Condo Loans For Singaporean-based Expats

[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.

You'll enjoy:

Up To 70% Financing

Whether you are buying a dream home for owner occupation or investment, you’ll have financing of up to 70% of the purchase price or valuation price, whichever is lower.

Choice of Loan Currency

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

Repayment Period Of Up To 20 Years

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.

With our monthly-rest instalment plan, you’ll enjoy more interest savings as the principal amount is reduced every month.

Eligibility

UOB International Home Loan - Thailand is open to Singapore citizens, Singapore Permanent Residents or foreigners aged 21 and above with a minimum income of USD 65,000 per annum or SGD 100,000 per annum.

How do I apply?

Speak with our bankers today and we’ll tailor a home loan package to suit your needs. To apply, simply complete the application form and submit it with the relevant documents to our bankers.

For details, please call our 24-hour Customer Service hotline at 1800 2222 121 now.

Where can I get more information?

Read our Frequently Asked Questions

Terms and conditions apply.

Note: The above does not constitute an offer, an invitation to offer, a solicitation or recommendation to enter into or conclude any transaction and is issued for information and discussion purposes only. Actual transactions are handled according to the actual circumstance of each case. Final terms may differ and loan approval is subject to the Bank’s final credit assessment.

[trajan]

FAQs

Q1. What are the benefits of a UOB International Home Loan-Thailand?

• Financing of up to 70% of the purchase price or valuation price (whichever is lower)

• Attractive interest rates

• Choice of loan currency: SGD or USD

• Repayment period of up to 20 years

Q2. What type of properties can I purchase with the loan?

Freehold condominiums for owner occupation or investment purposes in Thailand.

Q3. What are the interest rates offered?

• Loan in SGD: SGD Prime Lending Rate (currently 5.00%) + 1.00% = 6.00% p.a.

• Loan in USD: USD Prime Lending Rate (currently 8.25%) + 0.50% =8.75%p.a.

Q4. What is the maximum loan amount that I can borrow?

The maximum loan amount that you can borrow is up to 70% of the purchase price or valuation price (whichever is lower). In terms of dollar value, the maximum loan amount is SGD 1,000,000 or USD 600,000.

Q5. What is the maximum loan repayment period?

The maximum loan repayment period is 20 years or up to the point when the borrower with the highest income turns 65 years old.

For example, if the borrower with the highest income is 50 years old now, the maximum loan repayment period is 15 years.

Q6. Is there any fee involved in the loan application?

A processing fee of SGD 3,000 or USD 2,000 is payable upon the acceptance of letter of offer.

For amendment of loan application/re-processing after the approval of the facility, an amendment fee of SGD 150 or USD 100 will be applicable.

Q7. Can I get an in-principle approval for my loan?

Yes, you can obtain an in-principle approval for your loan that is valid for three months from the approval date. This is subject to a fee of SGD 100 or USD 100 and only one in-principle approval will be granted for each application.

Q8. Are there any cancellation charges?

The cancellation fee is 1.50% of the approved loan amount.

Q9. Am I allowed to do a loan prepayment?

Prepayment of loan is allowed, subject to a flat fee of 1.50% of the prepaid loan amount.

Q10. Do I have to pay for expenses such as legal fees, valuation fee, fire insurance or any other charges?

All expenses including legal fees, mortgage costs, remittance charges, annual valuation fee and fire insurance premium shall be borne by the borrower(s).

Q11. Am I eligible?

UOB International Home Loan – Thailand is open to Singapore citizens, Singapore Permanent Residents or foreigners aged 21 and above with a minimum income of USD 65,000 or SGD 100,000 per annum.

Q12. How do I apply?

To apply, please complete the UOB International Home Loan – Thailand application form and submit it with the following documents:

Copy of NRIC (front and back)/Passport (with valid expiry date) of all applicants

Signed copy of the Sales & Purchase Agreement (Reserve Agreement)

Original income documents:

For Salaried: - Employer’s letter addressed to UOB confirming position, years of service and remuneration OR - Recent Income Tax returns OR - Latest computerised pay-slip OR - Latest 6 months’ bank statements

For Self-employed: - Company registration AND - List of shareholders AND - Latest 6 months’ bank statements And - Recent 2 years’ Income Tax returns

Standby Letter of Credit (SBLC) Application Form (from Bank)

Consent form for credit bureau checks for applicants residing in Thailand (if applicable)

Deed poll/certificate of name change (if name differs from NRIC/Passport)

Other documents upon request

Q13. Who can I contact to take up the UOB International Home Loan-Thailand?

In Singapore, please call our 24-hour Customer Service hotline at 1800 2222 121.

In Thailand, please contact the following UOB (Thai) branches:

Amarin Plaza Branch

500 Amarin Plaza 1st Floor

Ploenchit Road Pathum Wan

Bangkok 10500

Tel: 0-2252-6292-3 / 0-2251-8579 /

0-2251-0896 / 0-2256-9045-6

Fax: 0-2252-7871

Business Hours:

Mon-Fri 08:30-17:00

Sat 11:00-17:00

Sathorn 1 Branch

191 South Sathorn Road Sathorn

Bangkok 10120

Tel: 0-2343-3000

Fax: 0-2287-2973-4

Business Hours:

Mon-Fri 08:30-15:30

Sathorn 2 Branch

179/3 Bangkok City Tower

1st Floor South Sathorn Road Sathorn

Bangkok 10120

Tel: 0-2679-5700-2

Fax: 0-2679-5703

Business Hours:

Mon-Fri 08:30-15:30

Sukhumvit 25 Branch

1 Ban Chang Glass House Building

1st Floor Sukhumvit 25 Road Klong Toey

Bangkok 10500

Tel: 0-2258-0270-1 / 0-2258-9330-2

Fax: 0-2258-4582

Business Hours:

Mon-Fri 08:30-15:30

Sukhumvit 26 Branch

690 Sukhumvit Road, Klong Toey,

Bangkok 10110

Tel: 0-2620-3888-90

Fax: 0-2260-5312

Business Hours:

Mon-Fri 08:30-15:30

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[think_too_mut]

Too nice.

One before (via BKK Bank) had a catch - the minimum amount borrowed was significant, driving applicants towards properties of 6 mil baht +.

And, is it really for Singapore based foreigners or income must be made in Singapore?

It says "UOB International Home Loan – Thailand is open to Singapore citizens, Singapore Permanent Residents or foreigners aged 21 and above with a minimum income of USD 65,000 or SGD 100,000 per annum.".

Edited July 6, 2007 by think_too_mut

[trajan]

it seems like the condo loans are available for any expats....why not ask at any of those branches in Bangkok

[think_too_mut]

it seems like the condo loans are available for any expats....why not ask at any of those branches in Bangkok

I'm in Nagoya now, someone currently in BKK may be interested to make a call and report what was said.

[think_too_mut]

it seems like the condo loans are available for any expats....why not ask at any of those branches in Bangkok

I'm in Nagoya now, someone currently in BKK may be interested to make a call and report what was said.

Nobody, how comes?

I would think those real estate pumpers would be calling and competing to offer the source of the funds to prospective buyers for the properties on their databases.

Or were it only 4 of them, unable to access the Internet right now (and for a forseeable future)?