Snugs08

Shouldn't the excess just rollover, wouldn't seem logical to recalculate everyone's payment for every overage, unless the excess becomes insanely huge, it would also make sense to have a decent reserve for large repairs further down the road, people getting behind on common fees, dealing with new fire regulations, further enhancements, and so on. How much overage is there? and you still haven't detailed what "other purposes" is - perhaps he meant he doesn't know yet so "other" is good as any answer? I would expect the reserves, and the outgoing, in my condo fluctuate yearly, I'd expect them to have a reserve of at least a million baht (and my condo isnt expensive) , possibly more to cover big jobs, if annual common fee isn't increasing more than inflation per annum I'd not going to nitpick their accounts ..

On 1m over 3yrs on 1% interest on a car deal, is really about 1.92% EIR if you calculated by any non-thai standard, its quite sneaky imo - advertising flat rate and nothing else would have regulator screaming in other countries. It still sounds very low though for the likes of Tisco etc but I guess its possible if it was something like June 2020 , are you sure you/misses didn't buy some form of life assurance at same time?

There's definitely commission in the finance, weather the sales person benefits or the dealership isn't clear to me, but suspect a decent amount given the way they calculate interest, I imagine the discount for cash is offered as you're less likely to pull out, can move quicker, and no risk of bank decline, clearly some dealerships attribute different monetary values to cash simplicity vs finance commission. Back on point - 5k or 10k to secure your car order is a bargain, expect 5-10x times reservation fee anywhere else in the world. Imagine how messed around they could end up being if the 100% balance was due on collection and they get a no-show. The 5k - 10k to dealer barely covers the time to write up your order and delivery to dealership presuming there are no factory fitted modifications in which case a no-show could be significantly more costly. When you say cash won't they accept a QR payment? or is it really hard cash? The only reason for hard cash I think of is they can return it easier, this happened to us several years ago over a misquote.

I'm asking because on real-estate forum it's very likely someone, perhaps more than one, has gone through this process recently, and experience the same confusion... Indeed it is confusing. To make it clearer/simple: Why would a bank clerk (two of them in different banks) suggest a higher LTV than a lower LTV for getting approved on simple mortgage on a new property? (lengthy "confusing nonsense" details in the first post if relevant)

That's fine if it works (doesnt red flag later) and as simple as that - it may very well be, but it wasn't 100% clear if it reduced the down-payment only, seemed to be some indication of increasing the purchase price (perhaps misunderstood), and something about the contract reflecting - just checked - actually the downpayment is noted in the contract ( so perhaps that all that needs changing afterall). If it's like you said then I'm happy. Still would like to understand the motivations here though...

Yes this true, developer won't deal with all the banks, so I understand usually they sort out it all out with their preferred partners, we're taking a dual approach with 2 applications on our own - one comes back prior to 3k valuation fee with 'its a go and here's your rates' and I believe the other we have to pony up the 3k, one of the banks we've approach directly the developer declined to be involved "too slow too many problem" ???? - I think I understand their contempt for this bank. I am aware most new developers can circumvent BOT (Bank Of Thailand - central bank) guidelines/regs to get close to 100%, and one super popular developer was close to 120% with a big bag of cash for us at the end, however I actually want to do some downpayment (maybe this can be reduced though from original plans) as we won't be able to overpay into the mortgage in the first 3 years without penalty and even super promo rates all have EIR > 3.25% 1-3yr. I suspect as well the loan proposals the developer comes back with might suffer same overflating with added insurance, fees, etc... etc... hoping to get them back today or tomorrow At this stage I just want to understand why the bank clerks seem to be insisting on more exposure to risk to get approved, raise your LTV, not lower it, seems counter intuitive to all logic Drag files here to attach, or choose files... Max total size: 1.43 GB

New. Built already and ready to go - not pre-plan.

