The loan term in the “My Home II” program can be from:

• 3 years (minimum term), to

• 30 years (maximum term).

5. Is there a grace period?

No, there is no grace period.

6. Are collaterals offered for the provision of financing?

The main collateral received for the provision of financing is the real security of the property being purchased.

The provision of a personal guarantee by a third party is not permitted for the granting of loans.

7. Is there a possibility of early repayment?

The Borrower may repay the loan in part or in full before its maturity date without any penalty or other charge.

8. Who are the beneficiaries of the Program?

Beneficiaries of the Program are:

Natural persons who, on December 31 of the year of application, are at least twenty-five (25) years of age and no more than fifty (50) years of age, or spouses or persons connected by a civil partnership, provided that one (1) of the two (2) persons is at least twenty-five (25) years of age and no more than fifty (50) years of age on December 31 of the year of application, [see also question 16], provided that they do not have another property suitable for their residence and they meet the income criteria.

9. What are the income criteria that beneficiaries of the Program must meet?

The income criteria vary depending on the family status of the beneficiaries and include both minimum and maximum income limits.

Minimum income threshold:

• For all categories of beneficiaries, the minimum income threshold is €10,000, as shown in the latest tax return.

Maximum income thresholds:

• Single / divorced or parties to a civil partnership that has been dissolved/cancelled without children: €20,000

• Married or Parties to a Civil Partnership: €28,000 (+ €4,000 * number of children)

• Single-parent families / divorced or parties to a civil partnership that has been dissolved/cancelled with children: €31,000 (+ €5,000 * number of children, beyond the first)

To meet the maximum income threshold:

• The income of the last tax year is taken into account

• If this income exceeds the maximum limit, the average income of the last three years is taken into account. In this case, the family status is that in force at the time of the application

• Any pensions/welfare benefits of dependent children are counted for the minimum income.

• The maximum income does not include the income exempt from income tax according to Law 4172/2013

10. If two spouses or partners in a civil partnership file separate applications, is their individual income taken into account?

In the case of spouses or partners in a civil partnership, the family income is taken into account, regardless of whether they file separate tax returns.

11. What is the time period for calculating the income criteria?

It can be either the last tax year or the average of the last three tax years.

Last tax year:

• It is defined as the year immediately preceding the year of application, provided that the submission of income tax returns has started.

Average of the last three tax years:

• It is used in the case that the income of the last tax year exceeds the maximum income limit of the category to which the applicant belongs.

• It is calculated taking into account the income of the last three tax years.

12. If it is necessary to calculate the average of the last three tax years and the applicant's marital status has changed in the last three years, based on which situation is the average calculated?

When the average of the last three years is used, the applicant's marital status on the date of application is considered to be valid for the last three tax years.

13. What are the selection criteria for properties accepted by the Program for financing?

The Program supports lending for property that

• is acquired in full ownership by the applicant(s)

• is suitable and available for owner-occupation [not an unfinished property, not rented at the time of purchase by the applicant(s)]

• constitutes a single independent horizontal property or a single-family home.

• It exists legally

• It has an Electronic Building Identity

• Its area does not exceed 150 square meters (sq m) – the above surface does not include the annexes – attachments reflected in the contract

• The property must be old by 31/12/2007. [see also question 14]

• The value of the property, as specified in the purchase contract, must not exceed 250,000 euros

14. What does old by 31/12/2007 mean?

The age begins to be calculated after two years have passed from the date of issuance of the building permit or its last revision. That is, the building permit or the last year of revision of the permit must have been issued no later than 31/12/2005. In the event that there is no certified building permit, the age is derived from the completion certificate, in the age field, with the latest date being 31/12/2007. If there are more dates in this last field, the age up to 31/12/2007 must concern at least 50% of the main areas.

15. Are there any prohibitions in the buyer-seller relationship of a property?

The purchase of the property cannot be made by a blood relative or by 1st or 2nd degree of affinity of the seller.

Also, it cannot be made by a spouse or a person connected by a cohabitation agreement with the seller.

In order to confirm that the purchase of the property is not made by a relative by blood or by marriage of the first or second degree of the seller or by a spouse or person connected by a cohabitation agreement with him, a relevant cohabitation agreement and a certificate of marital status of both the seller and the buyer and the spouses/parties of the cohabitation agreement, both their paternal and maternal families, are submitted, regardless of whether the loan application is submitted jointly or by one of the two. In the event that the presentation of the said supporting documents becomes impossible, a solemn declaration of article 8 of law 1599/1986 of the buyer and the seller is accepted, stating that there is no relationship between them by blood or by marriage, of the first or second degree, or of a person connected by a cohabitation agreement with the buyer(s) or the seller(s), respectively.

