Are Thai Mortgages Amortized?

[inthepink]

I have been given a quote for a mortgage and I can't make sense of the figures. Based on standard amortized loan calculations, the monthly repayments are roughly 10% higher than i would have expected. They don't use simple interest loans for mortgages in Thailand do they?

Any help would be much appreciated.

Cheers

[inthepink]

I'll answer my own question - Yes they are amortized but instead of adjusting the monthly repayments whenever interest rates change, the potential length of the loan will change instead (at least that's how Bangkok Bank seem to work).

[fletchsmile]

When we had a mortgage the interest was calculated daily on the outstanding daily balance.

I had a spreadsheet and could get the same number. Any early payment was free and reduced the balance outstanding there and then.

All pretty much same as home country.

Paid it off early no penalty either.

Check the terms and conditions of your mortgage for fees and ask for a print out with the interest calcs.

They may possibly have added in various fees and expenses to your principal amount.

Cheers Fletch

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