Getting A Mortgage Or Any Money Out Of A Thai Bank.

[jambco984]

How if at all can I get a mortgage from a Thai bank.

I'd imagine its not going to be in my name, not being able to own land etc....

I have lived here nearly a year and a half working in a very reputable school in Sukhothai on a good salary. Me and the wife both have accounts with SCB which we have had for 7ish months now.

I am legally married and the missus works in the Big C bringing home approx 9000-10000 baht per month. She had a bit of bad credit when she was younger, don't know if that goes against her?

We want to borrow money to build a house on the mother in laws land, I have money in the UK but would like to leave that alone for now.

We also have in Thai savings a wopping 100k baht.

So how does the wife get a mortgage, specific requirements, hoops to jump through? All knowledge welcomed.

I cant think of anything more at the moment but if you need more info please feel free to ask, as long as you are offering some real pearls of wisdom ;-)

Take care and looking forward to your replies

jambco984

[soi41]

First of all a 7 months bankhistory isn't that impressive. If you were going to build a house for lets say 3M baht and borrow all from the bank, just the interest will be 200k+ yearly, which adds up to about twice your wifes yearly earnings. If I was the bankmanager I would say NO, especially with a bad credithistory in the baggage. So I guess you would have to a bit more saving and pay cash, with your current rate of saving it will only take you 17 years !! Good luck.

[PattayaPhom]

I suggest you go to the bank and ask as you are just going to get negative comments. The only possible problem is the land is in MIL name..when taking a mortgage the bank usually has the chanote as security, as the loan is in your wifes name it probably wont be possible.

[jambco984]

First of all a 7 months bankhistory isn't that impressive. If you were going to build a house for lets say 3M baht and borrow all from the bank, just the interest will be 200k+ yearly, which adds up to about twice your wifes yearly earnings. If I was the bankmanager I would say NO, especially with a bad credithistory in the baggage. So I guess you would have to a bit more saving and pay cash, with your current rate of saving it will only take you 17 years !! Good luck.

I agree 7 months is not impressive, never claimed it was ;-)

I have a substantial lets say wedge back in blighty but don't want to use it as its a rainy day fund when the rain stops and the world goes pop fund. Don't get me wrong I would say no also (I probably wouldn't shout NO ;-) ) it's just a query really and just to get a feel of things.

Thank you for your help though I am a little more wiser for reading this ;-)

I suggest you go to the bank and ask as you are just going to get negative comments. The only possible problem is the land is in MIL name..when taking a mortgage the bank usually has the chanote as security, as the loan is in your wifes name it probably wont be possible.

True true I am well aware of the 'Troll Brigade' and didn't really want to post such an open to abuse question but here it is.

Hmm interesting about the MIL aspect. Basically it's on the family land where FIL and MIL house is and we would want to build next door (but not too close obviously)

Thank you for your assistance and all info taken on board.

Take care

Darren.

[TommoPhysicist]

Churn your wifes credit rating with SCB.

Pay into her account each month all you can, say 25k, spend all your outgoings from that account, say leaving 10+k in each month.

This will show the bank she can save 10k a month (plus what you now pay for rent) therefore affording a mortgage of 15k a month.

If you were buying a house through an agent, they can also help alter (falsify/massage) your wifes credit rating.

The bank only looks back over 6 months, so after that she can apply for a mortgage.

[jambco984]

Churn your wifes credit rating with SCB.

Pay into her account each month all you can, say 25k, spend all your outgoings from that account, say leaving 10+k in each month.

This will show the bank she can save 10k a month (plus what you now pay for rent) therefore affording a mortgage of 15k a month.

If you were buying a house through an agent, they can also help alter (falsify/massage) your wifes credit rating.

The bank only looks back over 6 months, so after that she can apply for a mortgage.

She tells me she owed her old bank 10k baht for a little too long and its all sorted now?

My friends all tell me that banks usually only look back over 6 months here thats why I mentioned having an account for 7 months, in the hope someone else knew of this policy.

We would probably only want about 1M baht as we have family builders, sparks and decorators so hopefully costs will stay minimal and 1M baht buys you a hell of a lot in the sticks as Mr. Bojangles is proving with his approx. 700k baht house and it looks great.

I have been doing this in my account putting the money in and taking it out but it doesn't really count on my account, I will start doing the fluffing of the missus account instead. It benefits me when I'm eligible for a credit card.

