Borrowing to buy a house is getting harder and harder
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Loading... - Melati Supriadi
- 01 Jul 2022
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The spirit of the draft amending and supplementing a number of articles of Circular 39/2016/TT-NHNN regulating lending activities being consulted by the State Bank is to continue to control credit in real estate. (real estate) for the loan to pay the deposit. In the context that the credit limit (room) at commercial banks is exhausted, not only borrowers buying real estate for speculation and surfing have difficulty but also borrowers buying houses to live in may also be affected.
Buy new life insurance disbursed!?
As noted by reporters, at some commercial banks, home loan interest has increased by 1 percentage point per year compared to the end of last year and is a significant increase in the past few years. In addition, borrowers also have little choice of credit packages for home loans, especially when they often have to buy life insurance to be easily disbursed.
Mr. Tran Vu (living in Go Vap District, Ho Chi Minh City) just breathed a sigh of relief when a commercial bank disbursed a loan of 1.2 billion VND to buy an apartment in District 8. To be disbursed for this loan, he must Waiting anxiously because the bank announced that the room was out of room, only when the borrower repays, the disbursement will continue. "I borrowed about 1.2 billion VND to buy an apartment to live in but had to disburse it in 3 installments, the owner impatiently demanded to pay for the contract. This apartment project is only linked with 2 commercial banks, so I don't have much. The interest rate of the bank I borrow is 9.4%/year, preferential for the first 6 months, from the 7th month, the interest rate is about 11%/year; the other bank's lending interest rate is up to 12%/year. five" - ​​Mr. Vu said.
And yet, to disburse this home loan, Mr. Vu has to pay a withdrawal fee of 1.5% of the total loan amount (about 19.5 million VND), otherwise he will have to buy life insurance.
Similarly, Ms. Bich Phuong (living in Binh Thanh District, Ho Chi Minh City) said that to buy an apartment in Binh Thanh district in the form of a bank guarantee for the project with the amount of about 1.4 billion VND, she had to pay extra money for fire insurance, loan insurance.
"I have borrowed to buy an apartment before, so I know fire insurance, but I don't know what is loan insurance up to 1%. The banker explained that loan insurance is the amount that must be paid before paying for a loan. disbursed to ensure that the customer would not cancel the loan while doing the paperwork, the banker also persuaded me to pay an additional 3 million dong so that I would not have to pay the loan insurance but convert it into a life insurance policy. The reason was that the branch was running life insurance sales, the staff also had to invite customers to buy it. When I was adamant about not buying life insurance, this employee still switched loan insurance to life insurance policy in 1 year, take the commission fee to make up for the difference that the customer does not pay "- Ms. Phuong reflected.
Impact of rising house prices
Talking to a reporter from Nguoi Lao Dong Newspaper , leaders of some banks admitted that they were "waiting" for a new credit room, so not only loans to buy real estate but also loans from production and business enterprises. also have to wait in line.
Mr. Trinh Bang Vu, Head of Retail Banking - Shinhan Bank Vietnam, analyzed from a management perspective that the State Bank's direction of credit capital flows into the right fields of production and business and still creates favorable conditions for customers. conditions for people with real needs to buy a home is a positive signal. Because, if you do not control real estate investment loans to surf or loans of great value while the credit room is limited, the borrowers buying houses to live in will suffer. Read More...
