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Getting a mortage with 100% foreign income?

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Hey,

If your income is 100% from abroad from your own companies - how hard is it to get a mortage?

For example i have wire payments coming in every friday to my kasikorn account since i opened it. The amount is in the six figure range.

What paper work do they require to approve a mortage, what kind of down payment can i expect on a 11mil condo?

What do you intend to buy? A house or a condo? Buying in your name or that of a Thai?

Buying a condo under a foreign name, individual or company, requires 100% fund from overseas with a certificate from a Thai bank stating such a fund has been transferred from overseas and converted to Thai baht for the purpose of buying a condo.

You can seek a mortgage from a Thai bank when the title deed is in your name.

Why everybody wants a mortgage, why not just pay cash.

Very hard now for Foreigners to get mortgages from any Thai Bank. Best of trying UOB. No way you will get 100%.

  • Author

Why everybody wants a mortgage, why not just pay cash.

Because not everyone has 10million+ in their piggy bank..

since buying a condo = having to transfer the full amount in a foreign currency to Thailand, I suppose it is safe to assume that no local mortgage is possible

since buying a condo = having to transfer the full amount in a foreign currency to Thailand, I suppose it is safe to assume that no local mortgage is possible

Not exactly. There are case-by-case chances of getting a loan/mortgage to buy here in Thailand, but i doubt very much you will get more than 60%LTV and you will then be likely only to get that offered by way of via the developer you were buying from or from UOB......

since buying a condo = having to transfer the full amount in a foreign currency to Thailand, I suppose it is safe to assume that no local mortgage is possible

Not exactly. There are case-by-case chances of getting a loan/mortgage to buy here in Thailand, but i doubt very much you will get more than 60%LTV and you will then be likely only to get that offered by way of via the developer you were buying from or from UOB......

Oh I dont know about that, I co-signed on a mortgage for Mr Soutpeel for a house some years ago, obviously been regularly paid and SCB offered me a mortgage on condo if I wanted it think they said they would go upto around 90%, no developer involved, although at this stage not interested, but nice to know its there.

Think its a case once you have a credit history in Thailand, think further doors open up for someone on the mortgage front but doesnt change the fact you will not get a mortgage in your own name on a landed property.

although the thing that occured to me if you bought a condo on a mortgage from say SCB, paid it off, sold it, how would one get the cash out as you never brought the money into the country in the first place..

Hey,

If your income is 100% from abroad from your own companies - how hard is it to get a mortage?

For example i have wire payments coming in every friday to my kasikorn account since i opened it. The amount is in the six figure range.

What paper work do they require to approve a mortage, what kind of down payment can i expect on a 11mil condo?

If your still looking for a mortgage please email me. I can help you.

Sent from my iPad using Thaivisa Connect Thailand

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