How to request a family loan (for upgrading an apartment)

The family loan is only available to young married couples to help them upgrade and equip an apartment. 

It is available to couples where at least one partner is of Monegasque nationality.

This loan application can be made from 3 months before the marriage and up to five years after.

The family loan can be extended for five years, after consultation with the Family Support Commission. The loan can only be extended once.

The application for extension should be made to the Department of Social Welfare and Social Services in the 4^th year of marriage.

To receive the loan your income must be neither above a certain limit nor below a certain threshold (as calculated by the Department of Social Welfare and Social Services).

Payment

Before any payments are made an inspection will be carried out, at the home of the couple, by the Business Development Agency.

The payments will be made directly by the Public Treasury to vendors, judicial officers, contractors or suppliers.

A direct advance of a maximum limit of 20% of the total level of the loan may be approved.

Repayment

The couple are jointly and severally liable for the repayment of the loan.

The term of the loan is 10 years, free of charge, with a deferral period of 24 months.

Early repayment 6 months before the end of the loan period of all instalments entitles the couple to a 10% reduction in the total amount of repayments.

To apply for a loan to upgrade or equip an apartment you must provide:

• A letter addressed to His Excellency the Minister of State
• A copy of the birth certificate of each child
• A certificate of Monegasque nationality
• A copy of the marriage certificate and marriage licence, if applicable
• Quotes related to the purchases for which the loan is being requested
• A rental receipt
• The last 12 payslips or certificate of income for each partner

An appointment should be made with the Department of Social Welfare and Social Services for any further explanations regarding the loan in question, particularly regarding the maximum level of certain costs for quotes.

Your application should be submitted to the Department of Social Welfare and Social Services.