Looking for a financial institution willing to loan 1 to 1.5M THB. As guarantee we have Chanote for Condo in BKK area worth 5M and Chanote for Land worth 3M.

I am living in Bangkok, but self employed outside Thailand. Wife is Thai employee.

Where to go for this kind of business? We're getting zillions of junk mail/calls about credit facilities of all sorts, but these all seem geared towards Thais with Thai earned salaries.

thanks for your advice

Try the banks, particularly the one where you have your normal account. Bank of Ayudhya worked for us a few years ago.

I might add that I work & live outside Thailand, my Thai wife lives with me, and the loan is in joint names.

Hope this helps

Mike

Edited July 31, 201114 yr by sandmike

My experience is any bank would jump at the opportunity to loan you 1.5 million on 8 million of real collateral. Your wife would get the loan with your offshore income acting as a rationalization for giving the loan.

SCIB did something very similar for us. As long as the bank feels there is little risk, they'll bend over backwards to take your money.

Not unless you have a Thai wife, at least that was my experience a few years ago looking to raise 1.5mill short term (6 months) with chanote for land & house app value 10million.

The banks did not want to know, other countries I have been in the banks jump at the chance to get secured loans,it's very good business. But there you go. TIT

Have tried SCIB today; since Wife has a car loan ongoing (11000 THB/month) she is not entitled to borrow more till that is repaid.

My foreign income is - understandably - of no importance to them but also, less understandable, the guarantees we can provide them also do nothing to them.

They want my in-laws (daddies government salary) involved in the deal, which i want to avoid.

1 down!

One bank asked me to deposit in their bank the amount of cash I wanted to borrow - go figure !