On April 18, 2019, Mr. Chatchai Sirilai, Managing Director of the Government Housing Bank (GHB), revealed that the bank is preparing a housing loan package with a budget of 30 to 50 billion baht to propose to the new government. Once in office, they can immediately proceed with the housing loan project to assist citizens seeking housing. This loan package will cover all customer groups, including low-income individuals, salaried employees, and the elderly.

          For low-income loans, the bank will push forward the second phase of the Million Houses project, allowing over 127,000 registrants to access loans by the end of 2019. There will also be loans available for middle-income earners or salaried employees seeking housing loans of 2 to 2.5 million baht, primarily for urban housing, who cannot access the Million Houses project, with a special interest rate not exceeding 3%.

          For the elderly, GHB is working on a reverse mortgage project with a pilot budget of 1 billion baht, allowing seniors to use their debt-free homes to enter the program and receive monthly loans for living expenses. Currently, they are considering increasing the loan-to-value ratio from 50% to 75%. However, if the project proves unpopular due to complications in the resale of homes by the elderly, GHB may consider outright purchases, allowing seniors to use the funds to buy lower-priced housing and use the loan difference for living expenses.

          "GHB's loan disbursement in the second quarter is expected to slow down due to several long holidays and the implementation of the Bank of Thailand's housing loan control measures. Therefore, GHB needs to prepare loan packages to propose to the new government to stimulate housing loans for future growth," Mr. Chatchai stated.

          In the first quarter of 2019, GHB disbursed a total of 42 billion baht in new loans, within the forecast range of 40 to 45 billion baht. The first quarter saw a significant acceleration, especially in March, when 19 billion baht was disbursed, attributed to the Bank of Thailand's measures that took effect on March 30 and GHB's low-interest loan program fixed at 2.79% for three years, which attracted many customers.

          Mr. Chatchai also mentioned that on September 16, 2019, GHB expects to launch its first lottery with a total budget of 20 to 26 billion baht, selling to the public at 1 million baht per unit, with a return of 1.4% over three years, limited to five units per person. It is anticipated to receive a positive response and sell out, as there will be incentive prizes, with 20 prizes drawn monthly, totaling 720 prizes over three years. Following this, they will sell units at 10 million baht each, with the buyer's name indicated on the ticket, and joint purchases allowed, with a budget of 30 billion baht. In early 2020, they will start selling tickets to individuals at 100 baht each.

 

Thank you for the information from www.thaipost.net