There are all kinds of reasons why home loans... are still not sold!

After the Lao Dong Newspaper published the article "Home loans still unsold" on July 9, many readers responded to the newspaper that they really wanted to get a home loan and were looking for information about preferential loan packages, interest rates... but it was not easy.

Ms. Ngoc Le (residing in Phu Nhuan district, Ho Chi Minh City) said that seeing the low interest rates on home loans, she really wanted to borrow money to buy an apartment but could not because of the collateral.

Specifically, Ms. Le has chosen an apartment near where she rents a house, with a price of about 2 billion VND. This apartment has 2 bedrooms, meeting the needs of the family, close to the children's school and the office where she works. However, this apartment does not have a pink book and is an old apartment and only has a sales contract between the investor and the residents. Therefore, the bank does not accept mortgages for loans, even though she only needs to borrow about 300-400 million VND more.

"I still have two pieces of land in Long An and Binh Phuoc that I planned to mortgage, but the bank did not agree. I bought these two pieces of land during the land fever 2 years ago, each piece cost more than 1 billion VND, but now the price has dropped a lot, and it is very difficult to sell. As a result, I have not been able to borrow capital and am still living in a rented apartment," said Ms. Le.

Ms. Le's case is not rare, many people who are in need of loans to buy townhouses or apartments in Ho Chi Minh City are also in a similar situation.

The need for home loans is always there, but housing prices that are suitable for the borrower's income; conditions for accessing capital and future interest rate trends... are factors that borrowers must consider carefully.

Sharing with reporters, Mr. Nhat Thinh (residing in Thu Duc City) said that he is living in an apartment of about 40 square meters in Di An City, Binh Duong Province, bordering Ho Chi Minh City. Every day, he has to drive about 25km to work, so he wants to move to an apartment closer to the center of Ho Chi Minh City. His family's budget is to find an apartment priced at around 2.5 billion VND, he will borrow about 1 billion VND more.

"However, in the city center or about 10km away, it is almost impossible to find an apartment priced at 2-2.5 billion VND with a pink book to mortgage to a bank for a loan. There are many old apartments with reasonable prices but without a pink book, so the bank does not agree to accept the mortgage.

On the contrary, if I buy an apartment in a project under construction or an apartment building in the future, I am afraid that I will have to pay interest to the bank and not know when the investor will finish building and hand it over. So, the loan interest rate is at a record low, some banks give a grace period of 2-5 years before having to pay the principal, but I still cannot borrow money to buy a house" - Mr. Thinh complained.

According to records, many other people who need to borrow money to buy a house have contacted some banks to ask for loans but are worried that the interest rates are only preferential in the beginning. After that, the lending interest rates will be floating, so they are hesitant.

This explains why lending interest rates are low, banks continuously deploy loan packages with preferential interest rates of only 5-7%/year for the first 6-12 months or fixed interest rate packages of 8-9%/year for the first 2-3 years... but the growth rate of real estate credit is still slow.

Leaders of many commercial banks also commented that current lending interest rates are not the main issue in pushing real estate credit. The important thing is that the liquidity of the real estate market has not returned, so idle money has not flowed strongly in.

Source: https://nld.com.vn/du-kieu-ly-do-khien-cho-vay-mua-nha-van-e-196240711112154588.htm