getting a mortgage in Thailand

[oldgent]

Sorry but im sure this subject has been done before. I would like to know the do,s and don't,s of getting a mortgage from a bank in Thailand. if some member has done this can you please share your experience with me. (EXAMPLE; A house costing 2,650,000million, putting down a deposit of 1,000,000 million and borrowing 1,650,000 million. thanks

[FiftyTwo]

Get your wife or gf to buy it.

For a 1.5M loan, she needs

6 months pay slips showing 25k/month, an employer to back up the pay slips.

Mine bought a 1.8M house with 300k deposit, another 50k in expenses, 1.5M loan from SCB.

Very easy.

[happynthailand]

If you have a wife and she works SCB will loan her 80%

wife buys house, you pay mortgage they will loan 50%

[luckylarry]

If you have a wife and she works SCB will loan her 80%

wife buys house, you pay mortgage they will loan 50%

We my wife got a loan to buy a house from SCB used my UK pension as proof of income to cover the loan, ( belive it or not true ) not our first property loan here SCB are great.

[Crossy]

Indeed, SCB do seem to try to help and find solutions where other banks can't be bothered.

As a foreigner you can't get a mortgage, but your wife can, she'll need a job even if you're paying.

We got a construction loan with stage payments to our contractor followed up by a mortgage on the completed house, wifey does work, but my income was taken into account (no idea how they worked out what we could borrow mind).

[oldgent]

thanks to all for your help. one question... Crossy says as a foreigner I cant get a mortgage. but can I get my name on the house say like joint names

same as we can do in the UK?

[Jasun]

Mortgages, credit cards, personal loans and other debt facilities are all available if you meet the criteria. As well as the normal ID requirements and rules with buying a property, you'll need a very solid income and at least a year's tax receipts (some banks ask for more), plus a letter and other documents from your employer. Expect to have a large deposit. As for banks, UOB and HSBC both go through their international divisions. Bangkok Bank used to only do it through its Singapore branch. Of the other local banks I only know of SCB and TMB who offer finance and it's based on high (60-70%) loan ratio, with an amortisation period of no more than 7 years.

Good luck.

[FiftyTwo]

Mortgages, credit cards, personal loans and other debt facilities are all available if you meet the criteria. As well as the normal ID requirements and rules with buying a property, you'll need a very solid income and at least a year's tax receipts (some banks ask for more), plus a letter and other documents from your employer. Expect to have a large deposit. As for banks, UOB and HSBC both go through their international divisions. Bangkok Bank used to only do it through its Singapore branch. Of the other local banks I only know of SCB and TMB who offer finance and it's based on high (60-70%) loan ratio, with an amortisation period of no more than 7 years.

Good luck.

Which is just wrong information,

Your Thai lady (gf/wife) can get a 90% home loan on the flimsiest of documentation for up to 35 years (they don't lend beyond age 65). No tax records required at all.

I should know, I did it last year.

@oldgent

Forget getting your name on anything. More trouble than it's worth.

Edited February 9, 2014 by FiftyTwo

[RAZZELL]

Mortgages, credit cards, personal loans and other debt facilities are all available if you meet the criteria. As well as the normal ID requirements and rules with buying a property, you'll need a very solid income and at least a year's tax receipts (some banks ask for more), plus a letter and other documents from your employer. Expect to have a large deposit. As for banks, UOB and HSBC both go through their international divisions. Bangkok Bank used to only do it through its Singapore branch. Of the other local banks I only know of SCB and TMB who offer finance and it's based on high (60-70%) loan ratio, with an amortisation period of no more than 7 years.

Good luck.

Which is just wrong information,

Your Thai lady (gf/wife) can get a 90% home loan on the flimsiest of documentation for up to 35 years (they don't lend beyond age 65). No tax records required at all.

I should know, I did it last year.

@oldgent

Forget getting your name on anything. More trouble than it's worth.

Who with and what did you show?

RAZZ