Here's the background: Based on purchase price of the house and the proposed amount of down payment, our LTV is about 78.4%, and we can probably take this to 75% it's if difference between getting the mortgage or not, the lender conditions for the mortgage in our circumstances are maximum 90% LTV (one bank it's actually 95% apparently). Logically a higher down payment would result in greater probability of sailing through the underwriting process (hold the beer on that) - other conditions like salary, disposable income, affordability, existing debt obligations, bank statements, national credit check, HR salary reference, all satisfied and beyond - we are fine on all that - that initial soft assessment you'd get approved no problem, and of course despite hard negotiations I expect the bank's valuation to be possibly a little more conservative than the sale price we eventually settled on after some lets say frank negotiations - I am realistic here and not new to buying houses in countries with transparent mortgage processes. Fwiw, this is a Thai mortgage, wife name only, affordability on her earnings - my visibility is limited and layered by translations. Here's the question: Can someone explain the most recent insanity in our interactions, we go to complete the forms at the banks and my head nearly exploded from all illogical non-sense and this happened at two banks - albeit in the same shopping center. The first clerk told us to borrow more money - we should borrow 90% of purchase price to get accepted - I explained that I think somchai has got confused - I asked him if he's new - it's a maximum of 90% LTV not exactly 90% or minimum 90% - a lot of back and forth for what seemed like eternity in Thai and it was revealed that the underwriters usually don't grant the full amount - I explained that I understand this, I expect this actually, but it should be mute with the downpayment that can only swing the LTV so much and certainly wont break the mortgage lender LTV maximum, and heck if the valuator discounts more than 11.6% then I'd probably re-think everything and walk away from deal anyway (valuation fee gone, thanks for the red flag).. We have a buffer in valuation of 11.6%+. More back and forth and the wife say maybe also because my salary we have to borrow more, hmm yeah, no logical there, no response to that one.. Or maybe they only discount valuation a certain amount of best put it higher anyway.. We then go across to another bank we had on the radar, confidently saying to wife these will have a better idea, and their clerk says almost the same thing, we should borrow about another 600k more than we want to ensure we get the amount we want? I don't understand what they are proposing here - ask the developer to inflate the sale price? - reduce the downpayment? - they said they'll sort that with developer - whats the logic in this with such comfortable down-payment to cover any valuation disagreements? Here's my assessment: This shopping center banks usually deals with first-time mortgages at 95%+ or in some cases 100%+, they said many don't get approved, accepting BOT regulations regarding maximum LTV, and workaround by working with the developer to inflate the sale price (they actually don't have to do anything illegal here as most are mickey mouse discounted 20%+ and then the real discounts). My theory is they don't really see how a thing like downpayment affect LTV and underwriter criteria. They don't really understand their product and underwriting motivations. They just had more success doing it this way and its propagated at the food court to do it this way. I know someone is going to say "you think you know better" but find me some logic and ill step down on this.. My situation: Wifey wants to accept the advice of clerks and follow their recommendations. I worry this will raise more red flag than it helps. I say we should stick it through on original amounts with no fannying about with purchase price and an underwriter with a brain at HQ once the valuation has come back will approve it, if not we can lower our LTV a little, instead of going illogical the other way and increasing our LTV. Thoughts? Short: Bank says best to have high LTV - say 90% to get approved, when we started at 78.6%. Wife says follow bank. I say don't and once past the first layer - the clerks submitting to head office - it will be fine. Torn between which approach. "You don't understand Thailand"

Agree, it's odd you don't see it here, this is popular in Southern Europe, usually roll down rather than blinds with the release/roll-up mechanism inside, provides heat/cold insulation, noise reduction and blackout room for good sleep. Nearly all condos had it iirc at least over the bedroom windows/patio doors. Just though it probably also adds a layer of security too, although maybe not to be fully depended on.

Plenty. There even a Family Mart at check-in, there's a thai style food court on the taxi floor downstairs, and normal priced coffee shops on at the foot of the airport train station, and there plenty of airport priced restaurants on the mezzanine level. There's plenty of more choice at the check-in side, just no lounges if I recall.

Jesus Thailand mortgages are opaque if you want to really want to understand the figures. So the banks base your repayments with theoretical interest buffer included, this is somewhat sane idea although its advertised nowhere, note though imo the MMR are probably a high point right now, it ranges from +0.75% to 1% across the four banks we've tested, and god help you if try to ask the bank staff about this. It's reverse engineering if you can even get an amortization schedule off them. Once I understood the bank buffer I was getting closer to fully understanding and generating my own amortization schedules thai-style however the example amortization examples have used the advertise EIR+buffer to calculate the monthly interest with the reduce term which is odd (i.e. you should finish your mortgage early if MMR doesnt go up, if it does go up by % of the buffer you finish at the plan term - 360months in our case). This cake-and-eat-it calc has happened on two banks on two unrelated quotes (i.e not via same broker) E.g. Let's say a 4.5million mortgage with 4.35% EIR for months 1-36 with a 27500 monthly payment. I would expect on Month 1 the breakdown to be: Interest: 16312 Principal: 11187.5 The amortization scenario we have been given though is based on +1%, so Month 1: Interest: 20063 Principal 7438 Okay, so bear with me, you could say that this highlight <deleted> hits the fan scenario of an MMR growing + 1% and this would finish the mortgage at 360months, however the amort sch has this at 337 - if this went to 360 I would understand and if the non-existent 16312/11187 went to 337 then all would make logical sense. The amort sch they have given me seem to be for a >1% deviation of current MMR. 337month term, with start at 1%. Unless you starting paying the mortgage and you pay less than the amort schedule ? Anyone broken down before and got within a few baht in their comparison (ignore rounding rules)?

