Home loan denials increase to 20% on household debt | Bangkok Post: business

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Home loan denials increase to 20% on household debt

  • Published: | Viewed: 1,451 | Comments: 2
  • Newspaper section: Business
  • Writer: Kanana Katharangsiporn & Wichit Chantanusornsiri
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The overall rejection rate of housing loan applications is now 20%, up from 12% early in the year, due to higher household debt incurred largely by the first-time car buyer scheme, says the Thai Condominium Association (TCA). 

Apa Ataboonwongse, vice-president and secretary-general of the TCA, said most first-time car buyers are at the same level as homebuyers for units priced from 1-3 million baht.

This price range constitutes the biggest group of rejected home loan applications this year, Mrs Apa said after yesterday's meeting of the TCA with major commercial banks.

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