The Government Housing Bank (GHB) in Thailand had announced plans to offer interest free loans of up to THB1M to low income earning new home buyers for the 1st three years. The programme is aimed at providing an affordable housing loans to low income earners and can carry terms of up to 30 years.
The GHB will accpet applications for the interest free loan from 11 Oct 2011 through 30 September 2012 and contracts must be signed with the GHB before the end of 2012. The low income loan programme will include detached homes and properties as well as 2nd hand homes seized by the GHB, which currently has around 10,000 homes for sale.
Many think that this stimulus loan package will help the low income market get their 1st home.