Thailand’s Government Housing Bank (GHB) has said it will expand a scheme to offer low interest loans to new homeowners in the South of the Kingdom to THB 1 million.
According to the GHB’s President Angkana Pilanovat Chaimanus, the loan will feature an interest rate of 3.75 percent over the first five-year period. The scheme previously had a budget of THB 500 million, and that amount will be doubled due to its popularity. The loan is now available until the end of November.
A total of THB 497 million was loaned during April, the latest available figures, signaling high demand among the new homeowners in the South, signaling high demand among this demographic.
Angkhana also indicated that the bank will set aside another THB 200 million for loans for apartment owners.
This scheme offers an extra low minimum loan rate (MLR) at 2 percent per annum for the first year, 1 percent for the next four years and the normal rate from the sixth year onwards.
This story was written by Andrew Batt, Group Editor of Dot Property Group. Send your news, views, press releases and comments to him at [email protected].
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