How the recently achieved agreement amongst the Greek systemic banks affects the mortgage market
Submission period was extended by three months.
An expansion by 30% of the inclusion criteria in the subsidy program for the installment of housing loans has been approved following an agreement between the banks and the Ministry of Finance.
At the same time, the deadline for submitting applications for inclusion in the program is extended by three months.
Specifically, the income criteria increase up to 27,300 euros depending on the composition of the household, from 21,000 euros that applies today.
For immovable property, the ceiling increased to 234,000 euros, from 180,000 euros, while the total amount of movable property increases to approximately 27,000 euros from 21,000 euros.
At the same time, the deadline for submitting applications to the program is extended by three months, until 31.07.2023, so that more borrowers can apply and benefit from it.
It is been recalled that the program provides for a subsidy of 50% of the interest rate increase, which is covered exclusively by the banking system, with a reference date for the calculation of the increase on 30.06.2022, for a period of 12 months.
It refers to mortgage loans or small business loans, with real security in the first residence that are normally serviced to date by the borrowers, who will receive a certificate of vulnerability with the now expanded criteria from the Special Secretariat for Private Debt Management of the Ministry of Finance.