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Poor response to home loan scheme

The Government Housing Bank (GHB) is to discuss the government’s first-home loan scheme with the Finance Ministry after the scheme failed to attract the expected numbers of people buying their first home.

Friday 2 March 2012, 04:10PM


The scheme provides for mortgages with zero interest for the first three years for first-time buyers who buy homes costing less than B1 million.


GHB President Worawit Chailimpamontri said that since the scheme was launched in October, loan requests
received have totalled just B2 billion – about 2,000 buyers nationwide.


He theorised that the scheme had probably not attracted many borrowers because of the impact of the heavy flooding late last year, and because of some of the scheme’s conditions.


He said the bank will hold discussions with the Finance Ministry before the end of March to iron out any problems in order to boost lending. This might include an adjustment to the conditions.


–TAN

 

 

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