Thailand's central bank has relaxed mortgage lending rules to help certain home buyers borrow more and make lower down payments, a deputy governor said on Monday.
Under the changes, effective on Monday, the central bank will allow buyers of first homes worth less than 10 million baht ($329,489) to borrow an extra 10% for furniture, Ronadol Numnonda told a briefing.
Buyers of second houses worth less than 10 million baht will be allowed to make a downpayment of 10% if the mortgage on the first home has been paid off for at least two years, versus three years, required earlier, otherwise, a 20% downpayment will still apply. (1 = 30.35 baht)
Published 20 January 2020, 07:38 IST