Getting a mortage with 100% foreign income?

[PomRakBKK]

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?

[trogers]

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

[PomRakBKK]

Condo - in my or my companies name.

[trogers]

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.

[Cloggie]

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

[saintbangkok]

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

[GirlDrinkDrunk]

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

really?

[PomRakBKK]

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

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

[falang07]

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

[saintbangkok]

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......

[Soutpeel]

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..

[hidavey]

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.

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