For families who benefit low-cost housing

11.08.2016

Low cost housing

Low-cost housing is an alternative to housing all those households or individuals who are not in the economic and social environment to afford the free-market housing or mortgage offer. The National Housing Authority is assisting these families to secure the purchase of apartments through a two-tier second-class co-operation agreement, providing loans with more relaxed and more affordable terms.

But how should you do it to benefit from low cost housing?

Phase One: This is the declarative stage in which you fill out the form and just state the housing, economic, social and health situation in the municipalities.

Phase Two: This application phase starts only after the municipality has selected you to deal with a social housing program, in this case, a low-cost flat built (or under construction) by the National Housing Authority. To be selected by the municipality for this stage, you must complete, besides the criteria established by the municipality, the income criterion. The latter is given to the municipality by the Entity. The level of household income that a family has to afford to purchase low-cost housing is determined by the Entity, based on the credit conditions of the two banks, with which the Entity has signed a cooperation agreement and specifically BKT and Alpha Banks.

Stage Three: The list of beneficiary citizens, approved by the respective Municipal Council Decision, is sent to the Regional Directorate of the National Housing Authority.

Fourth stage: Citizens selected as beneficiaries of the apartments are officially notified of the procedure to be carried out, the structure of the apartment belonging to the family certificate referred to, the determination of a 10 day deadline for the payment (according to the manner determined by the Council Decision Leader) in the account number made available by the respective ECB Regional Directorate / Branch. The deadline will start from receiving a written confirmation of the notification by the citizen.

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