Thai Mortgage

[AZZZEY68]

I am looking to buy my wife is thai anyone know the best rates or is it best to raise cash in the UK price is 3,734,000 thai baht its in bang silay.

[torrenova]

That is about GBP56k. Do you want to put it on short term finance ? Depends upon your credit rating. Remortgage if you still have UK income.

Your wife would need income of 2.5 to 3 times the monthly payments which would be roughly 65-78k per month on a 15% deposit financing 3,173,900 at 7.5% over 20 years.

The following spreadsheet will help you work things out. You will need to install the Analysis add inn in Excel though, easy from the TOOLS?ADD INS menu.

Mortgage_amortization_formulas_email.xls

[AZZZEY68]

That is about GBP56k. Do you want to put it on short term finance ? Depends upon your credit rating. Remortgage if you still have UK income.

Your wife would need income of 2.5 to 3 times the monthly payments which would be roughly 65-78k per month on a 15% deposit financing 3,173,900 at 7.5% over 20 years.

The following spreadsheet will help you work things out. You will need to install the Analysis add inn in Excel though, easy from the TOOLS?ADD INS menu.

Yes have an excellent credit score i own 4 houses here 3 buy to let and my own just wondered what the rates were over there rather than re mort here,also if i used the money market and bought a large amount of baht i would get a rate of 3 baht above base rate i believe?

[RAZZELL]

if i used the money market and bought a large amount of baht i would get a rate of 3 baht above base rate i believe?

Are you sure about this?

RAZZ

[eljeque]

Interest Rates

http://www.bangkokbank.com/Bangkok+Bank/Pe...tes/Default.htm

6.5% for three years and then 7.5% for the remaining term

Fees

http://www.bangkokbank.com/Bangkok+Bank/Pe...+Apply/Fees.htm

Appraisal Fee: 2,500 baht

Loan Fee: 0.5% of loan amount

My friend's wife is a nurse and a few years ago she borrowed nearly 3 million for a house and her salary was only 20,000 / month. The property was worth well in excess of that amount, and her Japanese husband put down a large enough down payment.

[AZZZEY68]

Sure about what yes you get a better rate my friend was sending 30,000 pounds in one go that got him a better rate through the one account in the UK.

[torrenova]

If you are talking about the current onshore and offshore rates then yes but if you are talking pre Oct 2006 and all that crap then no. Why do I know ? because for years I was an investment banker dealing in billions of everything (and then there was Turkish Lira !) and Bt3 over say a 10 year average of 65 was and is impossible. If you are talking about 3bps (basis points) then ok, but on 30k that is still peanuts.

As to an excellent credit record, and I have no reason to doubt you, you could not use the overseas property as collateral for a UK based loan and thus, your debt to equity ratio would rise.

A while ago, I remember a story where someone asked to borrow Bt5m from a bank and was told OK as long as he deposited Bt5m with the same bank. Go figure I thought !

However, if you raise the cash in the UK, buy the place in LOS, would the bank in LOS then advance a certain % mortgage ? Don't know on that one.

[AZZZEY68]

Its called covering your asse there are 4 of us buying on a development so we need just under 200 k uk sterling if we do transaction together we should get a decent rate.

[AZZZEY68]

Any more info appreciated.

[torrenova]

Its called covering your asse there are 4 of us buying on a development so we need just under 200 k uk sterling if we do transaction together we should get a decent rate.

You might want to have a word with the developer and see whether they would "appreciate" the funds being transferred outside Thailand. Now this would not work for a condo as you would want the Tor Tor 3 or whatever but for a company owning houses it "may" be possible and advantageous to the seller.

[AZZZEY68]

Its called covering your asse there are 4 of us buying on a development so we need just under 200 k uk sterling if we do transaction together we should get a decent rate.

You might want to have a word with the developer and see whether they would "appreciate" the funds being transferred outside Thailand. Now this would not work for a condo as you would want the Tor Tor 3 or whatever but for a company owning houses it "may" be possible and advantageous to the seller.

Yes i dont think he cares as long as he gets paid but we do get a better rate if we buy a large amount.