The difficult growth of the COVID-19 pandemic has brought about many localities to have extended social distancing, and other people’s already tough lives at the moment are harder, particularly those that have mortgage contracts from banks to purchase items. dwelling. The decline in revenue makes the mortgage curiosity plus principal with the financial institution changing into a burden for many individuals.
Dwelling mortgage curiosity is a burden for many individuals, within the context of the extended epidemic.
It’s value mentioning that when homebuyers face difficulties as a result of affect of the pandemic, their revenue decreases, however the financial institution’s mortgage rate of interest doesn’t lower but in addition will increase over the time of the mortgage package deal in addition to the rules of the banks. row.
Ms. Dieu Linh, Tan Binh district, HCMC mentioned that in 2018, she borrowed from a financial institution based mostly in District 1 to purchase an residence equal to 70% of the worth of the residence with a median rate of interest of practically 12%. /12 months. Because the outbreak of COVID-19, work has been enormously affected, so revenue has additionally decreased. She mentioned, for the previous few months, she has needed to handle sufficient to get practically 10 million to pay the financial institution.
“I work as a freelancer, so when the pandemic broke out, my revenue was virtually gone, particularly for the previous few months, Ho Chi Minh Metropolis has needed to strictly social distance in response to Directive 16, I’ve virtually no revenue. , however nonetheless need to handle to pay the principal and curiosity to the financial institution. Beforehand, when the COVID-19 epidemic didn’t seem, with the month-to-month principal and curiosity payable to the financial institution of practically 10 million VND, I didn’t have to fret a lot. However now it is actually a burden for me.” Chi Linh shared.
In keeping with Ms. Linh, as a result of she borrows with a time period of 15 years, the rate of interest can also be larger. She additionally contacted the financial institution to ask if the mortgage rate of interest shall be diminished when folks face difficulties as a result of epidemic. acquired the reply that the financial institution doesn’t have a coverage to scale back rates of interest for homebuyers. She mentioned she was very disillusioned however did not know what to do.
“So far as I do know, banks don’t have any difficulties, even they’ve nice income, however they do not care about clients’ difficulties. The epidemic is drive majeure, nobody needs it, nobody can calculate this example when borrowing. At occasions like these, we’d like the financial institution’s sharing to get by means of this tough time collectively.”Linh shared extra.
In the identical state of affairs with Ms. Linh, Mr. Nguyen Huu Nam, Tan Phu district, Ho Chi Minh Metropolis mentioned that he additionally needed to borrow greater than 800 million VND from a financial institution to purchase a 2-bedroom residence within the district, with an rate of interest of greater than 10 %/12 months. Every month, he has to pay the financial institution 14 million dong, each principal and curiosity.
Mr. Nam mentioned that his household runs a restaurant enterprise, when there isn’t any steady revenue, about 14 million VND to pay the financial institution isn’t any downside for him. However for the previous few months, town has repeatedly needed to social distance, the household restaurant has additionally needed to shut to stop the epidemic, no revenue however nonetheless need to pay the lease, so this 14 million quantity is now a complete lot of cash. massive downside.
“I additionally contacted the financial institution to ask for a discount in rates of interest, however the financial institution employees mentioned that they’re processing a whole lot of purposes for debt restructuring and curiosity discount, and the department is presently asking for path from the top workplace. to resolve it, so I do not know precisely how. I hope that the financial institution understands the actual difficulties of shoppers with a purpose to cut back mortgage rates of interest and partially help clients’ difficulties.” Nam hopes.
Financial institution “impassive”?
Consultants mentioned that within the present difficult state of affairs of the epidemic, folks and companies are dealing with many difficulties. Banks which have insurance policies to help companies reminiscent of decreasing rates of interest, extending debt or structuring loans, and many others., should additionally take pleasure in such insurance policies for particular person clients. As a result of the epidemic doesn’t exclude anybody and the difficulties are the identical. Subsequently, banks can not solely help companies however ignore particular person clients, particularly those that borrow to purchase homes.
Though homebuyers are dealing with many difficulties, their revenue has decreased as a result of epidemic, however nonetheless haven’t acquired any share from the financial institution.
Dr. Dinh The Hien – Economist mentioned that whereas most companies had been negatively affected, the revenue of the overwhelming majority of individuals dropped sharply as a result of epidemic lasting practically 2 years, however banks continues to announce massive income.
In keeping with him, that is the insensitivity of banks within the present context. As a result of sustaining excessive rates of interest additionally exhibits the shortage of goodwill of banks in sharing difficulties with their very own clients. On the identical time, Dr. Dinh The Hien additionally urged that banks ought to have insurance policies to increase loans and cut back mortgage rates of interest for a lot of topics to help debtors within the tough context of the present pandemic.
In keeping with the State Financial institution of Vietnam (SBV), with a purpose to help folks and companies affected by the COVID-19 pandemic, the SBV has issued Round 01/2020/TT-NHNN dated March 13, 2020 and Round 03 /2021/TT- NHNN dated April 2, 2021 (amending and supplementing Round 01/2020/TT-NHNN) stipulating that credit score establishments, overseas financial institution branches restructure the compensation time period , exempt, cut back curiosity and charges, preserve the identical debt group to help clients affected by the epidemic.
Accordingly, clients are assessed by credit score establishments to satisfy the next circumstances: Lack of ability to repay principal and/or curiosity beneath the contract on time on account of a lower in income and revenue as a result of affect of the COVID-19 epidemic. -19; With the ability to totally repay the principal and/or curiosity in response to the restructured compensation time period; Loans or monetary leases that incur debt obligations, repay principals and pursuits inside a specified interval (money owed incurred earlier than June 10, 2021, and many others.) shall be thought of and rescheduled by credit score establishments. pay the debt in accordance with the rules.
Nonetheless, the consideration and rescheduling of debt compensation, exemption and discount of curiosity, and many others. fall beneath the competence of the credit score establishment. Subsequently, relying on every financial institution, there are locations the place clients are supported shortly, there are locations which have to attend and reply to many procedures.
At present, the State Financial institution is continuous to gather opinions on the second modification of Round 01/2020, within the path of increasing the scope of debt construction. In keeping with the proposal, the debt restructuring interval shall be prolonged to June 30, 2022 as an alternative of December 31, 2021. The vary of excellent balances eligible for curiosity and payment exemption and discount is prolonged to earlier than August 1, 2021, as an alternative of June 10, 2020 as at current.