Thank you Tommo much appreciated input

[PattayaPhom]

Churn your wifes credit rating with SCB.

Pay into her account each month all you can, say 25k, spend all your outgoings from that account, say leaving 10+k in each month.

This will show the bank she can save 10k a month (plus what you now pay for rent) therefore affording a mortgage of 15k a month.

If you were buying a house through an agent, they can also help alter (falsify/massage) your wifes credit rating.

The bank only looks back over 6 months, so after that she can apply for a mortgage.

She tells me she owed her old bank 10k baht for a little too long and its all sorted now?

My friends all tell me that banks usually only look back over 6 months here thats why I mentioned having an account for 7 months, in the hope someone else knew of this policy.

We would probably only want about 1M baht as we have family builders, sparks and decorators so hopefully costs will stay minimal and 1M baht buys you a hell of a lot in the sticks as Mr. Bojangles is proving with his approx. 700k baht house and it looks great.

I have been doing this in my account putting the money in and taking it out but it doesn't really count on my account, I will start doing the fluffing of the missus account instead. It benefits me when I'm eligible for a credit card.

Thank you Tommo much appreciated input

I know SCB and Kasikorn use 6 months prior banking so you should be OK...The banks main concern is to see that regular payments have been made to the account, regardless of whether most is drawn out over the month. As your wife works for a large company that is a great help....but again, you want a mortgage on property that wont be either yours or your wifes,,,,it will be MIL property , that is going to be the stumbling block...easiest option is have MIL transfer land to your wifes name...tax will be minimal.

[jambco984]

Churn your wifes credit rating with SCB.

Pay into her account each month all you can, say 25k, spend all your outgoings from that account, say leaving 10+k in each month.

This will show the bank she can save 10k a month (plus what you now pay for rent) therefore affording a mortgage of 15k a month.

If you were buying a house through an agent, they can also help alter (falsify/massage) your wifes credit rating.

The bank only looks back over 6 months, so after that she can apply for a mortgage.

She tells me she owed her old bank 10k baht for a little too long and its all sorted now?

My friends all tell me that banks usually only look back over 6 months here thats why I mentioned having an account for 7 months, in the hope someone else knew of this policy.

We would probably only want about 1M baht as we have family builders, sparks and decorators so hopefully costs will stay minimal and 1M baht buys you a hell of a lot in the sticks as Mr. Bojangles is proving with his approx. 700k baht house and it looks great.

I have been doing this in my account putting the money in and taking it out but it doesn't really count on my account, I will start doing the fluffing of the missus account instead. It benefits me when I'm eligible for a credit card.

Thank you Tommo much appreciated input

I know SCB and Kasikorn use 6 months prior banking so you should be OK...The banks main concern is to see that regular payments have been made to the account, regardless of whether most is drawn out over the month. As your wife works for a large company that is a great help....but again, you want a mortgage on property that wont be either yours or your wifes,,,,it will be MIL property , that is going to be the stumbling block...easiest option is have MIL transfer land to your wifes name...tax will be minimal.

Yeah thought about the old transferring the land malarkey. Just wanted to see what all the great minds on here thought first. I will have to speak to the missus a little more in depth on the subject, maybe buy MIL something nice to keep her sweet then pounce

She said all is OK to build as she wants us both nearer to home than the 40km we live away now. Commuting to my place of work will take longer as I live 1 km away now but LPG will save me a fortune (luckily I get on with my IL's)

Thanks again

Darren.

[PattayaPhom]

Its the only way Darren...you surely know that on any mortgage the title deeds are held as security, as you dont own the land you wont get a mortgage on it...Family transfers of land are different in that tax isnt levied the same as a normal sale and is minimal...Both my wife and I receive so many fliers from SCB and Kasikorn offering loans etc, we have been looking to purchase a plot and build more rooms so initialy inquired in the event we may need to borrow some money, SCB and Kasikorn both agreed in principal.....yes we have banked longer than 6 months but that was all they were interested in.....so go for it...have a chat at your local branch....its not as hard as some think.

[jambco984]

Its the only way Darren...you surely know that on any mortgage the title deeds are held as security, as you dont own the land you wont get a mortgage on it...Family transfers of land are different in that tax isnt levied the same as a normal sale and is minimal...Both my wife and I receive so many fliers from SCB and Kasikorn offering loans etc, we have been looking to purchase a plot and build more rooms so initialy inquired in the event we may need to borrow some money, SCB and Kasikorn both agreed in principal.....yes we have banked longer than 6 months but that was all they were interested in.....so go for it...have a chat at your local branch....its not as hard as some think.

