Sena Development is making strides in the real estate market with the launch of its new product, "LivNex: Rent to Save for a Home," breaking all conventional living rules with a comprehensive financial innovation. This new way of homeownership requires no down payment and no waiting for bank loan approvals, allowing customers to choose their desired SENA projects. By simply signing a rental savings contract, they can move in immediately and even transfer their rights at a special fixed interest rate of 1.8% for 36 months. With 19 ready-to-move-in projects in various locations, SENA is committed to providing everyone with the opportunity to own quality housing while genuinely addressing the problems and needs of all.

Assoc. Prof. Dr. Kesara Thanyalakphak (Dr. Yui), Managing Director of Sena Development Public Company Limited, a real estate developer under the vision of Live Long Trusted Partner, stated that amidst the slow recovery of the economy, coupled with high household debt and inflation, housing prices have risen disproportionately to income adjustments. Additionally, the stringent lending policies of financial institutions have directly impacted the ability to purchase homes, especially for the New Gen and middle to lower-income groups who often face loan rejections. This prompted SENA to develop a financial product that facilitates consumers seeking housing through a new comprehensive financial innovation, "LivNex: Rent to Save for a Home" (Pay like rent, Own like savings), which breaks all living rules and makes it easy for customers to become homeowners by simply paying rent that doubles as savings to offset the principal when they are ready to apply for a home loan.

With LivNex, the rental savings contract divides the rent paid by tenants into two parts: accumulated rental savings and interest. SENA offers a very low interest rate of just 1.8% compared to the market. The contract lasts for three years, and each monthly rent payment will have the interest deducted and accumulated for the tenant until the contract ends or when they are ready to apply for a loan. Customers will be able to purchase their homes at a price that reflects the accumulated rental savings.

For example, for a condominium priced at 1 million baht, a tenant pays an initial fee of 3 months at 12,300 baht, followed by a monthly rental savings payment of 4,100 baht. After deducting interest, the first month's accumulated rental savings will be 2,618 baht, which will continue to grow each month (calculated on a reducing balance basis). After the three-year contract, the customer will have a total accumulated amount of 106,322 baht and will be able to purchase the condominium for 893,678 baht, down from the original price of 1 million baht.

This shows that the price of the home that tenants will purchase at the end of the contract is lower. They have three years to manage their personal credit and increase their income to enhance their borrowing capacity while the loan amount decreases due to the accumulated rental savings. Throughout the contract, SENA will have a team of financial experts available for consultation. If tenants find themselves unable to continue with the rental savings during the contract, they can transfer their rights, including the accumulated rental savings, to someone else (subject to company approval). LivNex is thus another financial product that SENA is proud to offer to genuinely help solve the problem of accessing homeownership.

Dr. Yui also expressed confidence that "LivNex: Rent to Save for a Home" will be a significant aid for customers looking to purchase housing, especially for those who are not yet financially ready and still renting. This includes first-jobbers and freelancers lacking complete financial documentation, who will have access to housing loan advisors to help plan credit improvement during the rental savings period, enabling them to secure suitable loans at the right time. Currently, LivNex offers 19 housing projects from SENA across various potential locations, including Sukhumvit, Ramkhamhaeng, Bangna, Chaengwattana, and Rangsit, covering all price ranges from below 1 million to over 5 million baht.

"Enhancing access to housing for consumers is one of SENA's main missions. We are committed to creating opportunities for everyone to own quality housing that truly meets their needs at an affordable price, while also being part of the solution to social, community, and environmental issues sustainably, in line with SENA's philosophy of 'Standing Together to Create Sustainable Lives,'" Dr. Yui concluded.

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