Cabinet Agreed to Grant GHB to Adjust The Loan Framework for the Million-House Project.
12-3-2019—Mr.Nuttaporn Jatusripitak prime minister office ……acting as economics and social spokesman disclosed after cabinet meeting that
The Cabinet approved the Government Housung Bank to adjust the loan framework of The Million-House Project by adjusting the loan amount for the group of whose income not exceeding 25,000 baht / person / month from the original loan limit of 20 billion baht to 40 billion baht and reduce the loan framework for income groups exceeding 25,000 baht / person / month from the original framework loan amount of 30 billion baht to 10 billion baht in order to meet more needs of the public customers who come to reserve the loan rights of The Million Home Project with the extension of the legal juristic act within December 30, 2021.
The latest up date of March 11, 2019, found that there are more than 4,100 public customers who have come to contact to apply for a loan in the total amount of 2.56 Billion for there total 3,580 dream homes, the total loan amount lended is 2.2 billion baht.
Mr. Chatchai Sirilai, the president of the Government Housing Bank (GHB), said that the cabinet meeting today (12 March 2019) agreed that the bank proposed to adjust the loan framework of the million-house project under the framework of the budget has approved the original amount of 50 billion baht by adjusting the loan amount for the income group not exceeding 25,000 baht / person / month from the original loan amount of 20 billion baht to 40 billion baht and reduced the loan frame for the groups whose income exceeding 25,000 baht / person / month from the original loan amount of 30 billion baht, reducing to 10 billion baht, in order to meet the needs of the public customers nationwide who come to reserve the loan rights of the million homes project, no more than 1 million baht each on 23 December 2018, with a total amount of up to 127 billion baht, found that the income group is not more than 25,000 baht / person / month, accounted to 113 billion baht which the group of income exceeds 25,000 baht / person / month. There are only 14 billion baht reserved for rights holders.
In addition, the extension of the legal juristic act from the date of December 30, 2019 is extended until the bank gives full credit. The project limit of 50 billion baht or by 30 December 2021, after which the bank began accepting loan applications from 2 January 2019, latest as of 11 March 2019, found that people are gradually getting into contact responses by customer loan requests totaling over 4.1 billion baht and Bank has approved 2,560 loans lending contracts to customers for there dream home of their total loan income 3,580 2,200 Million Baht.
“The extension of the duration of the juristic act to be made by December 30, 2021, in order to allow people to have time to prepare the documents showing the source of income in order to supplement the loan. Because after the bank opened to submit the loan from 2 January 2019, it was found that many people were self-employed or No documents showing clear income By requesting a consultation with a loan officer to prepare documents that need to be submitted to the bank for each loan purpose And each profession can be found at every branch of the Bank of Thailand. At the same time, operators will have more time to build housing at a price of not more than 1 million baht to support the demand of this group of people. “Mr. Chatchai said.
The Million House Project Set interest rates for retail customers Lend to buy Or building a residence And purchase equipment or facilities related to housing, the price is not more than 1 million baht, installments can be up to 40 years, the interest rate is divided into cases in the amount of not more than 25,000 baht / person / month, interest rate year 1 – year 5 fixed at 3.00% per year in case of 1 million baht loan, first 5 year installment starting at only 3,800 baht with free fee (4 free) including 1. Free loan submission fee 2. Free appraisal of collateral 3. Free registration fees, rights and juristic acts, and 4. Free registration fees for mortgage acts (1% of the mortgage amount) in case of income over 25,000 baht / person / month, interest rate, 1st year, 3rd year, fixed 3.00% per year, loan 1 Million Baht, 3-year installments, starting at only 3,800 baht.
