Financial institutions are taking steps to assist mortgage customers in coping with increasing rates as Central Bank hikes impact floating mortgage interest rates. Thakorn Piyapan, president of TMBThanachart Bank (ttb), mentioned that the bank provided some mortgage clients with the option to raise their monthly debt repayment amount or prolong the loan period to alleviate the higher monthly debt burden due to rising interest rates.
So far, the majority of the bank’s mortgage customers have been able to keep up with their debt repayments despite the rising interest rates, according to Piyapan. He stated that if the Bank of Thailand raises its policy rate by 0.5 percentage points, many of ttb’s clients should still be able to manage their debt.
However, Piyapan noted that around 0.5% of mortgage clients might struggle with debt payments. If the central bank…
