Housing credit

Law 4438/28.11.2016  (in Greek only) transposed to Greek legislation Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 (Mortgage Credit Directive – MCD).

The provisions of the above Law include obligations in connection with:

  • Information preliminary to the conclusion of the credit agreement
  • Business ethics standards
  • Minimum knowledge and competence requirements for staff
  • Creditworthiness assessment
  • Property valuation
  • Foreign currency loans and variable rate loans
  • Sound execution of credit agreements.

The provisions of Law 4438/2016 require, among other things, prior authorisation and supervision of housing credit intermediaries, as well as a passport notification by the competent authority of the home country. 

The aforementioned passport notifications should be submitted in English, either by post to the Bank of Greece- Banking Supervision Department, 21 El. Venizelos Str., GR 102 50 Athens or electronically to dep.bankingsupervision@bankofgreece.gr .

The Law also provides that the Bank of Greece posts on its website and updates regularly a register of all housing credit intermediaries authorised by it and a register of all credit intermediaries of Directive 2014/17/EU from other Member States that have notified their intention to provide services in Greece under the “passport” regime.

Here you can find information about the national registers of admitted credit intermediaries of each Member State. 

Bank of Greece Executive Committee Act 137/16.4.2018  (in Greek only) sets out the authorisation procedure for housing credit intermediaries, supervisory rules and the rules governing the activity in Greece of credit intermediaries authorised outside Greece.


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