“Bridge” program: Mortgage payments have started

Installments for mortgages from the “Bridge” program have started. Out of the 160,467 applications submitted by the end of October, more than 80,000 have been approved and the Ministry of Finance will start disbursing installments for bank loans on a case-by-case basis. Already, non-performing and non-deferred borrowers, for whom the process has been completed, are beginning to see that they will have to pay only 10% of their monthly installment for November. The “Bridge” program for inclusion The “Bridge” program and the subsidy rate to which the borrowers are entitled provide the following: Loans serviced: If the loan is serviced normally, the borrower-beneficiary has suspended the installments of the loan, may choose to terminate the suspension and receive the grant. Otherwise, he can wait for the suspension of payments to end and start paying the corresponding percentage, receiving the subsidy. The subsidy starts from 90% of the monthly installment for the first quarter, decreases to 80% in the second quarter and to 70% in the third quarter with a maximum subsidy amount of 600 euros. Non-performing loans: In case the loan is “Red”, the application submitted by the borrower-beneficiary of the grant is forwarded electronically to the banks involved, which may request additional required supporting documents. Banks then provide one or more alternative debt settlement proposals within 30 days. In order to start the payment of the subsidy, the loan must have been arranged by agreement with the bank and the contract must have been signed by the end of the year. It is reminded that for this category of loans, which are overdue for up to 90 days, the monthly installment subsidy starts at 80% in the first quarter, decreases to 70% in the second quarter and to 60% in the third quarter. The maximum amount of the grant is 500 euros. Loans that have been terminated: A similar procedure is followed for loans that are overdue for more than 90 days or have been terminated, as, in order for the loan installment subsidy to start, it must have preceded settlement after a debtor-bank agreement. For loans with a delay of more than 90 days or what has been terminated, the subsidy amounts to 60% of the monthly installment in the first quarter, 50% in the second quarter and 30% in the third quarter and for an amount of up to 300 euros. Follow it on Google News and be the first to know all the news See all the latest News from Greece and the World, at

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