Its the only way Darren...you surely know that on any mortgage the title deeds are held as security, as you dont own the land you wont get a mortgage on it...Family transfers of land are different in that tax isnt levied the same as a normal sale and is minimal...Both my wife and I receive so many fliers from SCB and Kasikorn offering loans etc, we have been looking to purchase a plot and build more rooms so initialy inquired in the event we may need to borrow some money, SCB and Kasikorn both agreed in principal.....yes we have banked longer than 6 months but that was all they were interested in.....so go for it...have a chat at your local branch....its not as hard as some think.

Appreciate your input PP it's great to have someone who isn't just trying to get one over on you or undermine what your writing. I will admit I'm clueless so thankfully so far the abuse hasn't rolled in.

When the missus is free we will head to the bank and see what they say, worst case scenario is they say no, crazier things have happened.

Take care and I will report back when I know either way :-D

[uty6543]

This site might help you with information about how much you can borrow and the repayments

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Loans/Home%20Loans/Pages/Loan%20Calculator.aspx

My Tips

Go and ask a bank. People on thai visa may try to give you good advice but the bank will tell you the facts

Go to at least two banks they are not all the same. some bank employees lie. Don't forget they get commision for selling loans

Don't build on MIL land buy a peice of land away from wife family 5 miles will reduce the number of visits and raids on your fridge

Try to find a ready built house. It wll save you a lot of headaches

GOOD LUCK

[jambco984]

This site might help you with information about how much you can borrow and the repayments

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Loans/Home%20Loans/Pages/Loan%20Calculator.aspx

My Tips

Go and ask a bank. People on thai visa may try to give you good advice but the bank will tell you the facts

Go to at least two banks they are not all the same. some bank employees lie. Don't forget they get commision for selling loans

Don't build on MIL land buy a peice of land away from wife family 5 miles will reduce the number of visits and raids on your fridge

Try to find a ready built house. It wll save you a lot of headaches

GOOD LUCK

Cheers uty6543, luckily I am probably one of the few who get on with all of the in laws, theres no asking for money at all and theres no two faced family members (or so I know of). I lived with them for 4 months previously and it was fine, the sister in law has 2 kids and that was the only crux of us eventually moving out, oh and living 40km from work, now I have LPG travelling in the morning is do-able. If I have my own house built on IL's land It will be just out of ear shot of the morning screams and playing and if all else fails theres always the lock the doors when off to bed scenario.

Off to a bank later today to get some scope.

Thank you

Darren.

[jambco984]

Its the only way Darren...you surely know that on any mortgage the title deeds are held as security, as you dont own the land you wont get a mortgage on it...Family transfers of land are different in that tax isnt levied the same as a normal sale and is minimal...Both my wife and I receive so many fliers from SCB and Kasikorn offering loans etc, we have been looking to purchase a plot and build more rooms so initialy inquired in the event we may need to borrow some money, SCB and Kasikorn both agreed in principal.....yes we have banked longer than 6 months but that was all they were interested in.....so go for it...have a chat at your local branch....its not as hard as some think.

This site might help you with information about how much you can borrow and the repayments

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Loans/Home%20Loans/Pages/Loan%20Calculator.aspx

My Tips

Go and ask a bank. People on thai visa may try to give you good advice but the bank will tell you the facts

Go to at least two banks they are not all the same. some bank employees lie. Don't forget they get commision for selling loans

Don't build on MIL land buy a peice of land away from wife family 5 miles will reduce the number of visits and raids on your fridge

Try to find a ready built house. It wll save you a lot of headaches

GOOD LUCK

Moment of truth time......

I went to my SCB Branch and asked the mortgage / money lender man about what the missus could do about the land and mortgage stuff, two options.

Option 1 - Depending on how much the land is worth depends on how much you get, no brainer of course, wont be a lot as land is dirt cheap in the sticks / most places.

Option 2 - As me and the missus are married we can combine bank accounts and combine salaries according to the banker who has done this before for Jonny Farrang. Just get a letter from my school and the missus employer with details of salaries and we can get a mortgage this way.

Builder gives quote and estimate for the build, bank approves it and off you go.

