Can Expats Get A Local Bank Loan To Buy A House Or Car

[jamesintheworld]

Can Expats get a local bank loan to buy a House or Car in Thailand? And if they can what is the process? I currently live in Jakarta, Indonesia and Expats can’t buy property here so I am looking at relocating to somewhere else in SE Asia, but I would prefer not to spend a huge amount upfront. Thanks for the help.

Edited March 9, 2006 by lopburi3

[rcm]

Can Expats get a local bank loan to buy a House or Car in Thailand? And if they can what is the process? I currently live in Jakarta, Indonesia and Expats can’t buy property here so I am looking at relocating to somewhere else in SE Asia, but I would prefer not to spend a huge amount upfront. Thanks for the help.

Hi ,

I don't think so...but you might make this on your Wifes name(if you're married)..depends on her background and financial situation.

By the way ...whats the point of your Forum - nobodys there....so i guess you using all these questions here on TV to become popular ha? And why do you spell the word" Living" like that "LIVENING"? Better use a spell check to make your website ...

Anyways i hope i gave you hints enough now,

rcm

[Pumpui]

Can Expats get a local bank loan to buy a House or Car in Thailand? And if they can what is the process? I currently live in Jakarta, Indonesia and Expats can’t buy property here so I am looking at relocating to somewhere else in SE Asia, but I would prefer not to spend a huge amount upfront. Thanks for the help.

Just got a loan on a Honda Accord.

Workpermit

6 month bank statement

Local Thai garant (needs to have money or income)

25 % down payment

House papers from where you live

Good luck

[GuestHouse]

It seems to be braking Rule No. 1.

If you need a lone, then it is likely you can't afford the hit if you loose the investment you put the money into.

Whatever, if you take a loan in Thailand that you are paying for with cash from overseas, check the maximum movement in the exchange rate you can afford. Don't sail too close to the wind.

[steveromagnino]

Can Expats get a local bank loan to buy a House or Car in Thailand? And if they can what is the process? I currently live in Jakarta, Indonesia and Expats can’t buy property here so I am looking at relocating to somewhere else in SE Asia, but I would prefer not to spend a huge amount upfront. Thanks for the help.

Discussed a few times and I have personally done it (although my case is slightly different) and advised/spoken to 3 people in your exact position or thereabouts how to do it all successful.

Need:

- work permit

- proof of income

- proof that you've been here for a while/have assets that sort of thing

- borrowing for apartment (will not work for land)

Do not need:

- Thai spouse

You can also borrow in Singapore for larger sized purchases with BBL.

[IndoRealty]

Can Expats get a local bank loan to buy a House or Car in Thailand? And if they can what is the process? I currently live in Jakarta, Indonesia and Expats can’t buy property here so I am looking at relocating to somewhere else in SE Asia, but I would prefer not to spend a huge amount upfront. Thanks for the help.

I know many foreigners who own landed houses in Jakarta. Even some of those buildings on Sudirman such as BCA & Da Vinci buildings (owned by Singaporeans) and MidPlaza/Bank of Tokyo building (owned by Japanese). You need to set up an Indonesian company (which belongs to you entirely) to hold a landed house/building in Indonesia and the process is less complicated in Indonesia than in Thailand to own a landed property and many banks in Indonesia are eager to lend money (whereas it is prohibited by the central bank of Thailand for banks in Thailand to lend to foreigners to buy properties and a foreigner can only hold 49% of the company which holds a landed property). More xenophobia in Thailand than in Indonesia in my opinion. Thailand only has an edge of clear regulation on condominium ownership by foreigners. I would expect Indonesia will have a more liberal laws on condo ownership than Thailand. I myself own a landed property in Jakarta and I am a Malaysian national.

Edited March 9, 2006 by IndoRealty

[sinkorswim]

The singapore branch of the Bangkok Bank is offering loans to falangs to purchase property in Thailand providing you meet there critera.

Not yet here in thailaand as far as I know.