RioMist Posted April 18, 2010 Share Posted April 18, 2010 I bought my home in Thailand in 2003 and I would now like to make some improvements, new bathroom, etc etc. My house is fully paid for and in my company name. Is there any Thai bank who specialize in 2nd mortgages? My house is worth 3-4 million baht and would like a second mortgage I estimate of 350000 baht. Any suggestions would be welcome. Link to comment Share on other sites More sharing options...
Soutpeel Posted April 18, 2010 Share Posted April 18, 2010 You/your Mrs could approach just about any bank, you have collateral, you will not get the Mortgage in your name however... Link to comment Share on other sites More sharing options...
RioMist Posted April 18, 2010 Author Share Posted April 18, 2010 You/your Mrs could approach just about any bank, you have collateral, you will not get the Mortgage in your name however... Oh I have a problem there... My wife is not Thai. My wife is Filipino... but the house is registered in my companies name.. not my own name. Thanks anyway... Link to comment Share on other sites More sharing options...
lannarebirth Posted April 18, 2010 Share Posted April 18, 2010 (edited) If there is no underlying debt instrument or encumbrence, wouldn't you be applying for "1st" mortgage? Edited April 18, 2010 by lannarebirth Link to comment Share on other sites More sharing options...
flying Posted April 18, 2010 Share Posted April 18, 2010 If there is no underlying debt instrument or encumbrence, wouldn't you be applying for "1st" mortgage? Yes he would actually be applying for a 1st. Do they have a home equity line of credit type of loan available in LOS? That would fit the bill best for loan type. But as for whether he can get it being a company held home I have no idea. Link to comment Share on other sites More sharing options...
clinique Posted April 18, 2010 Share Posted April 18, 2010 (edited) try bank of Ayyutha if you have no current mortgage they will give you 80% loan BUT a company borrowing is NOT considered a 'home loan' by Thai banks - it is a businesloan ie higher interest appx 8%pa and max term is 7-10 years. or try these guys - helped us;;; www.secondhomechiangmai.com Edited April 18, 2010 by clinique Link to comment Share on other sites More sharing options...
quiksilva Posted April 19, 2010 Share Posted April 19, 2010 Most Thai banks will provide personal loans (to Thai nationals) using the house as collateral but the interest rates are much higher than the published mortgage rates, and the repayment term tends to be shorter too. Link to comment Share on other sites More sharing options...
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