Borrowing Money On A 30 Year Lease Agreement

[cangetman]

hello everyone hope all is well

I have a question is it possible to borrow money from a Thai Bank for the remaining term of the lease agreement by a Foreigner .

basically i have a 30 year lease with my ex girl friend ( the house and land are under her name ) silly me any way there is 27 years left on the lease agreemnt will the bank lend me money for the remaining term of the lease.

I have the chanot - the lease agreemnt in thai and english all in my possesion all originals .

what i dont have is the BLUE book i think they call this the tai ban ( those in the know will know what i am talking about )

look forwared to hearing back from all.

[rodentwarrior]

If the land and house are in her name - you have no chance!

[caf]

As rodent says, it's unlikely

But if she agreed to the mortgage with the bank then yes it is posible as the bank would have the house and land as security for as long as they held the chanote ( 30 years is then not relevant ).

caf

[gotlost]

More luck on getting milk from a tit on a boar.

[Sisaketmike]

If the land and house are in her name - you have no chance!

Why buying a cow, when you only want to have some milk?

[cangetman]

If the land and house are in her name - you have no chance!

Why buying a cow, when you only want to have some milk?

fair comment

[quiksilva]

Very few banks will lend on a 30 year lease, and of those very few that do, they tend to be for leases from the CPB.

[torrenova]

You own nothing, merely the right to live in a property you bought for an ex girlfriend. There is no security for the bank. She could get a mortgage but the problem there would be the sitting tenant. If the bank wished to repossess the property under a first charge, then the issue of your lease would be relevant. I actually think the only way for her to raise money will be to have you cancel the lease. There remains the potential that a smaller advance could be obtained by her with you as a tenant.

[stgrhe]

You own nothing, merely the right to live in a property you bought for an ex girlfriend. There is no security for the bank. She could get a mortgage but the problem there would be the sitting tenant. If the bank wished to repossess the property under a first charge, then the issue of your lease would be relevant. I actually think the only way for her to raise money will be to have you cancel the lease. There remains the potential that a smaller advance could be obtained by her with you as a tenant.

Agreed, from the Bank's perspective a leased land has a much lower resale value than the same land without any encumbrance.