Preferential loan conditions for self-construction and home repair

Lawyer Nguyen Thu Thuy, YouMe Law Company Limited replied:

Clause 3 and Clause 4, Article 110 of the Housing Law 2023 (effective from August 1, 2024) regulates housing support policies for households and individuals who build, renovate, and repair houses themselves.

3. The State supports preferential loans through the Bank for Social Policies and credit institutions designated by the State for households and individuals specified in Clauses 1, 2, 3, 4, 5 , 6, 7 and 8 Article 76 of this Law self-build or renovate and repair houses.

4. Conditions to receive preferential loan support from the State through the Bank for Social Policies and credit institutions designated by the State for the subjects specified in Clause 3 of this Article include:

a) Having residential land but no house or having a house but the house is damaged or dilapidated;

b) Have permanent residence registration at the commune-level administrative unit where there is residential land or housing that needs to be built or renovated or repaired.

Clause 5, Article 76 of the Housing Law 2023 (effective from August 1, 2024) stipulates subjects eligible for social housing support policies as follows:

5. Low-income people in urban areas.

Thus, low-income people in urban areas can be supported with preferential loans from the State through the Bank for Social Policies and credit institutions designated by the State to build or renovate their own projects. Repair housing if you have residential land but no housing or have housing but the housing is damaged or dilapidated and have permanent residence registration at the commune-level administrative unit where there is residential land or housing to be built or renovation and repair.