Forkinhades Posted August 21, 2012 Share Posted August 21, 2012 I have a company in which I purchased 2 properties. Company accounts good for 10 years now. I need to raise some cash quickly and was wondering if could get a loan against 1 of the houses. The houses are worth 3.5m each, and I need to raise 500, 000 baht. I am not Thai, and do not have a Thai partner. Sent from my GT-I9300 using Thaivisa Connect App Link to comment Share on other sites More sharing options...
mike123ca Posted August 21, 2012 Share Posted August 21, 2012 In your home country no problem. Here in Thailand, I would say all bets are off. Funny, most of my Thai relatives earn very little, but owe a fortune to the banks. Can you get a Thai partner to co-sign? Why not go to a bank and explain your situation and see if they can come up with a solution to help you. Link to comment Share on other sites More sharing options...
Sharp Posted August 22, 2012 Share Posted August 22, 2012 Yep i got a 5 million overdraft secured against our house ( Her house its Thailand ) but only because my Thai partner signed for it althought i did have to countersign. Siam Commercial bank..... Link to comment Share on other sites More sharing options...
davejones Posted August 22, 2012 Share Posted August 22, 2012 (edited) In your home country no problem. Here in Thailand, I would say all bets are off. Funny, most of my Thai relatives earn very little, but owe a fortune to the banks. Can you get a Thai partner to co-sign? Why not go to a bank and explain your situation and see if they can come up with a solution to help you. Bad advice. This is possible. Check with a few banks. There was one company mentioned on an earlier post on here that said they lent money at 105 secured against the property. Not sure how legit they are though. If you can find an individual to lend to you they can register their interest at the land registry I think. Not sure of the exact process though. Are the properties bought legally though? I mean are they used by the company and not just bought by the company to get around land laws. What Thai people own the 51% share? Can they lend you the money? Edited August 22, 2012 by davejones Link to comment Share on other sites More sharing options...
Soutpeel Posted August 22, 2012 Share Posted August 22, 2012 The company should be able to raise that loan using the houses as collateral, but guess the only one that can answer this is the bank concerned. Could you get it in your personal capacity, most likely not, as the houses are in the company name, therefore they are the legal "owners" of the properties, not you per se... Link to comment Share on other sites More sharing options...
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