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Greece: E-Platform for Mortgage-Loan Subsidy Programme launched

The Greek finance ministry launched the operation of a digital platform for applications to the “Bridge” program, which subsidizes mortgage loans on primary residences for individuals and businessmen hit by the coronavirus pandemic. The platform was launched on Monday and in just two days it received more than 7000 applications.

Applications will be accepted until September 30 in the digital platform of the Private Debt Management Special Secretariat. The program offers a state subsidy for a total of nine months, covering up to 90% of a monthly loan tranche in the first quarter, 80% in the second quarter and 70%in the third quarter.

The program is aimed to reward conscientious borrowers hit by the pandemic, limiting the risk of creating a new generation of NPLs, supporting a payment culture and strengthening social cohesion.

Borrowers included in the program are obliged to keep up with consistent payments of their loan after the nine-month subsidy period.

Original Source: in.gr

Adaptation/Summary: Kiki Athanasiadis