As the floods recede, large developers are continuing to help their customers by working with banks to provide financial aid in the hope homebuyer confidence resumes next year.

Listed developer Land Houses Plc (LH) decided to offer 500 million baht worth of one-year no-interest loans for housing renovation to its customers at all of LH’s projects that were affected by the floods.

Siam Commercial Bank will handle the loans and LH will be responsible for the interest payment, said LH senior vice-president Adisorn Thananan-narapool.

SCB started the programme last week and noted any SCB customers at LH projects qualify for loan payment suspension for up to six months and a discount of up to 50% on interest rates for three months.

SCB customers can ask for additional loans of up to 120% of existing credit loans for home renovation. No interest will be charged for three months.

Prasert Taedullayasatit, chief business officer of listed developer Pruksa Real Estate, said it requested all financial institutions offer assistance to those Pruksa customers whose residences were damaged by the massive floods.

Assistance can include interest rate cuts, loan repayment suspension from six to 12 months and special loans for home renovation.

Pruksa spent 130 million baht to repair utilities and facilities at over 60 of its current and planned projects.

“If the government develops a clear plan for water management, housing sentiment will improve,” said Mr Prasert.

Did you know?

You can subscribe to free e-newsletters and receive e-mail alerts when other people leave
comments in articles after you did. Click here to take full advantage of the alerts!

About the author

Writer: Kanana Katharangsiporn
Position: Business Reporter