By Chrysostomos Tsoufis

The first version was a universal success. Tangible. There are couples you can talk to who without the program would have had no hope of owning their own home. Not even the opposition has questioned it, while even the banks used it as a … compass to shape the their lending policy.

The MY HOUSE 2 it will be somewhat… changed for the friendlier anyway.

Until now, couples between 25 and 39 years of age have had the right to apply, and the idea is that in its advanced form, the program will also address couples over 40 and up to 50 years of age.

One would expect that this change should logically bring changes to other features of the program. For example, older couples are likely to have children and will therefore aim for larger homes.

In theory older couples who are not at the start of their professional careers could potentially aim for higher quality properties.

At the moment, however, the Ministry of Finance is not considering such changes because the funds have not yet been secured and much will depend on the negotiations with Brussels

I remind you that this program provides for:

  • Loan for the purchase of a house worth up to €200,000
  • Loans up to €150,000 or 90% of the value of the property with a duration of up to 30%
  • Surface area up to 150 sq.m.
  • At least 15 years old
  • 0 interest rate for 75% of the loan and for the remaining 25% depending on what the respective bank sets. Full interest rate subsidy for three and multiple children
  • Income up to €16,000 for singles
  • Up to €24,000 for a couple
  • Up to €27,000 for single-parent families
  • +3,000/child
  • Minimum income of €10,000

However, especially regarding the income criteria, the Prime Minister himself, speaking on SKAI radio, stated that the change of the income criteria is being considered and government officials confirm that the change will take place.

Discussions on resources have already begun but at a low level.

In the first program and its extension with a total value of €1 billion, €750 million was contributed by the state budget, through DYPA, and €250 million by the banks.

But now the degree of difficulty increases because the government’s goal is to find €2 billion and the lion’s share – because the banks will also participate again – to come from the Recovery Fund, a fact that requires consultations with the new leadership of the Commission.

Their result is expected to be known in the autumn at the latest as the government’s goal is to have MY HOUSE 2 launched before 2025.

As informed by skai.gr Greece is seeking to have the program financed by the loans rather than the grants arm of the European Recovery Fund, which means that projects will not be required to be included in the National Recovery Plan

The tally so far of the MY HOME program says that by the end of the year 9,155 couples will have acquired their home. The average age of borrowers is 34 years and their average income is €16,000.