House purchasers to receive Bht 1.5 ml maximum loan from GHBAugust 28th, 2008 - 1:10 pm ICT by Amrit Rashmisrisethi
In the loan-for-housing programs, the Government Housing Bank (GHB) has recently adjusted its current criteria and requirements for qualified loaners to be granted loans for their first home.
The GHB President, Mr. Khan Prachuabmaoh (ขรรค์ ประจวบเหมาะ), reveals that eligible purchasers will be entitled to loans worth up to 1.5 million baht, an increase from the existing maximum loan amount of 600,000 baht.
Mr. Khan says potential borrowers must submit their application for housing loans worth a maximum of 1.5 million baht. He says that loan will be split into two accounts in order to provide borrowers with more advantageous interest rates.
According to Mr. Khan, 7-year fixed-interest rate of 5.893 percent or 10-year fixed-interest rate of 5.913 percent will be applicable to eligible borrowers who are permitted to the first loan account worth below 600,000 baht. After the repayment period is due, borrowers will be subjected to provide a minimum retail rate (MRR) of - 0.50% to the bank.
With the second loan account higher than 600,000 baht but not over 1.5 million baht, borrowers are subject to return interests in accordance with the GHB’s announcement of interest return requirements. Through the separate loan accounts, Mr. Khan attributes that borrowers will also be granted the opportunity to select their house’ location and suitable prices.
Source : National News Bureau, Public Relations Department of Thailand