Civil state housing project receives 8,000 loan applications



BANGKOK, 30 March 2016 (NNT) – After two weeks since the launch of the civil state housing project, the Government Housing Bank (GHB) has approved 3.4 million baht in loans to five home buyers.

Senior Executive Vice President of the GHB Credit Business Unit Chatchai Sirilai said the bank is currently considering 300 other loan applicants with a combined loan value of approximately 280 million baht.

Since the project's inception, the GHB has received 8,000 loan applications seeking a total of 6.7 billion baht. The state-run bank was given a budget of 20 billion baht under the civil state housing project to extend credit to low-income earners.

Mr. Chatchai speculated that the loans will no longer be available after April, due to the popularity of the housing project. Loan applicants expressed satisfaction with the project, saying it gives them the opportunity to become homeowners. They compared the monthly mortgage fees to apartment leasing fees.

-- NNT 2016-03-30

Surely they are not 'home owners' until the debt is paid off- in 20-30 years ?

8,000 applications but only 5 approved

8,000 applications but only 5 approved

And I wonder if anybody asked the couple sitting there for their permission to take photos?

And I wonder why 10 staff have to stand and watch?

Seems like a reasonable program if the 837,000 baht average application request goes

toward building accommodation for themselves. However if the money is spent on

lifestyle upgrades in would be money wasted, never to be paid back as there is no

collateral.