Mortgage Deposit

[stupidfarang]

On a 2 million bhat land purchase what amount deposit would be required by a bank? I know non Thais cannot own land so would need to be in a Thai name (or company and I not want to do that) so am looking at buying some land for 2million in partners name. Thanks in advance

[NCC1701A]

10 minutes ago, stupidfarang said:

so am looking at buying some land for 2million in partners name.

a better way to express this is to say "I am giving my partner some money so they can buy land for themselves."

 

what sort of terms can you work out with the seller?

[FritsSikkink]

Ask a bank

[Peterw42]

Any deposit would be a percentage of what the bank says the land is worth. Different banks probably have different lending criteria with a few variables. Banks may even offer lower deposit but higher interest. First step would be finding a bank that agrees the property is worth 2m baht then look at their loans.

[stupidfarang]

11 hours ago, FritsSikkink said:

Ask a bank

Spot on, you are stating the obvious, the reason I ask is to see if any expats have had experience with a mortgage and to get knowledge before I approach a bank. Better to have some knowledge than none at all.

[stupidfarang]

11 hours ago, NCC1701A said:

a better way to express this is to say "I am giving my partner some money so they can buy land for themselves."

 

what sort of terms can you work out with the seller?

The better way to express this is "On a 2 million bhat land purchase what amount deposit would be required by a bank"

It is obvious that is what I am doing as I have already said, quote "buying some land for 2million in partners name" 

[stupidfarang]

11 hours ago, Peterw42 said:

Any deposit would be a percentage of what the bank says the land is worth. Different banks probably have different lending criteria with a few variables. Banks may even offer lower deposit but higher interest. First step would be finding a bank that agrees the property is worth 2m baht then look at their loans.

Thank you for the info, appreciated. Good point about finding a bank that agrees the property is worth 2million. 

[baansgr]

The bank will have its own valuation of the land. They will require salary slips, bank statements and sso and tax payment confirmation of normally 6 months from your partner. Depends on their valuation what deposit they require.