Project loans are the direction of many customers when choosing an accommodation by the benefits from the project and the program support interest rates from banks.
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The following article will help homeowners understand more about buying a home in associated projects with banks as well as the notes when buying a home.
Why should you buy a house at the project linked with the bank?
According to real estate experts, properly market in 2017 – 2018 is showing positive signs.
“The amount of investment capital, especially foreign direct investment and indirect investment through joint ventures, acquisition of project shares, has increased sharply. This fact shows that the Vietnamese market is very attractive in the eyes of domestic and international investors and in 2018, the market will grow more strongly when many projects will be accelerated by the owner of the project, “said Nguyen Tran Nam, Chairman of the Vietnam Real Estate Association.
As a result, high profitability projects will be available to banks to provide loans to investors in order to provide preferential loans to clients purchasing houses. The interest and favor of banks not only help the real estate market more exciting but also stimulates the market thanks to the bank launched many incentives for home buyers.
The current situation shows that first-time homebuyers are anxious to buy a home while they have no home or land to the mortgage. However, this problem is basically solved by people who can buy a house or apartment on the basis of projects linked to banks and mortgages by the house itself.
3 benefits when buying a house at the project associated with the bank
The first benefit when borrowers buy a house at the project associated with banks is that the project is assessed by the bank. Customers are completely secure about the creditworthiness and financial ability of the investor, ensuring the time to receive the title papers.
The second benefit when buying a home at an affiliate project is that loans are disbursed according to the payment schedule with the investor. Flexible time and fast procedures. Customers have supported interest rates from investors and banks so customers have access to cheap capital and preferential policies privilege dedicated to each project.
The third benefit is that customers can borrow a house and mortgage with the same house. For completed projects, there are full legal documents and conditions for the mortgage at the bank. In this case, banks whether affiliated with the investment bank or not can support you with a mortgage loan. For projects that are still under development without paperwork, you can still apply for an associated bank loan. As these projects have been assessed and evaluated by the bank before cooperation, clients can be assured of the legal basis of the project.
The difference between buying a completed project and buying a project is under construction
When the loan to buy the project has been completed: customers easily access loans at banks because the apartment has full legal documents. The mortgage is a complete home and customers enjoy a number of other incentives. Customers can borrow at different banks and interest rates according to the bank’s policy. However, the downside is that there are very few or no preferential policies from the investors because they have already sold the project then.
Project home purchase is under construction
When borrowing to buy a project house is in the process of construction: Customers are almost borrowing only for a number of projects with the link between the investor and the bank. The loan is then credited to the customer. Customers receive many preferential policies from investors and banks. Interest rate pressure will decrease for buyers.
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