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October 18, 2019
BUSINESS

Eurobank invites borrowers to apply for primary residence protection scheme

Eurobank will soon invite around 35,000 borrowers with non-performing loans to begin procedures for inclusion in a new law on primary residence protection, Theodore Kalantonis, deputy CEO of the bank told the Athens-Macedonian News Agency (ANA) on Wednesday.

In an interview, Kalantonis, responsible for managing the non-performing loans portfolio of the bank, said: “In the next few days we will send letters to borrowers meeting the criteria for inclusion in the new law, with a total debt of around 2.0 billion euros, offering the best possible information over the the new law. Eurobank has launched a pilot information programme in early July through telephone messages and now we will offer information to everyone eligible for inclusion in the primary residence protection law”.

The electronic platform for applications has attracted more than 76,000 users in its first two months of operation and 16,200 borrowers have begun application procedures. A total of 26 applications have been completed and last week banks offered the two first debt settlement proposals to borrowers. September is a crucial month for acceleration of procedures in the implementation of the new law, Kalantonis said, adding: “The law for subsidising the monthly loan tranche is a unique opportunity for those who really want a permanent solution for their loans”.

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