On the 11th, the Japan Condominium Management Association and Sumitomo Mitsui Trust Panasonic Finance Co., Ltd. (hereinafter referred to as "SuMiTPFC") announced the launch of purpose-specific loans in collaboration with the Condominium Management Adequacy Assessment System. These loans target residents living in properties rated "★3" or higher under the system's evaluation criteria of management condition, aiming to encourage condominium renovation and refurbishment, further enhancing the quality of the second-hand condominium market and facilitating its circulation.
SuMiTPFC offers five types of purpose-specific loans. The "Renovation Loan" comes in fixed-rate and variable-rate options, accommodating renovation, remodeling, and repairs, while also providing a "refinancing" option to consolidate existing housing loans with new renovation loans. Additionally, there are "Auto Loans," "Education Loans," and "General Purpose Loans" available, catering to various life events of condominium users.
Reprinted from: Real Estate Distribution Research Institute Co., Ltd. “R.E.port”
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