Daugavpils' Most Active in Latgale in the Use of 'Altum' Housing Loans
A family in Rēzekne, struggling to find adequate housing after the birth of their fifth child, benefited from an 'Altum' mortgage program designed to assist larger families.
In Rēzekne, a family led by Ivars Logins faced a housing crisis after welcoming their fifth child. They had been searching for a larger home for about two years, but found the local housing market challenging. With no new developments in the area since the 1970s, they were left to consider the secondary housing market, ultimately locating a house built in the 70s in a quiet neighborhood. This reflects a broader issue in Rēzekne where the lack of new construction limits options for families needing more space.
The 'Altum' mortgage loan program has provided significant support to families like Logins, offering opportunities for home purchases valued over 70,000 euros, with additional assistance tailored to large families. This government-backed initiative is essential for supporting families who find themselves expanding in urban environments with limited housing options. Logins expressed appreciation for the program, noting the reasonable interest rates compared to commercial banks, which speaks to the program’s importance in the contexts of family budgeting and housing stability.
Overall, the story highlights the ongoing challenges facing families in Rēzekne regarding housing availability and underscores the vital role governmental support plays in easing these burdens. It sheds light on issues of urban development, family needs in housing, and the financial mechanisms available to assist families in securing adequate living spaces, a crucial factor as child-rearing responsibilities grow during school years.