One in ten applicants is expected to cover the Estia project. The data so far indicate that out of the 6,385 applications submitted in total. The percentage of approvals for possible participation in the Estia project is limited to about 10%.
The applications approved so far are limited to 56.
Specifically, out of the 6.4 thousand submitted applications, the banks have so far sent 5,122 applications for examination to the Ministry of Labor, which is responsible for final approval or rejection. Of these, only 580 applications are in the process of approval, pending data from banks. In particular, 3,287 are complete, 1,477 are incomplete, and 47 have been withdrawn. Another 311 applications concern exceptional cases, which will be sent for approval or rejection to the select committee composed of the Ministers of Finance and Labor. The Ministry of Labor has already sent reply letters to about 1,500 applicants for inclusion in the Home plan. Only 56 are letters of approval, and the rest are letters of rejection.
However, it should be noted that the Ministry of Labor has not yet considered all the full applications so that conclusions can be drawn regarding their approval rate.
Commenting on the percentage of applications that have been approved so far, Marios Stefanidis, Chief Financial Officer of the Ministry of Finance, stressed that it takes time for the Ministry of Labor, which is responsible for implementing the project, for confirming through government data that the applicants do meet the criteria.
It is a process that we must wait to complete, by the end of the month, so that all applications are taken into account, and we can draw our conclusions, said Mr. Stefanidis.
The filtering of borrowers and the emergence of categories such as strategic defaulters and unsustainable borrowers are estimated to be one of the main conclusions and results of the Home plan.
Through the applications' processing, the accusation of the financially unsustainable borrowers who applied for participation in the Home project arises. These amount to about 452, and their applications will be sent to the Ministry of Finance for further processing. The same course will be followed by another 65 applications for restructured loans before the implementation of the Home plan.
Mr. Stefanidis characterized as satisfactory the interest for participation in the Estia project, as he pointed out that about 70-80% of the applications that could be received in total were received.
He expressed the assessment that the plan, through its results, can demonstrate different categories of borrowers, and "from this point of view, conclusions are drawn," he said. He expressly referred to the cases of borrowers who do not consent to the control of their assets, noting that "this means something."
Regarding the category of non-viable borrowers, whose applications have already been forwarded to the Ministry of Finance, Mr. Stefanidis said that "where we can, all the necessary efforts will be made to help non-viable borrowers. He added, however, that we will have to wait to complete the examination of the applications to see their total number.
"The intention is to provide support. The way is something that we have now started to process, but we are still at a preliminary stage ", noted Mr. Stefanidis. "We will look at the characteristics of each case and how we can help with state involvement, as these borrowers became interested and came close by submitting their application," he added.
According to recent reports by the Ministry of Labor's competent body, the state is expected to pay the first installments in December for the loans approved for participation in the Home plan.
The 6.4 thousand applications that have been submitted correspond to non-performing loans amounting to around € 1.9 billion.
The amount that will be subsidized by the state is expected to arise after the restructuring of the loans that will be included in the Home plan and the determination of the monthly installment of the respective restructured loan, 1/3 of which will be covered by the state.