Getting A Mortgage In Thailand

[NewlyMintedThai]

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.

This is the unfortunate reality, yes.

[PattayaPhom]

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.

Property and belongings purchased after marriage are split 50/50..regardless of signing the declaration at the land office....so you do have a claim

[JeremyBowskill]

hahahahaha great Sunday afternoon reading while watching m.o.t.d on the television, not sure which I enjoyed more watching Chelsea win or reading jaded old mens rantings......... i'm guessing op is a poker player??? if not and you got some good inside info please pm it if you would be so kind, I havent really got any useful info on mortgages for you although I am 1 of those suckers who has owned a condo and now a house both of which I have done ok with but was fortunate enough to have the spare cash. I do believe you will find it a hell of a lot easier if you already own the land you wish to build on and wish you good luck with it all.

[metisdead]

A rude and insulting post has been removed as well as the replies.

[TexasRanger]

With your occupation and lack of wage slips I doubt there is a bank in any country that would give you a mortgage. Start saving your cash.

[tolstoy]

"even my wife admits all/most Thai women are only married to a farang for the money!"

I like this post. So this guy's wife has met most or every thai woman married to a foreigner. Just because your wife is ignorant and prejudice against her own gender and nationality doesn't make it reality.

Leave the OP alone.

Fact. His wife cannot get a loan. It is not just money coming into her account she needs to have tax records to back it up. She could have a co-signer which could be the foreigner but the deposit is usually like 50% or something I forget.

My only suggestion would be to buy the land and house but put it in your childs name. Forget about lease and all that paperwork. If the goal is to have something for your child, then leave it to him/her.

As to all of the negative comments just ignore them. Though I don't envy your situation, I don't judge it like others. Good luck. In fairness you will have better luck in the UK than here. Even uneducated people in the UK can make a good living, but here it is impossible. You will both experience less prejudice in the UK than here also as you can see by the comments.

Good luck

[Soutpeel]

Fact. His wife cannot get a loan. It is not just money coming into her account she needs to have tax records to back it up. She could have a co-signer which could be the foreigner but the deposit is usually like 50% or something I forget.

Deposit on a co-signed loan is not always 50%, Mrs Soutpeel was given a 100% mortagage with SCB with myself as the co-sign, she wasnt working at the time, she didnt need any tax records, All they wanted to see was a letter from the Thai company I was working for at the time, 12 months payslips, WP/PP etc.

In the OP case, would say he would two chances of getting a mortage from a Thai bank..no chance and FA chance

[JusticeFT96]

Saving up it is then which I find very hard to do

Few laughable comments on here, some bitter people who obviously are leading a very sad life.

50/50 chance of making money? I have continued to make over a 6 figure sum for the past 7 years and before that I worked in a normal 9-5 job.

I guess I need to stop wasting money and start saving, I was thinking about getting a house in the UK but what is the point? I came here because I love it here!

Thanks for the positive comments and the pms I got I will take it all into account.

[cardholder]

This is probably a good example for anyone who is now starting to earn "over a six figure sum".

Don't spunk it away or in 7 years time you will scrapping around on an internet forum trying to get information about mortgages in Thailand.

Put some of your hard-earned money away to show a track-record of an ability to save. This will show a bank that:-

1. You have accumulated a decent deposit.

2. You can live within your income and have enough spare to save/pay a mortgage.

[WhizBang]

Property and belongings purchased after marriage are split 50/50..regardless of signing the declaration at the land office....so you do have a claim

Except we are talking about land, and a farang cannot own land and must sign over all rights at the land office to the spouse. Other possessions (car/furniture, etc), yes, maybe 50/50... but I would not count on it, at least not without one hell of a long drawn out legal fight.

Prove me wrong on the land, I am willing to learn otherwise. In fact, I would be very happy to learn otherwise.

[cardholder]

Property and belongings purchased after marriage are split 50/50..regardless of signing the declaration at the land office....so you do have a claim

Except we are talking about land, and a farang cannot own land and must sign over all rights at the land office to the spouse. Other possessions (car/furniture, etc), yes, maybe 50/50... but I would not count on it, at least not without one hell of a long drawn out legal fight.

Prove me wrong on the land, I am willing to learn otherwise. In fact, I would be very happy to learn otherwise.

There is no longer a requirement to 'sign over any rights' (in fact the Falang does not have any 'rights' !).

Upon termination of the marriage, both husband and wife has to divide properties which consist of private property (called "Sin Suan Tua" in Thai) and common property (called "Sin Somros" in Thai).

Section 1470 Properties of husband and wife except in so far as they are set aside as Sin Suan Tua, are Sin Somros. Section 1471 Sin Suan Tua consists of: (1) property belonging to either spouse before marriage; (2) property for personal use, dress or ornament suitable for station in life, or tools necessary for carrying on the profession of either spouse; (3) property acquired by either spouse during marriage through a will or gift; (4) Khongman Section 1472 As regards the Sin Suan Tua, if it has been exchanged to other property, other property has been bought or money has been acquired from selling it, such other property or money shall be Sin Suan Tua. Where the Sin Suan Tua has been totally or partly destroyed but replaced by other property or money, such other property or money shall be Sin Suan Tua.

Section 1474 Sin Somros consists of (1) property acquired during marriage; (2) property acquired by either spouse during marriage through a will or gift made in writing if it is declared by such will or document of gift to be Sin Somros; (3) fruits of Sin Suan Tua.In case of doubt as to whether a property is Sin Somros or not it shall be presumed to be Sin Somros. The rule,regarding division of property, are Sin Suan Tua remains the property of the owner and Sin Somros shall divide equally. Section 1533 Upon divorce, the Sin Somros shall be divided equally between man and woman. In some cases it might not divide equally if one spouse disposed Sin Somros as following;

• For his or her exclusive benefit,example; One spouse sells Sin Somros and retains all the money by himself/herself or use it in their own interests..
  
• One spouse has made a disposal with an intention to cause injury to the other. Example; One spouse sells Sin Somros to his or her own relative for very low price.
  
• One spouse has made disposal without the consent of the other. Example; Sin Somros is the land namely sole husband and later husband sells it without consent of wife.
  
• One spouse has willfully destroyed it. Example; Wife is angry with husband and then sells her Sin Somros.
  

[JusticeFT96]

This is probably a good example for anyone who is now starting to earn "over a six figure sum".

Don't spunk it away or in 7 years time you will scrapping around on an internet forum trying to get information about mortgages in Thailand.

Put some of your hard-earned money away to show a track-record of an ability to save. This will show a bank that:-

1. You have accumulated a decent deposit.

2. You can live within your income and have enough spare to save/pay a mortgage.

That all depends on how you wan to live your life. I am very very happy with how I spent my money, I have seen most of the world and done things many people can only dream of in their life. However now I have a wife and child the spending has to stop and priorities must be made.

My advice to anyone earning over a "6 figure sum" is live your life, dont be boring and regret things when you get old. We only live once.