Mortgages

[klinpree]

Have anybody out there stood guarantor for a mortgage in your wifes name?

If so was she employed or not.

In the process of doing this now and getting different tales from different branches of banks and the run around from the head office.

Any one done this successfully if so what bank did they use.

[happynthailand]

yes "SCB" bank

bank will give loan- wife 80% if have job, you 50% if you have income,will take loan payment out of your account.

it helps if you have a one visa,takes a bout a month to get approved

you'll have to pay 20% on wife's loan or 50% on your's up front

the loan will be in wife's name no matter which way you go

that on a 10 year loan if I remember right only 3 1/2 % interest rate

Hope this helps

Edited August 15, 2012 by happynthailand

[Crossy]

Agree with SCB, we got a construction loan from them, against Wifey's income with mine 'taken into account'. I never did find out how they decide how much they will lend, other than it being 50% of the construction cost.

Reams of paperwork, but nothing particularly onerous, you do need a Work Permit mind.

[CWMcMurray]

We used Siam City ( no longer exists, bought out by Thanachart)

Wife owns her own small business (but no real paper work to prove income other than 6 months worth of bank statements) and I work here inThailand with work permit

We bought house in gated moo baan and just turned all the paperwork over to them and they did all the negotiating with the banks and just came back to us with approved amount and interest rates

If memory serves me right they advised they we were approve for up to 95% of cost of house (If we had wanted that much)

[PattayaPhom]

We used Siam City ( no longer exists, bought out by Thanachart)

Wife owns her own small business (but no real paper work to prove income other than 6 months worth of bank statements) and I work here inThailand with work permit

We bought house in gated moo baan and just turned all the paperwork over to them and they did all the negotiating with the banks and just came back to us with approved amount and interest rates

If memory serves me right they advised they we were approve for up to 95% of cost of house (If we had wanted that much)

Its possible withe these if your wife can show a bank acount with 6 months statements showing in and outgoings...dosnt have to be a large amount and its better to deposit say 10k and withdraw over the month 6k. Of course they hold Chanote and LTV is 90%...This can probably vary from branch to branch.

[fletchsmile]

Standard Chartered. Mortgage on freehold condo. Condo and mortgage needed to be in same name = wife's.

Wife had no earned income. I was guarantor. Borrowed around 85% for 10 years - could have been up to 25 years with 90% max at the time. We paid it off early after 3 years when the fixed rate promotional period ended, and it was about to revert to variable rate. No extra fees for early repayment once fixed period finished.