Housing mortgage conditions formed in the future

Housing mortgages formed in the future bring many benefits to both investors and buyers. This not only helps investors mobilize capital easily, but also creates opportunities for customers to own the housing they desire. This promotes the development of the real estate market and ensures benefits for both parties in the transaction. Therefore, Long Phan hopes that through this article, you will understand more about housing mortgage conditions formed in the future.

Housing mortgage regulations will be formed in the future

In 2024, regulations on mortgages of future housing are recorded in Article 183 of the Law on Housing Law 2023, specifically:

• The investor of a housing construction investment project has the right to mortgage part or all of the project, or the housing built in the project, at a credit institution operating in Vietnam. The purpose is to borrow capital for investment or housing construction, and this mortgage must also include land use rights.
• If the investor has mortgaged the project or house and needs to mobilize capital according to the provisions of housing law, or wants to sell or lease-purchase the house, they must first partially or completely release the mortgage project and land use rights before signing a capital mobilization contract or a housing sale or lease purchase contract with customers. However, there are some exceptions prescribed by law.
• Determination that the housing has been released from the mortgage before signing the purchase or lease purchase contract will be clearly stated in the written notice of housing eligibility to be sold issued by the provincial housing management agency where the housing is located. The investor must provide customers with this document when signing a sale or lease purchase contract. If they mobilize capital, they also need to provide the capital contributor with a mortgage release document from the credit institution when signing the capital contribution contract.
• In addition, organizations and individuals building future housing on their legal land, or purchasing future housing from an investor’s project, can also mortgage their housing at a credit institution to borrow capital for the construction, purchase, renovation or repair of that housing.

Housing mortgage conditions formed in the future

Housing to be formed in the future is housing that is in the process of investment and construction or has not been accepted and put into use according to the provisions of the Law on Construction.

Accordingly, to be able to mortgage this type of housing, individuals and organizations need to meet the conditions specified in Article 184 of the Law on Housing 2023.

Specifically, the conditions for housing mortgage formed in the future are stipulated as follows:

• In case the investor of a housing construction investment project mortgages part or all of the housing construction investment project, there must be a project dossier, an approved technical design of the project, and Certificate or decision on land allocation or land lease from a competent state agency;
• In case the investor of a housing construction investment project mortgages a future housing built in the project, in addition to the conditions specified in (i), the mortgaged housing must be in the case of having completed the foundation construction according to the provisions of the law on construction and not belonging to the part of the project or the entire project that the investor of the housing construction investment project has mortgaged according to the provisions in (i), except in the case of having released the mortgage;
• In case an organization or individual mortgages a future house on their legal residential land, they must have documents proving land use rights according to the provisions of the law on land and a construction permit if a construction permit is required.

In case an organization or individual mortgages a future house purchased from an investor of a housing construction investment project, there must be a house purchase and sale contract signed with the investor of the housing construction investment project, a document transferring the house purchase and sale contract if the transferee of the house purchase and sale contract is the party receiving the transfer of the house purchase and sale contract, and documents proving that the house purchase payment has been made to the investor of the housing construction investment project according to the agreed progress in the purchase and sale contract and there is no dispute, complaint or lawsuit regarding the house purchase and sale contract or the document transferring the house purchase and sale contract according to the provisions of law on dispute resolution, complaints and denunciations.

Procedures for housing mortgage formed in the future

To mortgage future housing, the project investor must carry out procedures to notify that future housing is eligible for sale or lease-purchase, according to the provisions of Article 8 of the Decree. 96/2024/ND-CP.

Notification documents will include:

• Written notice from the project investor to the state management agency in charge of real estate business at the provincial level regarding housing eligible for sale, lease purchase;
• Documents as prescribed in Clause 2 and Points a and b Clause 3 Article 24 of the Law on Real Estate Business;
• Minutes of acceptance of completed construction of the project’s technical infrastructure according to the project’s approved progress according to the provisions of the Law on Construction.

In the case of an apartment building or mixed-use building with houses, there must be a record of acceptance of the completion of foundation construction according to the provisions of the Law on Construction.

The next steps for mortgaging houses formed in the future are specified in Article 162 of the Law on Housing 2023, specifically:

Step 1: The parties participating in a housing transaction agree to establish a mortgage contract.

Step 2: The parties agree to have one party submit an application to a competent state agency to issue a Certificate for that house.

Step 3: The parties bring the above mortgage contract to have it notarized or authenticated.

Consulting services on mortgage conditions for future housing

Understanding the mortgage conditions for future housing not only helps you protect your financial interests but also opens up many profitable investment opportunities in the real estate market. Understanding that, Long Phan provides in-depth consulting services on mortgage conditions for future housing, helping you master legal regulations and optimize your ability to borrow capital. With the support of a team of experienced experts, you will be guided in detail every step of the mortgage process.

Long Phan’s services include:

• Consulting on mortgage conditions, clearly explaining regulations related to housing mortgages formed in the future.
• Support in drafting and preparing necessary documents for you to carry out mortgage procedures smoothly.
• Represent and represent you in communicating and negotiating with credit institutions to ensure your best interests.
• Update real estate market conditions and new trends, helping you make the right decisions.
• Instructions for checking the legal status of the property: Make sure that the house to be built in the future fully meets the legal conditions before mortgaging.

We are committed to providing you with dedicated and professional consulting services, helping you easily carry out mortgage procedures and achieve your financial goals.

Housing mortgages formed in the future bring many practical benefits to both buyers and investors. Buyers can easily access loan capital to own assets before completion, while investors quickly recover capital to continue implementing the project. Please contact Long Phan immediately via the hotline: 0906735386 to receive the best support and optimize your loan opportunities for your project!