The new cycle of the “My Home” program is immediately activated, amounting to 2 billion euros, which will be financed by the Recovery Fund. With “My House 2” approximately 15,000 citizens up to the age of 50 will have the opportunity to acquire a home with a cheap mortgage as the interest rate will be reduced by 50%, compared to the interest rate granted by the banks for housing loans.
The Minister of Cohesion and Family, Sofia Zaharaki, in an interview with ERT, a few hours after the Prime Minister’s speech at the TIF, pointed out that, “if I had to make a time estimate for when the new program will start, I would say shortly after first quarter of 2025.
The details, according to Ms. Zaharaki, will be announced immediately, but currently the expansion of the income criterion is being considered.
“So from the 16,000 that was the old program, we will go to 20,000 the starting amount for the single applicant and then,” she noted, “we will have significant increases in family income and an increase per child of 4,000. I think we will give breathing space to a lot of our fellow citizens, since as the prime minister said, it will concern about 15,000 couples, who will be able to get their own house.”
The fan is opened to citizens up to 50 years old
The Prime Minister, announcing “My Home 2” emphasized that “we will take it to 50 years because I often hear complaints from the generation of forty-somethings, who ate the full burden of the crisis and we excluded them from the program. And they are right.”
“I often meet our fellow citizens who feel this great satisfaction that they were able to acquire their own home by paying a lower mortgage payment than they would have paid if they were renting a home. We also secured 400 million from the recovery fund to make loans of up to 20,000 euros at zero interest for the sole purpose of energy upgrading almost 20,000 old homes, a program that is running,” he added.
The new cycle of the program
The new round of the program is expected to give a significant boost to housing credit, as the loans that banks will grant with “My Home II” will cover up to 90% of the commercial value of the property and will have a repayment period of up to 30 years.
The basic characteristics of receiving the new subsidized housing loans provide that the area of the property is up to 150 sq.m., the value of the property is up to 200,000 euros and the properties are located in a residential area.
The income criteria for inclusion in the program are expected to be expanded with an increase in the limit to 20,000 euros (from 16,000 euros for singles) and a corresponding increase in the limits for couples and those with children.
Today the income criteria are 16,000 euros for singles and 24,000 euros for couples, with an increase of 3,000 euros for each child. Single-parent families have a maximum income limit of 27,000 euros. Changes are also being considered in the “cutter” of the age of the property.
Interest-free loans up to 20,000 euros
At the same time, a new budget program of 400 million euros will be “run” through funds from the Recovery Fund, which will offer loans of up to 20,000 euros, with zero interest, to owners of 20,000 homes with the aim of upgrading their energy.
Source: ot.gr
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