Initially I was confused about this but he said as long as I have a work permit and are 100% legal then I will have no problem bumping up the lending amount, as I'm a 'flight risk' the land would still be owned by the bank until all funds where paid back - he obviously told us how everything would be put in the missus name, land + farrang = NO etc...

So all in all a good half hours work to find some solid answers. Saying that next time we go in they will probably tell us something totally different.

Thoughts please.......

Edited May 18, 2012 by jambco984

[simple1]

Why not try out the Thai Government bank if you're looking at borrowing less that 1m baht - as i recall currently zero interest for Thais. URL: http://www.ghb.co.th/en/content.php?id=54

[PattayaPhom]

Its the only way Darren...you surely know that on any mortgage the title deeds are held as security, as you dont own the land you wont get a mortgage on it...Family transfers of land are different in that tax isnt levied the same as a normal sale and is minimal...Both my wife and I receive so many fliers from SCB and Kasikorn offering loans etc, we have been looking to purchase a plot and build more rooms so initialy inquired in the event we may need to borrow some money, SCB and Kasikorn both agreed in principal.....yes we have banked longer than 6 months but that was all they were interested in.....so go for it...have a chat at your local branch....its not as hard as some think.

This site might help you with information about how much you can borrow and the repayments

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Loans/Home%20Loans/Pages/Loan%20Calculator.aspx

My Tips

Go and ask a bank. People on thai visa may try to give you good advice but the bank will tell you the facts

Go to at least two banks they are not all the same. some bank employees lie. Don't forget they get commision for selling loans

Don't build on MIL land buy a peice of land away from wife family 5 miles will reduce the number of visits and raids on your fridge

Try to find a ready built house. It wll save you a lot of headaches

GOOD LUCK

Moment of truth time......

I went to my SCB Branch and asked the mortgage / money lender man about what the missus could do about the land and mortgage stuff, two options.

Option 1 - Depending on how much the land is worth depends on how much you get, no brainer of course, wont be a lot as land is dirt cheap in the sticks / most places.

Option 2 - As me and the missus are married we can combine bank accounts and combine salaries according to the banker who has done this before for Jonny Farrang. Just get a letter from my school and the missus employer with details of salaries and we can get a mortgage this way.

Builder gives quote and estimate for the build, bank approves it and off you go.

Initially I was confused about this but he said as long as I have a work permit and are 100% legal then I will have no problem bumping up the lending amount, as I'm a 'flight risk' the land would still be owned by the bank until all funds where paid back - he obviously told us how everything would be put in the missus name, land + farrang = NO etc...

So all in all a good half hours work to find some solid answers. Saying that next time we go in they will probably tell us something totally different.

Thoughts please.......

So does the land need to be in wifes name?

[jambco984]

Its the only way Darren...you surely know that on any mortgage the title deeds are held as security, as you dont own the land you wont get a mortgage on it...Family transfers of land are different in that tax isnt levied the same as a normal sale and is minimal...Both my wife and I receive so many fliers from SCB and Kasikorn offering loans etc, we have been looking to purchase a plot and build more rooms so initialy inquired in the event we may need to borrow some money, SCB and Kasikorn both agreed in principal.....yes we have banked longer than 6 months but that was all they were interested in.....so go for it...have a chat at your local branch....its not as hard as some think.

This site might help you with information about how much you can borrow and the repayments

http://www.bangkokbank.com/Bangkok Bank/Personal Banking/Loans/Home Loans/Pages/Loan Calculator.aspx

My Tips

Go and ask a bank. People on thai visa may try to give you good advice but the bank will tell you the facts

Go to at least two banks they are not all the same. some bank employees lie. Don't forget they get commision for selling loans

Don't build on MIL land buy a peice of land away from wife family 5 miles will reduce the number of visits and raids on your fridge

Try to find a ready built house. It wll save you a lot of headaches

GOOD LUCK

Moment of truth time......

I went to my SCB Branch and asked the mortgage / money lender man about what the missus could do about the land and mortgage stuff, two options.

Option 1 - Depending on how much the land is worth depends on how much you get, no brainer of course, wont be a lot as land is dirt cheap in the sticks / most places.

Option 2 - As me and the missus are married we can combine bank accounts and combine salaries according to the banker who has done this before for Jonny Farrang. Just get a letter from my school and the missus employer with details of salaries and we can get a mortgage this way.

Builder gives quote and estimate for the build, bank approves it and off you go.

