Equity Loan

[zorro1]

Anybody had an equity loan against their condo?

lets assume 50% for a foreigner (100% paid for) on a tourist visa.

I think banks will do whatever they want, for example siam bank said no to a me opening a new account. A quite chi chat with the manager about the amount of $$$ coming in for a condo purchase = no ploblem sir ,account opened on tourist visa in 30 mins.

[ericthai]

You might be able to, but I don't think 50%, maybe 20% or 30%, depends on the location the value etc and if the bank feels if you fail on the loan they will have a good asset, so it's hard to say what the bank will think. From my experience I';m thinking it's going to be no.

Getting a bank account open with a T visa or no visa can be done. My first account I opened here I had no visa only was here on visa exempt. So getting an account open means nothing.

[zorro1]

You might be able to, but I don't think 50%, maybe 20% or 30%, depends on the location the value etc and if the bank feels if you fail on the loan they will have a good asset, so it's hard to say what the bank will think. From my experience I';m thinking it's going to be no.

Getting a bank account open with a T visa or no visa can be done. My first account I opened here I had no visa only was here on visa exempt. So getting an account open means nothing.

thanks for your reply eric. its against the law to open an account without a work permit.

The last condo to sell in my complex was over a million bht more than I paid 4 years ago.

How can the bank go wrong/ you give them the deeds they give you say 30-40%

I believe it can be done if shopped. Im just weighing up options on a new purchase.

[clinique]

zorro. sorry to dissappoint you but Thai banks are not permitted to lend to foreigners by law.

[WarpSpeed]

You might be able to, but I don't think 50%, maybe 20% or 30%, depends on the location the value etc and if the bank feels if you fail on the loan they will have a good asset, so it's hard to say what the bank will think. From my experience I';m thinking it's going to be no.

Getting a bank account open with a T visa or no visa can be done. My first account I opened here I had no visa only was here on visa exempt. So getting an account open means nothing.

thanks for your reply eric. its against the law to open an account without a work permit.

new purchase.

Since when? Do you have a link for this??

[zorro1]

You might be able to, but I don't think 50%, maybe 20% or 30%, depends on the location the value etc and if the bank feels if you fail on the loan they will have a good asset, so it's hard to say what the bank will think. From my experience I';m thinking it's going to be no.

Getting a bank account open with a T visa or no visa can be done. My first account I opened here I had no visa only was here on visa exempt. So getting an account open means nothing.

thanks for your reply eric. its against the law to open an account without a work permit.

new purchase.

Since when? Do you have a link for this??

sorry that came out wrong of course they wont throw you on jail. I meant against company regulations