MORTGAGES FOR POOR SCHEME GETS BUDGET BOOST

Real Estate March 13, 2019 01:00

By The Nation

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Deputy Prime Minister Somkid Jatusripitak has ordered Government Housing Bank to launch a second phase of mortgage loans for lower-income people after the first phase succeeded in getting more applications than expected. 



“I will visit Government Housing Bank next week and get more details on the second phase of the mortgage loans for lower-income people nationwide,” he said.

Meanwhile, the Cabinet yesterday approved a budget revision for mortgage loans to customers whose income is not over Bt25,000 per month. The budget has been doubled to Bt40 billion from the previous Bt20 billion, with mortgage loans ratcheted down from Bt30 billion to Bt10 billion for those with incomes above Bt25,000 monthly.

This follows market demand, spokesperson attached to the deputy prime minister, Nattaporn Jatusripitak, said yesterday.