Hello People,

I was wondering whether Thai Mortgages offer any early overpayments schemes.

For example in UK you can usually over pay your mortgage up to 10% of the annual outstanding principle loan balance without paying any 'early payment fee'

Is this generally the same for Thai mortgages? Is there a best one to go for?

I'll be getting a 10 year mortgage but most likely, if possible, be paying it off earlier.

Any info on this matter would as always be much appreciated.

Cheers

A

Edited February 24, 201313 yr by awizinho

Yes I believe you can overpay, we have a home construction loan with Siam Commercial Bank, the scheduled monthly payment (which will allow completion in 15 years) is definitely marked as being the minimum.

Yes I believe you can overpay, we have a home construction loan with Siam Commercial Bank, the scheduled monthly payment (which will allow completion in 15 years) is definitely marked as being the minimum.

Cheers

That's good to know mate.

Any idea if there is a fine/fee to overpay the minimum? Hopefully, fingers crossed the Thais have a way you can pay off the balance without occuring the interest which it would have accumilated had the loan /mortgage been stretched out to its original time scales.

Not to sound snarky, but why not call your bank and ask? Or refer to your mortgage contact paperwork?

Not to sound snarky, but why not call your bank and ask? Or refer to your mortgage contact paperwork?

Yeah cheers, smart bloke!

Edited February 24, 201313 yr by awizinho

I have one as well with SCB bank mines stretched to be done in 27 years . There is no penilty for paying off early as long as you dont pay it off in the first three years or refianance with another bank to pay off .... My plans are to pay it off in 8 years but you know how that goes ..............