The Prime Minister has promulgated Decision 33/2015 / QD-TTg on housing support policy for poor households according to the poverty line in 2011 – 2015, effective from 1 October.
Accordingly, households belonging to poor households who do not have houses or already have houses, but houses are too temporary, damaged, dilapidated, are in danger of collapsing and are unable to improve their houses themselves; No support from the State’s supporting programs and policies, other socio-political organizations, etc. will be borrowed at the maximum of 25 million VND per household from the Social Policy Bank. renovate or repair houses.
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The interest rate is 3% / year; The loan term is 15 years, of which the grace period is 5 years; The maximum repayment period is 10 years, starting from the sixth year, with a minimum annual repayment of 10% of the loan amount.
After being supported, households must build new houses or repair and upgrade existing houses, ensuring a minimum floor area of 24 m2 (for single people without support, building house with smaller area but not lower than 18m2) and must ensure hard ground, hard-wall, hard roof, safety when storms, whirlpools; Longevity of house for 10 years or more.
Households that are supported to build or repair or upgrade their houses shall be granted land use right certificates, house ownership certificates and other assets affixed to land according to regulations. However, only after the loan (both principal and interest) has been fully repaid to the Social Policy Bank.
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This is a regulation to support housing for about 311,000 poor households in rural areas, ensuring safe and stable housing, step by step raising living standards, contributing to sustainable hunger eradication and poverty reduction.
You are reading the article “Borrowed Up To VND 25 Million To Build And Repair Houses” in the section “Real Estate Law” on the website: https://realestatevietnam.com.vn/.
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