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Farang with house, want to use as collateral to purchase additional property.

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On 10/4/2022 at 7:21 PM, Old Farang said:

So far I would concur with what everyone has said, but I have very limited experience with this kind of thing, especially in Thailand. What I’m hearing here is that Thailand is not that different from other countries I have lived in.

 

 

True, the subject is:    Banking: Risk Manangement

 

Banks all over the world use pretty much the exact same principles.

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  • Liverpool Lou
    Liverpool Lou

    If you or your wife have the required income to justify the loan you shouldn't have a problem with any bank.  Your own bank, or her bank, wouldn't be a bad place to start.   If you're hoping

  • Liverpool Lou
    Liverpool Lou

    For any credibility with a bank, a company applying for a loan would have to be established, trading and have accounts for the bank to check.    

  • Old  Farang
    Old Farang

    Yes this is what I suspect too, but lawyer suggesting this, I am skeptical. They suggest only 3 months of banking records required for business, again I am very skeptical, dont trust lawyers.  

On 10/4/2022 at 1:53 PM, Old Farang said:

What is source of this? Is this still valid, ie how old is this info?

Punishing interest rate and fee schedule, you would really have to have some other piece of gold in mind to pay all that to get a loan at 12%! Wow

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