Thai Buying A House In Her Name

[torrenova]

I'm looking to rent a house in East Pattaya but I would like my missus to buy one on mortgage say in a year's time. Now at the moment, she does not have a financial history as such but I am in the process of building her one.

She has a "job"in a company which "pays" her around Bt40,000 a month net. This should be sufficient for purchasing a car at Bt15,000 or so per month.

Looking at various banks' websites, they quote a salary multiple of 2.5 to 3.0 times the monthly repayment as being the minimum requirement. Does anyone know if this is net or gross ?

NOw specifically. Has anyone had their partner or friend apply and be approved for a mortgage in Thailand ? If so, what documents are needed ? Do they have to provide tax records etc. or are payslips and corresponding bank deposits enough ? If so, over what period of time do these payments have to be made ?

I am thinking that I may have to "legitimise" her and pay the tax on her "income". If I then marry her, I can get my bloody visa as well because I am under 50 and don't need to work but like to "own" businesses.

What is the best and most cost effective way to put her in a position whereby in say 12 months time she can get a mortgage off a Thai bank ?

Cheers

[Livinginexile]

A friend of mine did the same thing for his Mrs but he did it over time.

First he bought a couple of nice condo's in his name...then he opened a company in his Mrs name and directed the rent to her.

She also had her income directed to her company and then after a couple of years her little company looked good on the books and she was able to borrow from the banks on the strength of her company earnings.

To me it was a win-win situation with little risk on his side.

[aznyron]

I'm looking to rent a house in East Pattaya but I would like my missus to buy one on mortgage say in a year's time. Now at the moment, she does not have a financial history as such but I am in the process of building her one.

She has a "job"in a company which "pays" her around Bt40,000 a month net. This should be sufficient for purchasing a car at Bt15,000 or so per month.

Looking at various banks' websites, they quote a salary multiple of 2.5 to 3.0 times the monthly repayment as being the minimum requirement. Does anyone know if this is net or gross ?

NOw specifically. Has anyone had their partner or friend apply and be approved for a mortgage in Thailand ? If so, what documents are needed ? Do they have to provide tax records etc. or are payslips and corresponding bank deposits enough ? If so, over what period of time do these payments have to be made ?

I am thinking that I may have to "legitimise" her and pay the tax on her "income". If I then marry her, I can get my bloody visa as well because I am under 50 and don't need to work but like to "own" businesses.

What is the best and most cost effective way to put her in a position whereby in say 12 months time she can get a mortgage off a Thai bank ?

Cheers

I was told by a women working in siam bank in udon thani it would be much easier if you were married to your thai g/f since your income now becomes her income as well as what she earns can all be added together just a friendly note mortgage the hel_l out of the house this way if any thing unexpected should happen you can walk away with out to much of a loss I do want to say always check out information you read in here because my info could be wrong

[AZZZEY68]

I'm looking to rent a house in East Pattaya but I would like my missus to buy one on mortgage say in a year's time. Now at the moment, she does not have a financial history as such but I am in the process of building her one.

She has a "job"in a company which "pays" her around Bt40,000 a month net. This should be sufficient for purchasing a car at Bt15,000 or so per month.

Looking at various banks' websites, they quote a salary multiple of 2.5 to 3.0 times the monthly repayment as being the minimum requirement. Does anyone know if this is net or gross ?

NOw specifically. Has anyone had their partner or friend apply and be approved for a mortgage in Thailand ? If so, what documents are needed ? Do they have to provide tax records etc. or are payslips and corresponding bank deposits enough ? If so, over what period of time do these payments have to be made ?

I am thinking that I may have to "legitimise" her and pay the tax on her "income". If I then marry her, I can get my bloody visa as well because I am under 50 and don't need to work but like to "own" businesses.

What is the best and most cost effective way to put her in a position whereby in say 12 months time she can get a mortgage off a Thai bank ?

Cheers

I was told by a women working in siam bank in udon thani it would be much easier if you were married to your thai g/f since your income now becomes her income as well as what she earns can all be added together just a friendly note mortgage the hel_l out of the house this way if any thing unexpected should happen you can walk away with out to much of a loss I do want to say always check out information you read in here because my info could be wrong

I am in the process of doing this at the moment i stand as her guarentee so i am in Pattaya on SAT im going to Bangkok bank to see about Mort.

[Livinginexile]

I'm looking to rent a house in East Pattaya but I would like my missus to buy one on mortgage say in a year's time. Now at the moment, she does not have a financial history as such but I am in the process of building her one.

She has a "job"in a company which "pays" her around Bt40,000 a month net. This should be sufficient for purchasing a car at Bt15,000 or so per month.

Looking at various banks' websites, they quote a salary multiple of 2.5 to 3.0 times the monthly repayment as being the minimum requirement. Does anyone know if this is net or gross ?

NOw specifically. Has anyone had their partner or friend apply and be approved for a mortgage in Thailand ? If so, what documents are needed ? Do they have to provide tax records etc. or are payslips and corresponding bank deposits enough ? If so, over what period of time do these payments have to be made ?

