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Home mortgage deals likely to tighten as funding costs rise.
Sep. 1--Don't expect banks to offer zero-interest home loans except in the rare promotional gimmick, as funding costs for lenders continues to rise with interest rates, said Charlotte Donavanik, an executive vice-president of the Bank of Ayudhya.
"It's not possible for banks to offer such zero interest [loans] even if housing developers subsidise the interest burdens for homebuyers" she told a roundtable held by Post Today yesterday. "Banks can't fix their costs of funds, and interest rates are going to climb up."
The "zero interest" attention grabber may occasionally be seen as a gimmick at big housing fairs, she said, but the grace period will be ...
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...measures to curb high interest rates charged by credit...about excessively high interest rates, hidden fees and...notice of changes in interest rates or payment conditions. To see more of the Bangkok Post, or to subscribe...
Source: HighBeam Research, Home mortgage deals likely to tighten as funding costs rise.