lannachiangrai Posted April 3, 2005 Share Posted April 3, 2005 I am interested to know how difficult it is to get a mortgage if the property has a chanot and is in my wife's name? What bank would you recommend? Link to comment Share on other sites More sharing options...
ProThaiExpat Posted April 3, 2005 Share Posted April 3, 2005 If your wife has a job and can qualify on her own, no problem. Sometimes a falang guarantee helps. Large deposits at the lender bank is persuasive. There are so many variables involved, ie. length of mortgage, debt ratio, percentage of loan to value in addition to the credit worthiness of the borrowers, that I guess is that you just need for her to shop around and apply. Link to comment Share on other sites More sharing options...
aletta Posted April 4, 2005 Share Posted April 4, 2005 If you have a business then a mortgage is no problem. Link to comment Share on other sites More sharing options...
skycop Posted April 5, 2005 Share Posted April 5, 2005 What if you do have income but retired, and have some money in the till. skycop If you have a business then a mortgage is no problem. <{POST_SNAPBACK}> Link to comment Share on other sites More sharing options...
aletta Posted April 5, 2005 Share Posted April 5, 2005 skycop.the crucial thing that allowed me to get a mortgage was the fact that my income is generated in THIS country. You can have millions in a foreign bank or foreign shares and have no chance of a loan.Thai banks stick very closely to the letter of the law. Link to comment Share on other sites More sharing options...
Dr. Burrito Posted April 5, 2005 Share Posted April 5, 2005 One thing though, if you do have all the proper bits in plce, company/job, etc..., its a fairly painless process. Bank came over to te office, sorted out everyhting and were exceptionally efficient. We used Siam Commercial and I couildn't be happier with the whole process Link to comment Share on other sites More sharing options...
aletta Posted April 5, 2005 Share Posted April 5, 2005 As long as you have all the right bits of paper you're laughing. Link to comment Share on other sites More sharing options...
nokmdk Posted April 7, 2005 Share Posted April 7, 2005 My Thai wife makes enough to have a bank ok the paper. But to be safe we used me as a co-signer. seems the second i was there as the co-signer and showed me papers, they were happy as could be and no problems. Of course knowing others that can help really smooths the process along. Link to comment Share on other sites More sharing options...
Dragonman Posted April 7, 2005 Share Posted April 7, 2005 My wife doesn't work and I have no income in Thailand. Bank Manager OK for me as guarantor based on my pension statement from UK and 3 months bank statements from my bank in UK. They then valued the property.Required 25% deposit. Did have to open an account, but only have few thousand baht in it. The local developer building the house arranged the meeting and as everything in Thailand it helps to know somebody who knows somebody. Probably helps if the property is 1.5 million not 4.5 million! Link to comment Share on other sites More sharing options...
NotaNutter Posted April 9, 2005 Share Posted April 9, 2005 Anybody managed to get a mortgage with a company rather than guaranteeing the wife? If so, with which bank? Cheers. Link to comment Share on other sites More sharing options...
Digger Posted April 9, 2005 Share Posted April 9, 2005 Anybody managed to get a mortgage with a company rather than guaranteeing the wife? If so, with which bank? Cheers. <{POST_SNAPBACK}> I have had multiple mortages running at the same time with Siam Commerical Bank on different properties all of which had been based solely on my financial position. Typically 40-50% down and repayments over 5 years. No guarantee or anything sought. Mortgages in the names of the company that owned the property but credit rated on myself. At the time I was working for a major Multinational with a high salary in Thailand, land assets here and substantial off-shore bank accounts. Piece of cake really, but currently am debt free waiting to build up next project. This dates back 2/3 years. Link to comment Share on other sites More sharing options...
NotaNutter Posted April 10, 2005 Share Posted April 10, 2005 Thanks Digger, Link to comment Share on other sites More sharing options...
bkk_mike Posted April 12, 2005 Share Posted April 12, 2005 (edited) We got a mortgage for my wife based on the rental income from our flat in London. (i.e. That can be classed as her income rather than mine). Didn't need to be Thai income, but our mortgage was less than 20%, so no real issues. They were really just looking for some sort of income in my wife's name to sign off on it as they wouldn't be allowed to issue a mortgage based on my income... Edited April 12, 2005 by bkk_mike Link to comment Share on other sites More sharing options...
