I am trying to figure out if a second mortgage is possible in Thailand. By second mortgage, I mean second mortgage in the US sense of the word...what is called a second charge mortgage in the UK.  Doing a search on "second mortgage" in Thailand seems to bring up a lot of information on getting a 1st mortgage on a second property. This is not what I am talking about. I am talking about 2 mortgages on the same property, with the 1st mortgage being superior to the second.

 

Does this kind of financial vehicle exist in Thailand, and if so, who would offer it?

 

Talk to the bank with the present mortgage and ask them to increase the amount

Highly, highly unlikely you will get anything like this in Thailand: except ,as posted above, you might get an additional loan ,from your original bank, secured on the same asset, likely at a higher rate.

The Thai banking system has conservative bias, to say the least, and practices of the major banks tend toward the oligarchic!

I learnt talking with Bangkok bank, REFINANCING a home loan does not exist in Thailand. Secondly if you repay a home loan or business loan before 3 years, there is 30,000 baht penalty you pay to BOT.

The only way you will get a second mortgage in Thailand is through private money and I do not think you want to deal with them.

 

As has been stated the system here is that if you default on a mortgage the bank as primary has the right to auction it off or sell it. Usually that means that they sell it at what they are owed or slightly higher.  There is no way that a second mortgage could be collected in that system.

 

Again the only way would be to see the bank and if you have a LARGE amount of available equity they may help you or another bank might give you a loan but that is the only way you could do it.