BANGKOK – As another economic stimulus measure for the real estate sector, the Government Housing Bank (GHB) has introduced low-interest housing loans with 2.5% interest. The financial product has received good feedback from many prospective home buyers, who will be charged only an average of 2.5% interest over the first 3 years of repayments. The bank is aiming to approve a total of 50 billion baht in loans by the first quarter of 2020.
The GHB has today started accepting loan applications for its low-interest housing loans with 2.5% interest. Many people visited the GHB headquarters in Bangkok this morning to inquire about the new loan offer. Most of the clients said this loan will help making prospect house buyers’ dreams come true, especially young people starting their career or starting their family.
“I have taken some time to make the decision, but once this policy was introduced, it’s much easier to decide. No house buyers want to pay hefty interest on their mortgage. This new measure can significantly help cut interest costs. This loan is now offering the lowest interest rate in the market, making it not difficult at all to choose.”
The GHB’s President Chatchai Sirilai stressed this measure will make it easier for house buyers to have their own home at a price appropriate to each client’s payback capacity, as this loan offers the lowest in market. Certain fees, such as asset transfer and mortgage registration fees, have also been discounted to reduce house buyers’ burden.
“At the same time, the government has introduced a tax and fee discounts campaign, reducing asset transfer and mortgage registration fees from 3 percent to 0.02 percent, reducing duties for a 1 million baht loan from 30,000 baht to only 200 baht, or for a 3 million baht loan, the duties will be reduced from 90,000 baht to 600 baht. We have talked about these measures with our customers, and they’ve told us this makes it easier to purchase a house, and will help them reduce monthly payback costs and duties when purchasing their very first home.”