Refinance Of Thai House In Thai Name.

[wildpikey]

Apologies for a thread that has already been touched on before. Does anyone know the answer to this quick question.

House and land paid for in full and property is finished and being lived in.

How much of the value of the property can be refinanced??

The house and land are in a Thai name. Although my fiancee is now nursing a new born baby so does not work, I am the only income.????

[torrenova]

If you look at Siam Commercial and Bangkok Bank and maybe others they will tell you in English what percentage they will lend up to. That is a maximum ceiling point. I would discount that (it is around 85%) by quite a bit.

Now before the credit crunch and falling property prices, you could get non status mortgages in the UK up to abut 85%. Stupid I know but you could. I do not know if Thailand ever had non status mortgages where they take the viewpoint that no fool is going to not pay back a loan of 50%/60%/70% LTV are they ?

If you could not get 50% then there is something very wrong. How much over this you can get I do not know. I do not see the need for any intermediary.

[skybluestu]

If you look at Siam Commercial and Bangkok Bank and maybe others they will tell you in English what percentage they will lend up to. That is a maximum ceiling point. I would discount that (it is around 85%) by quite a bit.

Now before the credit crunch and falling property prices, you could get non status mortgages in the UK up to abut 85%. Stupid I know but you could. I do not know if Thailand ever had non status mortgages where they take the viewpoint that no fool is going to not pay back a loan of 50%/60%/70% LTV are they ?

If you could not get 50% then there is something very wrong. How much over this you can get I do not know. I do not see the need for any intermediary.

You'd think that would be the case but I applied for a home loan from Bangkok Bank in Oct 2008, the guy in the bank said no problem as I had everything they required ie Work Permit, Thai Spouse, Employment Contract and he said they would lend 60% with me paying the other 40%. After around 2 months they eventually said No so I re-applied asking for only 50% but they again said No! The guy at my local branch then got the area manager to ask the decision makers in BKK if they would reconsider and last week they offered me only 40% with the repayments over a much shorter time period. So I went to SCB yesterday and they guy there again said no problem but this time I will know within 2 weeks but I'm not getting my hopes up.

[ignis]

Things are very strange here... Thai Friend took out a small mortgage on a detached 2.2 million house, now the interest is much lower then he is paying at the moment, so he thought it would be no problem to re-mortgage..

One would think the answer would be yes, he is Thai, worked at the same company for 15 years, has a car loan and has a mortgage for 5 years + a credit card, Never missed a payment, no debts.. Owing on present mortgage 409,000 baht, wanted a new mortgage for 800k total for an extension to the house for family members to also live at the house, and do away with the present mortgage which is 7.5%.

His present mortgage Company + K Bank + SCB all have come back this month with NO..

The same houses are now selling between 2.8 and 3.1 million, + he want to rebuild a bigger kitchen with on suite bedroom above total size 10m x 3.7m, which would add more value.... he is only asking for the total of 800,000..!!! All these Banks are offering up to 90% re-mortgage