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Social housing apartments with a sổ hồng as collateral
A nhà ở xã hội (social housing) apartment that already has its sổ hồng can be accepted as collateral. The conditions are set by each bank. Sao Việt prepares the file and follows it.
Can a social housing apartment with a sổ hồng be used as collateral
Yes, once the certificate has been issued. A bank may accept a nhà ở xã hội (social housing) apartment that already has its sổ hồng as collateral, under the rules in force and under each bank's own internal rules.
An apartment that has not yet been issued with a certificate is a different situation and is outside the scope of this article.
Tư Vấn Sao Việt is not a credit institution: we prepare the file and follow it, and the assessment is the bank's.
What differs from ordinary property
The underlying set of documents is the same: personal legal documents, evidence of repayment capacity, the capital use plan, and the collateral documents.
The difference is in the asset. Social housing is a category of housing with its own policy, so alongside the sổ hồng a bank will usually also look at the purchase contract with the developer, the proof of payment, and the legal status of the apartment at the time it is offered as security.
Some conditions on transferring and mortgaging social housing are laid down in the housing legislation, and they can apply differently from one development to another and according to when the certificate was issued. We check this point on the actual file, with the client, before filing — rather than publishing a general condition that may not hold for your apartment.
The documents to prepare
Personal legal documents: a valid CCCD (the Vietnamese citizen identity card) or passport; the residence information confirmation; a marriage certificate or a certificate of single status.
Documents about the apartment: the sổ hồng as issued; the purchase contract; proof of payment; and the accompanying papers provided by the developer.
Evidence of repayment capacity: an employment contract and salary statements, or revenue records for a household business or a company.
A capital use plan matching the purpose of the loan.
This is the common part. The final list is always the list of the bank that takes the file.
Why there are no figures on this page
No cost of funds, no proportion of the value of the apartment, no term. These figures are set by each bank, change over time and from file to file, and publishing them here would create an expectation we have no right to guarantee.
The right figure is the one the bank gives for your file, on the day you submit it.
What Tư Vấn Sao Việt does
We check the CIC credit history before starting, go through the documents relating to the apartment, identify what is missing, and prepare the file on the forms the bank requires.
After filing, we follow the file through the appraisal and supply further documents when they are asked for.
Clients in Quy Nhơn and across Gia Lai province do not have to travel repeatedly. Call 0917 097 906, Zalo on the same number.
The process
- Reviewing the legal status of the apartment Checking the sổ hồng, the purchase contract and the proof of payment before the file is drawn up.
- CIC credit history check Looked up before anything else, so we know whether the file can realistically be considered.
- Preparing the file Drafting and ordering the personal legal documents, the apartment documents, the evidence of repayment capacity and the capital use plan.
- Filing and following the appraisal We stay with the file while the bank assesses it and values the apartment.
- Following the file to the end Supplying further documents when the bank asks, and following the file through to the bank releasing the funds.
Frequently asked questions
What if the apartment does not have its sổ hồng yet?
It depends on the case. Where there is no sổ hồng yet, it depends on the contract with the developer and on each bank's rules, and the actual file has to be looked at.
Is Tư Vấn Sao Việt the lender?
No. We prepare the file and follow it. The decision, the conditions and the timing belong to the bank.
Does every bank accept social housing apartments?
No. Whether a bank accepts them, and on what conditions, is its own internal rule. We review the file first, so that it is not filed where this type of asset is not taken.
What does a secured loan file contain in general?
Four groups: personal legal documents, evidence of repayment capacity, the capital use plan and the collateral documents.