The amount of loans requested under the government’s first-home mortgage scheme, undertaken by the Government Housing Bank (GHBank), for the first three days has reached almost 15 billion baht, according to Finance Minister Korn Chatikavanij.
According to Mr Korn , the scheme has received very good feedback from first-time home buyers. A total of 9,980 people have handed in their loan applications to the GHBank nationwide during the first three days, from 9 to 11 May 2011. Altogether the loans, averaging 1.45 million baht each, were worth 14.57 billion baht.
The minister noted that all the loans are expected to be approved by the bank within three weeks.
As for the 10 billion baht left under the project, Mr Korn expected that it would all be applied for in the next two months; however, the government might decide to allocate additional budgets for the scheme if it was called for by the people.
The minister is also confident that the new government will carry on with the first-home mortgage scheme as it truly benefits all Thai people.