GHB told to help low-income earners buy homes amid commercial bank tightening
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Finance Minister Apisak Tantivorawong has instructed the Government Housing Bank to find more ways to help low-income earners who are financially capable but cannot buy a home because commercial banks are now strictly scrutinising mortgage applications.
The state bank could offer debt extensions and reduce income requirements to allow for easier access to financing.
One measure will be to divide debtors into two types – low-income earners and people who are unable to secure a home loan from commercial banks that are tightening up on credit analysis amid the economic slowdown.
“The GHB should be able to finalise this week what kind of measures will be introduced, and then the package will be put up for the consideration of the Cabinet,” he said yesterday at an economic seminar arranged by Land and Houses Bank to mark its 10th anniversary.
The proposal from realtors to lower transfer and mortgage fees to 0.01 per cent is being studied by the government, but no conclusion has been reached.