Initially I was confused about this but he said as long as I have a work permit and are 100% legal then I will have no problem bumping up the lending amount, as I'm a 'flight risk' the land would still be owned by the bank until all funds where paid back - he obviously told us how everything would be put in the missus name, land + farrang = NO etc...

So all in all a good half hours work to find some solid answers. Saying that next time we go in they will probably tell us something totally different.

Thoughts please.......

So does the land need to be in wifes name?

Land isn't essential apparently just salaries is ok. Can't hurt for it to be in Mrs jambco's name though.

Edited May 18, 2012 by jambco984

[JeffreyMcCollum]

How if at all can I get a mortgage from a Thai bank.

Not all banks are set up to do it but some, like SCB do it.

I'd imagine its not going to be in my name, Could be

not being able to own land etc....can, but that is another long story that thousands will say can not but their are a few ways. A few treaties and BOI laws (2002)

I have lived here nearly a year Not really that long, works against you

and a half working in a very reputable school in Sukhothai on a good salary. With proper work permit, contract, and visa ? What is the good salary ? 100.000 + a month ?

Me and the wife both have accounts with SCB which we have had for 7ish months now.Again not that long. Mine was 8 years and they looked at it all.

I am legally married and the missus works in the Big C bringing home approx 9000-10000 baht per month.

How long has she worked there ? And really just making minimum wage.

She had a bit of bad credit when she was younger, don't know if that goes against her?

It all takes into account. How long ago at what age and is it all cleared. paid off now ?

We want to borrow money to build a house on the mother in laws land,

You never stated how much ? I would assume under 1 million for a standard home not buying land. Though the land is not your will not help.

I have money in the UK but would like to leave that alone for now.

We also have in Thai savings a wopping 100k baht.

So how does the wife get a mortgage, specific requirements, hoops to jump through? All knowledge welcomed.

I cant think of anything more at the moment but if you need more info please feel free to ask, as long as you are offering some real pearls of wisdom ;-)

Take care and looking forward to your replies

About 3 years back a new law allowing banks to loan to Expats was made. Usually 1/3 down and up to 5 years lown time but all banks will not due it. Seems like your issues are more compounded and complex. as some options, a loan could be taken against the inlaws home and land if they will do that for you. Also, the Euro may not be that safe. It lost 20% against the baht in the last year or so. Maybe transfer that money to Thailand, place it in the bank, and loan against it.

Another option I did in Hawaii was live at the inlaws, and start to build with just what you have each month. Depending on home size and your income, it may be done in a year or so.

Chok Dee

[Soutpeel]

Moment of truth time......

I went to my SCB Branch and asked the mortgage / money lender man about what the missus could do about the land and mortgage stuff, two options.

Option 1 - Depending on how much the land is worth depends on how much you get, no brainer of course, wont be a lot as land is dirt cheap in the sticks / most places.

Option 2 - As me and the missus are married we can combine bank accounts and combine salaries according to the banker who has done this before for Jonny Farrang. Just get a letter from my school and the missus employer with details of salaries and we can get a mortgage this way.

Builder gives quote and estimate for the build, bank approves it and off you go.

Initially I was confused about this but he said as long as I have a work permit and are 100% legal then I will have no problem bumping up the lending amount, as I'm a 'flight risk' the land would still be owned by the bank until all funds where paid back - he obviously told us how everything would be put in the missus name, land + farrang = NO etc...

So all in all a good half hours work to find some solid answers. Saying that next time we go in they will probably tell us something totally different.

Thoughts please.......

Did this with SCB about 8 years ago...a little more information will be needed by SCB and the mortage is not in your name, its in the Mrs name only...you will mearly co-sign the loan..so facts from when I went through this:

1. You do not need to be married (myself & Mrs soutpeel were not married at the time)

2. You will need copies of your WP & passport

3. You will need letter from the company

4. You will need 12 months pay slips from said company

5. Nothing is in your name

6. income can be based solely on your income if need be, doesnt need to be a combined income, in fact when we did this Mrs Soutpeel wasnt working and the loan amount was assessed/approved against my income only

From the moment the paper work goes in, it takes about 6 weeks for approval

[jambco984]

How if at all can I get a mortgage from a Thai bank.

Not all banks are set up to do it but some, like SCB do it.

