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Loan In Thai Bank?


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Got a mortgage loan through Krung Thai Bank which is a government bank. The loan is in the wife's name and i am guarantor. Wife has no income and I had to prove my pension income. Loan is over a 10yr period.

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Got a mortgage loan through Krung Thai Bank which is a government bank. The loan is in the wife's name and i am guarantor. Wife has no income and I had to prove my pension income. Loan is over a 10yr period.

What was the target for the loan - may I ask? To buy an existing ready-to-move-in property, or to build a new one on a totally empty land - from sctatches, by your own custoomized building plan? Mine is second...

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  • 2 months later...
Got no luck with every bank - all were rejected the application. :D

Will prepare for the second try. :)

That's a shame :D

Did you get given reasons for the rejections so you can address the issues??

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You have chance with things in your wife name, your work permit, proof of any other income. Your chances are very good if she show proof the land you are building the house on is in fact in her name. Good luck, go for it, sound like you might just have a winning hand. :D:):D Siam Commerical Bank would be a good starting point, it work for US. :D:D:D

Edited by BigSnake
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Got no luck with every bank - all were rejected the application. :D

Will prepare for the second try. :)

IMO the problem is the amount! Yes, some say now, you can borrow up to 100% (have my doubts for foreigners) of the value but that would still be only between 1 and 2 million not 6 million!

COMMERCIAL BANKS never going to loan more than the value of the property. how many million non performing loans do they have already? They're going to be extra careful.

Sorry, but I would be very amazed if you get a loan from a bank. You'll have to try another way to build the house.

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I looked into this a little - I understood that to get a loan I had to transfer my house ( sell ) to my wife from my company - They said no problem if I would guarantee payments , - For a 5 Million Loan 4.5% for 3 years - Sounds OK BUT the tax to transfer from my company to my wife would be about 10% of the loan ? which makes it totally unacceptable .

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I looked into this a little - I understood that to get a loan I had to transfer my house ( sell ) to my wife from my company - They said no problem if I would guarantee payments , - For a 5 Million Loan 4.5% for 3 years - Sounds OK BUT the tax to transfer from my company to my wife would be about 10% of the loan ? which makes it totally unacceptable .

I've not tried this but.....

Is your company 'real' i.e. trading? It may be possible for the company to get a loan rather than an individual (my stepson did this with his restaurant to buy the car park).

No idea if it's likely to be a runner, but an alternative route may just get you to the goal :)

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