Consumer Protection Agency to Enforce Regulations Requiring Real Estate Companies to Refund Customer Deposits if Bank Loans are Denied

The Office of the Consumer Protection Board (OCPB) is preparing to invite both small and large real estate businesses to reach a mutual understanding regarding the issue of retaining customer deposits or reservation fees when customers are denied loans from commercial banks due to insufficient repayment capacity.

 

The OCPB plans to establish regulations mandating real estate operators to refund deposits or reservation fees to customers in all cases. This decision comes after receiving numerous complaints about such practices, as consumers have faced significant hardships. The deposits or reservation fees for homes can amount to several thousand to tens of thousands of baht.