Bangkok: Sena Development Public Company Limited introduced the "Hey, Live First, Borrow Later" campaign, a strategic initiative aimed at converting rent payments into savings through the LivNex solution - Rent and Save Homes. This innovative approach seeks to tackle the prevalent issue of "failure to get a loan."
According to Thai News Agency, Ms. Kesara Thanyalakphak, Managing Director of Sena Development Public Company Limited, emphasized that the campaign was developed from a deep understanding of the challenges and limitations confronting consumers. It specifically addresses the difficulties faced by potential homeowners who are hindered by stringent credit systems, inconsistent incomes, or existing debt burdens.
Ms. Kesara highlighted the current crisis impacting many individuals, noting the increasing rate of loan rejections, particularly among those aiming to purchase homes in the price range of 1 to 3 million baht. These homes often represent the first major purchase for early-career individuals who have the financial capability to manage a mortgage but are restricted by inflexible loan requirements, unstable income, and household debt. Furthermore, she pointed out the growing trend among younger generations to rent rather than buy, leading to ongoing monthly payments without the benefit of homeownership. Sena's new campaign is designed to address this issue by providing an alternative for those who desire a home but are not yet prepared to take on a loan.
Ms. Kesara further explained that the campaign, operating under the LivNex home rental savings solution, allows individuals not ready to commit to borrowing to begin their homeownership journey immediately. The program permits customers to "try living" in a home for up to three years without requiring a down payment or an immediate loan commitment, and offers the flexibility to transfer rights if they choose. Additionally, a portion of the rent paid during this period is transformed into savings, which can be used to reduce the principal amount when the customer decides to proceed with the transfer of ownership.