The Ministry of Finance, as part of its policy to mitigate the social impact of non-performing loans, has prepared a Rent vs.
The main purpose of the Plan is to protect the main house from possible sale and to settle the housing NPLs of vulnerable population groups with low or no income.
Beneficiaries eligible to join the Scheme are.000, and
(b) all applicants in the Dormitory and Home Schemes who were or will be assessed as eligible but non-viable with a principal dwelling secured by a market value of up to €350.000.
By decision, the Council of Ministers has approved the Plan, subject to any final amendments required by the European Commission.
The Ministry of Finance, as part of the pre-notification procedure, is already in advanced consultation with the European Commission's Directorate General for Competition on the parameters of the Plan in order to ensure its compatibility with Community State aid rules.
Following approval by the European Commission, the Ministry of Finance will issue a call for expressions of interest to all credit institutions and credit purchasing companies. The participation of all banking institutions and credit purchasing companies will contribute to the success of the scheme as it will not exclude any potential beneficiary and will be a practical demonstration of their corporate social responsibility.
Contents of this article including associated images are owned by PIO
Views & opinions expressed are those of the author and/or PIO
Source
