LPN has launched a support model for aspiring homeowners, targeting real demand for residences priced under 3 million baht with the campaigns 'LPN Care' and 'LPN Clear' to address the increasing loan rejection rates.

“LPN believes that helping someone achieve homeownership brings immense happiness and serves as a foundation for a better society,” is the core philosophy that has been passed down through over three decades of developing quality housing projects with the intention of creating homes that are “livable” for everyone.

Mr. Apichat Kasemkulseri, CEO of LPN Development Public Company Limited, stated, ‘Currently, the average approval rate for housing loans stands at 31%, while the rejection rate is at 69%. This is due to the stringent measures imposed by the Bank of Thailand, leading financial institutions to be more rigorous in their loan approval processes, a trend expected to continue this year (according to data from LWS Wisdom and Solutions Co., Ltd.). This situation requires both operators and consumers to adapt. However, there are still solutions for customers wishing to purchase quality housing from LPN who may have the ability to pay but are burdened with debts that prevent banks from approving their loans at this time. They may need time to settle their debts and build a better financial history before reapplying for loans with banks. Alternatively, freelance customers may need to create income and expense statements as supporting evidence for loan approval from banks.

Given these factors, LPN recognizes the needs of real demand facing obstacles in purchasing housing due to the high loan rejection rates from banks. This has led to the company's measures to support customers through the campaigns ‘LPN Care’ and ‘LPN Clear’ to assist customers wishing to buy housing. We have a team of consultants and financial analysis experts available to help manage credit and increase access to home loans, providing an alternative for customers whose bank applications were unsuccessful, allowing them to purchase quality housing from LPN. We expect these campaigns to receive a positive response from many customers until the campaign ends on December 31st.’ Mr. Apichat added.

Details and conditions for the campaigns ‘LPN Care’ and ‘LPN Clear’ are as follows:

  1. Campaign ‘LPN Care’

In cases where customers have submitted documents for loan approval to the bank but the bank is unable to approve, customers can apply for a down payment plan with LPN, signing a yearly contract (maximum period of 2 years)* (*conditions as specified by the company). Customers can move in immediately for ready-to-move-in housing projects (houses and condos) participating in this campaign, which must be priced under 3 million baht. This is to prepare customers financially before reapplying for loans with banks.

  1. Campaign ‘LPN Clear’

To provide more options for customers seeking access to loans and create sales opportunities for LPN, we have developed financial innovations by offering multi-purpose loans (Non-Bank) in cases where banks do not provide full 100% financing or when customers need funds to settle various debts to create a better financial history. The conditions for this campaign include loan approvals of up to 300,000 baht for housing projects (no price limit on the house) and up to 200,000 baht for condominium projects (no price limit on the condominium), with customers required to pay a fixed interest rate of 6% per annum* and can repay over a maximum of 24 months* (*conditions as specified by the company).

For the business goals in 2024, the company plans to launch 6 new projects worth 6.52 billion baht, including 1 condominium project worth 980 million baht and 5 residential projects worth 5.54 billion baht. On March 30-31, 2024, we will open the Pre-Sale for the Lumpini New Nakhon Pathom project, a 2-story townhouse with 3 bedrooms from LPN, located on a main road near Central Nakhon Pathom, starting at just 1.99 million baht, with free!! air conditioning*, free!! 3 years of common fees*, and free!! transfer fees* for those who register for special privileges https://bit.ly/3RbnHqn (only for those who book on the event day). Interested parties can visit the Lumpini New Nakhon Pathom project from 9:00 AM to 6:00 PM.

For those interested in participating in the campaigns ‘LPN Care’ and ‘LPN Clear’, applications can be submitted from today until December 31, 2024. For more details, please call the LPN Call Center at 02-689-6888 or visit our online channels at www.lpn.co.th / Facebook: LPN Connect or Baan Lumpini / LINE OA: @LPNConnect and @baanlumpini.