The National Housing Authority has announced debt restructuring measures for customers who have direct purchase agreements with the authority and those under the housing development loan program for low-income earners. This initiative aims to alleviate the financial burdens of customers facing liquidity issues, enabling them to manage their debt repayments. The measures will be effective from now until December 27, 2024.

Mr. Thaveepong Vichaidit, Governor of the National Housing Authority, stated that the Cabinet has approved a comprehensive approach to address both formal and informal debts, including restructuring the lending system and loan guarantees to assist debtors facing financial difficulties and insufficient income to meet their obligations. The National Housing Authority is therefore implementing measures to restructure debts for customers with direct purchase agreements and those under the housing development loan program for low-income earners. This initiative aims to help buyers manage their housing debt in line with the government's policy to create opportunities and reduce disparities in housing access, while also elevating housing to a basic right accessible to everyone.

The debt restructuring measures for customers with direct purchase agreements and those under the housing development loan program will apply to both those with overdue debts and those without. Measures include reducing interest rates and extending the contract term for buyers up to 40 years, provided that the total age of the buyer does not exceed 75 years. The restructuring measures will be in effect from now until December 27, 2024, with conditions set by the National Housing Authority. Customers with both types of purchase agreements can contact their local housing office or the metropolitan housing office in their project area for more details, or call the Call Center at 1615.

Mr. Thaveepong further noted that since Thailand has faced the COVID-19 pandemic, the costs of various operations and living expenses have continuously risen. Many individuals and families have experienced financial liquidity issues and insufficient income to meet their debt obligations. Therefore, the National Housing Authority's debt restructuring measures will serve as a solution to help customers manage their housing debts while still being able to own their homes. Owning a home is a form of stability in life and brings happiness to families living together, aligning with the National Housing Authority's vision of "Building Homes, Creating Happiness for a Better Quality of Life."