Loan money for which house?

[ThomasThBKK]

37 minutes ago, CNXexpat said:

Perhaps Asian banks - but not Thai banks. They all want to see a regular salary. Not possible in my case . Also it´s not possible to get a loan with the collateral on one house to buy another one, sell the first one and pay the loan back - without regular salary. 

 

"Thai banks" do this too, i did it with citibank. 

This has to be stocks/etf/ etc whatever you have in your brokerage account, just to be clear.

 

It's called Margin and Securities Backed Finance: https://www.privatebank.citibank.com/home/investment-finance/margin.html

 

Quote

Borrowing across borders

The global nature of our business enables us to lend against assets owned in other jurisdictions.

For example, we may lend against securities held in Singapore to finance the purchase of a residential property in London.

Our specialists around the world work together as one team to help achieve cross-border solutions.

 

More info: https://www.thebalance.com/securities-backed-lending-for-beginners-4077080

 

You are however only qualified if you parked quite some money with most banks.

 

Thai banks also loan against Land, up to 50% of land value (it's bad tho).

 

 

[CNXexpat]

14 minutes ago, ThomasThBKK said:

"Thai banks" do this too, i did it with citibank. 

This has to be stocks/etf/ etc whatever you have in your brokerage account, just to be clear.

I have stocks worth much much more than I need in cash - but at Degiro and Banx Broker in Europe. I guess Citibank wants that I put them in a Citybank depot, what I don´t want. Also there will be a currency risk.

 

[Isaanbiker]

On 2/9/2020 at 11:08 PM, CNXexpat said:

Thanks. The problem is, my wife has no income, same as me. The sellers are private people. I haven´t asked them so far, but I guess they want their money soon as possible.

 

Yes, you understand me right. My question is now, if it´s better to make a loan on the Chiang Mai or the Huay Yai house - if possible. If neither nor is possible, I have to sell some shares and transfer the money to Thailand and after selling the house to transfer the money back to Germany - where I will lose money.

You'll lose money anyways. Just check where you pay less and go that way.

 

   Buying or selling houses/property in Thailand is and never was a nice business, there are often some hidden problems that only occur once you've spent some cash. 

 

  Listen to your gut feeling, not even to your wife's now.

 

It's finally your money where you might, or might not lose some of it.

 

  All involved in such a business, often people that are not mentioned on any papers/ documents want to have their piece of the cake.

 

Once you've understood that, you're good to go. Alles Gute.  

[BritManToo]

13 minutes ago, CNXexpat said:

I have stocks worth much much more than I need in cash - but at Degiro and Banx Broker in Europe. I guess Citibank wants that I put them in a Citybank depot, what I don´t want. Also there will be a currency risk.

 

Who's name are these houses in.

And if it's in a Thai ladies name, what's to stop her dumping you, after the second purchase, and owning two houses, while you only own the debt?

[CNXexpat]

36 minutes ago, BritManToo said:

Who's name are these houses in.

And if it's in a Thai ladies name, what's to stop her dumping you, after the second purchase, and owning two houses, while you only own the debt?

It is in the name of my wife, the Lady who I know 16 years since I met her in Germany and I am married more than 13 years. If I can´t trust her, who can I trust? 

 

41 minutes ago, Isaanbiker said:

You'll lose money anyways. Just check where you pay less and go that way.

 

   Buying or selling houses/property in Thailand is and never was a nice business, there are often some hidden problems that only occur once you've spent some cash. 

 

  Listen to your gut feeling, not even to your wife's now.

I will not losing money if I sell the 6 million house before I buy the 4 million one. But I guess it will not happen.

 

I am managing all. My wife is following me. Ok, if she doesn´t like a house she says it and I wouldn´t buy. Like a normal good partnership.

[jackdd]

Sell the house, rent something temporarily at the desired location which also makes looking arround way easier, and then buy a new house.

Or you could rent out the current house, and use this income to rent a new house.

[SoSoCNX]

You do not know how long it will take to sell your current house. Forget about house financing with a jobless wife. Sell your house, keep money in your bank and Enjoy your life. Price your house at reasonable market value and be involved in the sale. No real estate agents, No wife's friends or family acting as sales people!