest. This way, you don’t have to hold your breath in your shopping pants for an unnecessarily long time.

One report

There are quite a lot of different documents involved in a housing transaction, ranging from a sales brochure to a floor plan to an audit report. All are necessary for the evaluation, but it is still possible to summarise the essentials in plain language in a single report. Good riddance to the legalese and welcome the core facts with one (1) single report!

Trade documents

Even if the deed of sale of a residential property is a free-form deed, it should still contain all the essential information. We will check that this is the case. We will also check all the annexes that go on the side of the deed, i.e. the entire bundle of documents. You can then breathe a little easier as you sign the deed to your new home.

Negotiated bidding

We are here to help you negotiate your offer. We tell you what to look out for, what to ask the seller/agent and how to interpret the answers. And what conclusions can be drawn from the situation

Making a takeover bid

There is more to a takeover bid than just the price offered. We will help you to identify critical issues and check that all the agreed issues are properly recorded in the offer. And only the agreed things. So that you can sign it with confidence.

Sales price

And by that we mean the final price. We also take into account any company debt and the plot share. We compare the price to other comparable realised transaction prices in the area, not to asking prices. Apartments are always individual, and their equipment and condition vary greatly. However, we will find out if the price area is reasonable and acceptable.

Level of care

We estimate the level of the management fee charged by the company compared to other comparable housing companies in the area. We also look at whether the level has been right for the costs and whether there are clear upward pressures.

Zoning of the area

We’ll find out if there are any zoning changes afoot, or if that sea view you bought at great cost is about to disappear behind a new tower block in a year’s time. Or whether there are some less radical things happening around the place you are considering.

Management of the housing company

We look at how the management of the company has performed, including both the management and the board. Has the management been concerned only with making savings at every point or with keeping the company in good shape and maintaining or even increasing its value? 

Future renovation projects

We assess what kind of renovation projects are expected in the near future and the timeframe in which they can be expected to take place.  We might also throw in some guesses as to the expected costs!

Repair history

We look at when and what measures have been taken in the company and mirror them against the technical lifetime of each item. For example, we use the definitions of the Finnish Building Information Foundation RTS and the Central Association of Plumbing and Heating. This allows us to estimate whether the company has a repair debt.

Housing company finances

We carefully read through the company’s balance sheet and annual report, calculate the company’s indebtedness, liquidity and assess the overall financial situation. We compile our findings into a plain-language report that gives you an overview of the company’s situation.