MAXIMUM LEVEL FOR LEASING AND PURCHASING SOCIAL HOUSES SHALL BE 80% OF THE CONTRACT
Maximum level of purchase, lease or lease purchase of social houses shall be 80% of the contract for purchase, lease, and lease purchase of houses and for borrowers applying for loans to construct social houses for lease purchase, loan term shall be at least 10 years and not exceed 15 years since disbursement of the first loan are the important contents prescribed at the Circular No. 25/2015/TT-NHNN dated December 09, 2015 of the State Bank of Vietnam on instructions on concessional loan for implementation of social housing policies.
Construction of social houses for lease purchase, for sale: Maximum level shall be 70% of total project investment and not exceed 70% of loan collateral. Purchase, lease or lease purchase of social houses: Maximum level shall be 80% of the contract for purchase, lease, and lease purchase of houses. Construction or renovation of houses: Maximum level shall be 70% of cost estimates and not exceed 70% of loan collateral. For the other borrowers as applying for loans to construct houses for lease, loan term shall be at least 15 years and not exceed 20 years since disbursement of the first loan.
On concessional loan interests, the Circular prescribes that concessional loan interests do not exceed 50% of average loan interest rates of all the banks in the market in the same period and concessional loan interest rates for borrowers applying loans for construction of social houses for lease are lower than the rates for borrowers applying loans for construction of social houses for lease purchase, sale.
This Circular takes effect on December 10, 2015.
