Finance Minister Christos Staikouras announced the expansion of the criteria for income and property of beneficiaries so that as many citizens as possible can join the state assistance program (repayment of mortgage loans).
In his statement, Mr. Staikouras notes that an agreement was reached between the Ministry of Finance and the banks. In addition, as noted, in addition to expanding the criteria, it was also agreed extension of the application deadline for participation in the program by three months with a final date of July 31, 2023.
The detailed statement reads: “The Ministry of Finance, in an effort to help as many vulnerable categories of citizens with mortgages as possible, has come to an agreement with Greek banks. In this connection, an expansion (increasing the threshold) of income and property criteria by 30% is announced. The deadline for applying for participation in the program has been extended by three months, until 07/31/2023, so that as many borrowers as possible can apply.
In order to expand the circle of beneficiaries of the program, the corresponding legislative provision will be immediately submitted, followed by a ministerial decision according to which income criteria will be increased to 27,300 euros, depending on the composition of the household, from 21,000 euros. Simultaneously ownership criteria will be increased to 234,000 euros, depending on the composition of the household, from the current 180,000 euros.
We remind you that the subsidy in the amount of 50% of the interest rate increase is covered exclusively by the banking system, without any burden on the state budget (calculation date 06/30/2022 and duration 12 months). The program applies to home loans or (loans to start a small business) that were issued against the security of the first home.
As emphasized, the authorized secretariat for private debt management of the Ministry of Finance will continue to assist in the implementation of the program. The Ministry of Finance proves in practice that it listens to the real problems of citizens, and actively cooperates with the banking system and competent supervisory authorities to effectively support households and businesses in solving their problems.
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