ID :
211813
Sat, 10/08/2011 - 13:42
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http://m.oananews.org//node/211813
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Thai government offers loans to first-time house owners
BANGKOK, October 8 (TNA) - Thailand’s Government Housing Bank (GHB) will start providing loans with low interest rates to local first-time house owners from October 11, 2011 until September 30, 2012, with lending contracts to be all concluded within December 31, 2012.
Under the government-sponsored programme, initiated by the ruling Pheu Thai Party and covering newly-built houses with their situated plots of land and condominiums, as well as second-handed houses and condominiums under GHB non-performing assets (NPA) schemes, GHB President Woravit Chailimpamontri said on Saturday that his bank has set aside 20 billion baht for people wishing to borrow money to buy their first houses with a zero per cent interest offered for the first three years, but the prices of their houses are limited to no higher than one million baht per unit with the maximum repayment period set at 30 years.
Woravit revealed that from the fourth to the seventh years, the lending interest rates for the borrowers are to be generally calculated based on the minimum retail rate (MRR), but for a special group of GHB borrowers, called welfare clients, will be offered to pay the MRR minus 0.50 per cent yearly. From the eighth year onward, the borrowers are to generally pay the MRR minus 0.50 per cent yearly; while the welfare clients will pay the MRR minus 1.0 per cent.
Presently, the GHB's MRR is equivalent to 7.25 per cent annually. The GHB president insisted that the borrowers must not own any house or condominium before. (TNA)
Under the government-sponsored programme, initiated by the ruling Pheu Thai Party and covering newly-built houses with their situated plots of land and condominiums, as well as second-handed houses and condominiums under GHB non-performing assets (NPA) schemes, GHB President Woravit Chailimpamontri said on Saturday that his bank has set aside 20 billion baht for people wishing to borrow money to buy their first houses with a zero per cent interest offered for the first three years, but the prices of their houses are limited to no higher than one million baht per unit with the maximum repayment period set at 30 years.
Woravit revealed that from the fourth to the seventh years, the lending interest rates for the borrowers are to be generally calculated based on the minimum retail rate (MRR), but for a special group of GHB borrowers, called welfare clients, will be offered to pay the MRR minus 0.50 per cent yearly. From the eighth year onward, the borrowers are to generally pay the MRR minus 0.50 per cent yearly; while the welfare clients will pay the MRR minus 1.0 per cent.
Presently, the GHB's MRR is equivalent to 7.25 per cent annually. The GHB president insisted that the borrowers must not own any house or condominium before. (TNA)
