By Vangelis Dourakis

‘They open their gates’ Banks from today to those who wish to secure interest -free loans of up to 25,000 euros for energy upgrading of either their first home or their cottage. Through the program ‘I am upgrading my house’, which is activated, those who do not have access to subsidies – due to income, scoring or other binding criteria – will be able to get interest -free loans to shield their home energy.

The amount of the requested loan shall be determined on the basis of the offers or budgets of tasks or preferences (materials, services, tasks included in the list of eligible interventions) by suppliers or contractors or technical advisers/engineers when submitting the lending application.

The process of disbursing interest -loan loan

By resorting to ‘I am upgrading my house’funding for thermal insulation, “green roof”, cooling – heating systems, etc. can be secured.

The amount of the loan depends on the evaluation of the credit rating of the beneficiary the bank itself.

The disbursement will take place one -off or partial in accordance with the usual banking practice followed in loans of similar purpose. Banks are likely to request “evidence” for the progress of work.

Within 30 days of the date that the person concerned submits a request to the bank, the store will check the filling criteria of the program’s eligibility criteria, evaluate the applicant’s credit rating and decide whether or not to issue the loan and the terms of grant .

Conditions such as income criteria are “lacking” from this program, in other words, anyone who wants independent income may apply, and there is no property criterion as the money can also be used for the cottage.

Those who apply, however, should be … ‘Fast’as requests are considered (and approved) in order of priority. Also the person concerned should pass the ‘Test’ Credit evaluation that the banks themselves will make.

Beneficiaries of the program are natural persons who have a right (full ownership / usufruct / fine ownership) in an eligible residence (main or non -leased secondary), provided that they have not been made from 1 January 2020 from any other energy upgrade program.

What interventions are funded with interest -free loan

So those who want to join the program should know the following:

1. The right to participate in the program is acquired by a final recipient and for a single property.

2. Eligible expenses that may be funded by TAA loans under the program ‘I am upgrading my house’ They are expenses incurred in main or non -leased secondary homes of natural persons within the Greek territory and relate to:

  • Thermal insulation (internal/external).
  • Construction of green roof.
  • Placing energy frames.
  • Mounting solar water heater.
  • Installation of external permanent shading systems (not awnings).
  • Installation of heating – cooling system (Heat Pump, Energy Class A+ and Top Energy Class Air Conditioning Units).
  • Installation of thermostatic regulation systems.
  • Installation of energy storage system (batteries) from renewable energy sources.
  • Installation of photovoltaic stations – small wind turbines and other RES and
  • Placement work / Technical Advisor – Engineer Services.

3. Interventions should:

  • Implement and tax documents have been issued at a time later on the date of entry into the program.
  • Have been completed within 18 months of the signing of the loan agreement.

4. The loan may not be less than 5,000 euros and may exceed 25,000 euros.

5. The loan repayment duration is 3 to 7 years without a grace period.

6. Ensuring the loan claim will obtain guilty or real -life collateral in accordance with the credit policy of the banks participating in the program.

7. The deadline for the program is December 31, 2025 and the conclusion of a borrowing contract on June 30, 2026.

ATTENTION: Anyone who receives the interest -free loan and does not pay the installments normally will lose his privilege ‘Athenian’ and will be called upon to pay normally the interest on.