JusticeFT96 Posted March 31, 2012 Share Posted March 31, 2012 Hi there, My wife turns 21 in a few months and we want to buy a house. I was looking at UOBs website and understood most of it and accepted that I could handle most of it also however the part that worries me is about her producing documents about her work. She does'nt work, I put money in a bank in her name every month to pay for the rent, car and bills so she has more than 30,000 going in every month. Has anyone in similar circumstances been able to gain a mortgage? My income comes from the UK however its income from gambling websites so I do not have an official job nor proof of income/pay slips. Are there any options for us? Cheers Al Link to comment Share on other sites More sharing options...
NewlyMintedThai Posted March 31, 2012 Share Posted March 31, 2012 I don't think it will be possible in your case. Link to comment Share on other sites More sharing options...
JusticeFT96 Posted March 31, 2012 Author Share Posted March 31, 2012 In that case if I bought land would the bank be more willing to lend money to build on land knowing that we own then land? Link to comment Share on other sites More sharing options...
boggle Posted March 31, 2012 Share Posted March 31, 2012 In that case if I bought land would the bank be more willing to lend money to build on land knowing that we own then land? You cannot own land. Link to comment Share on other sites More sharing options...
RAZZELL Posted March 31, 2012 Share Posted March 31, 2012 If you had a deposit of maybe 10%+ you could "probably" get a mortgage for a new development. RAZZ Link to comment Share on other sites More sharing options...
JusticeFT96 Posted March 31, 2012 Author Share Posted March 31, 2012 Obviously but my wife can own land, I can get 10% for a deposit easy if they would lend her the other 90% all the new developments we have visited have said, if we get 100k baht in a bank and leave it there for 6 months with money going in every month then the bank will give us a mortgage after 6 months as we can prove we have income and money. I would prefer to buy land however and build our own house. Link to comment Share on other sites More sharing options...
Popular Post soi41 Posted March 31, 2012 Popular Post Share Posted March 31, 2012 Al. Your 20 year old wife doesn't work (why not ?) and you live from gambling websites. Are you seriously expecting any bank here to give you a mortgage on those grounds? You already give your wife/gf 3 times the average income in Thailand. My feeling is, that you don't live here and are older than 25. If that is the case, leave things as they are. As a gambler you should know, when the odds are against you. Or go ahead with it (she's different), and come back in a couple of years asking for a good lawyer. 5 Link to comment Share on other sites More sharing options...
CHANGOVER Posted March 31, 2012 Share Posted March 31, 2012 One born, or admitted, every minute in the land of spams Link to comment Share on other sites More sharing options...
Popular Post JusticeFT96 Posted March 31, 2012 Author Popular Post Share Posted March 31, 2012 Jesus I came on here for a bit of friendly advice and I get snide remarks about my wife and myself being stupid and that shes after me for money. I dont know why people are asking questions about why doesnt she work but anyway she doesnt work because I dont want her to work. Why would I want her to go work when the money I make is more than enough for both of us to live off. I would rather spend my day with her than sat at home alone in thailand bored. Secondly we have a child together and I dont have the time to look after the baby alone and work. I am just 29 there are many reasons why I trust her and she doesnt get a penny from me, we just live well. You say I GIVE her 3 x the income of an average thai worker, I dont give her a penny, I have the bank card, I simply put it into her bank then pay the bills with it and I do that so that in the future it may help with mortgages etc. I have lived in Thailand for 2 years now and we are deciding to live in the UK or here but after viewing what I can get here for half the price of what I would pay in the UK I am swinging towards Thailand. The view some of you have is that no one can ever be happilly married in thailand and that everything is about money. Its the same all around the world not just thailand. 3 Link to comment Share on other sites More sharing options...
JusticeFT96 Posted March 31, 2012 Author Share Posted March 31, 2012 It was not her idea to buy a house either, it was mine as I am sick and tired of wasting money renting every month. 1 Link to comment Share on other sites More sharing options...
Popular Post NewlyMintedThai Posted March 31, 2012 Popular Post Share Posted March 31, 2012 Jesus I came on here for a bit of friendly advice and I get snide remarks about my wife and myself being stupid and that shes after me for money.I dont know why people are asking questions about why doesnt she work but anyway she doesnt work because I dont want her to work. Why would I want her to go work when the money I make is more than enough for both of us to live off. I would rather spend my day with her than sat at home alone in thailand bored. Secondly we have a child together and I dont have the time to look after the baby alone and work. I am just 29 there are many reasons why I trust her and she doesnt get a penny from me, we just live well. You say I GIVE her 3 x the income of an average thai worker, I dont give her a penny, I have the bank card, I simply put it into her bank then pay the bills with it and I do that so that in the future it may help with mortgages etc. I have lived in Thailand for 2 years now and we are deciding to live in the UK or here but after viewing what I can get here for half the price of what I would pay in the UK I am swinging towards Thailand. The view some of you have is that no one can ever be happilly married in thailand and that everything is about money. Its the same all around the world not just thailand. Ignore these people. There are a lot of bitter posters here who have obviously made choices they now regret, and assume that everyone is as stupis as they were. 3 Link to comment Share on other sites More sharing options...
