Jakarta – Bank Indonesia (BI) has decided to extend the relaxation of the Loan to Value/Financing to Value (LTV/FTV) ratio policy for property credit/financing from the previous one until December 2023 to 31 December 2024. This was done to encourage bank credit distribution.
“All types of property (landed houses, flats, and shophouses) for banks that meet certain NPL/NPF (non-performing loan/non-performing financing) criteria to encourage credit growth in the property sector while still paying attention to the principles of prudence and risk management, effective January 1 to December 31 2024,” said BI Governor Perry Warjiyo in a press conference, Friday (20/10/2023).
With this policy relaxation, prospective property buyers do not need to pay a down payment, aka 0% down payment (DP). Meanwhile, the maximum LTV/FTV relaxation of 100% applies to all types of property, from landed houses, flats, to shop houses (ruko) or shop houses (office houses).
For information, Perry said that the policy was supposed to end in December 2023. However, his party decided to extend the policy until December 2024.
Apart from the housing sector, BI is also continuing the DP violation for motor vehicle credit/financing to at least 0% until December 31 2024. Meanwhile, this policy applies to all types of new motor vehicles.
“This is to encourage credit growth in the automotive sector while still paying attention to the principles of prudence and risk management, effective January 1 to December 31 2024,” he said.
For detikers who have problems regarding houses, land or other property. Whether it is related to law, construction, financing and others, the detikProperti team can help find a solution. Send your questions via email to [email protected] with the subject ‘Tanya detikProperti’, then the questions will be answered by experts.
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2023-10-20 09:56:33
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