Can civil servants get preferential loans to buy social housing?
Pursuant to Clause 5, Article 77, Housing Law 2023, the forms of implementation of social housing support policies are stipulated as follows:
- Support preferential loans from the State through social policy banks and credit institutions designated by the State for subjects specified in Clauses 1, 2, 3, 4, 5, 6, 7 and 8, Article 76 of this Law to buy, rent, or build or renovate or repair social housing; for subjects specified in Clause 7, Article 76 of this Law, preferential loans will be provided to buy or rent houses for the People's Armed Forces.
Pursuant to Clause 8, Article 76, Housing Law 2023, the subjects entitled to social housing support policies are stipulated as follows:
- Officers, professional soldiers, non-commissioned officers of the People's Armed Forces, police workers, civil servants, workers and defense officials serving in the army; people working in secret services, people working in other secret services in secret organizations receiving salaries from the State budget they are working for.
- Cadres, civil servants, and public employees according to the provisions of law on cadres, civil servants, and public employees.
According to the above regulations, cadres, civil servants and public employees are eligible for preferential loans through Social Policy Banks and credit institutions designated by the State to buy social housing.
What is the maximum preferential loan level for buying and renting social housing?
Pursuant to Clause 3, Article 48, Decree No. 100/2024/ND-CP stipulates preferential loans for purchasing and renting social housing; construction or renovation and repair of housing at the Social Policy Bank. The loan amount is regulated as follows:
a) In case of buying or leasing social housing, the maximum loan amount is 80% of the value of the home purchase or lease-purchase contract.
b) In case of new construction or renovation or repair of houses, the maximum loan amount is equal to 70% of the estimated value or capital plan, not exceeding 1 billion VND, with a basis for construction investment capital, housing construction unit price of competent authorities and not exceeding 70% of the value of assets guaranteed for loans.
Thus, in the case of buying or leasing social housing, the maximum preferential loan amount is equal to 80% of the value of the home purchase or lease-purchase contract according to the provisions of law.