soi41 Posted March 31, 2012 Share Posted March 31, 2012 To the OP. Sorry not my intention to insult you in any way. But during my years here I have followed quite a few courtcases between Thai/farang spouses. As my wife is a lawyer and farangmarried, we tend to see quite a few of those cases come our way. And in most cases i'm schocked how naive (stupid) farang has been in the ownership setup, or maybe not naive but trusting his partner aswell as the system. Just last week we had a Thai wife leaving her English husband and 3 common children. She just left home after being married for more than 7 years for no obvious reason. Husband with a good job, a caring father, no drinking, no mia noi. I guess she just got bored ? So you can not be to careful. As I mentioned before, I cannot see you qualify for a mortgage here, but if you should get one, make sure you get a usufruct on the property, specially fitted for you being so young. By the way I'm happily married since more than 10 years. Link to comment Share on other sites More sharing options...
JusticeFT96 Posted March 31, 2012 Author Share Posted March 31, 2012 Thanks for the advice, I also have met quite a few blokes (usually mostly old who have married a young girl) who have come out on the losing side of it all. I know that when I get the land or the house it will have be leasing it for 90 years or so cant remember all the details but a friend has advised me and I will ask him what I need to do closer to the time. I am guessing I will most likely go down the buying the land route if its so hard to get a mortgage and just do it bit by bit. Link to comment Share on other sites More sharing options...
cardholder Posted March 31, 2012 Share Posted March 31, 2012 Thanks for the advice, I also have met quite a few blokes (usually mostly old who have married a young girl) who have come out on the losing side of it all. I know that when I get the land or the house it will have be leasing it for 90 years or so cant remember all the details but a friend has advised me and I will ask him what I need to do closer to the time. I am guessing I will most likely go down the buying the land route if its so hard to get a mortgage and just do it bit by bit. Get new advice or a new friend. a lease for 90 years would be pointless - maximum 30 years. 1 Link to comment Share on other sites More sharing options...
thepanom Posted March 31, 2012 Share Posted March 31, 2012 A lease for 90 years is legal only 30 years, I am affraid if you want to buy a house in your name and the land in your wifes name, that you have to pay cash, a mortgage is very very difficult here Link to comment Share on other sites More sharing options...
CHANGOVER Posted March 31, 2012 Share Posted March 31, 2012 I have lived in Thailand for 2 years now and we are deciding to live in the UK or here but after viewing what I can get here for half the price of what I would pay in the UK I am swinging towards Thailand. I'd suggest you 'swing the other way', see how long she will accept you in farangland on your turf. And YES 'they are ALL the same', it's genetic. You are young so buy and keep a property in your name in UK. After 2 years she can get a permanent leave of residence, can work and all should be hunk dory (or at least within that time you should find out). I did that then after 5 years moved here 12 years ago. My wife really misses working in UK tho! At 19 she should be at uni or working to support her family if a country girl. Good luck to the sick buffalo. 1 Link to comment Share on other sites More sharing options...
CHANGOVER Posted March 31, 2012 Share Posted March 31, 2012 Jesus I came on here for a bit of friendly advice and I get snide remarks about my wife and myself being stupid and that shes after me for money. You really think this doesn't happen here? Even my wife admits all/most Thai women are only married to a farang for the money! They die - they get a new one! These are NOT just bargirls but bank tellers/lawyers/teachers etc - as had been said a zillion times 'just because she's not on the game doesn't mean she's not on the game'! Link to comment Share on other sites More sharing options...
thaigold Posted March 31, 2012 Share Posted March 31, 2012 Do some research. The consensus of enlightened opinion is; do not buy land, leases, condos, or any real property in the Kingdom, under any circumstance. The only exception would be your wife's own property, inherited in a chain of custody - as evidenced by her home registration book. Again; no exceptions. Link to comment Share on other sites More sharing options...
thaigold Posted March 31, 2012 Share Posted March 31, 2012 Changeover: Are western Heifers any different? Link to comment Share on other sites More sharing options...
55Jay Posted March 31, 2012 Share Posted March 31, 2012 Changeover: Are western Heifers any different? No. Link to comment Share on other sites More sharing options...
simple1 Posted April 1, 2012 Share Posted April 1, 2012 If you are successful with the mortgage application , as mentioned, you can arrange a Usufruct interest that will guarantee your property access for 30 years (can be renewed). I understand the the Usufruct must be registered at the District Land Office. NB: do not know if you can get a Usufruct for a mortgaged property. If buying an existing property/land get your TGF to check the back of the Chaote to ensure there are no liens on the property. Also if remitting funds to Thailand for a property purchase by you, you must obtain a Tor Tor Sam (3) from your bank that specify funds transferred are you are for property purchase. Link to comment Share on other sites More sharing options...