16. How old do I have to be to participate in the Program?

Natural persons who, on December 31 of the year of application, are at least twenty-five (25) years of age and no more than fifty (50) years of age, or spouses or persons connected by a civil partnership, provided that one (1) of the two (2) persons is at least twenty-five (25) years of age and no more than fifty (50) years of age on December 31 of the year of application.

For example, an interested person born from 1/1/1975 to 31/12/1975 may submit an application for inclusion within the year 2025.

17. To confirm the age of the beneficiary, is another type of identity card accepted by the program other than a police certificate, e.g. expatriate, foreigner, passport, etc. Correspondingly, is a birth certificate issued in another country other than Greece, e.g. Cyprus, acceptable?

The age of the applicant is proven by a birth certificate or a copy of a police identity card or passport.

18. How do I prove that I do not have real estate suitable for residence?

To determine whether or not a property is suitable for his residence, the applicant submits either a solemn declaration from the Single Digital Portal (gov.gr) that he does not submit Real Estate Data Declarations (E9), i.e. he does not own a property, or a printout of a completed Asset Statement for the last year, as shown by the Integrated Information System of the Property Register of the Public Administration Authority. In the case of spouses or parties to a cohabitation agreement, the corresponding documents of the spouses or parties to a cohabitation agreement are also submitted, regardless of whether the application for the loan is submitted jointly or by one of the two

19. Is the pregnant child considered a family member?

He is considered a family member at the point of assessment if the existing residential property covers the housing needs of the family. Pregnancy is proven by a medical certificate.

20. Is a property that is encumbered by a previous loan eligible?

In the case of a property with an encumbrance (previous loan), this may be accepted for financing by the Program, in accordance with the usual banking procedure, namely with direct repayment of the previous loan and a certificate from the Bank that granted the loan that it consents to the removal of the encumbrance and has no other claim. The Program loan cannot be used to refinance an existing loan.

21. What applies to families with three children and many children who are included in the Program?

Families with three children and many children enjoy special treatment in the program, through an interest rate subsidy. According to paragraph 1.11 of article 4, families with three or more children are entitled to a 50% interest rate subsidy for the part of the loan financed by the Credit Institution. This subsidy is valid for the entire duration of the loan.

• If the Final Recipient is a family with three or more children on the date of submission of the financing application, the subsidy is valid from the beginning of the loan.

• If the status of a family with three or more children is acquired after the conclusion of the loan, the interest rate subsidy begins after the submission of the required supporting documents to the Credit Institution and concerns the remaining repayment period of the loan.

• Also, families with three children and many children have higher income limits for their eligibility for the program compared to other categories of beneficiaries (+ €4,000 * number of children).

22. Is there any special provision for people with disabilities?

For the calculation of the minimum income limit of €10,000, the total annual taxable income - actual or imputed - is taken into account, regardless of the source of origin and their registration code in the Personal Income Tax Return of the last tax year, in addition to income that relates exclusively to pensions and welfare benefits of the applicants' dependent children.

Also, for the criterion of the lack of a property suitable for the applicants' residence, the total surface area of ​​the main residential areas, of a beneficiary with a disability rate of at least 67%, is less than 70 sq m, (instead of 50 sq m) increased by 20 sq m for the spouse/partner in a cohabitation agreement, 25 sq m for each of the first two children and 30 sq m for the third and subsequent children (including pregnant children at the time of submitting the application).

23. Is there any special provision for those who wish to acquire a residence within the Regional Unit of Evros?

Exceptionally, those who have two children and acquire their first residence in the Municipalities of Orestiada, Soufli or Didymoteicho of the Regional Unit of Evros are also entitled to an interest rate subsidy. That is, they are entitled to a 50% interest rate subsidy for the part of the loan financed by the Credit Institution.

24. How do those interested in obtaining a loan under the Program submit a financing application?

Interested parties submit the financing application directly to one of the collaborating Credit Institutions participating in the Program.

The start date for submitting applications is expected to start on 15/1/2025 (announcements on the official websites of ΕΥΣΤΑ (https://greece20.gov.gr/), of the participating Credit Institutions and of the EBA (https://hdb.gr/)

25. What are the supporting documents that the interested party must collect?

• Birth certificate or copy of ID card or passport.

