Jameskrabi Posted October 27, 2013 Share Posted October 27, 2013 The wive is thinking of applying for a loan from the bank to purchase some land in Phang nga the loan amount is around 400k and as collateral chanute for land owned will be used. Approx how long does it take to receive the funds? Sent from my iPhone using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
pablodiablo Posted October 27, 2013 Share Posted October 27, 2013 might be worth asking the bank or loan provider? just a thought, Link to comment Share on other sites More sharing options...
Jameskrabi Posted October 27, 2013 Author Share Posted October 27, 2013 We only thought of it this evening so were asking experienced people so we can decide on whether it is quicker to bring the funds in rather than go to the bank ECt Sent from my iPhone using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
WilliamCave Posted October 27, 2013 Share Posted October 27, 2013 There are other things needed to know. To be honest if she has no money down the chances are they won't use the land alone for collateral . If she has other property or assets to show then she has a chance. How much is she putting down? Land alone is harder to get a Ioan for. I just bought a shop house and I put down a good bit of money . So my wife did get the mortgage , One bank was a longntime to come back with no chance and the other bank approved the mortgage in a week. So try different banks , they don't seem to follow any real mortgage chart for loaning money Good luck , Link to comment Share on other sites More sharing options...
Jameskrabi Posted October 27, 2013 Author Share Posted October 27, 2013 Hi approx 50 rai rubber tree and sea view land some chanute some sor por gor, Very Good credit rating and cash is the only issue as we have had some extremely large bills over the last year. We have money offshore but for such a small amount it would not seem worthwhile to bring it in if it can be helped . Sent from my iPhone using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
klubex99 Posted October 27, 2013 Share Posted October 27, 2013 (edited) Let me try to get a handle on this.... you say that you can buy 50 rai of land with rubber trees in place and with a sea view in Phang nga province? Really?? That's 8000 per rai. Are you sure it is not 400K per rai? I will buy it from you the next day for 2 million... do we have a deal? By the way, the bank values your land same as government land office does and that is always much lower than actual selling price. We paid 65K per rai on 12 rais earlier this year and the land office valuation was 20K per rai. If we gave the chanote to the bank, we would be able to only borrow 20K per rai. I was looking at some sea view land in Phang nga back in April. It was valued at 10 million per rai. Edited October 27, 2013 by klubex99 Link to comment Share on other sites More sharing options...
Jameskrabi Posted October 27, 2013 Author Share Posted October 27, 2013 I'm not sure where you got that from? No that's what currently is owned . We were talking about collactural the land we are aiming to buy us 4.4 million but we are short 400k baht it would take a week to transfer in to the country . So we thought we would speak to the bank . Sent from my iPhone using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
klubex99 Posted October 27, 2013 Share Posted October 27, 2013 I transferred 1.5 million baht (£30,000 GBP) earlier this year and it was in my account the next day. Link to comment Share on other sites More sharing options...
Jameskrabi Posted October 27, 2013 Author Share Posted October 27, 2013 Yes unfortunately am required to give 30 days notice as it is not a current account. I can break down to 7 but then face penalties . For 400k baht it really is not worth the hassle if it can be as voided, any way the wife feels confident so I shall leave it at that. Thanks Sent from my iPhone using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
pablodiablo Posted October 28, 2013 Share Posted October 28, 2013 ok so put down large deposit with balance to follow in 30 days job done Link to comment Share on other sites More sharing options...
Jameskrabi Posted October 28, 2013 Author Share Posted October 28, 2013 Just an update for anyone else. Straightforward collect money Friday. Cheers for any advice . Sent from my iPhone using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
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