I'd imagine its not going to be in my name, Could be

not being able to own land etc....can, but that is another long story that thousands will say can not but their are a few ways. A few treaties and BOI laws (2002)

I have lived here nearly a year Not really that long, works against you

and a half working in a very reputable school in Sukhothai on a good salary. With proper work permit, contract, and visa ? What is the good salary ? 100.000 + a month ?

Me and the wife both have accounts with SCB which we have had for 7ish months now.Again not that long. Mine was 8 years and they looked at it all.

I am legally married and the missus works in the Big C bringing home approx 9000-10000 baht per month.

How long has she worked there ? And really just making minimum wage.

She had a bit of bad credit when she was younger, don't know if that goes against her?

It all takes into account. How long ago at what age and is it all cleared. paid off now ?

We want to borrow money to build a house on the mother in laws land,

You never stated how much ? I would assume under 1 million for a standard home not buying land. Though the land is not your will not help.

I have money in the UK but would like to leave that alone for now.

We also have in Thai savings a wopping 100k baht.

So how does the wife get a mortgage, specific requirements, hoops to jump through? All knowledge welcomed.

I cant think of anything more at the moment but if you need more info please feel free to ask, as long as you are offering some real pearls of wisdom ;-)

Take care and looking forward to your replies

About 3 years back a new law allowing banks to loan to Expats was made. Usually 1/3 down and up to 5 years lown time but all banks will not due it. Seems like your issues are more compounded and complex. as some options, a loan could be taken against the inlaws home and land if they will do that for you. Also, the Euro may not be that safe. It lost 20% against the baht in the last year or so. Maybe transfer that money to Thailand, place it in the bank, and loan against it.

Another option I did in Hawaii was live at the inlaws, and start to build with just what you have each month. Depending on home size and your income, it may be done in a year or so.

Chok Dee

I have lived here nearly a year and a half, Not really that long, works against you - I have been paying tax also. Yes not long on a grand scheme of things.

working in a very reputable school in Sukhothai on a good salary.

With proper work permit, contract, and visa ? What is the good salary ? 100.000 + a month ?

Yes with a WP, Contract and Visa. Good salary is exactly what it says on the tin, a good salary being based up north and with a much lower cost of living so its not 6 figures but a fair 5 figures per month + 5% payrise annualy.

Me and the wife both have accounts with SCB which we have had for 7ish months now.Again not that long. Mine was 8 years and they looked at it all. Different reports coming in from many folk on PM say differently but case by case your right.

I am legally married and the missus works in the Big C bringing home approx 9000-10000 baht per month.

How long has she worked there ? 8 months not long yes I know.

And really just making minimum wage. Salary is minimum wage yes but commision doubles her wage (irrelevant though)

She had a bit of bad credit when she was younger, don't know if that goes against her?

It all takes into account. How long ago at what age and is it all cleared. paid off now ?

18 years old all sorted now.

We want to borrow money to build a house on the mother in laws land,

You never stated how much ? I would assume under 1 million for a standard home not buying land. Though the land is not your will not help.

Less than or no more than a million YES, I can do plenty with that sort of money here.

My money in the UK is fine, it wont be getting involved with the euro idiots and being swallowed up.

Thank you for your time to reply, much appreciated

[jambco984]

Moment of truth time......

I went to my SCB Branch and asked the mortgage / money lender man about what the missus could do about the land and mortgage stuff, two options.

Option 1 - Depending on how much the land is worth depends on how much you get, no brainer of course, wont be a lot as land is dirt cheap in the sticks / most places.

Option 2 - As me and the missus are married we can combine bank accounts and combine salaries according to the banker who has done this before for Jonny Farrang. Just get a letter from my school and the missus employer with details of salaries and we can get a mortgage this way.

Builder gives quote and estimate for the build, bank approves it and off you go.

Initially I was confused about this but he said as long as I have a work permit and are 100% legal then I will have no problem bumping up the lending amount, as I'm a 'flight risk' the land would still be owned by the bank until all funds where paid back - he obviously told us how everything would be put in the missus name, land + farrang = NO etc...

So all in all a good half hours work to find some solid answers. Saying that next time we go in they will probably tell us something totally different.

Thoughts please.......

