Home Retention Review

A simple-to-understand house retention review for someone who has been home for three years with Thos is 3.75 out of 5.7.

1. What is retention?

This is to reduce the interest on the loan with the same bank that we are installing. Normally, after three years of instalment, the interest will usually be adjusted from the first promotion to the floating rate, which will be much higher. Retention will help us return to the lower interest rate.

2. Compare interest

Retention obviously reduces the burden of interest per month, as follows:

Before retention: Assuming a debt balance of 1,900,000 baht, 5.37% interest will lose about 8,502.50 baht / month.

After retention (new interest): Assuming a reduction of 3.75%, the interest will be reduced to 5,937.60 baht per month.

Results: Save a lot of interest money each month.

3. Documents to be prepared

ID card copy

House registration

Original loan contract

Salary slip (last retrospective 1 month)

Advantages for Customers Good History: If you have a consistent record of instalments on time, some banks can use just one ID card to do things at all, which is convenient and not complicated.

4. Value summary

Refinancing is an easier way than refinancing a new bank because it doesn't cost a new valuation or a new mortgage at the Lands Department (depending on the bank terms). It helps you to pay off your home faster because the money paid will cut off more principal.

# Home Retention # Have a home when ready # Interest # First house # Home