Length Of Mortgage

[ChrisP]

Hi..

Buying property...

I came across the Bangkok Bank's Mortgage offer thru its Singapore Branch for Non-Residents - BUT it's only for a 10 yr loan (at 70% of the value).

Anyone know of a 20yr Mortgage for non-Residents..?

Cheers

ChrisP

[The_Moog]

This is a quote from an e mail I received today from Holt Realty, a Thai visa sponsor.

(Doesn't answer your exact question, but it would be safe to assume the loan tenor would be longer if you are resident here, I can find out if you like).

I don't like the BBL offshore mortgage deal in general.

If you live and work in Thailand, with a valid visa and work permit,

they will give you up to 75% financing on a second hand property. If you

want to buy a new property they may go up to 90% or higher, depending

on how many of the conditions you can fulfil. You need to have enough

money in the bank to show that you are a good credit risk. You need to

have a good credit rating; in other words you have bought and paid for

something on credit, or you have a credit card with a Thai bank.

If you do not live and work in Thailand, the most the banks we deal

with will consider lending now is 50% of the purchase price. You must also

bring in a certain amount of money and deposit with the lending bank.

The bank will tell you how much they require. Most important of all, you

must have a Thai guarantor in each case.

[ChrisP]

Thanks Moog...

Could you find out for me..?

Why don't you like the BBL Offshore deal..? They DO cover 70% for non-residents... (not 50%)

It's just not a long-enough term..

ChrisP

[trajan]

HSBC only gave me a 10 year loan.....longer terms dont seem to be available for foreigners....but if anyone knows please post....thanks!

[TheAceFace]

Hi all

I got an 80% loan over 30 years on the property Im buying, I will confirm with the missus which bank it was with, the housing developer arranged everything.

[jingjingna]

TheAceFace,

Is the mortgage in your name or your wife's?

[TheAceFace]

TheAceFace,

Is the mortgage in your name or your wife's?

<{POST_SNAPBACK}>

All the documents and statements were in my name and from my bank account my wife never shown her statement, however the house is in my wifes name. They offered through the developer 70% at first, but I could not find the other 30% down payment, so I went to the developer and they went back to the bank and negotiated to 80% on which they would not budge any more.

[ChrisP]

^ AceFace

Which Bank was it..?

ChrisP

[The_Moog]

Do you have a Bangkok Bank account. I asked them today and said are there is any flexibility for someone living here but without a work permit, and the guy said that yes there was.

If the Singapore deal is 70%, then thats a reasonable loan to value ratio. What is the lending rate, and is it Baht denominated ?- I can't find my papers about it. I looked today and its buried beneath all the mess in the toilet.

[TheAceFace]

^ AceFace

Which Bank was it..?

ChrisP

<{POST_SNAPBACK}>

I will check with the developer on my way back from work, I will post it tonight. I do know it was not the Bangkok Bank.

TAF

[ilyushin]

Your age applies also. Young couple can get 30-35 yrs and it reduces thereafter.

[TheAceFace]

^ AceFace

Which Bank was it..?

ChrisP

<{POST_SNAPBACK}>

Chris the bank is Siam Commercial Bank, good luck.