There will be more beneficiaries who will be able to acquire a residence through the “My Home 2” program as the income criteria are expanded, starting with the single person whose income will not exceed 20,000 euros from 16,000 euros that was in the previous program.
The Greek government’s discussions with the European Commission are in full progress with the aim of reaching, if not final, at least an initial agreement by the TIF, around the main pillars of the “My Home 2” program.
The main goal is for the prime minister in his speech in Thessaloniki on September 7 to give more details about the program which will proceed with an expanded number of beneficiaries, income criteria and a lower interest rate.
The main aim of the “new” program is to give cheap – or even interest-free – loans to thousands of households to look for and buy a house, which will, however, meet certain specifications.
Athens’ proposal to the Commission
The proposal that the Greek side has submitted to the Commission and is under discussion provides for:
-widening the number of beneficiaries as the age limit increases from 25 to 39 years to 50 years broadening the income criteria of the beneficiaries by increasing the limit to 20,000 euros from 16,000 euros for the single, with a corresponding increase in the limits for couples and those with children.
-the interest rates will be half of those offered in the market or even interest-free if they concern families with more than 3 children or single-parent families.
-the age of the property, based on the Greek proposal, does not change and remains the same as the previous program, which is at least 15 years old.
In the proposal submitted by the Greek side, it is foreseen that of the 2 billion euros calculated for the “My Home 2” program, 1 billion euros will be covered by the loan portion of the Recovery and Resiliency Facility and the remaining 1 billion euros from bank loans.
