Sansiri launches financial planner scheme
Firm poised to enter lower-priced market
SET-listed developer Sansiri Plc launched a financial planner programme to tap first-time homebuyers and freelancers, aiming to capitalise on this growing segment as it will enter the lower-priced condo market this year.
Varangkana Artkarasatapon, chief financial officer, said the programme will help prepare buyers, particularly those with non-salary income and first jobbers whose financial literacy is limited, to own a residential unit through a mortgage loan.
“Three-fourths of our new projects being launched this year will be in the affordable segment or units priced lower than three million baht,” she said. “Some buyers in this segment have difficulties getting mortgage loan approval as they don’t know how.”
Those with emerging careers like online merchants or game streamers want to buy a house but don’t have sufficient knowledge about preparation before applying for a home loan. This segment is on the rise.
According to Bangkok Bank, Kasikornbank and Siam Commercial Bank, the number of non-salaried borrowers of mortgage loans whose careers were related to the online market had a high growth during the past few years.
“This segment is an SME,” said Alongkot Boonmasuk, senior vicepresident, cards and consumer credit business development department, Kasikornbank. “Not all SMEs were in trouble.”
For non-salaried earners, money statements that regularly show deposit and withdrawal or revenue and expense is the most important to get a mortgage loan as it can prove and verify their cash flow, said Mr Alongkot.
“It is now easier for online merchants to get a mortgage loan approval than 10 years ago when e-commerce was very new at the time,” said Kanokwan Jaisri, executive vice-president, alternative channels function, Siam Commercial Bank.
Kelvin Foo, executive vice-president in charge of consumer product development, consumer banking at Bangkok Bank, suggested those wanting to buy a house with a mortgage loan change their lifestyle.
“For off-plan condo, buyers have sufficient time to clear their debts in order that they can get mortgage loan approval more easily on transfer date. For low-rise houses, they should prepare one year in advance as time to transfer is shorter,” Mr Foo said.
According to Sansiri, a rejection rate of those buying units priced three million baht or less was around 30% last year.
As the developer plans to launch four new eight-storey condo projects with units priced lower than two million baht this year, it needs to prepare their buyers earlier to make sure of the transfer rate.
Three-fourths of our new projects being launched this year will be in the affordable segment. VARANGKANA ARTKARASATAPON Chief financial officer, Sansiri