Why is it so hard to talk to a Thai bank about a loan?

[robblok]

38 minutes ago, thailand49 said:

That is good for you but I see it different from my experience. Example when you open a account like in Chiang Mai and have to go to that branch in CM to close there is a problem with that. I once got a cashier check back from AIA insurance they told me when I went to the closes one to deposit it into my account they told me that it could only be done at the branch I opened the account.

 

Recently just curious I wanted to buy another condo for investment but right now I didn't want to take out a lump sum and purchase because I was using the account for my Retirement Extension so I had a bright idea and it wasn't anything to do with the interest etc so I walked into Bangkok bank and ask the loan officer my idea told her can I get a loan my Thai wife will apply for the loan but first I would buy the property outright then obtain the loan for the same amount and place it back into our account and the bank will hold the deed?

 

She was confused said she never heard of such a thing in Thailand yet I've done it a few times in the States very similar creative financing?  Not better but happy for you! 

Just curious why the creative accounting. Just let your Thai wife loan the money from the bank and get her name on the condo. Done. 

 

What your suggesting has no added value (could be that your not explaining things correctly). 

If the loan is on name of the Thai wife then she needs to be on the title of the condo too. Not sure why you want to be in between all of this.

 

Probably to skip the income check or something like that. I doubt they will do that that is not standard anywhere in the world. 

[thailand49]

1 hour ago, robblok said:

Just curious why the creative accounting. Just let your Thai wife loan the money from the bank and get her name on the condo. Done. 

 

What your suggesting has no added value (could be that your not explaining things correctly). 

If the loan is on name of the Thai wife then she needs to be on the title of the condo too. Not sure why you want to be in between all of this.

 

Probably to skip the income check or something like that. I doubt they will do that that is not standard anywhere in the world. 

My remarks was about the banks as I noted not about what I do personally I have a reason maybe it is money laundry but whatever I buy I don't put it in my name basically if I can't afford to lose it then I shouldn't even consider everything is in her name property, cars, motorbikes etc. etc. my question to the bank will they loan the money to her she has the income stream as to how and why that is my business.

[robblok]

1 minute ago, thailand49 said:

My remarks was about the banks as I noted not about what I do personally I have a reason maybe it is money laundry but whatever I buy I don't put it in my name basically if I can't afford to lose it then I shouldn't even consider everything is in her name property, cars, motorbikes etc. etc. my question to the bank will they loan the money to her she has the income stream as to how and why that is my business.

Ok so you don't want to give details for your complicated transaction. Fine but if I as an accountant don't get it then for sure a Thai bank would not get it without more details. 

 

So id say the bank was right in refusing you. (not an attack but you put something on the web that caught my attention and to see why a bank refused i just needed to know more) 

[thailand49]

3 minutes ago, robblok said:

Ok so you don't want to give details for your complicated transaction. Fine but if I as an accountant don't get it then for sure a Thai bank would not get it without more details. 

 

So id say the bank was right in refusing you. (not an attack but you put something on the web that caught my attention and to see why a bank refused i just needed to know more) 

The problem you have the right to see what you want and respond but the problem you assume and conclude too much I don't believe I said the bank " refused " she understood my creative accounting everything I asked she understood I guess you have to be there to believe it which you were not she just responded my request was just not normal to how they usually loan money out.  End of story!

[Mattd]

3 hours ago, thenewgoo said:

I wasn't - it was to be in my wife's name (Thai) - only the loan.

Then the loan would have to be in your wife's name, you could only be the guarantor, the land and house would be the collateral for the loan, so the mortgage has to be in the name that is lodged on the land paper.