This is very good advice, points I hadn't fully considered. Thanks

Yes, the warranty is the thing wifey bangs on about pushing me towards new, sure it would be like getting blood out of a stone, last property we seen she said we was impressed when the sales lady explained "we also call you near end of warranty to check everything is okay", hard work

Mortgage. All her name. Ill be putting in a down payment amount depending on lender terms and approval probability. You are not wrong about the banks relations. A certain massive developer, and well respected by Thais, for example were in one moo ban telling us confidently they could put the sale price 1.2m higher than because we already give you 1.2million discount, then another 300k so 1.5m "fantasy thai buy anything with discount" deal, imagine that NorthernRock style 120% loans in 2023, if we want a bag of cash for renovations or whatever.. Most other moo bans were a bit more sensible, explaining their top tier banking relations, but also equally okay if we wanted to arrange our own mortgage.

I have no personal experience as we didnt proceed as it happens with the property we looked at but I've bookmarked these: https://allwecheck.com/pricing/ https://www.checkhousesthai.com/ Looked at some others too but I guess I didnt bookmark. Pricing seems to 5k-7k total, with one or two visits (i think check houses thai was 2) Let us know how it goes please if you move forward soon

Currently me and wifey have explored dozen of new moo baans from every developer under the sun, and all the same sales nonsense, showroom that looks awesome, and then barebones buildings, but free aircons, free transfer, free stamp, free mortgage fee, free this and free that, and special price today super promotion for frango and wifey, but ssshhhh, boss do just for you, about as a convincing in terms of great deal as an 80% discount sale in Central department store... oh an iphone raffle - sure that was aimed at wives i.e. all silly non-sense. It becomes an art though, refuse to see the showhome, some me empty, tell them forget about iphone / 200k homepro voucher / free lump of gold, circle the big figure on the quote sheet, ask them when boss is back lol.. But on risk, one thing that is safe, it seems, that our outlay initially is rather minimal, varying from 5k to 50k, usually around 5-20k reservation fee, and then lock in fee to bring it up to 50k in some instances within 7-14 days, but many waiving the latter with a little push, so outlays until mortgage approval and transfer day under 20k - excluding valuation fee from bank if applicable and private contractor for inspection if desired. In a nutshell your moving costs until transfer day are rather minimal, and with that you can somewhat hope the banks done their due diligence as the fork over the bulk on transfer day. I also quite confident with the names involved that things will run relatively smoothly accordingly to schedule with all of them, and resigned to the fact that like a new car leaving the showroom to turn around and sell it same day would be shouldering a 10%+ loss whatever the awesome super sale deal and freebies we got - but that's not the point.. We have also starting look at second hand homes and then I'm totally lost. It seems deposit to secure it are significantly higher, it also seems there a risk of deeds not being ready to transfer, leins/charges on the property, and I've read and heard multiple stories of people losing securing deposits, basically the opposite of new.. What is the typical securing deposit for say a 3-4m townhouse? How do you ensure due diligence that the property is transferable - i.e. the charges / mortgage total isn't beyond the sales price due to depreciation or cash home loans etc.. At what stage do you involve your legal representation? How much would this likely be? Deposit worry me, pay 10% down, and find out the roof is a mess that hasn't been declared then sure legally entitled to the deposit back, but imagine nightmare getting it.. Also it seems many banks only work with new developers - LH not quoting, KBank quoting 8.35% and TTB 4.75% - KTB Bank was insane with massive insurance requirement -GSB doesn't seem to distinguish though - relatively decent rates on both non-insured/insured, can they deliver though? Competence seemed low, no branch could produce a Amortization Schedule which would be watchdog offense anywhere else. I could probably of started this from paragraph five but maybe of some insight for anyone else feeling special when touring Any and all insight appreciated, especially if recent... Thanks

