My House II: Over 6,000 applications in three and a half hours

It will be recalled that the “My House II” program, with a total budget of 2 billion euros, which is financed 50% through the Recovery and Resilience Fund and 50% by banking institutions, gives the opportunity to 20,000 young people, couples and families to acquire their own first home at a subsidized interest rate.

More than 4,000,000 applications have been submitted for the “My House II” program in a span of three and a half hours since the platform opened on 12.

It will be recalled that the “My House II” program, with a total budget of 2 billion euros, which is financed 50% through the Recovery and Resilience Fund and 50% by banking institutions, gives the opportunity to 20,000 young people, couples and families to acquire their own first home at a subsidized interest rate.

The application process starts today January 15 and for assistance, in addition to banking branches, interested parties can contact:

– Phone service at 211-1058652

Specifically, it was announced that the first step is to apply to the credit institution of the interested party’s choice, where he or she submits the required documents. Among the supporting documents is the issuance of a Verification of Eligibility from gov.gr. Through the special platform on gov.gr available from today, 15/1 at noon, the interested party logs in by entering their personal TAXIS codes.

As soon as he/she enters the system, his/her data is automatically drawn. The person concerned will receive an application protocol number from the system, with which he/she will learn the result of the check a few days later. If he/she is found eligible by the system, he/she will print and submit the certificate to the credit institution. The applicant may also submit the supporting documents to the credit institution to begin with and once the Certificate of Eligibility is issued, submit it separately.

Please note: The fact that the gov.gr platform registers a person as eligible, does not automatically imply that he/she is also eligible for the program. The assessment of final eligibility is carried out by the credit institution.

The credit institution also provides detailed information on the documents that the applicant must provide at all stages.

It is important that the property found by the applicant has an Electronic Property Identity, as in the process it will save valuable time from the technical and legal control that the credit institution will follow and, in addition, it will be obligatory to be indicated in the purchase contract.

After the applicant has selected the property, the credit institution has thirty (30) days from the submission of the supporting documents to verify that the eligibility criteria of the acquired property are met.

After the positive response of the NAC, the credit institution must inform the beneficiary of his/her inclusion in the program. Approval of inclusion is valid for ninety (90) days from the date of notification to the applicant. Within this period, the credit institution shall conduct a legal and technical inspection of the property. If the inspection is completed, the beneficiary is notified to proceed with the final contract to purchase the property.

Following the conclusion of the final purchase contract, the credit institution enters into the Final Recipient Lending Agreement.

The beneficiaries of the Program shall bear the costs of legal and technical inspection of the property, as well as the costs related to the registration of the burden on the acquired property (including, but not limited to: costs for the issuance of the court decision to register a mortgage lien on the property, the fee for the registration of the mortgage lien, costs for the application for the issuance of certificates, the summary of the court decision and the issuance of the certificates, costs for the declaration of the lien rights, if the Land Registry operates

The six improvements to “My House II”

– The age limit for beneficiaries has been raised to 50 years. In “My House 1”, the age limit was 39 years.

– The income threshold for the unmarried person was increased from 16,000 to 20,000. The family income was adjusted from 24,000 euros to 28,000 euros, with each child increasing the amount by 4,000 euros (from 3,000 euros), and the income for a single-parent family was increased from 27,000 euros to 31,000 euros, with each child after the first increasing the amount by 5,000 euros (from 3,000 euros).

– The calculation of income will now be based on the average of the last three years, not just the last year in case the person concerned exceeds the maximum income limit.

– The contract value of the property to be purchased is increased. It rises to 250,000 euros from 200,000 euros, allowing 90% of this value to be covered. The maximum financing limit is 190,000 euros.

– The 150 sqm limit no longer includes ancillary spaces (storage rooms, parking spaces, etc.), which are located in the common or common areas of a block of flats and are not independent horizontal properties, but belong to a horizontal property for exclusive use and are indicated on the title deed.

– For the first time, a special provision is made for the participation of the residents of Evros in the program. Families with two children who acquire their first residence in the municipalities of Orestiada, Soufli, or Didymoteicho are entitled to an interest rate subsidy of 50% for the part of the loan financed by the credit institution.