Need Answers About Gf Getting A Loan For A Home

[toffo9]

Can my gf get a agricultural or farmers loan to build a house on her land?? Can she also use the land as a deposit ?? she is not employed but ive been putting 80k baht in her bank for the last 3 months and using it everymonth to pay my bills and to socialise... Can i be a guarantor or does her family have to do it... Really appreciate any answers as ive not much knowledge on the mortgage industry here... Thanks in advance

[Jebhead]

My experience ;

My wife borrowed money to buy our house, i guaranteed her loan with a copy of my work contract ( not in thailand ) pay slips for 6 months and bank statements for 6 months. Other documents we showed were marriage cert / my passport and her ID card. This was with SCB.

We paid this off pretty quick and then also borrowed again with the same documents.

I have to say both times we had put up 50% so the bank was only lending us the other 50%

Hope this helps

JH

[toffo9]

My experience ;

My wife borrowed money to buy our house, i guaranteed her loan with a copy of my work contract ( not in thailand ) pay slips for 6 months and bank statements for 6 months. Other documents we showed were marriage cert / my passport and her ID card. This was with SCB.

We paid this off pretty quick and then also borrowed again with the same documents.

I have to say both times we had put up 50% so the bank was only lending us the other 50%

Hope this helps

JH

Thanks JH.. Im currently getting a pension of 105k baht everymonth so im hoping i can be guarantor and maybe put 10 or 20 percent deposit down

[Jebhead]

My experience ;

My wife borrowed money to buy our house, i guaranteed her loan with a copy of my work contract ( not in thailand ) pay slips for 6 months and bank statements for 6 months. Other documents we showed were marriage cert / my passport and her ID card. This was with SCB.

We paid this off pretty quick and then also borrowed again with the same documents.

I have to say both times we had put up 50% so the bank was only lending us the other 50%

Hope this helps

JH

Thanks JH.. Im currently getting a pension of 105k baht everymonth so im hoping i can be guarantor and maybe put 10 or 20 percent deposit down

I am by no means an expert but i think they may want to see a higher deposit, at the very least it would help the case.

There are many people on TV that will be able to give you a more definitive answer, i can only relate my situation.

Good luck

JH

[toffo9]

My experience ;

My wife borrowed money to buy our house, i guaranteed her loan with a copy of my work contract ( not in thailand ) pay slips for 6 months and bank statements for 6 months. Other documents we showed were marriage cert / my passport and her ID card. This was with SCB.

We paid this off pretty quick and then also borrowed again with the same documents.

I have to say both times we had put up 50% so the bank was only lending us the other 50%

Hope this helps

JH

Thanks JH.. Im currently getting a pension of 105k baht everymonth so im hoping i can be guarantor and maybe put 10 or 20 percent deposit down

I am by no means an expert but i think they may want to see a higher deposit, at the very least it would help the case.

There are many people on TV that will be able to give you a more definitive answer, i can only relate my situation.

Good luck

JH

Surely if i had nothing to do with it her being a thai national wouldnt have to put such a large deposit down...

[Jebhead]

My experience ;

My wife borrowed money to buy our house, i guaranteed her loan with a copy of my work contract ( not in thailand ) pay slips for 6 months and bank statements for 6 months. Other documents we showed were marriage cert / my passport and her ID card. This was with SCB.

We paid this off pretty quick and then also borrowed again with the same documents.

I have to say both times we had put up 50% so the bank was only lending us the other 50%

Hope this helps

JH

Thanks JH.. Im currently getting a pension of 105k baht everymonth so im hoping i can be guarantor and maybe put 10 or 20 percent deposit down

I am by no means an expert but i think they may want to see a higher deposit, at the very least it would help the case.

There are many people on TV that will be able to give you a more definitive answer, i can only relate my situation.

Good luck

JH

Surely if i had nothing to do with it her being a thai national wouldnt have to put such a large deposit down...

Not sure about that? you may well be right, all the bank will be looking to do is protect their loan.

What's an agricultural / farmers loan? it may be a completely different kettle of fish than a standard mortgage, no idea?

JH

[TerryLH]

"Surely if i had nothing to do with it her being a thai national wouldnt have to put such a large deposit down..."

The bank wouldn't give her a loan just because she's Thai. She'd have to prove an income or some way to make good on the loan.

I think the smaller the down payment, the more they worry.

[toffo9]

"Surely if i had nothing to do with it her being a thai national wouldnt have to put such a large deposit down..."

