Conditions and additional benefits
The submission of applications for participation in the co-financed “Spiti my II” program, which includes financing on preferential terms for the acquisition of a first home, began yesterday.
The “My Home II” Program, managed by the Hellenic Development Bank, is implemented within the framework of the Loan Program of the Recovery and Resilience Fund with the financing of the European Union “NextGenerationEU”. The participation of a large number of banking institutions, as reported by the Hellenic Development Bank, ensures the maximum possible coverage and access to the program’s services, strengthening social cohesion and sustainable development.
The Hellenic Development Bank (HDB) announced today that it has once again taken over the management of the “MY HOME II” program, with a total budget of 2 billion euros, which offers the possibility to 20,000 young people, couples and families to acquire their own first home on extremely favorable terms and subsidized interest rate.
The program is financed by 50% from the resources of the Recovery and Resilience Fund and by 50% from banking institutions.
The following banking institutions cooperate with the Hellenic Development Bank in the specific program: National Bank, Bank of Piraeus, Alpha Bank, Eurobank, Bank of Attica, Cooperative Bank of Thessaly, Cooperative Bank of Karditsa, Cooperative Bank of Epirus, Cooperative Bank of Chania
Systemic banks with announcements state among others:
National Bank – provides additional benefits
As stated by the National Bank in its announcement, the “My Home II” Program, which is aimed at interested persons from 25 to 50 years of age, includes favorable financing conditions, such as:
•Financing up to 90% of the value of the property, for a residence worth up to 250,000 euros with an area of up to 150 sq.m. and old until 12/31/2007.
• Maximum loan amount of 190,000 euros.
•Repayment period up to 30 years.
• Interest-free financing for 50% of the loan amount financed by the Recovery Fund.
• Zero one-time cost of examining a request and granting a loan.
In addition, the National Bank additionally provides:
•Personal guidance at every step of the process by store advisors specialized in the Program.
•’Instant pre-approval and fast disbursement procedures.
• Possibility of additional financing for renovation and/or energy upgrading of the property on preferential terms.
•Double Go For More reward points for every consistent monthly installment repayment.
•10% discount for selected purchases at IKEA stores.
•Free provision of Contents insurance cover (excluding Earthquake) for the 1st year with every new borrower’s Life insurance.
• Possibility of issuing a Credit Card without additional supporting documents.
Also, taking into account the borrower’s need for continuous information, during the procedures until the acquisition of the residence, National Bank provides the possibility of monitoring, at any time, the progress of the application online, through NBG Internet Banking.
Alpha Bank – Special units have been set up that will directly serve the interested parties both through its Branch Network and by telephone remotely.
Alpha Bank, as it states in its announcement, contributing decisively to the effort to deal with the housing issue in Greece and to the realization of the dream of thousands of Greeks to acquire their own residence, participates in the new “My Home II” program. The Bank has set up special units that will directly serve the interested parties both through its Branch Network and by telephone remotely.
The Bank’s customers, as noted, will benefit from the privileged conditions of “My Home II”, such as:
– Financing up to 90% of the value of the property, with a maximum loan amount of 190,000 euros
– Zero interest rate for 50% of the loan
– Repayment in 3 to 30 years
– Possibility of subsidizing the interest by 50% for families with three children or families with two children who will buy a property in the Municipalities of Orestiada, Soufli and Didymoteicho.
– No charge for examining the funding request
In addition, Alpha Bank provides its customers with:
– Low variable interest rate for the interest amount of the loan
– 10% discount for property insurance in Generali’s Alpha Home Insurance Superior program
– Fast service process at every stage of the loan
In his statements, Isidoros Passas, Chief of Retail Banking of Alpha Bank, mentions, among other things, that specialized advisers will serve as a priority those who submit applications through the Branch Network as well as remotely and will guide them throughout the process.
Piraeus Bank – Specific examples
In a statement, it states that the submission of applications for participation in the co-financed “My Home II” program, which includes financing on preferential terms for the acquisition of a first home, began today.
Piraeus, as he points out, participates in the My House II program with a 1-month Euribor rate plus a fixed margin of 1.60%. The interest rate applies to 50% of the loan funds as the remaining half is interest-free due to the co-financing with the Recovery and Resilience Fund. Consequently, the total amount of the loan will be charged with half of the above interest rate.
Example: 1 month Euribor is today 14/1/25 at 2.84%. The customer of Piraeus will today have an interest rate on the total amount of the loan of 2.22% which corresponds to half of the sum of 2.84% Euribor 1M + 1.60%. For an average loan of 100,000 euros with a duration of 30 years, the monthly installment will amounts to 380.72 euros. However, given the downward trend in interest rates, as Euribor falls both the total interest rate and the installment will decrease.
The Bank’s customers can also submit their application online through Piraeus e-banking or be served at any store.
Eurobank-A personal advisor for every customer
Eurobank, the bank with the largest market share in housing loans in Greece, participates in the new “My Home II” program co-financed with funds from the Recovery & Resilience Fund (RAF) and the Bank, supporting the government’s initiative to manage the housing issue, financing the acquisition of a first home on preferential terms. Eurobank also announced its participation in the “My Home II” program, giving the possibility to submit applications until April 30, 2025 (30.04.2025) without loan costs. At the same time, the Bank puts at the service of its customers a new and completely personalized service model with faster and more direct procedures for those who want to buy their own home by obtaining a mortgage loan. Through the newly established Central Mortgage Loan Service Unit, prospective borrowers are given the opportunity to work with a specialized and certified Eurobank advisor, who personally deals with the application for their financing, after the financial pre-approval until the disbursement of the loan. In this way, having his personal advisor by his side at every step, the customer is informed in detail, avoids moving and above all resolves any question or pending matter. As stated in the announcement, with Eurobank’s new service model, the customer, at an important moment such as the purchase of a home, submits his application in the store or via video call and after receiving the financial pre-approval, is served from now on by a specialized personal advisor, who provides: personal support, advisory guidance, direct communication. The customer can communicate with the Bank’s executive directly on his mobile phone during working days and hours, or by email, without the need to visit a store. The Expression of Interest Form is available through eurobank.gr for those who wish to receive general information or make an appointment at a Branch. Alternatively, those interested can call the special service line 211-1908040.