stevemarkwell Posted May 1, 2005 Share Posted May 1, 2005 (edited) Hopefully this thread is still somewhat active; I've found a lot of good information here -- thanks. I'm planning a move toward the end of the year from the US to the Chiang Mai area, and I want to buy some land and build a house. I'll be setting up a company, not just to be able to buy property, but that's admittedly mt primary motivation. My question is: is it easier to get financing for new construction, or to refinance an existing home? I will be selling my home in the States, which will give me enough for a down payment either way, and I have access to an equity line of credit on a house my family owns in California. I can borrow enough money to pay for the whole cost of land and a home, but it has to be paid back right away, as this is sort of an insurance policy for my grandfather. Is there a waiting period before I can refinance, or can I do it immediately? Timing's a tricky issue here, because I can't make multiple house payments at the same time for more than a few months. Does anyone have an idea of the average cost of home construction? I understand that having a new home built is considerably cheaper than buying an existing one, but is there a general cost per square foot/meter I could use as a rough guideline? Also, is there much difference in cost between western style homes and traditional Thai homes? I really prefer the Thai style architecture, although I know in the northeast it is not as ornate. Edited May 1, 2005 by stevemarkwell Link to comment Share on other sites More sharing options...
udon Posted May 3, 2005 Share Posted May 3, 2005 (edited) Steve, this link might help. Also check out the home page. *** There is another website run by an expat builder as well, but I don't have the URL ...... maybe someone else has it. It has good info about costs. Edited May 3, 2005 by udon Link to comment Share on other sites More sharing options...
stevemarkwell Posted May 3, 2005 Share Posted May 3, 2005 Cool, thanks. I found a site that is supposed to estimate the cost of building your home, but I input all the info and then it doesn't work. I'll root around here a bit and see what I can find. Link to comment Share on other sites More sharing options...
a1hub Posted August 10, 2007 Share Posted August 10, 2007 all question on here may get good answer, I am Thai local builder, english husband from manchester, if you guy intereste to sort out house mortgage in Thailand, house builder with honest and quality in Pattaya and over Thailand area, email me or my husband you might get answer or assistant. I could help you or your wife to get mortgage in thailand with many security option for farang who want to own a bangalow or house in Thailand. Only you need to know honest local people who not bull to you, as not always that only you farang honest to farang. Email to get answer you need at [email protected], only who need assistant only please Link to comment Share on other sites More sharing options...
N47HAN Posted August 11, 2007 Share Posted August 11, 2007 As of yesterday ( friday 10th august ) This is the responce from SCB in Phuket. My company can have a mortgage of up to 25 million based on 9 mnths buisiness accounts . This would be set at a maximum of 70% of the cost of the property chosen. If the property was brought in my wifes name the max Thb applies , but , must increase her salary to 250,000 Thb a month ! and have 3 mnths statements to that effect , they would then increase the % to 95. No hassles at all , accountant gave us all the required company documents,gave them Scb and it took 3 days for their answer. Now I wonder if i'm gonna pay the mrs 250,000 a month ! Link to comment Share on other sites More sharing options...
N47HAN Posted August 11, 2007 Share Posted August 11, 2007 all question on here may get good answer, I am Thai local builder, english husband from manchester, if you guy intereste to sort out house mortgage in Thailand, house builder with honest and quality in Pattaya and over Thailand area, email me or my husband you might get answer or assistant. I could help you or your wife to get mortgage in thailand with many security option for farang who want to own a bangalow or house in Thailand. Only you need to know honest local people who not bull to you, as not always that only you farang honest to farang. Email to get answer you need at [email protected], only who need assistant only please Reads to me as if this builder is a woman ? Link to comment Share on other sites More sharing options...
a1hub Posted August 11, 2007 Share Posted August 11, 2007 all question on here may get good answer, I am Thai local builder, english husband from manchester, if you guy intereste to sort out house mortgage in Thailand, house builder with honest and quality in Pattaya and over Thailand area, email me or my husband you might get answer or assistant. I could help you or your wife to get mortgage in thailand with many security option for farang who want to own a bangalow or house in Thailand. Only you need to know honest local people who not bull to you, as not always that only you farang honest to farang. Email to get answer you need at [email protected], only who need assistant only please Reads to me as if this builder is a woman ? N47HAN I am a woman yes ! Link to comment Share on other sites More sharing options...
skycop51 Posted November 15, 2007 Share Posted November 15, 2007 I have begged her not to buy but she wants to out side of bankgkok, we have some cash and a good retirement. Both US citizens she is also Thai. What is our chance of getting a loan. We are coming over this next summer. Thank you...Bill If your wife has a job and can qualify on her own, no problem. Sometimes a falang guarantee helps.Large deposits at the lender bank is persuasive. I There are so many variables involved, ie. length of mortgage, debt ratio, percentage of loan to value in addition to the credit worthiness of the borrowers, that I guess is that you just need for her to shop around and apply. Link to comment Share on other sites More sharing options...
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