Yes, only way unfortunately, unlike MRT which is swipe and go, I had to chase my approval through Line support after several days of nothing. It was approved a few hours after chasing, politely, I think I uploaded just passport and selfie originally, unlike TrueMoney which has even more stringent requirements - hard to believe. Of course, after this, Thailand being the mecca of financial regulation and anti-money laundering, you then have to go with your passport to a BTS ticket office to link up the Line for a second time, not remembering of course that you presented your passport the first time you got a Rabbit card, or the last time you top-up if legacy. I've had less KYC/AML on a mortgage then setting up Line and Rabbit card, but I understand the concern, the amount of money laundering through BTS Rabbit cards is in the trillion of baht according to TAT and that can have a real damaging effect on the country's interior security.

Let say farango me and thai wifey decide to buy a property here in Bangkok, not a condo or BOI thing so no foreigner quota, thus the bank mortgage, transfer and all paperwork in her name solely - a simple mortgage all in her name. Bank life insurance linked to the mortgage has farang me as the primary beneficiary in the event of wife's death within X years. My name doesn't appear anywhere else. 1 - Presume bank life insurance settled the remaining mortgage fully (one of the products on offer) - is it still the case the farang gets 1 year to sell it as farango can't own it? What happens at the 12 month mark if a firesale hasn't been achieved? 2 - If we take a mortgage insurance product that doesn't fully track the outstanding capital - either shorter duration or 80% of remaining value - what happens here? I need to continue servicing the mortgage somehow? do I still get one year? Forgive the hint of repetition, although I can find plenty of questions regarding property and death via search, many are years old and suspect out of date, and very few mention how an outstanding mortgage complicated things. And of course, I will take legal advice for wills etc.. once I have an idea of what the landscape is..

Is that wood treated with the polyurethane tin you recommended earlier from RTB?

Do you mean the cabinets on each side, instead of top to bottom legs, a big 100cm+ gap for legs? That would work I guess, presuming kitchen cabs go back more 60cm depth, need more than that for my legs pushing against the wall at the moment, 70cm would work I think. Won't that push the height to > 80cm based on standard kitchen cabs at 80cm plus worktop? would need a special chair or raised platform to avoid crippling ergonomics there?

How much does this work out as price wise? Probably keep with wood for my work desk but this gives me an idea for something in the kitchen

I dont need a big mouse mat for any particular use-case but this looks good for removing the ridge/bump of a normal size mouse mat and as cushioning for the palm of hand, interesting. Current black mouse mat looks like it need to go in the washing machine yesterday though and most of ones had prior - does this one stay clean, need washing regularly?

Bangna area, Bangkok, the nearest big DIY store is Thai Watsadu just before Mega Bangna I think but Im sure Ive seen smaller merchants but I cant recall where. On the kit issue I probably going to buy some tools anyway so I'm comfortable spending a few thousand on some basics power tools but if they do the big cut to 70cm width I'd probably be happy to let them handle that and use the tools to make use of the excess wood. Absolutely ???? On staining - is this simple enough? I remember wood work in school where we had to varnish our little wooden creations, mail racks etc, and I don't think anyone made it look good with uneven blobs etc.. here and there

Thanks this is very interesting - and all new to a newbie like. The desk above has a beam across front but I suspect that can be unscrewed for my non-standard length requirements or maybe cut, or wait, are you saying just balance the 220m across with that in the middle giving legs 35cm in on each side, interesting. By fell apart do you mean eventually sagging? Is 15mm enough to prevent sagging if say 3 large 24" monitors and my pressure on the keyboard etc.. ? I've had sagging before on cheap 120cm desk, I think this question is mute if I retain the beam What kind of surface finish do I need to use? Do I need a sander too or will a bit hand sanding work?

Maybe 2 of these https://www.thaiwatsadu.com/th/product/ไม้ระแนงสนรัสเซีย-SAK-WOODWORKS-รุ่น-BTNS404025-ขนาด-4-x-250-x-4-ซม-(แพ็ก-4-แผ่น)-สีธรรมชาติ-60286469?cate=520303 Cut each to 72.5cm and screw in 4 of these https://www.lazada.co.th/products/44-t-nut-38-16-i3377463245-s12492313078.html Balance it with a spirit level at the required height of about 75cm I dropped the idea that this will be cheaper than an off the shelf desk, but it sure looks fun... really want to get into DIY