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Sep. 7--Shopping around for a home loan?
Before committing to any mortgage deal, read the fine print for each bank's payment requirements carefully to avoid the possibility of substantial penalty charges for past-due loans under stricter regulatory guidelines due to take effect Oct 1.
Starting next month, the Bank of Thailand plans to tighten how banks classify non-performing loans.
The changes are expected to lead local banks to take a more stringent approach in dealing with delinquent customers to offset higher provisioning expenses against bad loans.
Under the current system, customers who miss payments for over 90 days are ...