Thai expat loans

[pontious]

Anyone had any deals with this company.?

[Crossy]

Do you have a link??

 

[pontious]

2 minutes ago, Crossy said:

Do you have a link??

 

www.thaiexpatloans. com

[wordchild]

Never heard of them but had a quick look at their site.

1.25% per month for minimum term of 12 months ie annual equivalent rate of around 16%!

Needs to be fully secured against your Thai property. (This is complicated under Thai law, for a non banking institution, and my guess is that the borrower would likely have to transfer ownership to them in some form  -- maybe an enforceable purchase contract for the loan amount-- just my guess) In any event highly risky- for the borrower.

 

Only for the seriously desperate!

Edited March 6, 2023 by wordchild

[wordchild]

So their target market is farangs who are so desperate for cash that they are prepared to borrow at a 16% rate. 

And, these "desperate" farangs also need to have full, unencumbered, ownership of a condo in Bangkok or Pattaya, with a value somewhat greater than the amount they need to borrow.

 

For someone in that situation it would surely make much greater sense to simply sell their property and realize the cash they need that way.

[pontious]

14 hours ago, Crossy said:

Do you have a link??

 

Think this can be closed now Crossy.