Mortgage

[glenn66uk]

Are there any expats from the UK who have been able to get a mortgage in Thailand?

What is the proceedure?

Ive heard that Bangkok Bank will do mortgages for farangs.....Is this true?

Also been told that HSBC bank does mortgages for Thailand....Is this true?

Thx

Glenn

[rgw]

Are there any expats from the UK who have been able to get a mortgage in Thailand?

What is the proceedure?

Ive heard that Bangkok Bank will do mortgages for farangs.....Is this true?

Also been told that HSBC bank does mortgages for Thailand....Is this true?

Thx

Glenn

Not a mortgage for yourself, but for your thai spouse they can do. (UOB is willing, depending on quality of the project they can do 95% of appraisal value >> so actually more then 100%)

[Moonfruit]

^^ Not True.

UOB are willing to loan up to 90% of their appraisal value, which may be more or less than what you are paying. However, only completed units and condos only, no houses. No Thai spouse is needed, however you must prove income of more than or equal to 60,000USD/100,000SGD per year. Bangkok Bank no longer offer mortgages to foreigners i was told by UOB last month, however a friend of mine who is a developer here in Thailand says that he is able to offer his buyers mortgages through Bangkok Bank, however with terms of maximum 10 years.

[pkrv]

^^ Not True.

UOB are willing to loan up to 90% of their appraisal value, which may be more or less than what you are paying. However, only completed units and condos only, no houses. No Thai spouse is needed, however you must prove income of more than or equal to 60,000USD/100,000SGD per year. Bangkok Bank no longer offer mortgages to foreigners i was told by UOB last month, however a friend of mine who is a developer here in Thailand says that he is able to offer his buyers mortgages through Bangkok Bank, however with terms of maximum 10 years.

Hi Moonfruit - I assume you are also lumping in work permits? God this is tricky stuff we have to be precise. Otherwise funds from overseas (however that is done, even via the mortgage route)

[Chaimai]

Also been told that HSBC bank does mortgages for Thailand....Is this true?

Thx

Glenn

No. not true.

http://www.hsbc.co.th/1/2/home-en

[rgw]

Also been told that HSBC bank does mortgages for Thailand....Is this true?

Thx

Glenn

No. not true.

http://www.hsbc.co.th/1/2/home-en

I found UOB and Standard Chartered to be willing to give mortgages to Thai/Farang couples (Farang as guarantor only unfortunately)

Not the perfect solution offcourse, but yes, that works fine, no problem.

95% of appraisal value, on a new and completed HOUSE (not a Condo) in a decent project.

Just transferred the house last week.

Be carefull with Standard Chartered, when you go there and fill in all the paperwork, they slip in an application form for a platinum credit card as well. I have already from SCB, so I told them I don't need another credit card. Then they changed it to an application form of a different credit card that would only be approved once the loan got approved.

[stgrhe]

Also been told that HSBC bank does mortgages for Thailand....Is this true?

Thx

Glenn

As a matter of fact they do but you need to be an "Expatriate with Alien Certificate or Certificate of Resident who is working and living in Thailand" and have a minimum income annually of THB 360,000.

This is what HSBC home page says:

"HSBC offers a selection of mortgage loans to satisfy your individual financing needs, from first time home buyers to investors. Choose from our two repayment options to suit your requirements: monthly installment or fortnightly installment. At HSBC, we also offer you free personalized support service so that you can select your mortgage plan with ease and convenience.

Loan Purpose:

To purchase single house, twin house, town house and condominium for residential or investment purpose

Loan Features:

Loan amount: THB 1,500,000 - THB 35,000,000

Maximum loan period: 30 Years

Maximum loan-to-value:

- Single house, townhouse and twin-house: 80% of appraisal value or purchase price, whichever is lower.

- Condominium: 70% of appraisal value or purchase price, whichever is lower.

Interest rate: Please refer to Interest Rate page

Eligible Customers

Age between 20 - 65 years old

Thai / Expatriate with Alien Certificate or Certificate of Resident who is working and living in Thailand

Minimum gross income THB 360,000 per annum

Own your home sooner and save on interest, or repay less in the earlier years. The choice is up to you!

For further information, please visit our branch, or call our Personal Phonebanking or Automated Phonebanking on 0-2614-4722."

What is not written, but what HSBC told me when I visited their head office in Bangkok, is that they would only provide loans for properties within the Bangkok Metropolitan Area.

[Gravelrash]

Generally it is not easy to get finance in Thailand. A website in Chiang Mai has a few condos offering finance but I suspect that it is vendor finance, besides that would only be useful if you wanted to live in Chiang Mai. PM though if interested in the link.