Mortgate for an off the plan Condo

[dotpoom]

Banks, and more so Thai banks after the '97 crisis, are good at judging credit worthiness and a person's ability to service their loans. Individuals on the other hand, especially those with a speculative mentality, are poor judges of their own ability to repay loans. They tend to make overly optimistic projections like the amount of bonus/pay rises they can expect.

If her bank, with way more info on her situation (as well as the market overall) than you have, think she is over stretched, then she probably is. Things may yet work out, but that's not really the issue here. The issue seems to be that the OP doesn't think his gf is telling him the truth.

The real question is: do you care enough about her and the future of your relationship to spend 500k baht to find out what she's made of? Should you trust your hopes, or your fears?

T

How true,

I once applied to a bank for a loan to buy a pub back home when my country was in a "boom" period. I had plenty of credit worthiness and my own business but because I had no experience at running a pub they turned me down. I cursed then for a long time afterwards. Then one day, like I had some king of conscience awakening or something, it suddenly dawned on me that maybe the bank had my best interests at heart and I should be taking their professional advice instead of cursing them.

To this day I thank God that they had refused me...had they have given it to me (as I look back over those years) it would have been the ruination of my life and I would have been a prisoner of a financial debt that I would have found very difficult to cope with. Plus the "bust" period came about 4 years later.

Instead now, I have had the 12 greatest years of my life living here in the LOS.

[akentryan]

I have loaned money to Thai family members on 4 occasions and always got the money back. Even got an extra 10% tacked on to one repayment as a "thank you." Also have made one loan to a Muslim family across the street who were in danger of losing their home - also got paid back. One other factor is how is she going to make the payments on the new condo? Maybe you will be asked to help? This has "the buffalo died' written all over it.

[hhgz]

"Just wondering if anyone could help me out with this question.."

This isn't exactly cracking the atom. She's Thai, and she knows how and where to get money. She wants you to pay for her life.

[shirtless]

to determine her true financial position would be prudent , ask her for bank statement showing these alleged funds held in account , ownership papers on car and chanote for condo, if she falters on this you know you have been fed lies for the duration of your relationship.loan denied.

[Mister T]

I have loaned money to various Thais over the years, ฿10k was the biggest to a Thai colleague. Others were to family and extended family, from ฿500 to ฿2000. I have never got any of it back, old story, only lend money with the understanding it is gone. She wants ฿500k in her bank to prove she has money, I call crap, she needs to show regular proven income for a bank loan.

[abrahamzvi]

Dude, never loan money to a Thai. You will never see the cash again.

What a stupid and arrogant generalisation. My own experience is far more positive with Thais than with some countrymen of mine!

[grahamxxx]

Thanks for all replies and feedback...this girl is slightly different from the rest I have known,and yes I know all about "my girl is different stories" but her previous job that she lost was for an international company importing to Thailand and she was the conduit for these transactions and travelled overseas for many months,and was getting paid $300 US per day for this.She even has a photo of herself in a private Helicopter that the compamy charted for her in France to get quickly from one town to another.

She has been to Sydney twice now with me and is quite close with my family,and gave support to me when my father died of cancer a year ago,so I don't want to be hard on her,but too many red flags are going up.

Prior to my initial post, I had been in touch with Sunbelt Asia and advised them of my situation,and they said send her in to see us as the first counsultation is free and we will work out a price for arranging security on this loan.

When I told her that I needed security, I got the old " why don't you trust me"..."you know me for a long time,why involve a third party?"

Anyway,i'm sticking to my guns on this...no security,no loan.She's now texting me as I type,saying she called Sunbelt Asia 5 days ago and they are not returning her calls...Hmmm

[belg]

just wondering, how did she get all this wealth, previous boyfriends and now asking you for only 500.000 baht ... what do you get in return ? nookie ?

[trogers]

She lost her high flying job! And for a girl who is used to riding in copters, she can live on Bt15,000 a month after expenses and mortgage payments?

[Neeranam]

Dude, never loan money to a Thai. You will never see the cash again.

Racist nonsense, I have a few times and got it back.

[grahamxxx]

She lost her high flying job! And for a girl who is used to riding in copters, she can live on Bt15,000 a month after expenses and mortgage payments?

Well the chopper thing was only a "one off" but she does receive rental from her first condo which obviously helps out repayment wise

[apalink_thailand]

Two questions.

1 has this woman ever given you reason not to trust her?

2 what is her credit card debt like? It sounds like she likes to shop.

Sent from my iPad using Thaivisa Connect Thailand

[dksharron]

If she can afford one house and one car payment, she should keep them up until paid for.

She should not ask others for a second house.

She found a way to pay for these, and can find a way to pay for the condo on her own as well.

The bank has not tuned her down yet, and she is already asking you for money ?????

I think it is in your bes interests to tell her hat she is an adult, and that this is Thailand , her country, and she will be able to find a way t do it on her own.