Buying A House

[julie_f]

Hi

Could someone advise please. We are a farang couple that would like to buy a house here. We have approx 10% deposit and would like to get a mortgage.

Obviously we can't go down the thai gf/bf road so could you give more info about the company. A relative is married to a thai but she already has their house in her name. Is it possible for it to be in her name?

Many thanks,

J

[Thaipwriter]

Hi

Could someone advise please. We are a farang couple that would like to buy a house here.  We have approx 10% deposit and would like to get a mortgage. 

Obviously we can't go down the thai gf/bf road so could you give more info about the company.  A relative is married to a thai but she already has their house in her name. Is it possible for it to be in her name? 

Many thanks,

J

How much cash is 10%?

Where are you looking to purchase?

does your relative who is married already have a mortgage in his wife name?

please advise above and then i can help!

[Dragonman]

Hi

Could someone advise please. We are a farang couple that would like to buy a house here.  We have approx 10% deposit and would like to get a mortgage. 

Obviously we can't go down the thai gf/bf road so could you give more info about the company.  A relative is married to a thai but she already has their house in her name. Is it possible for it to be in her name? 

Many thanks,

J

<{POST_SNAPBACK}>

Most thai banks require a 20% deposit even for thais( there are some exceptions for government employees).Look for details in Bangkok Post. There has been mention in the press about Bangkok Bank in Singapore offering mortgages to foreigners, presumably for condo purchase. My wife's thai and the property is in her name, but the bank would only give a 70% mortgage.

Would not advise the wife of a relative route as there are enough sob stories on here from ex husbands saying bye bye home

[Sumitr Man]

Setting aside all of the other issues regarding using the company route (e.g. getting Thai shareholders to come on board, etc.) - why would a Thai bank want to lend to a company that has no previous accounting history?

If you are looking to buy a condo, you may be able to get a personal loan from HSBC or another foreign bank.

SM

[Digger]

Hi

Could someone advise please. We are a farang couple that would like to buy a house here.  We have approx 10% deposit and would like to get a mortgage. 

Obviously we can't go down the thai gf/bf road so could you give more info about the company.  A relative is married to a thai but she already has their house in her name. Is it possible for it to be in her name? 

Many thanks,

J

<{POST_SNAPBACK}>

Very unlikely to get a mortgage with such a low down payment + an important consideration is that bank valuations take NO account of any extras in the house that can be stripped out in the event of a repo. i.e kitchen, aircon, curtains etc - therefore basically all they are valuing is the land, the sq m of the property and if it has a pool which they will take into account. Very often, bank valuations using this method fall way short of what you are actually paying. They do lend to companies owning property but its based on the financial situation of the company directors - basically if they think you can afford the repayments at least 2-3 times over, they will likely lend you the money but its rare for them to give more than 50% of their valuation to a foreigner. Basically they want to see more of your money tied up in the property before they will lend you some of their cash. They are very cynical of foreigners in so far as what is ties you have to stay in Thailand. Therefore a farang married to a Thai is often in a better position than someone who has no ties to the country other than "its a nice place to live". Also they do not like speculators using their money so do not say, "well I want to buy this place and sell it in a few years and make bucket loads of cash"

[julie_f]

Thaipwriter,

Its not that expensive and we have 10% of the asking price, private sale.

Ram intra area.

She doesn't have a mortgage. His house is in her name though

Thanks

[Khun Larry]

Buying a house in Thailand is ALWAYS a bad idea for a Farang or Farang couple.