The implementation of the program is progressing rapidly.My house“, for the granting of interest-free and low-interest mortgage loans for the purchase of a residence.

Until yesterday 1442 young people and young couples they already had a loan approved and they had found the property they will buy (last week the corresponding number was 1,000).

Furthermore, of the 29,809 applications submitted, 7,534 applications have received pre-approval or 67% of those evaluated ((the rest did not meet the requirements of the program)

The total beneficiaries of the program is 10,000 as the loans that can be given in the first phase of the program as already announced are around 5,000.

In addition, demand for the program’s mortgages is already four times higher than available funds. These data demonstrate that the terms of the program correspond to the data of the real estate market, as there are available homes that meet the specifications of value and age, as well as the capabilities of the borrowers.

In particular, according to the latest available data from DYPA, in a period of 45 days (from April 3, when the implementation of the program began, until May 15), 29,809 applications for housing loans under the program have been submitted, totaling 2, 02 billion euros. It is recalled that the budget of the program is 500 million euros (with a provision for doubling it in case of exhaustion of the available resources, with the criterion of course being the approved loans and not the applications).

Of the 29,809 applications that have been submitted:

• 11,193 have already been evaluated and received pre-approval of 7,534 applications or 67% of those evaluated (the rest did not meet the requirements of the program). The total amount of pre-approved loans is 842.5 million euros.
• From the 7,534 pre-approvals, 1,442 have moved on to the next stage of loan approval, as a property has already been found and the legal and technical audit has begun. This means that 1442 young people and young couples have already been approved for a loan and have found the property to buy. It is noted that according to the Public Procurement Act for the announcement of the program, the period of completion of technical and legal control of the property under purchase lasts up to sixty days from the date of inclusion of the application in the Program.

The Minister of Labor and Social Affairs Kostis Hatzidakis stated: “The Cassandras are disproved once again. They challenged the “My Home” program. They argued that it is not of interest to young people and that there are no houses available. Within a few days of the start of submitting applications, not only has a very large number of young people expressed their interest, but a percentage equivalent to 30% of potential beneficiaries has already received approval for the relevant loan. It is therefore good that those who exercise opposition for the sake of the opposition should be careful what they say from now on. Reality takes revenge on them.”

According to DYPA data, for the 1442 applications that have passed the stage of legal and technical control:

• The average amount of loans is 104,926 euros. For these loans, 151.3 million euros have been committed out of the 500 million that is currently the program’s budget.
• 68.52% of applications concern married or cohabiting couples, 28.41% singles and 3.06% single-parent families.
• 36.08% of the loans correspond to the over 37 age group. The following are the ages: 34-37 years (26.66% of loans), 31-34 years (19.36% of loans), 28-31 years (13.44%) and 25-28 (4.47%) .

The “Spiti my” program supports lending for the purchase of a home worth up to 200,000 euros, with an area of ​​up to 150 sq.m. and at least fifteen years old. Beneficiaries are individuals or couples aged between 25 and 39, with an annual income of at least 10,000 euros up to the amount corresponding to receiving a heating allowance (16,000 euros for a single person, 24,000 euros for a couple plus 3,000 euros for each child, 27,000 euros for single-parent families plus 3,000 euros for each child beyond the first) if they do not have a property that meets their housing needs.

The loans cover up to 90% of the commercial value of the property with a maximum of 150,000 euros and can last up to 30 years. 75% of the capital granted by DYPA is interest-free, while for those with three children and many children (and those who acquire this status during repayment) the loan is granted in its entirety without interest.