Bridge Program: Over 160,000 applications – When payments start



With the submission of a total of 160,467 applications, the deadline for submitting applications to the “Bridge” program was completed on October 31, which provides support, through a state subsidy, to borrowers affected by the financial consequences of the coronavirus pandemic and have loans with promissory notes. mortgage in the first home. This number proves the great impact and success of the program, which, for the first time, rewards consistent borrowers. Characteristic of its success is that in its 3 months of operation, ie from August 3 to 31 In October, 23 times more applications were submitted, compared to the previous Government’s interim program, which lasted 13 months. “Bridge” Program – The installment subsidy , we enter the phase of payment of the state subsidy of the loan installment, for 9 months. Payment to start: – From the current month, for a serviced loan that has not been included in the installment payment suspension. – After the end of the installment suspension, after consultation of the borrower with the financial institution, for a serviced loan that has been included in the context of a suspension of payment. – After the borrower agrees with the financial institution for a new, sustainable settlement of his debt, for non-performing loan. 80% in the 2nd quarter and 70% in the 3rd quarter, with the maximum monthly subsidy amounting to 600 euros per creditor. While, the state subsidy of the “red” borrowers, if the loan has not been terminated, amounts to 80% of the monthly installment in the 1st quarter, at 70% in the 2nd quarter and at 60% in the 3rd quarter, with the maximum monthly subsidy being set at 500 euros per creditor. If, finally, they give it has already been terminated, the state subsidy reaches 60% of the monthly installment in the 1st quarter, 50% in the 2nd quarter and 30% in the 3rd quarter, with a maximum monthly subsidy of 300 euros per creditor. In any case, the above actions should be completed in time for the state subsidy to begin to be paid no later than January 2021. Liabilities Borrowers will have to pay each month the remaining amount of the installment, which is not covered by the State. After the end of the grant, they must pay the full monthly installment of their loan, for a period of at least: – 6 months, for non-performing loans or loans with a delay of up to 90 days on February 29, 2020, – 12 months, for non-performing loans loans with a delay of more than 90 days on 29.2.2020 which have not been terminated, – 18 months, for non-performing loans with a delay of more than 90 days on 29.2.2020 which have been terminated up to that date.– 12 months, for loans in any of the above categories, in which the installment is not set on a monthly basis. Otherwise, borrowers will be asked to repay the government subsidy. Follow it on Google News and find out all the news first See all the latest News from Greece and the World, at



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