Bank Loan For Condo

[campyman]

Hello,

Can anybody recommend any banks (and bank representatives) in Bangkok that are currently lending money to foreigners (US) for a condo purchases in Bangkok?

Thanks

Michael

[BangkokWildcat]

Hello,

Can anybody recommend any banks (and bank representatives) in Bangkok that are currently lending money to foreigners (US) for a condo purchases in Bangkok?

Thanks

Michael

HSBC.....search this forum as there are a few recent threads on this.....

[think_too_mut]

Hello,

Can anybody recommend any banks (and bank representatives) in Bangkok that are currently lending money to foreigners (US) for a condo purchases in Bangkok?

Cash or loan, the money for condo purchase MUST come from outside of Thailand.

That's the law.

[CWMcMurray]

Even if you have a work permit in Thailand???

[trajan]

yeah, even if you have a work permit book, the money to purchase a condo in a foreigner's name must be brought into Thailand (evidenced normally by Foreign Exchange Transaction Form(s) you get from the receiving bank here)....

however, if you take the trouble to get a permanent residence book, you do not need to bring the money into Thailand....just use your local Baht (saved or borrowered locally)....

for work permit scenarios, UOB Singapore was (as of end 2008) accommodating on condo loans to foreigners (but the amounts borrowed were denominated in USD or SGD, not THB and were remitted into Thailand.....max loan SGD 1 million or USD 600,000 (not sure if this is still offered)

for residence permit scenarios, UOB Thailand is very helpful for condo loans.... THB fixed term loans (MLR - 0.5% = 6.15% p.a. rates) and THB flexible revolving home equity credit lines with a handy check/cheque book (charged at MOR = 7.15% p.a. rates)

[WhiteShrek]

Most of the foreign banks: UOB, Standard Chartered, HSBC, Citibank, will lend to the Thai spouse of a foreigner, with the foreigner as a guarantee. The foreigner will need a workpermit for Thailand, and reasonable income (at least 50k a month upwards depending on bank). Condo is in Thai spouses name while the loan exists.

[ChiangMaiThai]

Most of the foreign banks: UOB, Standard Chartered, HSBC, Citibank, will lend to the Thai spouse of a foreigner, with the foreigner as a guarantee. The foreigner will need a workpermit for Thailand, and reasonable income (at least 50k a month upwards depending on bank). Condo is in Thai spouses name while the loan exists.

Does anyone know if this is still the case? I have work permit and decent income, but would not be bringing the money in from overseas. Would like to buy a condo in BKK with as little down as possible.

Can anyone point me in the right direction? I rent for 30,000 a month at the moment. My job is now stable and it seems this money would be better used towards buying something... Thanks!

[mark5335]

Most of the foreign banks: UOB, Standard Chartered, HSBC, Citibank, will lend to the Thai spouse of a foreigner, with the foreigner as a guarantee. The foreigner will need a workpermit for Thailand, and reasonable income (at least 50k a month upwards depending on bank). Condo is in Thai spouses name while the loan exists.

Does anyone know if this is still the case? I have work permit and decent income, but would not be bringing the money in from overseas. Would like to buy a condo in BKK with as little down as possible.

Can anyone point me in the right direction? I rent for 30,000 a month at the moment. My job is now stable and it seems this money would be better used towards buying something... Thanks!

Within the last year I got a condo home loan approved under my Thai spouse name (foreigner husband with WP as guarantor) from Standard Chartered. The information above regarding Citibank is incorrect as they don't offier such loans at present. I was also able to get a similar loan from Bangkok Bank in my Thai spouse name. Standard Chartered werre more responsive than Bangkok Bank and loaned us 80% vs our Bangkok Bank loan of 70%