Mortage Options For Married Farang

[SiamSquare123]

Anyone have experience? give as many details of the mortgage as possible

1. Singapore Bank

2. Thai Bank - Can the condo be in both of your names and still get the mortgage or can it only be in her name?

[torrenova]

I believe Bangkok Bank stopped issuing mortgages for westerners in the last few months.

Sorry but I suspect your wife would need it to be in her name only and based upon her salary, not your income.

[bendix]

Not really true torrenova. It's relatively straightforward for a married couple (legally married) to get mortgage based only on the farang husband's income.

[engrin]

What proof (document?) of income is acceptable to the bank?

[quiksilva]

These days they are much more strict requiring official tax receipts, in addition to salary slips and bank statements.

Siam Square I dropped you a pm but will also share this link with others as I think it is something that members here could be interested in.

Hamptons International Mortgages

[trajan]

Bangkok Bank home loans for Non-residents

BBL

"Applying for a Home Loan"

Foreigners who wish to purchase a house or condominium in Thailand can now get assistance from Bangkok Bank, the first Thai bank to provide home loans to non-residents. Whether you want to be in the heart of the city or out in the provinces, we can help you become a homeowner.

Simply walk into any one of the following Bangkok Bank branches and talk to one of our Home Loan staff about owning condominium in Thailand.

Head Office Branch on Silom Road Tel. 0-2626-3084,

0-2230-1724, 0-2230-1036

Bukkhalo Branch Tel. 0-2468-3485

Chaeng Watthana Road Branch Tel. 0-2962-2518

Ratchathewi Branch Tel. 0-2216-1577

Bang Kapi Branch Tel. 0-2252-2888

Emporium Branch Tel. 0-2664-9291

Siam Square Branch Tel. 0-2251-8546

Singapore Branch Tel. (65)-6410-0406

E-mail Address: [email protected]

Home Loans for Non-residents

Do you dream of owning a condo in Thailand - for holidaying, retirement or simply as an investment? Now you can, with Bangkok Bank Bualuang Home Loans.

Flexible Options

Bangkok Bank offers a range of loan options tailored to meet your needs. We offer flexible lending and attractively low interest rates.

Borrow up to 70% of the house or condominium’s appraised value or up to US$800,000

Loans can be denominated in one of four currencies – US Dollars, Singaporean Dollars, Euros and Japanese Yen

Repayment term up to 20 years

Competitive interest rate options available

Loan approval within two weeks of application

Interest Rate Options (subject to change)

Loans in US Dollars : US Dollar Prime +0.5% per annum

Loans in Singaporean Dollars : Bangkok Bank Prime Lending Rate in Singapore per annum

Loans in Euros : Euro Prime +1% per annum

Loans in Japanese Yen : Japanese Yen Prime +1.25% per annum

Fees

The processing fee for this loan is USD 1,750 or equivalent. USD 150 or equivalent of this fee is payable upon submitting the loan request, and the final portion of the fee USD 1,600 or equivalent is payable upon signing contract.

All other expenses such as legal, mortgage costs, valuation fee and fire insurance premium shall be borne by the borrower.

Documentation Required

For faster and more efficient service, please bring the following documents with you when you apply for a loan at the branch.

1. Completed Mortgage Loan Application Form

2. Copy of I.D. card (front and back) / passport (essential pages)

3. Signed copy of your Sales & Purchase Agreement or Reserve Agreement

4. A reference letter from your existing bank, addressed to Bangkok Bank Public Co Ltd confirming your relationship with the bank, type of account you hold and

the value of any loans or deposits you hold with the bank.

5. Your last six months worth of bank statements

6. A Credit Bureau Report from your country of residence

7. For employees: A letter from your employer, addressed to Bangkok Bank Public Co Ltd confirming your employment position, the number of years you have been employed and your salary, your last two years’ of Income Tax Returns and the last six months’ worth of computerized pay-slips

8. For Self-Employed individuals: The Balance Sheet Profit & Loss Statements from the last two years

9. Others documents upon request

//

//

Edited July 3, 2007 by trajan

[RAZZELL]

Bangkok Bank home loans for Non-residents

BBL

Very interesting post

If they became freely available it would help a lot of people who don't have the cash to buy outright...

But the cynic in me just think's they'll turn most down and keep the application fee

RAZZ

Edited July 4, 2007 by RAZZELL

[sibeymai]

I've posted this info previously but will repeat again my experience with BBL.

Asked for a loan to buy a house (house in wife's name, legally married in Thailand with work permit for last 3 years, same company). Bank said yes, no problem based on information provided to them about incomes, assets and the purchase (the bank had full information). Paid the deposit then returned to the bank and applied for the loan. Loan denied (bank only offered 50% of purchase price, not 80% which they had previously agreed to). Lost the deposit on the house and loan application fees and valuation fees not refunded.

I doubt I will ever trust a bank in Thailand enough to ask for a loan again.

[TheAceFace]

I've posted this info previously but will repeat again my experience with BBL.

Asked for a loan to buy a house (house in wife's name, legally married in Thailand with work permit for last 3 years, same company). Bank said yes, no problem based on information provided to them about incomes, assets and the purchase (the bank had full information). Paid the deposit then returned to the bank and applied for the loan. Loan denied (bank only offered 50% of purchase price, not 80% which they had previously agreed to). Lost the deposit on the house and loan application fees and valuation fees not refunded.

I doubt I will ever trust a bank in Thailand enough to ask for a loan again.

Similar thing happened to my friend with BBL, agreed on a 80% morgage over 20yrs 5mil, went to the bank to sign all the papers and was told its now 70% over 10yrs....take it or leave it, he had also paid the required deposit for the house.

Have been told SCB are willing to offer morgages to married couples.

[eljeque]

http://www.uob.com.sg/internationalhomeloa...d_homeloan.html

UOB International Home Loan - Thailand

Own Your Dream Condo in Thailand

Now you can own a luxurious condominium in Thailand! With a UOB International Home Loan, you can obtain attractive financing in Singapore and enjoy the convenience of our offshore loan arrangement.

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You’ll also have the flexibility to take up the loan in Singapore dollars or US dollars at attractive interest rates.

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What’s more, repayment can be stretched up to 20 years (provided that the applicant with the highest income is aged 65 years and below at the end of the loan tenor), giving you greater financial flexibility and control over your cash flow.

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