The expansion by 30% of income and assets for the inclusion of vulnerable borrowers in the mortgage installment subsidy program was announced by the Minister of Finance Christos Staikouras.

More specifically, he stated:

“The Ministry of Finance, seeking to help as many vulnerable and informed citizens with mortgages as possible, who are burdened by the successive increases in interest rates due to the contractionary monetary policy, has agreed with the Greek banking system and announces the expansion by 30% of income and property criteria for inclusion in the mortgage installment subsidy program.

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.

In order to expand the scope of the beneficiaries of the program, a relevant legislative provision will be submitted immediately and will be followed by a Ministerial Decision by which the income criteria will increase up to 27,300 euros depending on the composition of the household, from 21,000 euros currently in force, while the property criteria will increase up to 234,000 euros depending on the composition of the household, from the current 180,000 euros.

It is recalled that the subsidy, at a rate of 50% of the interest rate increase, is covered exclusively by the banking system without any burden on the state budget, with a reference date for the calculation of the increase on 30.06.2022, for a period of 12 months and concerns housing loans or small business loans, with collateral on the first home. The Special Secretariat for Private Debt Management of the Ministry of Finance will continue to assist in the implementation of the program, issuing the certificate of vulnerability with the now expanded criteria.

The Ministry of Finance proves in practice that it listens to the real problems of citizens and intervenes in a coordinated and decisive manner, in cooperation with the banking system and the competent supervisory authorities, in order to effectively support households and businesses in dealing with the extraordinary difficulties of the current period”.