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The internal memo of the General Organization for Housing in Lebanon calls for "stop accepting any new application for mortgage loan to date (and until further notice to prevent discretionary treatment records ") due to lack of funding for subsidized housing loans
The chairman of the board of directors of the General Housing Institution, the general manager Roni Lahoud explained in an interview to the newspaper Al Hayat that "That the internal memorandum issued and directed by L. Head of the administrative and legal department of the institution, asking" to stop accepting any new application for real estate loan as early as today; (until further notice), "expressing" our refusal to differentiate between an applicant and another who fulfills all the conditions.
The Foundation's Information Office pointed out that "the measures taken by the Board of Directors of the Foundation aim at avoiding embarrbadment, intervention and mediation, after some banks have had wrong to approve all applications for home loans. At discretion in the abuse With the borrowers. "
revealed" Lahoud's life ", the number of loans approved in the first six months of the fiscal year amounted to 1200 billion pounds worth 250." pointed out that "the real need for funding until the end of the year, up to 500 billion lire (333 million US dollars) covering 2,500 loans."
To the extent, the Lebanese Bloc has submitted an accelerated project to support the benefits granted by the public institution for housing. In a press conference held by MPs Sami Fatfat and Rola Al-Tabash, Dima Al-Jamali and Tariq Al-Marabi
According to the proposal of the law, it "aims to support the benefits of loans granted by the Foundation" . It aims, according to the text, to "the state's commitment to support the profits of the loans tested by the institution, by repaying directly the banks the value of this support by a compensation between the amounts representative of this support and the taxes faced by the banks ". "Granting the tenant, who benefits from a loan from the institution to acquire either the salary that he occupies or any other housing, an additional maximum grant of 2 percent of the amount of interest on the loan. "
The State supports the interests of loans granted by the Corporation up to a maximum of 5% of the amount of such interest. "The Public Housing Institution shall provide the Ministry of Finance with a monthly statement containing the amounts corresponding to the subsidy due to each of the banks concerned by the provisions of this law. All we are saying today is that these loans, which were supported by the Bank of Lebanon and the result of its suspension, and will issue construction decrees for the proposal of the Ministry of Finance in coordination with the institution to determine the ceiling. "
" According to this proposal, we have no additional charges on the state. "We and the state of Prime Minister Hariri are feeling the suffering of the Lebanese people and this is our first law, and there will be proposals for other laws to support young people and people."
As for the deterioration of the real estate situation, Meeting with the governor of the Central Bank of Lebanon, Riad Salama, "The two parties are firmly convinced that the sector is far from collapsing".
"The allocation of about $ 2.3 billion in long-term housing loans supported by the central bank, plus $ 800 million directly financed by private banks, and exhausted throughout months "The badociation confirmed that the allocation of new capital from the central bank to support housing loans" remains valid in principle for the Central Bank, but this year's share is exhausted and has to wait until early 2019 to revive subsidized housing loans New "
In the context, the Association of Real Estate Developers in Lebanon (REDAL) v Declaration," the formula proposed by the Minister of Social Affairs in the interim government of Pierre Bo Asi, proposing the accelerated law prepared by the Futur refined bloc, to solve subsidized housing loans crisis and the adoption of a sustainable formula to ensure continuity ".
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