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Does PR effect Mortgages?


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Hi All,

 

I am applying for PR. Some have suggested having PR allows an expat to access favorable mortgage / home loan terms for buying a condo (as a home, not investment).

 

Can anyone comment if this is true?

 

Thanks.

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Any leading institution will look favouably on a person's financial and residence status so it surely would be a benefit. Banks have different  lending criteria so it's a case if looking for the best deal

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Yes it's true. Whereas in order to purchase a condo in Thailand, a foreigner is ordinarily required to prove that the funds were remitted from abroad, the Condominium Act specifically excludes Permanent Residents from this requirement.

 

This means that you can apply for a mortgage from a Thai bank on the same terms as a Thai citizen.

 

As far as the law is concerned it doesn't matter whether the condo(s) are for investment or as a residence.

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