Many families of civil servants in Khanh Hoa Province have settled down owning to social policy subsidy loans for the home purchase...
Many families of civil servants in Khanh Hoa Province have settled down owning to social policy subsidy loans for the home purchase.
From June 1, 2013 up to now, VCN Investment Joint Stock Company has sold more than 850 policy apartments in five buildings CT7A, CT6C, CT6B, CT6A and CT5 in Vinh Diem Trung Urban Area, Nha Trang. There are many grounds for the good sale. The apartments are well-built and near the city center (only 3 kilometers from Nha Trang Beach). They are also handed over on schedule and sold at reasonable prices. Furthermore, the purchasers can borrow money from banks with stably preferential interests. The policy has helped many civil servants to reach the dream to have their own apartments. Many families have moved to their new flats while many others are waiting for the time theirs are finished and handed over.
Long, who has just received and moved to his apartment along with his wife and daughter in Vinh Diem Trung, happily said, “My family was from a different province. We have come to Nha Trang to work and lived in a rented house for many years. We dreamed to escape from boarding but our income is not high, only VND10 million/month. We daren’t think of owning a house but for the subsidy lending.” Ha, another buyer, shared, “My apartment will be finished in one year. I’m waiting for it eagerly. At first, I was worried about the monthly payment, but the bank I borrowed, Vietcombank, has offered me a flexible payment suitable with my economic situation.”
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| A policy appartment building in Vinh Diem Trung Urban Area, Nha Trang |
As the subsidy lending program encourages policy home purchasing decisions, most of the apartment is under 70 sq.m. in area, one of requirements to access the loans, and VCN Investment Joint Stock Company has cooperated with banks for simple formalities and quick disbursement. Up to now, 490 apartments, making 61.25% of the total, have been got the subsidy loans.
Under the policy, the credit limit is 80% of the apartment’s value, loan term is 10 years, interest rate never exceeds 6%/year (current interest rate: 5%/year), and security is the apartment.
At present, Vietcombank Nha Trang is leading in this kind of lending in Khanh Hoa Province. According to Le Thi Hong Hanh, Deputy Chief of Individual Customer Department of the bank, over one year, Vietcombank Nha Trang has accepted loan applications with the total volume of VND149 billion, VND147 billion of which has been disbursed. Loan documents are simple and disbursement time is short (maybe only 2 days).
Director of the State Bank – Khanh Hoa Branch Doan Vinh Tuong also confirms that the province is carrying out the subsidy lending program for the home purchase well thanks to good supply from investors and positive lending from banks. Up to September 30, 534 out of 550 loan applications have been disbursed with total loans of VND182.1 billion.
T.T
