The property but not the mortgage.


A series of difficulties and obstacles relating to the mortgage housing project formed in the future are bunch of hands both customers and business real estate (DN).

Being “tied hands”

Ms. Phung Thi Anh bought a house in town house project in District 9, HO CHI MINH CITY. HCM. She tells the Mail due to the project owner has finished selling the new undertakings should when buying customers have to pay out 95% of the value of the House, keep only 5% to the window. But she had trouble in the housing mortgage wants to shape the future. The reason is that as a rule, the client cannot mortgage a project conceived in the future to loans (the message of her town house has played 95% of money but not done in the present time).

Specifically, when the mail brought her town house worth more than 7 billion in mortgage loans to projects invested for another project, the Bank was not accepted. “This is absolutely ridiculous! Because I was paying most of the value of the House, is full of the kind of papers such as slip, red Bill and are currently pending certification of land use. So here is the secured property of me, so that I was ironically does not have the right to take your property away in banks to mortgage loans “-Mail she said.

Her Message is also pressing the pressing of many others when want to mortgage his property but not primary. In talks concerning the future formation of housing by the Ho Chi Minh City Law newspaper HCM held recently, the REAL estate, banking, as well as economic experts that the owner or the individual needs the mortgage assets in the future to form a loan is real and completely legal.

But as specified in circular No. 26/2015 of State Bank (SBV) then even the legitimate assets but no window will not be allowed to take away the mortgage loans. Specifically, in paragraph 2 of article 3 of circular provisions: 26/2015 “the owner of the project or home mortgage in form in the future construction of the project at the credit institutions to loans for investment projects or building in it “.

Rigid rules as on the main cause of the real estate company and the customer gets “tied hands tied the legs”. The General Director of a property company are implementing projects in District 2 analysis: Has the project investment value up to a thousand billion, needs sources added other secured asset is common. But the paradox is that the Bank only received additional mortgage for the project, the property was granted land use right certificate. Meanwhile the property owned by the investor as the garage, commercial centre, apartment in another project … not be used for mortgages.

“This is an incredibly huge barriers for business”-on the company leader stressed.

Fellow, Mr. Nguyen Van Males, Deputy Director of the real estate company the land Heal, or have the case project A difficulty in getting financing due to market factors, such as the slow consumption. However, it is the potential project should still want to continue investing FIRMS to complete. In this context that the GOV’T cannot mortgage by legal property in a project conceived in the future other (project B), then project A above only … up passport is waiting to die.

Need to remove the knot |

Mr. Nguyen Van Hai, Director of the Oriental Bank legislation, admitted it was one of those nodes make REAL difficulties in raising capital. Leading examples of some REAL difficulties in case of mortgage collateral, he tells Navy: have the DN formerly Bank lending in the form of trust. After some time due to business losses, the loan fell into debt and non-revolving credit guarantee Bank accept that request the secured property. In these cases, the COMPANIES apparently remained unsold flats as property, commercial center has not yet signed a contract for hire … but still cannot take away the pledge, mortgage.

“They wonder why we have secured property which cannot be mortgage. This is a real problem “-he, Hai said.

To remove this difficulty, Mr Hai suggests that the authorities need to research any modification in circular No. 26/2015 in the direction of: approves letting the property formation in future that appropriate legal provisions are meant to ensure mortgage financial services for individuals and COMPANIES. “By the law has clear regulations to make transfer transactions for property that DN gave the mortgage COMPANIES must accept that property”-he Hai explains more.

Meanwhile Mr. Bui Quang Tin, bank finance expert, commented 26/2015 circular has not recognized the right of property is property such as article 105 CC 2015. I.e. in this circular have yet to recognize the property rights of borrowers who are located in another project.

“While in principle in the Civil Code stipulated that property rights 2015 entirely mortgages, pledge in a financial organization”-he Credits said.

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