Land purchase mortgage by a foreigner?

[stargazer9999]

My understanding is that land here must be bought in a Thai individual's name.  Is it possible for a foreigner to obtain a mortgage from a Thai bank to buy the land?  Can the foreigner obtain the mortgage loan after satisfying any financial requirements but have the loan be for land owned by a Thai person?

[baansgr]

You will only get a loan as you secured as guarantee in the Thais name, interest about 9%. No bank will lend you money on what you don't own

[richard_smith237]

I'm not sure about land only. But it's quite possible for a Foreigner to Support a Thai's application for a Mortgage on a house (even one whose income is from overseas). 

 

Rates for Mortgage are variable and depending on the Bank - but MLR -2% for the couple of years is normal.

 

 

[Max69xl]

22 hours ago, richard_smith237 said:

I'm not sure about land only. But it's quite possible for a Foreigner to Support a Thai's application for a Mortgage on a house (even one whose income is from overseas). 

 

Rates for Mortgage are variable and depending on the Bank - but MLR -2% for the couple of years is normal.

 

 

Google it 

[khunPer]

On 10/4/2019 at 7:50 AM, richard_smith237 said:

Rates for Mortgage are variable and depending on the Bank - but MLR -2% for the couple of years is normal.

Have never seen that published on the interest board in the banks, it's normally around 6 percent.

 

And Google says:

Quote

Thailand's Prime Rate: Minimum Loan Rate (MLR) data is updated monthly, averaging 7.875 % pa from Jan 1983 to Nov 2018, with 431 observations. The data reached an all-time high of 17.000 % pa in Oct 1984 and a record low of 5.625 % pa in Jun 2005.

 

[khunPer]

On 10/3/2019 at 8:14 AM, stargazer9999 said:

Is it possible for a foreigner to obtain a mortgage from a Thai bank to buy the land?

A foreigner cannot own land – apart from one rai with a relative huge investment on "investment visa", presuming one can afford the land then – how can you give mortgage security in something you don't own?

 

Probably you can be guarantor for a Thai applying for mortgage, and you might be able to be granted mortgage on a house – which can be owned by a foreigner – on leased land, or land with a superficies servitude; I've heard about up to 50 percent, even offered by an Australian financial institute or bank, but in connection with a construction contract for building a new house, however it was almost a decade ago, so things might have changed.

[kevinmartyn]

No cannot own! Which is madness! Apart from that who can you trust. Really you put trust in a Thai. Good luck in that area. You can lease 30 to 60 years

Edited October 5, 2019 by kevinmartyn
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