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Economy

Greece Launches E-Platform for Mortgage-Loan Subsidy Program

ATHENS — The Greek finance ministry on Monday 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.

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 pct of a monthly loan tranche (up to a ceiling of 600 euros) in the first quarter, 80 pct in the second quarter and 70 pct in the third quarter. The program is designed to reward conscientious borrowers hit by the pandemic, limiting the risk of creating a new generation of non-performing loans, 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.

 

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