Pr & Loans

[alanw]

This post is mainly directed to other members who also have PR.

I've found a condominium in Bkk (around Baht 4.5Million), and I want to borrow from local bank rather than touch monies in growth fund arrangements.

I understand from other posts that for people with PR it is not necessary, when purchasing condo, for the funds,specific to this purchase, to have come from abroad.

I've also heard that many local banks won't recognise this 'rule'.

I've also heard others say that having PR doesn't change the 'rules' of local banks to require a Thai guarantor.

Any information or advice very much appreciated.

Suggestions of other sources of borrowing, other than local banks very welcome.

Thanks, regards

[PvtDick]

I can't answer your post with much authority, as the only mortgage loan I have taken out in Thailand was before I attained PR.

My guess, though, is that having PR will not release you from the requirement of having a guarantor. I understand that virtually all loans -- whether made by a Thai or foreigner -- have to have a guarantor. I could be wrong, though, and look forward to hearing other poster's views.