Mortgage Availability For Foreigner

[statman78]

I am looking into buying a condo in Bangkok.  I live and work outside of Thailand but through my Thai wife we already have a house and 2 condos in Thailand which are paid for.  I am looking to purchase another condo but would like to finance it until I retire and move there in a few years.  I have looked into a company called MBK Guarantee which does offer mortgages to foreigners based on foreign income.  Has anyone had experience with this company?  Are there other options?

[wirat69]

Pay cash....

 

[statman78]

29 minutes ago, wirat69 said:

Pay cash....

 

As much as I would like to, I don't have all of it right now.  I would be able to pay off the loan in 3-4 years

[animalmagic]

I know of a small company in HK that does lend for Thai mortgages from Singapore banks.

Private message me if you want me to send their contacts or refer you.

[tpkhk]

To the OP - No personal experience, but if part of the query was about the credibility of MBK guarantee they are well known.  They also offer Equity loans against condos that are fully paid for.  Believe It can get expensive, and you bear the upfront fees (valuation), regardless of whether the funding is approved or not.  They are also selective about which buildings/condos they will fund.

 

The only other avenue - is like the other poster commented - banks lending via their Singapore entities.  

[Morakot]

55 minutes ago, animalmagic said:

I know of a small company in HK that does lend for Thai mortgages from Singapore banks.

Private message me if you want me to send their contacts or refer you.

 

I'm sure if this is a legit operation, generic details can be posed here.

Edited November 25, 2017 by Morakot

[DannyS1951]

http://www.infopattaya.com/

 

Fill in the form and they will get back to you. May be what you need.

 

Danny

[ToddinChonburi]

You and your wife should be able to go to any Thai bank and apply.  

[animalmagic]

1 hour ago, Morakot said:

 

I'm sure if this is a legit operation, generic details can be posed here.

I do not wish to advertise any entity on this forum.  To the absolute best of my knowledge it is a legit operation; I am not trying to set up or scam anyone.

[Satcommlee]

Married to a Thai and after 5 years of paying tax with work permit have been offered a 90% mortgage on a house..

 

Not actually gone through with it but the info may be usefull..

[statman78]

Thanks to all who replied.  It has been helpful.  We tried some Thai banks but since my income is generated outside of Thailand it is not considered.  I will dig deeper into MBK Guarantee and the Singapore option.  From what I read, the MBK option does have a big upfront fee like was mentioned earlier.  I also did some more checking on-line and there is a potential that HSBC may do this type of financing.  I'm also checking into this option. 

[HTC]

If you are fine to put it in your wife's name then UOB offer mortgages where a foreigner can act as a garanteur.

[statman78]

On ‎11‎/‎25‎/‎2017 at 7:22 AM, HTC said:

If you are fine to put it in your wife's name then UOB offer mortgages where a foreigner can act as a garanteur.

Thanks!  I'll check it out

[baansgr]

A personal loan on any of the other three properties from SCB would be possible providing the criteria is met. Expect an intetest rate of around 9% and upfront insurance fees. 

[trogers]

44 minutes ago, baansgr said:

A personal loan on any of the other three properties from SCB would be possible providing the criteria is met. Expect an intetest rate of around 9% and upfront insurance fees. 

Not going to cover this interest cost with rental yield at today's prices.

[baansgr]

Just now, trogers said:

Not going to cover this interest cost with rental yield at today's prices.

I think the OP wants it for residence not rental. Its just an option for him if other avenues prove unsuccessful,  albeit a very expensive one. 

[trogers]

Just now, baansgr said:

I think the OP wants it for residence not rental. Its just an option for him if other avenues prove unsuccessful,  albeit a very expensive one. 

He already owns two condo units.

[BobbyL]

Not meaning to hijack the thread. I live and work here and married to a Thai after we both lived in England for a few years.

 

I have no idea the process around buying a condo here but we are thinking about it. Does anyone know what the usual % you would have to pay upfront to purchase a condo? (Obviously a rough estimate).

 

We're looking at places around 8Million so it would be good to get a rough idea about what % of that we would need to then get a place and a mortgage. 

 

 

[thedemon]

1 hour ago, BobbyL said:

Not meaning to hijack the thread. I live and work here and married to a Thai after we both lived in England for a few years.

 

I have no idea the process around buying a condo here but we are thinking about it. Does anyone know what the usual % you would have to pay upfront to purchase a condo? (Obviously a rough estimate).

 

We're looking at places around 8Million so it would be good to get a rough idea about what % of that we would need to then get a place and a mortgage. 

 

 

 

In my experience, for a second hand condo banks will lend up to 80% of appraised value. On new condos it may be higher. 

[BobbyL]

13 hours ago, thedemon said:

 

In my experience, for a second hand condo banks will lend up to 80% of appraised value. On new condos it may be higher. 

Thanks for the reply. 

[dksharron]

 

Loans to Foreigners ( tailored for Chinese, but available to all)

Rates about 6.5% as of a year ago

10 year maximum

 

I tried to upload the pdf forms, but could not do it.  Are pdfs not allowed to be uploaded ? 

Anyone can message me or respond to this and I will email to them the pdf forms for the loans.

 

 

http://www.icbcthai.com/services/Pages/_en/home/Default.aspx

Sriracha Branch 
138 Sukhumvit Road, Sriracha, Sriracha, ChonBuri 20110
Tel. (038) 773 483-4, (038) 773 498-9
Fax. (038) 773 559

 

From: <[email protected]>
 

Subject: ICBCT Foreigner Housing Loan
 

Cc: [email protected]

Below attached a brief introduction to FHL product of our bank and I also attached the application forms in case you need. 

If you have any question about the loan application,please feel free to contact me or Khun Somsak. 

The contact person for Siracha Branch is Khun Methin (He is the regional manager) 
For corporate loan, you can contact him for more information. 
His office no.is +66 2663 9124. 
Regards, 
-------------------------
Rui Han
ICBC(Thai)
Retail Banking Department 
+66 26639252