• Certificate of marital status with a date of issue up to one (1) month before submitting the application. As appropriate and depending on the category to which it falls: notarial deed of dissolution of marriage or civil partnership agreement/irrevocable court decision on dissolution of marriage and certificate of filing or not of legal remedies/ registry certificate of death of the spouse or party to a civil partnership agreement/ copy of court decision declaring the spouse incapacitated and certificate of filing or not of legal remedies/ copy of court decision adoption of the child and a certificate of whether or not legal remedies have been filed.

• E1 or Income Tax Clearance Note/Administrative Determination Act of the last tax year / three-year period and any amendments thereto. In the case of spouses or parties to a cohabitation agreement, the above documents are submitted by both, regardless of whether they submit separate declarations or whether one of them submits an application for a loan. In the case of dependent children of beneficiaries, who receive pensions and welfare benefits that have been counted for the calculation of the minimum income limit, the above of the dependent children are submitted, + welfare benefit clearance from OPEKA

• Solemn Declaration through gov.gr that there are no Real Estate Information Declarations (E9). In the case of spouses or parties to a cohabitation agreement, the corresponding documents of the spouses or parties to a cohabitation agreement are also submitted. If there are properties, E9 and, where applicable, further specifications such as: KEPA disability certification, pregnancy certificate

• Certificate of eligibility for the Program from the Single Digital Portal gov.gr, (see question 26)

• Solemn Declaration through gov.gr, by which he declares that:

«i) he has taken cognizance of the basic terms of the Program,

ii) the information stated in the application is true and the submitted supporting documents are genuine,

iii) the expenditure for the purchase of his first residence has not been, nor will it be, financed by another Fund or financial instrument or by another program financed by the TAA mechanism or by European Union resources and

iv) he authorizes the Credit Institution, the competent audit and supervisory Authorities, EFSTA, the Certified Auditors to whom the EYSTA assigns the confirmation of the satisfactory achievement of the milestones and objectives of action no. 16400 of the National Recovery and Resilience Plan (NRRP) to which the “My Home II” Program relates, to the EBA and any Authority, Body or Organization of the European Union and the Greek State that has the competence to control the use of the funds raised by the Greek State within the framework and in application of the TAA rules for the financing of the Program’s loans, for the further processing and verification of the personal data of a personal nature, even sensitive data, contained in the application with the aim of establishing its eligibility for the Program and its loan, if it is ultimately approved.

This processing is carried out in accordance with Law 4624/2019 (A’ 137), for the needs of implementing the program (indicatively: checks and cross-checks during the submission of applications and the conclusion of loan agreements and the monitoring of compliance with the obligations of the final recipients), for the purpose of extracting statistical data (indicators), as well as for the purpose of conducting research and preparing studies for the evaluation of the Program. "

The above certificates are mentioned as minimum, as further supporting documents may be requested from the credit institution in order to further investigate the creditworthiness of the applicant.

26. What is the Certificate of Eligibility?

The Certificate of Eligibility for the Program will be issued by the Single Digital Portal gov.gr and will be submitted to the credit institution, as well as the other supporting documents. The relevant certificate of eligibility does not replace the eligibility check, which the Credit Institution must carry out in any case.

The start date for submitting applications is expected to start on 15/1/2025 (announcements on the official websites of ΕΥΣΤΑ (https://greece20.gov.gr/), the participating Credit Institutions and the EAT (https://hdb.gr/).

27. What are the supporting documents submitted for the eligibility of the property?

Always in collaboration with the instructions of the collaborating credit institution, the supporting documents to be submitted after the issuance of the pre-approval conditions concern the eligible property (including the Electronic Building Identity (EBI) which concerns each independent divided property of the application (for example, apartment, warehouse, parking space, etc.) and the absence of a family relationship with the buyer

28. How is the evaluation of applications done?

Applications are evaluated based on the order of priority of submission them.

29. Can there be an alternative choice of Credit Institution?

Only in the event that the interested party submits an application to a credit institution and does not receive a response within 30 days or receives a negative response, may he submit an application to another Credit Institution..

30. What happens if the property selected by the applicant has been included in another application?

In the event that the property has already been included in an approved application of another beneficiary, the applicant, if he wishes, can search for another property, by submitting a new application for inclusion in the program for it.