I am thinking that I may have to "legitimise" her and pay the tax on her "income". If I then marry her, I can get my bloody visa as well because I am under 50 and don't need to work but like to "own" businesses.

What is the best and most cost effective way to put her in a position whereby in say 12 months time she can get a mortgage off a Thai bank ?

Cheers

I was told by a women working in siam bank in udon thani it would be much easier if you were married to your thai g/f since your income now becomes her income as well as what she earns can all be added together just a friendly note mortgage the hel_l out of the house this way if any thing unexpected should happen you can walk away with out to much of a loss I do want to say always check out information you read in here because my info could be wrong

I am in the process of doing this at the moment i stand as her guarentee so i am in Pattaya on SAT im going to Bangkok bank to see about Mort.

Why buy a house in her name???

Why not buy a condo in your name...or at the least in both your names?

Think about this...would you do the same in your country?

If things turn sour, you loose ALL your money.

This story USUALLY ends in tears.

[AZZZEY68]

I'm looking to rent a house in East Pattaya but I would like my missus to buy one on mortgage say in a year's time. Now at the moment, she does not have a financial history as such but I am in the process of building her one.

She has a "job"in a company which "pays" her around Bt40,000 a month net. This should be sufficient for purchasing a car at Bt15,000 or so per month.

Looking at various banks' websites, they quote a salary multiple of 2.5 to 3.0 times the monthly repayment as being the minimum requirement. Does anyone know if this is net or gross ?

NOw specifically. Has anyone had their partner or friend apply and be approved for a mortgage in Thailand ? If so, what documents are needed ? Do they have to provide tax records etc. or are payslips and corresponding bank deposits enough ? If so, over what period of time do these payments have to be made ?

I am thinking that I may have to "legitimise" her and pay the tax on her "income". If I then marry her, I can get my bloody visa as well because I am under 50 and don't need to work but like to "own" businesses.

What is the best and most cost effective way to put her in a position whereby in say 12 months time she can get a mortgage off a Thai bank ?

Cheers

I was told by a women working in siam bank in udon thani it would be much easier if you were married to your thai g/f since your income now becomes her income as well as what she earns can all be added together just a friendly note mortgage the hel_l out of the house this way if any thing unexpected should happen you can walk away with out to much of a loss I do want to say always check out information you read in here because my info could be wrong

I am in the process of doing this at the moment i stand as her guarentee so i am in Pattaya on SAT im going to Bangkok bank to see about Mort.

Why buy a house in her name???

Why not buy a condo in your name...or at the least in both your names?

Think about this...would you do the same in your country?

If things turn sour, you loose ALL your money.

This story USUALLY ends in tears.

DEPENDS AS SHE IS PAYING FOR IT.

[donx]

I have a similar question regarding a slightly different situation. My Thai wife and I live in the United States. She is a housewife with no official salary. We are looking into the possibility of her buying some land. I have a good salary in the US and I can borrow money here to pay for the land but I would prefer to see if we could borrow money in Thailand instead. I prefer this route because I believe in the long run the Thai baht will weaken against the US dollar and I also believe that we should be able to get a better interest rate in Thailand. I know of friends that did this but the difference was that they were living and working in Thailand.

Personally, I don't see how a Thai bank would be willing to lend my wife money. My wife believes she can because two years ago her friend who works in a bank told her if she ever needed to borrow money to come see her and she would get her a loan.

Has anyone living outside Thailand ever secured a loan for land in Thailand?

[AZZZEY68]

I have a similar question regarding a slightly different situation. My Thai wife and I live in the United States. She is a housewife with no official salary. We are looking into the possibility of her buying some land. I have a good salary in the US and I can borrow money here to pay for the land but I would prefer to see if we could borrow money in Thailand instead. I prefer this route because I believe in the long run the Thai baht will weaken against the US dollar and I also believe that we should be able to get a better interest rate in Thailand. I know of friends that did this but the difference was that they were living and working in Thailand.

Personally, I don't see how a Thai bank would be willing to lend my wife money. My wife believes she can because two years ago her friend who works in a bank told her if she ever needed to borrow money to come see her and she would get her a loan.

Has anyone living outside Thailand ever secured a loan for land in Thailand?

BANGKOK BANK ...have already offered me loan over the telephone if that helps and i am living in the UK.

[quiksilva]

Torrenova my wife and I just did this ourselves, although my wife is employed. She applied for the mortgage and I acted as her guarantor. My income did not determine how much we could borrow, however.

She only had to show wage slips and bank statements for six months (as did I), however we applied for this last year, and I have heard that is harder today and actual tax statements are needed for both the mortgagee and the guarantor.

Hope this helps, good luck with it!

[AZZZEY68]

Yes i am off saturday im looking to do a 50% share each with say a deposit of 10 k then we pay in installments etc until the property is finished if that helps you.The rate is the same as here but i can put enough in account in one go to cover our mort payments.