Financing Via Bangkok Bank Singapore

[thai thai]

Bangkok Bank's website states that foreigners can get up to a 70% loan for a real estate purchase here in Thailand...what's the story...?

Anybody had any success with this...?

[RAZZELL]

Bangkok Bank's website states that foreigners can get up to a 70% loan for a real estate purchase here in Thailand...what's the story...?

Anybody had any success with this...?

And is it only condo's???

[Scottbiker1976]

If you have an income from overseas better get a mortgage from their and up to 100%.....you can also have a loan for property in Thailand if you life in Europe or the states from your own bank

[naturalpoints]

Bangkok Bank's website states that foreigners can get up to a 70% loan for a real estate purchase here in Thailand...what's the story...?

Anybody had any success with this...?

Hi mate,

Don't bother with Bangkok Bank. They're a JOKE! I went there personally and they were very unhelpful. Bascally, they will lend you depending on your loan amount. They're not interested in small amounts. I wanted a mortgage for about 3 million Baht and they were not very keen. They told me that they'll only lend 60% not 70% as stated. Besides, they want loads of stuff of you, i.e. 6 months bank statements, 3 years tax return, 3 years balance sheet, etc. Also they charge $5000 Sing Dollars for application plus another $2000 Sing for Valuation and Legal conveyancing costs.

Mate, it's a total rip off! Besides, only maximum 10 year loan!!!!

Think about it! Doesn't make sense init!!!!

[thai thai]

Here is the website:

http://www.bangkokbank.com/Bangkok+Bank/Pe...nts/default.htm

It appears that they are willing to accomate foreigners willingly. However, I do not understand why a Thai Bank has to have it's Sigapore Branch loan me money for the purchase of a Thai property...it's seems it would be easier for them to do it locally...it's the same company (?)

I am sure somebody has taken them up on their offer...I would lik to hear about their experience.

Cheers,

thai tahi

[moonoi]

Here is the website:

http://www.bangkokbank.com/Bangkok+Bank/Pe...nts/default.htm

It appears that they are willing to accomate foreigners willingly. However, I do not understand why a Thai Bank has to have it's Sigapore Branch loan me money for the purchase of a Thai property...it's seems it would be easier for them to do it locally...it's the same company (?)

I am sure somebody has taken them up on their offer...I would lik to hear about their experience.

Cheers,

thai tahi

The reason is that as a foreigner purchasing a condo your supposed to bring the money in from abroad. When you transfer the money from your foreign account you are issued a certificate which you need to prove that the money was sourced outside of thailand.

That said Land and House said that they would lend me money to buy one of there condos' and it was no problem that the deposit etc was paid from my thai account (I live and work here so don't have any offshore assets)

[Heng]

Bangkok Bank's website states that foreigners can get up to a 70% loan for a real estate purchase here in Thailand...what's the story...?

Anybody had any success with this...?

Besides, they want loads of stuff of you, i.e. 6 months bank statements, 3 years tax return, 3 years balance sheet, etc.

That's crazy. They want to check your credit on a loan!!!??? Why don't they just stuff the cash in a bag, throw it over the counter to you and say "pay us back in 10 years +7%"?

[thai thai]

"That's crazy. They want to check your credit on a loan!!!??? Why don't they just stuff the cash in a bag, throw it over the counter to you and say "pay us back in 10 years +7%"

I have a Thai developer firend who owns thousands of rai of land all over Thailand, and he said that prior to 1997...that's exactly what the banks here did. He said that all he had to do wa show a bank a list of names of people who (might be) interested in his project, and...bingo...!

[naturalpoints]

Hey mate,

You know what's the worst situaton. No other banks will loan me money to buy a property in Thailand.

I checked with all the big international banks............No chance!!

Hence, as a foreigner the only way is Bangkok Bank............a big monopoly for the Thai Government.

They are the ONLY 1 who will do so but all the paperwork plus administration costs and don't forget the high interest repayment means that you're the loser!!!

Buy thai properties, & get financed by thai banks. So both ways they benefit init. As funds will flow into their country only through their banking system.

I've decided to go halfs with a mate and we'll just pay cash and then enjoy the rental yield of 7-9%. That's better than having money in the bank which pays no more than 4% here in the UK (that's if you're lucky!)

Cheers!!!

[Heng]

"That's crazy. They want to check your credit on a loan!!!??? Why don't they just stuff the cash in a bag, throw it over the counter to you and say "pay us back in 10 years +7%"

I have a Thai developer firend who owns thousands of rai of land all over Thailand, and he said that prior to 1997...that's exactly what the banks here did. He said that all he had to do wa show a bank a list of names of people who (might be) interested in his project, and...bingo...!

Criteria will naturally differ between somebody's and nobody's.

[OldAsiaHand]

Hey mate,

You know what's the worst situaton. No other banks will loan me money to buy a property in Thailand.

I checked with all the big international banks............No chance!!

Hence, as a foreigner the only way is Bangkok Bank............a big monopoly for the Thai Government.

They are the ONLY 1 who will do so but all the paperwork plus administration costs and don't forget the high interest repayment means that you're the loser!!!

Buy thai properties, & get financed by thai banks. So both ways they benefit init. As funds will flow into their country only through their banking system.

I've decided to go halfs with a mate and we'll just pay cash and then enjoy the rental yield of 7-9%. That's better than having money in the bank which pays no more than 4% here in the UK (that's if you're lucky!)

Cheers!!!

This has got to be a wind up. Nobody is this dumb.

[appleman_thai]

Well I managed to get a 70%mortgage here from SCB Bank.

I didnt take all the money in from outside thailand like you are supposed to and i had no problems with registration at land office. Plenty of smiles and wais.....

anything is possible here if you have time and money....... the 2 most exclusive things in the world!

[naturalpoints]

Well I managed to get a 70%mortgage here from SCB Bank.

I didnt take all the money in from outside thailand like you are supposed to and i had no problems with registration at land office. Plenty of smiles and wais.....

anything is possible here if you have time and money....... the 2 most exclusive things in the world!

Good for you mate!

Tried SCB also......they won't do it!

Cash is King!

[Gary A]

Everyone asks/talks about borrowing money from a bank but no one says anything about the terms. My FIRST consideration would be to want to know what this loan is going to cost me. No one mentions interest types or rates.

Well I managed to get a 70%mortgage here from SCB Bank.

I didnt take all the money in from outside thailand like you are supposed to and i had no problems with registration at land office. Plenty of smiles and wais.....

anything is possible here if you have time and money....... the 2 most exclusive things in the world!