GHB ready for home loan extension to low income earners
Oct 28, 2015 6:47:24 GMT 7
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Post by Soutpeel on Oct 28, 2015 6:47:24 GMT 7
The Government Housing Bank (GH Bank) says it is now ready to extend home loans amounted to 10 billion baht to low-income earners in response to the government’s announcement to boost the real estate sector.
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HB president Angkana Chaimanat said that the bank is ready to execute the 10 billion baht home loan project as earlier announced by the government to enable low income people to buy homes.
She said the loans will be extended to buyers of second-hand house and house priced below 3 million baht as well as fist time home buyers.
She expressed confidence that the scheme will not raise the level of bad debt as the loan term is capped at 30 years.
She also said that the bank is ready to relax the term if there is sign that home buyers are unable to repay their mortgage.
Loan condition will also be ease to enable low-income earners to apply for a higher amount of home loan.
She said income earner of a mere 10,000 baht per month can now apply for a home loan of up to 1 million baht, up from 600,000 baht previously.
Earner of 20,000 baht per month can now seek a home loan of up to 2 million baht, up from 1.2 million baht previously while those with net income of 30,000 baht per month can apply for up to 3 million baht worth of home loan from the bank, she said.
According to the GHB president, mortgage borrowers will be charged an interest rate of 3.5 percent in the first year and 4.25 percent in the second year. From the third year, the interest rate will be at MRR minus 0.75 percent.
GHB has also lowered the rate of loan repayment for mortgage borrowers under the scheme.
Repayment rate for borrowers of up to 1 million baht home loan is only at 5,000 baht per month.
Application for the home loan will open next Monday.
She added that if there is high demand, the bank might consider increasing the earlier target of 10 billion baht for the scheme.
englishnews.thaipbs.or.th/ghb-ready-for-home-loan-extension-to-low-income-earners
Attachment Deleted
HB president Angkana Chaimanat said that the bank is ready to execute the 10 billion baht home loan project as earlier announced by the government to enable low income people to buy homes.
She said the loans will be extended to buyers of second-hand house and house priced below 3 million baht as well as fist time home buyers.
She expressed confidence that the scheme will not raise the level of bad debt as the loan term is capped at 30 years.
She also said that the bank is ready to relax the term if there is sign that home buyers are unable to repay their mortgage.
Loan condition will also be ease to enable low-income earners to apply for a higher amount of home loan.
She said income earner of a mere 10,000 baht per month can now apply for a home loan of up to 1 million baht, up from 600,000 baht previously.
Earner of 20,000 baht per month can now seek a home loan of up to 2 million baht, up from 1.2 million baht previously while those with net income of 30,000 baht per month can apply for up to 3 million baht worth of home loan from the bank, she said.
According to the GHB president, mortgage borrowers will be charged an interest rate of 3.5 percent in the first year and 4.25 percent in the second year. From the third year, the interest rate will be at MRR minus 0.75 percent.
GHB has also lowered the rate of loan repayment for mortgage borrowers under the scheme.
Repayment rate for borrowers of up to 1 million baht home loan is only at 5,000 baht per month.
Application for the home loan will open next Monday.
She added that if there is high demand, the bank might consider increasing the earlier target of 10 billion baht for the scheme.
englishnews.thaipbs.or.th/ghb-ready-for-home-loan-extension-to-low-income-earners
