Mortgage Advise Pls

[nimsey]

I am living and working in the UK with my Thai wife and we are looking to buy a holiday come retirement home in koh samui,and when we are next in samui we will be looking at some properties,what is the payment method for deposit and can any of the balance be mortgaged in Thailand

[quiksilva]

Typically you are looking a 30-90% deposit depending upon value. However, if you are both living and working in the UK I very much doubt whether you will be able to get a mortgage in Thailand.

[Moonfruit]

Thai financial institutions dont loan to foreigners.

You may be able to obtain a mortgage from a private finance company at an inflated rate, but thats about your best bet.

Regards

[quiksilva]

Just to elborate I think the same would be true for your wife too seeing as she is also not working and residing in the Kingdom.

[churchill]

I wouldn't bother to try to get a mortgage in Thailand - Best way to raise finance is to remorgage your property in the UK .

[GuestHouse]

If you have spare money to invest in Property, buy another place in the UK:

Benefits:

Your investment is in your name

You are legally allowed to own your second home in the UK

The payments you make will not fluctuate with the exchange rates

You can keep an eye on your second home in the UK

Once you've considere those factors as either comparritive 'Reduced Risks' or, if you ignore them as comparrative 'Increased Risks' you can then consider return on investment versus risk.

The UK comes out tops ever time.

[solo siam]

If you have spare money to invest in Property, buy another place in the UK:

Benefits:

Your investment is in your name

You are legally allowed to own your second home in the UK

The payments you make will not fluctuate with the exchange rates

You can keep an eye on your second home in the UK

Once you've considere those factors as either comparritive 'Reduced Risks' or, if you ignore them as comparrative 'Increased Risks' you can then consider return on investment versus risk.

The UK comes out tops ever time.

The OP wanted a holiday home with a view to retiring here, I didn;t see anything written about an investment - Besides UK houses are way overpriced pointing to a correction soon, besides payments can and do fluctuate with interest rates and you can legally own a condo here.

[gummy]

Yes and his wife is Thai so she can legally own any property here. Further no such underhand tax as Council Tax either.