Local Mortgage For Foreigners Without Work Permit But Married To A Thai

[Metalgear]

I am married to a Thai and was wondering how I can get a home loan from Bangkok Bank without a work permit ? My spouse is unemployed.

[choppychugger]

You can act as garuntor for her - Can you supply work contract, bank statements for the last 6 mths ?

[keeniau96]

My bro-in-law got such mortgage from Krung Thai bank about 6 years ago, and refinanced it several times. He works in offshore oil industry, month aboard ship, month in Thailand. Has very well paying job with much proof of income, which I think was the big persuader for KT bank.

[Metalgear]

You can act as garuntor for her - Can you supply work contract, bank statements for the last 6 mths ?

Yes I can. Any ideas which bank would accept these and if this is adequate to even be considered for processing ?

[choppychugger]

I went along with SCB - and got 5.5 million towards our house.

No w.permit/not married/and partner doesnt work - we have a son together.

This was about a year ago before the global crisis.

Choppy

[rgw]

I went along with SCB - and got 5.5 million towards our house.

No w.permit/not married/and partner doesnt work - we have a son together.

This was about a year ago before the global crisis.

Choppy

Similar here, but then with UOB and with Work Permit, although that didn't really matter.

[ralfbkk]

Not sure if Bangkok Bank is the right bank for these kinda loans. Many of them do not pass. SCB is the best place these days.

[Metalgear]

I went along with SCB - and got 5.5 million towards our house.

No w.permit/not married/and partner doesnt work - we have a son together.

This was about a year ago before the global crisis.

Choppy

Is your home loan an international home loan? What is the interest rate that they charge you and what is your term and margin of finance? Thank you for your help. I may approach SCB and find out. Do you still remember which bank officer you spoke to ?

[torrenova]

There has to be some information missing here as a foreigner cannot even own land so no-one is going to lend them money are they ? Buying a condo ? sure, buying a house in the missus' name then ok, but buying a house in the foreigner's name with a limited company to fudge the legality of ownership ? not sure. More information needed.

[choppychugger]

I went along with SCB - and got 5.5 million towards our house.

No w.permit/not married/and partner doesnt work - we have a son together.

This was about a year ago before the global crisis.

Choppy

Is your home loan an international home loan? What is the interest rate that they charge you and what is your term and margin of finance? Thank you for your help. I may approach SCB and find out. Do you still remember which bank officer you spoke to ?

It's not an international mortgage, nor is it tied in with any other equity. It was locked in @ 4% for the first year, it's around 6% at the momment. The house was brand new and generously valued from the bank, we obtained 50% of the selling price from SCB. The minimum monthly payback is 52,000 thb, and I think it's set around 14 years.

We put about a million of our own money into it, but had to top it up with a 1.5 million standard loan from TMB bank of which the seller ( who we knew ) acted as garuntor - That is paid back at 50,000thb a month and has about 2 years to run.

Where in Thailand are you ? as you would be dealing with your local branch and then head office in Bangkok.

I'm away from home at the momment, but have the bank officers details at home somewhere.

hope this helps

Choppy

edit for above post: House is in my partners name.

Edited December 3, 2009 by choppychugger

[Metalgear]

I went along with SCB - and got 5.5 million towards our house.

No w.permit/not married/and partner doesnt work - we have a son together.

This was about a year ago before the global crisis.

Choppy

Is your home loan an international home loan? What is the interest rate that they charge you and what is your term and margin of finance? Thank you for your help. I may approach SCB and find out. Do you still remember which bank officer you spoke to ?

It's not an international mortgage, nor is it tied in with any other equity. It was locked in @ 4% for the first year, it's around 6% at the momment. The house was brand new and generously valued from the bank, we obtained 50% of the selling price from SCB. The minimum monthly payback is 52,000 thb, and I think it's set around 14 years.

We put about a million of our own money into it, but had to top it up with a 1.5 million standard loan from TMB bank of which the seller ( who we knew ) acted as garuntor - That is paid back at 50,000thb a month and has about 2 years to run.

Where in Thailand are you ? as you would be dealing with your local branch and then head office in Bangkok.

I'm away from home at the momment, but have the bank officers details at home somewhere.

hope this helps

Choppy

edit for above post: House is in my partners name.

Thanks for the reply. I am living in Sathorn Bangkok and am considering buying a house under my wife's name. Its a home I want her and my son to have, since I already have a condo back in my home country.

[aussiebebe]

Hi everyone, I read this thread because I had similar questions to the OP.

So, SCB and UOB have been recommended - what percentage of the house's price can be loaned from a bank? I understand 'Chopperchugger' obtained 50% - is that maximum or does it all depend?

appreciate any advice, thanks

[choppychugger]

Hi everyone, I read this thread because I had similar questions to the OP.

So, SCB and UOB have been recommended - what percentage of the house's price can be loaned from a bank? I understand 'Chopperchugger' obtained 50% - is that maximum or does it all depend?

appreciate any advice, thanks

I could be wrong but from what I beleive 50 % is the max for someone in my position - If you have a work permit I beleive it can go as high as 75%.

Choppy

[stgrhe]

Hi everyone, I read this thread because I had similar questions to the OP.

So, SCB and UOB have been recommended - what percentage of the house's price can be loaned from a bank? I understand 'Chopperchugger' obtained 50% - is that maximum or does it all depend?

appreciate any advice, thanks

Kasikorn Bank have a reputation of being rather friendly to foreigners too. Bangkok Bank generally seem to be a bit tougher but when I approached them (Khon Kaen branch) about five years I was told that we would not have any problem of obtaining a house loan for my wife with me as a guarantor based on the forthcoming pensions (I wasn't retired then). They even told us that they would be happy to finance the house even if it was located in another province, so i suppose it is very much up to the local branch so it may pay of to shop around.

[stromasher24]

Hi,

Around 7/8 years ago I managed to get a 75% mortgage from the Kasikorn for a property in Hua Hin without a WP (was working outside Thailand at the time), if I recall it didnt take much doing.

2 months ago the Mrs and myself got a 55% mortgage from SCB for a townhouse in Bkk (in her name, so guarenteer only) seemed to take a lot of paperwork and thats with a valid Work Permit and job here.

SCB said that as I took an overseas contract on last year, my employer cancelled my Work permit (for 3 months) so I had broken my continual WP for the last 2 years (never knew this was an issue at the bank?).

Because of this they had to carry out more checks (even though I had since rejoined my previous employer), another lad at our company has just got himself a 75% mortgage, his WP is unbroken for a couple of years, so it is possible in the right circumstances.

Lass at the bank said that they had been told they need to be tighter on expats now to ensure we dont walk away from the loan.

I needed to show them my 'Taabien Baan' book, local tax returns for the last couple years, Work Permit book, my employers registration and employment contract and my overseas accounts.

My Mrs had to show them much the same from her company.

I think without some of the above documents, it may be difficult get a mortgage here just now but if you can show them a good case and your finances back you up then you are in with a chance.

No harm in asking!