NewlyMintedThai Posted April 1, 2012 Share Posted April 1, 2012 Do some research. The consensus of enlightened opinion is; do not buy land, leases, condos, or any real property in the Kingdom, under any circumstance. The only exception would be your wife's own property, inherited in a chain of custody - as evidenced by her home registration book.Again; no exceptions. Not sure about "enlightened opinion". I bought a condo in 2004, lived in it for eight years, and just sold it for double what I paid. Oh, and the baht is also 25% stronger in that time -- another gain since I brought in USD to make the purchase. If I had listened to "enlightened opinion", I'd just be out eight years of rent at this point. Link to comment Share on other sites More sharing options...
AZBill Posted April 1, 2012 Share Posted April 1, 2012 It was not her idea to buy a house either, it was mine as I am sick and tired of wasting money renting every month. I'd think very seriously about buying a home here. I, like you, have a very good marriage to a Thai lady who I also prefer not work. I would never ever consider buying a home here. If things do go tits up (and never say never here - I sure don't) then you are totally screwed and you will have pissed away your investment. Also, real estate IMHO is not a good investment here. Link to comment Share on other sites More sharing options...
AZBill Posted April 1, 2012 Share Posted April 1, 2012 Do some research. The consensus of enlightened opinion is; do not buy land, leases, condos, or any real property in the Kingdom, under any circumstance. The only exception would be your wife's own property, inherited in a chain of custody - as evidenced by her home registration book.Again; no exceptions. Not sure about "enlightened opinion". I bought a condo in 2004, lived in it for eight years, and just sold it for double what I paid. Oh, and the baht is also 25% stronger in that time -- another gain since I brought in USD to make the purchase. If I had listened to "enlightened opinion", I'd just be out eight years of rent at this point. So would you buy now in this market? 2004 was a different time. Link to comment Share on other sites More sharing options...
NewlyMintedThai Posted April 1, 2012 Share Posted April 1, 2012 People were saying the same thing in 2004 as they're saying now: never buy a condo. The market is over-priced. The future is uncertain. Some VIP Thai will come along and take it from you. The baht is too strong, it's going to plummet. I have not decided whether to buy a new place at the moment or rent for a while. I don't know the future any better than anyone else. Link to comment Share on other sites More sharing options...
damo Posted April 1, 2012 Share Posted April 1, 2012 Just buy on finance, use the absolute minimum deposit, keep your name out of it and you esentially haven't bought anything. Not for about 30 years anyway. You may be paying 6%ish for finance but think of it as the cost of insurance for your potential assets. Link to comment Share on other sites More sharing options...
NewlyMintedThai Posted April 1, 2012 Share Posted April 1, 2012 Just buy on finance, use the absolute minimum deposit, keep your name out of it and you esentially haven't bought anything. Not for about 30 years anyway. You may be paying 6%ish for finance but think of it as the cost of insurance for your potential assets. Where can you get a mortgage where they let you "keep your name out of it"? Link to comment Share on other sites More sharing options...
WhizBang Posted April 1, 2012 Share Posted April 1, 2012 I dont know why people are asking questions about why doesnt she work but anyway she doesnt work because I dont want her to work. <snip> I dont give her a penny, I have the bank card, I simply put it into her bank then pay the bills with it and I do that so that in the future it may help with mortgages etc. That's fine, BUT, to the bank, she is not working, she is just getting money from you. There was a statement from the government some years ago, that a Thai (presumably woman) cannot buy land with the money from a foreigner. The money must be 100% from her, or, I presume, a Thai source. At the time they were having another crackdown on land ownership and they were proclaiming that such ownership (farang supplying money to spouse for purchase of property) would be illegal. As with most things in Thailand, a pronouncement is made and then one never hears of it again. But at a minimum, assuming said purchase was indeed legal, you would be expected to sign away ALL RIGHTS to any such property. The property would have to 100% in your spouses name and you would have zero claim in the event of any divorce or dispute. As for finding true love in Thailand... yes, it is possible. But it is very very rare. Link to comment Share on other sites More sharing options...
JeffreyMcCollum Posted April 1, 2012 Share Posted April 1, 2012 First you can buy in your name up to 1 rai for a home if you transfer 30m Bt. into Thailand (2002 law) If you, as most do not have that kind of coin around, Some banks will loan to Expats. Not all banks. So check around, But you need 25% - 33% down and the term is up to 5 years. Having a longer track record at the bank helps. I had an account there for 6 years prior to asking. But ask your self. Can you get a home loan in your country ? IF not, most likely not here either. And yes, seems your wife my not qualify either. Mine with a good job making 15,000 a month for the last 7 years did not. And that was a Thai company. Once she had a house, and 2 new cars all paid free and clear, they started to look at her better. There are some who will take payments if you look for them, By owners. It is an up hill battle but not impossible Chok Dee (good luck) If there is a will there is a way ! Link to comment Share on other sites More sharing options...
Gone Posted April 1, 2012 Share Posted April 1, 2012 Anyways, the answer to your question is NO you cannot. She is a child (20) with no job and no university degree therefore no education. You are a gambler living off of a 50/50 chance. Why would any bank give you a mortgage? Wake up man. 1 Link to comment Share on other sites More sharing options...
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