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sadherbert
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Posts posted by sadherbert
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I believe that Ping An group was acquired by CP in 2019 - so maybe not such a Chinese tie up as it looks.
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The important point using a fixed deposit account for the visa is that the money is accessible. I have the bank (BBL for me) attach the terms and conditions of the deposit showing that the money is accessible with only loss of interest to their letter certifying the balance.
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12 hours ago, Scottjouro said:
As you have stated 2 different vehicles
A true mortgage is a secured loan against a property, while a personal loan is tyoicall unsecured, interest rates on are generally mortgages are lower than a personal loan
The easiest way to differentiate is who is holding the deeds on the property ? If the bank holds the deed then this is a mortgage, and if the indivdual holds the deed then the loan is a personal loan
So it was a mortgage. As I stated in the original and second post, UOB held a legal charge over the property. They just did it through different UOB entities because of the money needing to come from overseas -UOB Thailand held the charge, UOB Singapore provided the money and there was a link between the two. Lower than Thai mortgage rates at the time. No idea if they still do it that way now though.
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On 10/2/2018 at 4:55 PM, Scottjouro said:
So strictly speaking they gave you a personal loan not a "Mortgage" in the classical sense, your interest rate is higher and your term is lower than what would be availible from a Thai bank
Scottjouro: So what is a mortgage if not a personal loan secured by a charge over the property? As I said - it was several years ago and no Thai bank, in Thailand, would do it then (Bangkok Bank would through the overseas route). I had secure employment with a company providing all the documentation and the mortgage requirement was less than half a years salary. Rate was lower than in Thailand but term restricted and you had exchange rate risk. Good news if it is now possible through a Thai bank onshore.
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I use a fixed deposit account but ask the bank to attach to their letter the standard terms and condition which state that that monies can be withdrawn subject only to loss of interest. The few times I have been questioned have been swiftly resolved by pointing to the terms attached to the bank letter.
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When I did it several years ago the only options were UOB and Bangkok Bank (who may have stopped). Both would only do foreign currency mortgages with an overseas branch, so you bear the exchange rate risk. Mine was UOB Singapore, Singapore Dollars and max 10 year duration. UOB Thailand took the charge over the property. They were pretty good whilst the main contact I had remained there but became very difficult to deal with once she left.
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"It's not just national parks. Aquarium at Paragon has double pricing. Disgraceful slap in the face by a well known Thai company. "
Thats an unfortunately bad example as that is owned by a well known UK visitor attraction company not Thai owned.
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I would appreciate any advice anyone can give. I have a one year non immigrant type "B" multiple entry visa and work permit. I work for an international company in Bangkok, have been here for three years and intend to work through to retirement if I can keep getting the renewals (I am 45). I own a condo in my own name. I am divorced with two children, have joint custody of them and a formal family arrangement that puts the wishes of the children as the number one criteria. My son would like to live with me in Thailand and my ex-wife is agreeable to this. I am currently looking at schools. However, I have received all sorts of conflicting advice on visas for him - "dependent" visa vs "education" visa, apply in the UK (where he is currently at school) or get him over here on a 30 day stamp, into school then apply? I am also concerned that the term dependent implies out of necessity whereas this is out of choice and do not know how it will be viewed if only one parent is here and the other is giving consent. Is there an easy way to get his visa running concurrent with mine?
Does anyone have experience of this situation and can let me know what they think is the route I should go - it will be much appreciated. Thanks.
Hua Hin smiling again after the crisis: Tourism is back - 70% midweek, 90% long weekends, TAT
in Hua Hin and Cha-Am News
Posted
There’s a glimmer of truth and a lot of hilarity in this. Public holiday weekends - packed from Bangkok. Normal weekends - mediocre. Weekdays, TAT are having a laugh. I just walked the Khao Takiab end of the main beach, past numerous hotels from Chiva Som to Suppatra. I saw 2 people on the beach and nobody in any hotel gardens, around the pool except one lonely sole at the Hyatt. Many places boarded up and closed. I went into the pool bar of one hotel for a coffee - no staff, ten minutes later I was seen by two staff who then sat on a lounger playing on their mobiles. Outside in the street was a row of restaurants and massages - 4 out of 6 massages closed and 3 out of 5 restaurants. Some just closed, some obviously moved out. God help the rest of the tourist places if HH is thriving!