Home Loan In Thailand

[chris11]

Hello

My wife and me we want to buy a house and want to check now which Bank is easiest to get a loan.

I work with Work permit( for about 5 Years) my wife stay at home, no childs.

Maybe someone can tell which Bank to use and how much % are possible?

Thanks Chris

[Phil Conners]

Money Expo 2010 is this weekend in Royal Cliff in Pattaya. According to news paper articles they will have some very good conditions there for house loans, though I don't know if it is Thai's only or farangs can benefit too.

[richardt1808]

hi,

As a foreigner, you are not elegible for financing a home in Thailand.

If your wife is Thai, you may be able to apply jointly for a loan provided that both you and your wife have a good credit history at the same bank. I have heard of successful loans being granted to couples who meet credit requirements from Kasikorn, Bangkok Bank and SCB lately and they all give basically the same deal in terms of interest. However, if as you say, she is not working, then she wont have any credit-worthiness and you dont have much hope of getting a loan.

The land itself would obviously have to be registered in a Thai person's name.

[LennyW]

Another thread on the same subject running here http://www.thaivisa.com/forum/Home-Loan-Qu...ce-t335311.html maybe some answers there for you.

[chris11]

Hello

Thanks for the answers

I read this allready, but not get the answers what i am search for.

I will not apply for this Loan, only my wife i am only the guarantor. We ask UOB(send our documents to Headquarter) and SCB(Show our documents at branch) all ready and they say no problem.(But who beliefs)  But my Question is, Who has similar case and get a loan and from which bank and how much %

Thanks Chris

Another thread on the same subject running here http://www.thaivisa.com/forum/Home-Loan-Qu...ce-t335311.html maybe some answers there for you.

[richardt1808]

Hello

Thanks for the answers

I read this allready, but not get the answers what i am search for.

I will not apply for this Loan, only my wife i am only the guarantor. We ask UOB(send our documents to Headquarter) and SCB(Show our documents at branch) all ready and they say no problem.(But who beliefs)  But my Question is, Who has similar case and get a loan and from which bank and how much %

Thanks Chris

Hi,

Our rate at Kasikorn is their MLR - 1%. Currently their NLR is 5.85% I think, so our effective rate is 4.85. All the big banks are offering MLR - 1 to -1.5%.

Cheers

[Benjie]

I didn't think a Foreign husband could be guarantor. Unless you only need like 50% or something I'd assume they would expect your wife who's name the mortgage will be in to have some money or be earning.

[mark5335]

Hello

Thanks for the answers

I read this allready, but not get the answers what i am search for.

I will not apply for this Loan, only my wife i am only the guarantor. We ask UOB(send our documents to Headquarter) and SCB(Show our documents at branch) all ready and they say no problem.(But who beliefs) But my Question is, Who has similar case and get a loan and from which bank and how much %

Thanks Chris

Another thread on the same subject running here http://www.thaivisa.com/forum/Home-Loan-Qu...ce-t335311.html maybe some answers there for you.

Chris,

My case is similar to yours...wife not working, I have WP. We purchased 2 Bangkok condo's last year in my wife's name, both were partially financed by domestic mortgages. We got a mortgage for 80% of purchase price from StanChart repayble over 15 years, and 70% of purchase price from Bangkok Bank repayable over 10 years. The first year teazer interest rate was attractive from both banks. After the first year the rate will be MLR-1%.

I guaranteed both loans. I only had my WP for less than 2 years, although the policy for both banks is usually a minimum 3 years WP. However, there was no problem with the approval. Both my wife and I have excellent credit records with the National Credit Bureau which helped with the approval.

Regards, Mark

[chris11]

Hello

Thanks for answer

Our Credit history is no problem, also we have 50% of the purchase price in cash, but we would prefer to get at least 70% that we have same money in Hand.

Just today my wife get a call from SCB to send same additional paper. so i hope the best.

Chris 

Hello

Thanks for the answers

I read this allready, but not get the answers what i am search for.

I will not apply for this Loan, only my wife i am only the guarantor. We ask UOB(send our documents to Headquarter) and SCB(Show our documents at branch) all ready and they say no problem.(But who beliefs) But my Question is, Who has similar case and get a loan and from which bank and how much %

Thanks Chris

Another thread on the same subject running here http://www.thaivisa.com/forum/Home-Loan-Qu...ce-t335311.html maybe some answers there for you.

