Our son wants to buy a house that we rent at the moment,what sort of interest rate can he expect to pay and which bank is best?

 

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6.15% at the moment give or take 0.1%.

It's been around that for the past 5 years.

6.15% at the moment give or take 0.1%.
It's been around that for the past 5 years.

Wow,thats quite high

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There are often some government banks that lend on low income, low deposit but the interest can be 7%, they start low at 3-4% but go up each year.

I did not realize how high interest rates are here( for borrowing) as we have always rented, but as our son earns quite a high wage he wanted to buy,but at that rate out rent is less than a mortgage would be

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Don't forget,  most will want an insurance  premium paid upfront which could be 70k on 1.5 MIL.... 

Don't forget,  most will want an insurance  premium paid upfront which could be 70k on 1.5 MIL.... 

And how much on 3.5 million?

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3 hours ago, ivor bigun said:

And how much on 3.5 million?

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Probably  a lot more,  do the maths but the only exact answer will be from the lender.... It's non refundable even if loan Is paid early,  bit of a con in my opinion 

Usually, bank will only loan a modest % of the cost of the house (often the land value, not the house value) particularly if the house is not new. A lot of things can go wrong with a house in Thailand, and Thai banks do not like losing money.