31. Is there a time commitment from the Credit Institution to inform the applicant about the result of the evaluation of the application?

Yes, there is a specific time commitment for the Credit Institution to inform the applicant about the result of the evaluation of the application. The Credit Institution has a period of thirty (30) days from the date of submission of the application to decide on whether or not to issue the pre-approval of the loan and its terms and conditions.

32. For how long is the financial pre-approval received by the interested party valid and what must he do next to complete the request?

The pre-approval is valid for at least sixty (60) days from its notification to the applicant.

Actions of the interested party within the validity period of the pre-approval:

a) Notification to the credit institution:

• The applicant must inform the credit institution of the requested loan amount, based on the property he intends to purchase and the agreed purchase price, and submit the Electronic Building Identity (EBI) and other documents required for the eligibility check, so that the PI can then request the EBA to include the application in the program.

b) Submission of supporting documents:

• The applicant must submit the required supporting documents of paragraphs i to k of paragraph 1, article 5 of the relevant Joint Ministerial Decree.

• In addition, he must submit any other supporting documents requested by the credit institution for the necessary check.

Next steps after submission of supporting documents:

• The credit institution has a period of thirty (30) days from the submission of supporting documents to verify that the eligibility criteria of the acquired property are met.

• If the criteria are met, the credit institution sends the necessary information to the EAB (Hellenic Development Bank) for approval of the inclusion.

33. If the Credit Institution receives a positive response to the request of the interested party, what must it do and what time restrictions are set by the program?

After the approval of inclusion by the EAB, the Credit Institution must inform the beneficiary and proceed with specific actions within specified time frames to complete the procedure.

Informing the beneficiary:

• The Credit Institution must inform the beneficiary of the inclusion of his application in the Program.

Conducting inspections:

• The beneficiary must give an order for a legal and technical inspection of the acquired property.

• The credit institution conducts a legal and technical inspection of the property. If the inspection shows that the terms and conditions for granting the loan are met, the beneficiary is informed to proceed with the conclusion of the final purchase contract for the property. Following the conclusion of the final purchase contract, the Credit Institution concludes the Final Recipient Loan Agreement.

• The beneficiaries of the Program are charged with the costs of legal and technical inspection of the property, as well as the costs related to the registration of the encumbrance on the acquired property (indicatively: cost for issuing the court decision to register a mortgage pre-notation on the property, fee for registering the mortgage pre-notation, costs for submitting an application for the issuance of certificates, the summary of the court decision and the issuance of the certificates, costs for declaring the pre-notation rights, if a Land Registry Office is operating, costs for lifting the pre-notation).

Time restrictions:

a) Duration of the approval of affiliation:

• The approval of affiliation is valid for ninety (90) days from its notification to the applicant.

b) Actions within the deadline:

• The definitive purchase contract and the Final Recipient Loan Agreement must be concluded within 90 days.

c) Possibility of extension:

• In case the definitive purchase contract has been signed but not the Final Recipient Loan Agreement, the affiliation is extended for another thirty (30) days. Prior notification of the EBA by the Credit Institution is required, no later than ten (10) days before the expiry of the initial deadline.

If the deadline expires without action, the approved affiliation to the Program ceases to be valid and the Program budget that was committed on the basis of it is released. In case the beneficiary wishes to resubmit a request, this leads to a new affiliation, provided that there are available funds in the Program budget.

Otherwise (where the available Program funds have been exhausted), the application is transferred to a list and is affiliated with the Program, in order of priority, following the release of funds from the expiration of other approved affiliations.

34. Can the beneficiary rent out the property acquired through the program?

As a rule, the rental of the property acquired through the Program is prohibited for the first seven (7) years from the date of signing the Final Recipient Loan Agreement. Violation of this rule may constitute grounds for termination of the agreement. However, there are certain exceptions under specific conditions:

• Leasing before the seven-year period may be justified, provided that the Final Recipient sufficiently demonstrates, in the event of an audit, the objective circumstances that made it impossible to use the acquired property as his main residence.

Examples of acceptable circumstances:

• Finding a job in a different regional unit than the one where the property is located.

• Change of job to a location in a different regional unit.

• Permanent move abroad.

35. Where can those interested in the Program submit questions about it?

To serve those interested in the My Home II Program, in addition to the Bank branches serving them, there are the following ways of contact:

E-mail: spitimou2@hdb.gr” and

Telephone service at 211-1058652

Source: www.minscfa.gov.gr