Cheaper loans for youngsters aged up to 40
One after another, Greece’s commercial banks are offering special housing programs aimed at people up to 40 years of age, with the aim of facilitating their purchase or renovation of a home.
The idea is to mobilize the interest of prospective buyers and the purchase of housing credit, which remains subdued.
After National Bank and Eurobank, Alpha Bank will take the step on Tuesday, as it is expected to announce a special program for young people up to 40 years of age with a particularly competitive interest rate – i.e. lower than the bank’s current interest rates – and additional benefits in relation to the amount of loan financing and the additional costs incurred in obtaining a mortgage loan.
The terms of the new housing loan from Alpha will provide for the possibility of financing up to 90% of the value of the property regardless of its energy class and the loan will be granted without envelope costs, while a consumer loan will be offered with a preferential interest rate for meeting the needs in terms of household equipment.
The promotional actions of the banks follow the exhortations addressed to the banks on Monday by Prime Minister Kyriakos Mitsotakis in his interview with Skai, to take initiatives to support households and businesses, noting that “the banking sector cannot expect everything from the state.”
“We,” he added, “made the program ‘My Home’… why don’t they do something too?”
It is noted that the prime minister announced the extension of the “My Home” program with expanded criteria that will cover households with an age limit of 50 years, from the 39 that applied in its first “version,” explaining that this population category has suffered the consequences of crisis that hit the Greek economy in the previous decade.
In the context of the high demand created by the “My Home” program, National has already announced its “My First Home” program, which is aimed at people up to 45 years of age.
Eurobank has accordingly expanded the benefits of its own program, exempting the borrower from the costs of loan approval as well as the one-off cost of the legal and technical audit (set at 750 euros).
