LPN Joins “Baan Dee Mee Down” Program of the Government: Good News for Homebuyers
Receive 50,000 baht cash rebate from the government and 50,000 baht more from LPN.
LPN participates in “Baan Dee Mee Down” program of the government by arranging a special promotion for 370 residential units in 9 projects worth 830 million baht. Those who have a monthly income of no more than 100,000 baht will get the cash rebate of 50,000 baht when purchasing and transferring ownership of a residence within the end of March 2020. The offer is limited for the first 100,000 homebuyers only. The purpose of the program is to create an opportunity for people to own a home and provide them with financial assistance. LPN will offer a special promotion of 50,000 baht cash back on top as a New Year gift when purchasing and transferring ownership of a residence within the end of 2019, totaling 100,000 baht of cash rebate. Other stimulus measures of the government include reducing the ownership transfer fee from 2% to 0.01% and the mortgage fee from 1% to 0.01%.
Mr. Opas Sripayak, Chief Executive Officer and Managing Director of L.P.N. Development Public Co., Ltd. (LPN) said that the cabinet has approved “Baan Dee Mee Down” program on 26 November. The government will give the cash back of 50,000 baht to homebuyers to help with the down payment. Interested homebuyers must register on the website www.บ้านดีมีดาวน์.com from 8.00h. on 11 December 2019 to 31 March 2020. The participants must meet the Finance Ministry’s criteria and register for a mortgage loan between 27 November 2019 and 31 March 2020. Each homebuyer is entitled to participate in the scheme (1 national identification card for 1 right to participate in the scheme). The monthly income of the participant must not exceed 100,000 baht. LPN has agreed to join the program by offering 370 units from 9 projects worth 830 million baht for sale. All the projects are designed with “The Better Balance” concept which enhances the balance in the 3 elements i.e. design, comfortable and safe living and service provided under “Livable Community”, the after-sale-service that matches the needs of the customers. The 3 benefits for customers are as follows:
1. The cash back of 50,000 baht from the government after ownership transfer.
2. The cash back of 50,000 baht from LPN when buying an LPN product and transferring the ownership before the end of 2019. The customers will get the total of 100,000 baht cash rebate from the government and LPN.
3. The reduced ownership transfer fee from 2% to 0.01% and mortgage registration fee from 1% to 0.01% as the stimulus measures from the government.
LPN projects participating in the program are as follows:
1. Lumpini Ville Pranangklao-Riverview
2. Lumpini Ville Sukhumvit 76-Bearing Station
3. Lumpini Suite Petchaburi-Makkasan
1. BAAN Lumpini Townville Rangsit-Klong 2
2. BAAN Lumpini Townville Ladpladuk-Bangpai Station
3. BAAN Lumpini Townville Permsin-Watcharapol
4. BAAN Lumpini Townville Ratchapruek-Pinklao
5. BAAN Lumpini Townpark Takham-Rama 2
6. Lumpini Townplace Rama 2-Takham
The terms and conditions of “Baan Dee Mee Down” program are as follows:
1. The participants must not make more than 100,000 baht per month or 1,200,000 baht per annum and must be taxpayers in the Revenue Department’s tax database.
2. The scheme is limited to the first 100,000 participants who meet the Finance Ministry’s criteria.
3. It must be the “new residence” only.
The timeframe of the program is from 27 November 2019 until 31 March 2020. Interested participant can register on the website www.บ้านดีมีดาวน์.com from 11 December 2019.
How to participate in the scheme?
Step 1: Register on the website www.บ้านดีมีดาวน์.com. Fill in the information and give consent for their personal data to be released to the Department of Provincial Administration, Revenue Department, NCB and ITMX for verification of qualifications of participants.
Step 2: Wait for a confirmation SMS
Those who meet criteria will receive an SMS to confirm their qualifications.
1. Department of Provincial Administration: They exist in the database.
2. Revenue Department: They are taxpayers in the tax database and their income is no more than 1.2 million baht per annum.
Step 3: Apply for loan
The financial institution will consider the loan application, approve the loan and register the mortgage loan. The loan application must be in accordance with the objective of the scheme and the loan must be approved and registered after 27 November 2019, the starting date of the scheme.
Step 4: Information check with NCB and ITMX
The information of loan applicants will be checked with NCB and ITMX in the system.
1. The objective of loan application will be verified by the financial institution.
2. The mortgage registration date will be verified by NCB.
3. The accuracy of Prompt Pay Number (ID Card only) will be verified by ITMX.
Step 5: Transfer the cash back of 50,000 baht
Government Housing Bank will transfer the cash rebate to the prompt pay account that is registered with the ID card of the main applicant.
Step 6: Participants who are entitled to join the program will receive the cash back transfer.
For more information, please contact LPN Call Center Tel. 02-689-6888 or visit www.lpn.co.th
Coordinators 02-285-5011 (Suphawadee, Nakamol, Khanittha)