Chris,

My case is similar to yours...wife not working, I have WP. We purchased 2 Bangkok condo's last year in my wife's name, both were partially financed by domestic mortgages. We got a mortgage for 80% of purchase price from StanChart repayble over 15 years, and 70% of purchase price from Bangkok Bank repayable over 10 years. The first year teazer interest rate was attractive from both banks. After the first year the rate will be MLR-1%.

I guaranteed both loans. I only had my WP for less than 2 years, although the policy for both banks is usually a minimum 3 years WP. However, there was no problem with the approval. Both my wife and I have excellent credit records with the National Credit Bureau which helped with the approval.

Regards, Mark

[spacemand]

chris11

Please keep us updated as we are in the same situation and had a meeting at Kasikorn today. They made it sound like it were not a problem getting 80% financed my wife is a student so no income but I have to see it to believe it.

This is a fairly small amount nothing close to Bangkok prices.

[chris11]

Hello

My wife speak with Kasikorn too, but the told us on the phone that the dont give a loan in our case because i dont have Permanent Reisidence, and this was told from a guy from the headquater. Now i read 2 times allready that it should be possible to get a loan from Kasikorn, but us the told its impossible. Also i have my salery account at Kasikorn.

And i also dont want to buy in Bangkok and the price is only 2.5MB

Chris

chris11

Please keep us updated as we are in the same situation and had a meeting at Kasikorn today. They made it sound like it were not a problem getting 80% financed my wife is a student so no income but I have to see it to believe it.

This is a fairly small amount nothing close to Bangkok prices.

[chris11]

Hello

Please can you tell me your wife work or not and how much % you get?

Chris

Hello

Thanks for the answers

I read this allready, but not get the answers what i am search for.

I will not apply for this Loan, only my wife i am only the guarantor. We ask UOB(send our documents to Headquarter) and SCB(Show our documents at branch) all ready and they say no problem.(But who beliefs) But my Question is, Who has similar case and get a loan and from which bank and how much %

Thanks Chris

Hi,

Our rate at Kasikorn is their MLR - 1%. Currently their NLR is 5.85% I think, so our effective rate is 4.85. All the big banks are offering MLR - 1 to -1.5%.

Cheers

[ExpatJ]

Yes, foreigners can get home loans through HSBC Thailand; but you need to be a HSBC 'Premier member'

[mark5335]

Yes, foreigners can get home loans through HSBC Thailand; but you need to be a HSBC 'Premier member'

...however, the maximum term is only 7 years, and the loan is denominated in foreign currency.

[chris11]

Hello

I will not take the loan my wife will do it. I am only the guarantor

Chris 

Yes, foreigners can get home loans through HSBC Thailand; but you need to be a HSBC 'Premier member'

[quiksilva]

We went with UOB, I was the guarantor but the loan was in my wife's name. She works at an international firm, so she was able to get 95% over 25 years, whilst the interest rate at UOB was a little higher, as soon as they found out my wife was married to a foreigner almost all other banks refused to lend more than 70%.

That was three years ago, so things may have changed and I am not up to date on their current policies.

[KhaoNiaw]

We went UOB a couple of years ago too, with me as guarantor. My wife wasn't working but has a good credit record from our previous home and car financing and we still got 95%.

[SGhawker]

Probably a loose ball but... I live/work in Singapore and do not have a Thai wife (it seems all other posters are in better situation). Is it possible to get a home loan for property in Phuket if I am not Thai resident?

I called Bangkok Bank branch in Singapore (I heard they used to give Thai mortgage to Singaporeans) but they said they stopped this deal about 2 years ago.

Any other legitimate options for a home loan? We are looking at 10mln property and can put 20% deposit.

[quiksilva]

You might want to try Hamptons International Mortgages Thailand... its not quite a loan however, but might be worth looking into..

Ps never used it myself so can not vouch for it..

Edited February 9, 2010 by quiksilva

[clinique]

Probably a loose ball but... I live/work in Singapore and do not have a Thai wife (it seems all other posters are in better situation). Is it possible to get a home loan for property in Phuket if I am not Thai resident?

I called Bangkok Bank branch in Singapore (I heard they used to give Thai mortgage to Singaporeans) but they said they stopped this deal about 2 years ago.

Any other legitimate options for a home loan? We are looking at 10mln property and can put 20% deposit.

try these guys, they do loans all over , they helped us..

secondhomechiangmai.com

[manjara]

My wife was not working, though she had been working at Amway prior to us living together.