The bank wouldn't give her a loan just because she's Thai. She'd have to prove an income or some way to make good on the loan.

I think the smaller the down payment, the more they worry.

ok Thanks for the input.... Will be only 1 million loan with 20 percent deposit... will have to see what the bank says when the time arises...

[katabeachbum]

"Surely if i had nothing to do with it her being a thai national wouldnt have to put such a large deposit down..."

The bank wouldn't give her a loan just because she's Thai. She'd have to prove an income or some way to make good on the loan.

I think the smaller the down payment, the more they worry.

ok Thanks for the input.... Will be only 1 million loan with 20 percent deposit... will have to see what the bank says when the time arises...

you should wait until 80k/month cash flow in her account has been for six months minimum.

20% down will not work if she does not have Thai creditrating/credithistory

[toffo9]

"Surely if i had nothing to do with it her being a thai national wouldnt have to put such a large deposit down..."

The bank wouldn't give her a loan just because she's Thai. She'd have to prove an income or some way to make good on the loan.

I think the smaller the down payment, the more they worry.

ok Thanks for the input.... Will be only 1 million loan with 20 percent deposit... will have to see what the bank says when the time arises...

you should wait until 80k/month cash flow in her account has been for six months minimum.

20% down will not work if she does not have Thai creditrating/credithistory

Yeah thats the idea.. Im hoping they see that in her account everymonth and maybe it will help her... Thanks

[JeffreyMcCollum]

This last week at SCB I helped my GF get a loan. I placed the money I need to show to immigration in a passbook account, They hold the book, except when immigration want to see it, and gave her a loan against it. I pay 2% interest, and it is for 7 years. A lenght I was happy with to be sure she would not take the home and run, If she can last 7 years with me she deserves the home

[hyperdimension]

Is it at all possible to have the loan only in the name of the girlfriend, and the property only in the name of the farang?

Edited November 27, 2011 by hyperdimension

[luckyluke]

^

[Soutpeel]

Is it at all possible to have the loan only in the name of the girlfriend, and the property only in the name of the farang?

The simple answer is Nope.

Edited November 28, 2011 by Soutpeel

[hyperdimension]

Is it at all possible to have the loan only in the name of the girlfriend, and the property only in the name of the farang?

The simple answer is Nope.

What if the girlfriend is willing to go ahead with such an arrangement?

[InterestedObserver]

Is it at all possible to have the loan only in the name of the girlfriend, and the property only in the name of the farang?

The simple answer is Nope.

What if the girlfriend is willing to go ahead with such an arrangement?

Even if it were possible, which it's not, what security (collateral) does the bank have if the boyfriend skips town?

[hyperdimension]

Is it at all possible to have the loan only in the name of the girlfriend, and the property only in the name of the farang?

The simple answer is Nope.

What if the girlfriend is willing to go ahead with such an arrangement?

Even if it were possible, which it's not, what security (collateral) does the bank have if the boyfriend skips town?

What if the girlfriend and her family have substantial assets and could act as guarantor?

Edited December 2, 2011 by hyperdimension

[Soutpeel]

What if the girlfriend and her family have substantial assets and could act as guarantor?

And how would you address the land ownership issue if the BF is not Thai ?....The bank will not go for this

[hyperdimension]

What if the girlfriend and her family have substantial assets and could act as guarantor?

And how would you address the land ownership issue if the BF is not Thai ?....The bank will not go for this

What if the property is a condominium?

[InterestedObserver]

What if the girlfriend and her family have substantial assets and could act as guarantor?

And how would you address the land ownership issue if the BF is not Thai ?....The bank will not go for this

What if the property is a condominium?

A condominium purchased in a foreign name must be paid for in foreign currency with a Foreign Exchange Transaction Form (TT3) from a Thai bank.

Edited December 8, 2011 by InterestedObserver

[hyperdimension]

What if the girlfriend and her family have substantial assets and could act as guarantor?

And how would you address the land ownership issue if the BF is not Thai ?....The bank will not go for this

What if the property is a condominium?

A condominium purchased in a foreign name must be paid for in foreign currency with a Foreign Exchange Transaction Form (TT3) from a Thai bank.

That's not always the case, e.g. when the farang has residence permit.

[TexasRanger]

UOB bank were offering the Mrs 99% mortgage ig going off her payslips, if I was to garuntee they wanted 30% deposit. Told them to poke it on principle and saved up to pay cash.