A new cycle of the My Home2 programme will be activated with a budget of EUR 2 billion financed from the Recovery Fund.
With “My Home 2”, around 15,000 citizens under the age of 50 will have the opportunity to purchase their own home with a favorable mortgage, as the interest rate will be reduced by 50% compared to the interest rates offered by banks for home loans.
Minister for Solidarity and Family Sofia Zacharaki noted in an interview with ERT a few hours after the Prime Minister’s speech at TIF: “EIf I had to estimate the start date of the new program, I would say it will take place in the 2nd quarter of 2025„
Details, said Ms Zaharaki, will be announced immediately, but at this stage An extension of the income criteria is being considered.
„So we will go from the “ceiling” of 16,000 euros, which was foreseen in the old program, to 20,000 euros – the starting amount for an applicant, and then, she noted, we will have a significant increase in family income and an increase of 4,000 euros per child. I think we will give a break to many of our fellow citizens because, as the Prime Minister said, this will affect about 15,000 couples who will be able to acquire their own housing„
The Prime Minister stressed when announcing the My Home 2 housing programme: “MWe will increase the age of the beneficiaries to 50 years because I often hear complaints from the generation of forty-year-olds who “bear the brunt of the crisis on their shoulders” and we have excluded them from the program. And they are right„
„I often meet our fellow citizens who feel great satisfaction at having been able to buy their own home with a lower mortgage payment than if they had rented it. We have also received 400 million from the Renovation Fund to provide interest-free loans of up to 20,000 euros exclusively for the energy renovation of almost 20,000 old houses, and this programme already exists” she added.
The new round of the programme is expected to will significantly boost housing lendingsince the loans granted by banks under “My Home II” cover up to 90% of the commercial value of real estate and have Repayment period up to 30 years.
The basic requirements for taking out new subsidized housing loans are that the plot area is up to 150 square meters, the value of the property is up to 200,000 euros and the properties are located in a residential area.
This is expected Income criteria for admission to the program will be expanded by raising the limit to 20,000 euros (from 16,000 euros for singles) and a corresponding increase in the limit for couples (and individuals) with children. Today, the income criteria are 16,000 euros for single people and 24,000 euros for couples, with a supplement of 3,000 euros for each child. For single parents, the maximum income is 27,000 euros.
