Financing?

[girlx]

is financing available for foreigners investing in thailand? (ie. for property, cars) do thais base everything on the concept of credit like western countries? advice?

[StuartinBKK]

How much do you need?

[toastwars]

What do you need it for? and it also depends where you are from. it is a little difficult to answer if you provide such little detail. are you wanting to start a company here or develop property?or are you just looking for credit?

[girlx]

looking for nothing... just wondering. say i wanted to buy a house or a car, and didn't have enough to cover anything past a small down payment. would i be able to get a loan somewhere and if so how does that work? would i need to go through a thai partner?

[Harmonica]

looking for nothing... just wondering. say i wanted to buy a house or a car, and didn't have enough to cover anything past a small down payment. would i be able to get a loan somewhere and if so how does that work? would i need to go through a thai partner?

Go on home girlie and get a job.

[paulfr]

I know many people have gotten loans here in LOS.

But they had work permits and could show verifiable income or assets that would support the loan approval. Similar/Same concepts as Western finance but harder (with more skepticism, hoops and fewer lenders willing) because you are farang.

Bangkok Bank and KasikornBank are farang friendly so they may be the place to find out what the accepted ratios are.

[girlx]

i do make my money from home thanks mr. harmonica... like i said i was just wondering. i have a farang friend who is buying a condo and a car here in the next month, and i know she doesn't have enough cash to cover them. she also doesn't work here or have a work permit- she's an airline stewardess here part time. her thai boyfriend mentioned she can get a loan if it's in his name too and he puts his house in isaan up for collateral... i didn't know this was possible. wondering how loans for farangs work in thailand. and i am still not clear on whether thais have a credit record like for example in the US, that follows them their whole life and is checked before any financing is given?

[toastwars]

Another scammer!

[StuartinBKK]

I repeat myself:

How much do you require?

[trajan]

i do make my money from home thanks mr. harmonica... like i said i was just wondering. i have a farang friend who is buying a condo and a car here in the next month, and i know she doesn't have enough cash to cover them. she also doesn't work here or have a work permit- she's an airline stewardess here part time. her thai boyfriend mentioned she can get a loan if it's in his name too and he puts his house in isaan up for collateral... i didn't know this was possible. wondering how loans for farangs work in thailand. and i am still not clear on whether thais have a credit record like for example in the US, that follows them their whole life and is checked before any financing is given?

<{POST_SNAPBACK}>

I got a condo loan from HSBC Bank here in Bangkok (but they, of course, took a mortgage on the condo title deed), but I have a work permit and long time job here.....HSBC was super nice and even visited my office to process the paper work and applications (I didnt even need to walk into their offices).....

but I think it might be a bit difficult for your friend to borrow locally in her circumstances. She might be able to get a loan if her (hopefully employed) boyfriend guarantees the loan and he also volunteers to put up sufficient title deeds to secure the loan (or more accurately, to secure his personal guarantee, which in turn secures the loan) (wow, what a nice, generous and trusting boyfriend! )....

your friend should probably talk to Citibank, HSBC or Standard Chartered Nakornthon Bank here in Bangkok....they seem to be the most foreigner sensitive and friendly bank branches....

[girlx]

she has already gotten the loan apparently, i was just wondering how she got it- yes maybe for future reference for myself but definitely not now. her boyfriend has his own business and i guess he secured it for her too, it's the only thing that makes sense. again, didn't realize that was possible. i have often heard of it going the other way around, but...

[trajan]

she has already gotten the loan apparently, i was just wondering how she got it- yes maybe for future reference for myself but definitely not now.  her boyfriend has his own business and i guess he secured it for her too, it's the only thing that makes sense. again, didn't realize that was possible. i have often heard of it going the other way around, but...

<{POST_SNAPBACK}>

Yes, I think it is possible....the trick is to find a financially independent Thai boyfriend and have him secure the loan (or just have him directty borrow the funds and then for him to lend the loan disbursement to you on an unsecured basis )

however, I dont think you can locally borrow directly from the bank on the strength of your own overseas earning (unless you have a very strong banking relationship with the head offfice overseas---for example with Citibank, HSBC or Standard Chartered overseas).

also, if you are planning to buy a condo in Thailand in your own name (and you dont have a Residence Permit), then even if you borrow from any source, you will still need to show official evidence (form Tor Tor 3) that you remitted the purchase funds into Thailand.

Edited March 2, 2005 by trajan

[toastwars]

she has already gotten the loan apparently, i was just wondering how she got it- yes maybe for future reference for myself but definitely not now.  her boyfriend has his own business and i guess he secured it for her too, it's the only thing that makes sense. again, didn't realize that was possible. i have often heard of it going the other way around, but...

I'm kind of glad you ain't my friend, nosing into my private finances and business, who needs enemies?