The loan we got was about 60% over 10 years from Thai Military bank. They had no problem as long as we were married and I could show proof of income. At the time I was on a business visa for 6 months, and had been in Thailand for almost 2 years. That was 5 years ago now.

We subsequently bought another property through them, but this time with no loan, and now they phone us regularly asking if we want to borrow more money for property. They have offered up to 90% of value. We have not taken them up on it, yet.

[Soutpeel]

We went UOB a couple of years ago too, with me as guarantor. My wife wasn't working but has a good credit record from our previous home and car financing and we still got 95%.

Went to SCB a few years ago with the GF at the time (now the wife) and not working and got 100% with me as guarantor. copy of WP, Letter from company, pay slips for 12 months etc, rather a painless process for me, only had to go to the bank once to sign off on the paperwork once it was approved, 15 minute process.

[Phil Conners]

Where I come from you usually go to the bank first to find out how much you can borrow. Only then, when you know your budget, do you go home shopping. Seems to me it's the other way around here, you first have to find a home, then with all the details for that you go to the bank and see if you can get a loan for it. Is it always like that here?

[quiksilva]

We went UOB a couple of years ago too, with me as guarantor. My wife wasn't working but has a good credit record from our previous home and car financing and we still got 95%.

Went to SCB a few years ago with the GF at the time (now the wife) and not working and got 100% with me as guarantor. copy of WP, Letter from company, pay slips for 12 months etc, rather a painless process for me, only had to go to the bank once to sign off on the paperwork once it was approved, 15 minute process.

Does SCB in this case = Siam Commercial bank or Standard Chartered Bank?

[Thpluppen]

Just bought a new house in Nonthaburi, with a loan in my wife's name and with me as guarantor, using UOB. Have work permit and good credit in TH since 2004 but haven't got around sorting my residency yet. House price was THB 10,2 Mil, but the bank sent out an evaluator to see the house, that said it was only worth THB 9,99 Mil. So the property company dropped their price (Thank you Mr. Bank man ) and we got a loan based onto 80% of that. Finally we actually negotiated a second drop in price of another THB 500,000 and 4 additional AC's to be included on top, due to my drivers sister obviously knew the manager of the property company, so got it at 9,5 Mil and 80% loan based on 9,99 Mil. Loan based on 17 years, myself being 43 and they wanted my loan to be paid in full by the time I reached 60. Got the loan under the condition that I signed on for a special insurance with UOB, which would settle the loan in full, in case of me dropping off prematurely. Lots of paper hassle though.......Bank statement from my personal bank (Kasikorn) for last 12 months, company letter both from my local office and from my International HQ, copy of WP, marrige certificate, bank-statement from foreign bank showing that I could come up with the remaining 20%, copy of my diplomas and God know what else they could come up with and request ....Everything that was not in Thai, had to be translated, legalized and so on, but finally we got it.

[cyfanaz]

this is not correct. There are banks that have foreignor loan program. HSBC has a program as well as citibank. IF you want to email me directly I will forward the information to you. Rob [email protected]

hi,

As a foreigner, you are not elegible for financing a home in Thailand.

If your wife is Thai, you may be able to apply jointly for a loan provided that both you and your wife have a good credit history at the same bank. I have heard of successful loans being granted to couples who meet credit requirements from Kasikorn, Bangkok Bank and SCB lately and they all give basically the same deal in terms of interest. However, if as you say, she is not working, then she wont have any credit-worthiness and you dont have much hope of getting a loan.

The land itself would obviously have to be registered in a Thai person's name.

[CWMcMurray]

We were able to get 90% from Siam City Bank... under wifes name with me co-signing

[chris11]

Hello

Just a short update. We will submit our documents start of the next month to SCB and UOB and then we will see what happend. I will inform about the progress here.

Chris

[chris11]

Hello

Here an update again.

Yesterday we get the OK from UOB. So we will transfer the house on Monday. The house still not finished but to save the tax we will transfer it before.

Here same Details.

House ca 2.4MB Loan 70% over 18 Years(Upcountry)

Standart UOB promotion like showed on the website

I work my wife stay at home.

Chris

[sinam]

If you work and pay tax to the thai gov't then I would go for a co-loan with your wife rather than be a guarantor. With a co-loan you will be eligible to claim part of the interest paid and get some of your taxes back.