Anyone know how exactly does it work to get a loan by depositing the Chanote title at the bank?

 

Are there any requirements?

How much money they give? Based on the higher real market value or on the lower value that is written with the Land Office?

The value at the Land Office is 4.000.000 THB, the real market value should be something like 13.000.000 THB.

And most importantly: How long does it take?

 

 

Edited April 28, 20224 yr by Patty123

Presumably this is in your wifes name ?

 

IF SO, She is the one who needs to talk with the local Manager, You have no say in any of it from a legal standpoint and I doubt they will even make eye contact with you.

 

She needs to collect the info and relay back to you.

 

 

They will not give more than maybe 70 - 80 % of what that Land Office tells them.

The bank will likely send someone to value the land, whether they will offer more than the land office number is unknown.

 

What is the purpose of the loan? If it's to build a house you might be able to get a "construction loan" how that actually differs from a normal loan against the land is also unknown.

 

Be prepared for the long game, especially if your income is involved, extra, and then more extra documentation is the norm.

 

For some perspective our construction loan from SCB was actually approved a couple of months before we moved in (I financed the job in the meantime), SCB then converted to a mortgage for us without actually asking ???? 

 

As with anything in Thailand (and especially bank related) YMMV.