For an additional 12 months, variable interest rates on housing loans freeze

It is recalled that the limit was introduced by banks in 2023, and will remain valid until Spring 2025, according to ERT. More specifically, the freezing of payments on variable-rate housing loans for another year, banks progress, protecting consistent borrowers. It is recalled that in all serving housing loans with variable rate contracts, monthly instalments have remained stable since last June, following the activation of the relevant protection programme by banks. This decision had been made last year, due to the aggressive increases in the ECB’s indicators, as part of its inflation policy. 12 months extension The program had an initial duration of 12 months, i.e. ended this May. However, since the ECB’s interest rates remain in their historically high and their de-escalation will be delayed, the banks chose to extend the programme for another year. A communication was issued yesterday by Eurobank, and the other banks are expected to follow. According to it, monthly instalments of all housing loans that will continue to be normally served will remain stable until the summer of 2025, regardless of the course of the European benchmarks. By then it is estimated that the ECB will have significantly reduced its interest rates and by the end of the programme, payments will have returned to the pre-crisis levels. It is noted that according to its initial conditions, all of the following loans are automatically included in the support programme: They have been disbursed by the end of 2022. They are linked to European indicators (euribor, ECB, saron). Adjusted or not will show no dues up to 2/5/23. The dose ceiling will apply for an additional 12 months, provided that loans do not occur at this time. In other words, it will apply to payments paid by May 2025. If, during the 12 months of the programme, the base rates are reduced by the Central Banks to levels lower than those provided for in the programme, then the lowest interest rate for the benefit of borrowers will apply.