No wonder people like to shop at Lazada.

[beswick]

Dear Forum,

I posted a similar question of a different thread but I think this question deserves its own thread for furture reference. So, my discussion or question is: 'What is the best bank to choose when looking for a mortgage?'

My experience is as follows (I know people's situations are different but some generic information would be helpful).

Siam Commercial Bank - will loan 70%. The example MLR they gave was first Year 5% next variable at 8.1%

Krung Thai - Now have a problem and won't lend

Bangkok Bank - 90% MLR 7.25% but need to see all house documentation before final figure is quoted (is this normal?)

CIMB THAI - 100% MLR 7.6% - never heard of these before?

I will continue to shop around and add as I go along. Please feel free to add your own information and experiences.

[beano2274]

How about Thanachart bank!!!

[bob4you]

If you are farang and think you will get that LTV and interest rate, better think again.

[thepanom]

Did you talk to any bank allready about a mortgage????

It is mabey not so easy to get any way

[Soutpeel]

Did you talk to any bank allready about a mortgage????

It is mabey not so easy to get any way

If the OP is a farang it is highly unlikely he will get a mortgage in his own name for a condo and would say impossible for a house, due to land ownership, best he can hope for a co-sign for a Thai national, having been through this myself 7 years ago, SCB is the best bet

[CHIANGMAITAI]

Does anyone know if my Thai GF can get a mortgage/ loan based on a house that is 90% built? The house along with 2 other lots are owned by a Thai company of which she is the director and major shareholder. She has no credit history but can show a steady income of 60,000 baht per month for last 2 years. What bank would be best to apply? Anyone know anything about the Thai Govt housing Bank?

[fletchsmile]

As a foreigner, there's little chance of a local bank lending to you direct. Two of the most likely routes:

1) Lend to your Thai spouse, guaranteed by you

2) If your net worth is over USD 1mio, there are some banks outside Thailand that will offer much better rates than those to a foreigner direct, based on other assets held with them. LTVs are usually lower around 60% - 70%, and minimum amounts of around USD 400k upwards.

CIMB Thai is CIMB (Malaysian Bank) that bought "Bank Thai", a couple of years back.

We had a mortgage from Standard Chartered in the wife's name, guaranteed by me as a foreigner. Was about 82.5% LTV, and 3 year fixed rate, with variable for next 7. We paid it off after 3 years, as the variable rate wasn't as attractive, and the general trend of THB interest rates looked like would be upwards rather than down over the following years, and indeed turned out that way.

[Soutpeel]

Does anyone know if my Thai GF can get a mortgage/ loan based on a house that is 90% built? The house along with 2 other lots are owned by a Thai company of which she is the director and major shareholder. She has no credit history but can show a steady income of 60,000 baht per month for last 2 years. What bank would be best to apply? Anyone know anything about the Thai Govt housing Bank?

Possibly.....but you dont state how much the mortage would need to be, if you are not in a position to co-sign on the loan, suspect the lack of credit history may go against her, but nothing wrong in talking to SCB or similar

Edited March 13, 2012 by Soutpeel

[soi41]

"Best bank for a morgage". This being Thailand, there is no simple answer to that question. That is very much up to the local branchmanager. 7 years ago, my wife (Thai) and I bought a second house to rent out in Hua Hin. Went to Kbank, where I had been banking for several years, despite a downpayment of more than 50% and a morgageperiod of only 5 years, they turned us down. Went across the street to Bangkok Bank, where non of us were customers and after checking the house and the tittledeed, they gave us the loan. But I doubt very much they would have given us the 90% LVT OP is mentioning for BBL. The loan is paid back now, and you would be surprised by the number of calls from various banks wondering if we need to borrow more.