As a result, hundreds of households of civil servants, public employees and workers in enterprises with low income have accessed preferential loans to buy, build and repair houses, feeling more secure in working and living.

Hundreds of households have stable housing

The family of Nguyen Hong Hanh in Quang Thinh commune, Lang Giang district is one of many cases eligible for soft loans to buy social housing. She and her husband are workers at the Van Trung Industrial Park. Their monthly incomes are not high, so they cannot afford to buy a house.

Many households get preferential loans to buy social housing at the project of Quang Minh Group Joint Stock Company.

In order to conveniently go to work and take care of her two young children, she rented a boarding room in Bac Giang city. However, the rent was not stable. Her couple had to change accommodations a few times in a short period, so they found very hard

In 2018, she obtained a loan of nearly 500 million VND (20,126 USD) from the VBSP at a preferential interest rate of 4.8% per year in accordance with Decree 100. Along with her savings, she bought a 60sq.m apartment at a social housing project in Residential Area No. 1, Hoang Van Thu ward, Bac Giang city. This project is invested by Quang Minh Group Joint Stock Company.

Similarly, the family of Phuong Thi Nhung in Tan My commune, Bac Giang city also received a loan of more than 500 million VND from the bank to buy an apartment in this project with an area of nearly 70sq.m.

Not only getting credits to buy social housing, many households are also entitled to preferential loans for house construction under Decree 100.

According to VBSP Bac Giang, since 2018, the unit has disbursed more than 274 billion VND (over 11 million USD) in loans under the social housing program, with 726 customers posting outstanding loans, an increase of nearly 100 billion VND compared to the end of last year. Of which, outstanding loans for social housing purchase is over 28.5 billion VND with 102 customers, and the remaining 245.5 billion VND is for house building, renovation and repair with 624 customers.

Money disbursed for right persons

Pursuant to Decree 100, those entitled to preferential loans are people with meritorious services to the revolution, low-income earners, poor and near-poor households in urban areas.

The family of Phuong Thi Nhung in Tan My commune, Bac Giang city is entitled to a preferential loan to buy social housing.

The maximum loan amount for social housing purchase is 80% of the contract value; while that for house building, renovation or repair is 70% of the estimated value. The levels are not more than 500 million VND and do not exceed 70% of the value of the collateral.

The maximum lending term does not exceed 25 years from the date of first loan disbursement. However, the borrowers need to submit sufficient documents to prove their sources of income and their ability to pay the debts as committed. They must also have a design, an estimate, or a cost calculation plan in accordance with the law on construction.

Ha Quoc Quan, Director of VBSP Bac Giang, said that over the past years, the unit has regularly directed its specialized divisions and transaction offices to coordinate with authorities at all levels to review and promote widespread dissemination of loan programs to the beneficiaries.

In order to ensure the loans come to the right persons and for the right purposes, the bank's loan delivery has been strictly done on the principles of democracy, publicity and transparency. One month after disbursement, the bank sent professional staff to inspect the house construction and renovation of households, avoiding the misuse of the loans.

For home buyers, the bank has disbursed money to the investor through the purchase contracts of those eligible for loans.

Implementing the social housing loan program, VBSP Bac Giang now continues to evaluate the applications of 54 cases eligible for loans to buy social housing from N02 building project in Bac Giang city developed by 379 Vietnam JSC. The total disbursement in the first phase from now until the year-end is estimated at 21.5 billion VND (865,450 USD).

Bac Giang removes obstacles, puts social housing projects in use

(BGO) – The industry has strongly developed in the northern province of Bac Giang for recent years leading to sharp increase of housing demand for labours. To handle this issue, the province has approved and implemented many social housing projects for workers (SHP) to raise the local investment attraction. The implementation proved initial positive results together with some obstacles.

Bac Giang to pay housing rent support for labours before August 25

(BGO) – The Pemanent Vice Chairman of Bac Giang provincial People’s Committee Mai Son on August 14 inked urgent correspondence No.3936/UBND-KGVX urging to complete the target of Decision No.08/2022/QD-TTg on March 28 of Prime Minister about implementing housing rent support for labours (Decision 08).

99 percent of labours with approved decision receive housing rent support

(BGO) - Implementing Decision No.08/2022/QD-TTg on March 28 of Prime Minister about implementing housing rent support for labours (Decision 08), so far Bac Giang city and three districts of Viet Yen, Yen Dung and Hiep Hoa have received proposals from 596 turns of businesses to support more than 171,200 turns of labours with total amount of nearly 88 billion VND (3.76 million USD).

PM chairs conference on social housing development

Prime Minister Pham Minh Chinh chaired a conference on August 1 to discuss measures to expand social housing facilities for workers and low-income earners.

Housing rent support timely removes difficulties, ensures progress

(BGO) – The northern province of Bac Giang is one of localities gaining positive result in disbursing expenses for labour housing rent support in line with Prime Minister’s Decision No.08 on March 28 2022. However, all sectors and levels have focused on various implementation solutions to ensure the progress of document reception before the deadline of August 15, 2022 to timely pay for labours.