Did this with SCB about 8 years ago...a little more information will be needed by SCB and the mortage is not in your name, its in the Mrs name only...you will mearly co-sign the loan..so facts from when I went through this:

1. You do not need to be married (myself & Mrs soutpeel were not married at the time)

2. You will need copies of your WP & passport

3. You will need letter from the company

4. You will need 12 months pay slips from said company

5. Nothing is in your name

6. income can be based solely on your income if need be, doesnt need to be a combined income, in fact when we did this Mrs Soutpeel wasnt working and the loan amount was assessed/approved against my income only

From the moment the paper work goes in, it takes about 6 weeks for approval

Thank you for getting back to me.

Another eye opener as to what will be required, its always nicer hearing it from native tongue than speculation and other factors that go into a Thai guess on whether or not something csn be done.

1. You do not need to be married (myself & Mrs soutpeel were not married at the time)

Thats ok Im married anyway ;-)

2. You will need copies of your WP & passport

Check and Check.

3. You will need letter from the company

Arrangeable.

4. You will need 12 months pay slips from said company

Arrangeable.

5. Nothing is in your name

Yes I understand.

6. income can be based solely on your income if need be, doesnt need to be a combined income, in fact when we did this Mrs Soutpeel wasnt working and the loan amount was assessed/approved against my income only

Thank you this info is great.

Thanks for taking the time to reply much appreciated and all taken on board.

Thank you

Darren.

[Soutpeel]

Moment of truth time......

I went to my SCB Branch and asked the mortgage / money lender man about what the missus could do about the land and mortgage stuff, two options.

Option 1 - Depending on how much the land is worth depends on how much you get, no brainer of course, wont be a lot as land is dirt cheap in the sticks / most places.

Option 2 - As me and the missus are married we can combine bank accounts and combine salaries according to the banker who has done this before for Jonny Farrang. Just get a letter from my school and the missus employer with details of salaries and we can get a mortgage this way.

Builder gives quote and estimate for the build, bank approves it and off you go.

Initially I was confused about this but he said as long as I have a work permit and are 100% legal then I will have no problem bumping up the lending amount, as I'm a 'flight risk' the land would still be owned by the bank until all funds where paid back - he obviously told us how everything would be put in the missus name, land + farrang = NO etc...

So all in all a good half hours work to find some solid answers. Saying that next time we go in they will probably tell us something totally different.

Thoughts please.......

Did this with SCB about 8 years ago...a little more information will be needed by SCB and the mortage is not in your name, its in the Mrs name only...you will mearly co-sign the loan..so facts from when I went through this:

1. You do not need to be married (myself & Mrs soutpeel were not married at the time)

2. You will need copies of your WP & passport

3. You will need letter from the company

4. You will need 12 months pay slips from said company

5. Nothing is in your name

6. income can be based solely on your income if need be, doesnt need to be a combined income, in fact when we did this Mrs Soutpeel wasnt working and the loan amount was assessed/approved against my income only

From the moment the paper work goes in, it takes about 6 weeks for approval

Thank you for getting back to me.

Another eye opener as to what will be required, its always nicer hearing it from native tongue than speculation and other factors that go into a Thai guess on whether or not something csn be done.

1. You do not need to be married (myself & Mrs soutpeel were not married at the time)

Thats ok Im married anyway ;-)

2. You will need copies of your WP & passport

Check and Check.

3. You will need letter from the company

Arrangeable.

4. You will need 12 months pay slips from said company

Arrangeable.

5. Nothing is in your name

Yes I understand.

6. income can be based solely on your income if need be, doesnt need to be a combined income, in fact when we did this Mrs Soutpeel wasnt working and the loan amount was assessed/approved against my income only

Thank you this info is great.

Thanks for taking the time to reply much appreciated and all taken on board.

Thank you

Darren.

The only thing I cant answer for you is what they consider to be an "acceptable salary" for a Farang to co-sign the loan, I did ask this question to SCB out of interest and all they would say was that mine was "plenty".....so guess assessment is done on a case for case basis

[Soutpeel]

About 3 years back a new law allowing banks to loan to Expats was made. Usually 1/3 down and up to 5 years lown time but all banks will not due it.

please direct me to offical information from a reputable source which states this....as far as I am aware there has been no law change...a Farang will not get a mortage in their own name, and even if there was a slight chance...no way on property which has land attached to it, due to the obvious landownership laws.

Are you sure this may not relate to gettting a "personal loan" and not a mortage, as typically banks would be very reluctant to give any a mortage on a 5 years term as they would hardly make any money on it....When I co-signed the mortage for Mrs Soutpeel....I was made to "promise" that I would not pay off the loan in 3 years or less on a 15 year term