Wife Getting a Home Loan Issues

[paddyjenkins]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

[ericthai]

First, you said women always win in divorce in Thailand and falang lose. This is not correct. it is split 50/50 and i know several expats that have received their 50% and received more.

As for your wife getting a loan. My wife owns a small shop. It is registered and she does pay taxes. She has owned the shop for about 4-5 years now and the bank is always asking her if she wants to borrow money. she deposits money everyday, so i would listen to what you are being told and get her to deposit money. She dont need to have any employees. My wife has one employee but that employee only works 6-7 days a month, just the the days my wife wants to take a day off and the days she goes to bangkok to purchase more inventory.

[hhgz]

"Would a bank take it seriously that she is employed by a company she owns, after it has been trading for only 6 months as a new identity. ??"

Since the bank suggested it, I'm going with "yes". Let's assume that you're the bank (you know you are, and are unwilling to admit it), and a person who has no income, no savings, and no collateral approached you for a loan, what are you likely to say? Exactly. Too, since you're in a relationship with her, how do you expect her to pay for everything she wants? Exactly.

[georgemandm]

I was earning good under the table money, but my partner had a job with a salary but the salary was too low. We went to 5 banks none would give us a loan. The last bank kasikorn bank. Gave us the loan in both our names. The house is in both names, but the land is in my partners name. We have never missed a payment and will be finished our mortgage in 2 years.

I am forever grateful to that bank for giving us a chance when nobody else would give a loan to a foreigner with no work permit.

Give them a try. They fixed everything for us

So here you are on this forum tell us you was earning under the table money in thailand what a joke you are that is why it is very hard to get a visa in thailand because of dick heads like you

[jacko45k]

I would not take advice from the dealer, guess he just might want to sell cars.

Going into debt is taken lightly here, rather a live for today attitude.

I am more old fashioned and try to avoid debt.

I would say try to get a home loan, demonstrating her suitability by developing some savings. Perhaps you could give a little more money each month, rather than the $30k, and get her to deposit it in a bank. If she takes it out and spends it on something else, lesson learned.

[ozyjon]

If anyone has the memory of an elephant and can remember

a post from last year where a fellow set up a bank account in

Hong Kong and and told the wifey the mortgage was obtained there

and set it up that way and monthly payments were sent from

Hong Kong to Thailand, if anyone can find it i would love to

read it again.

[greenchair]

I was earning good under the table money, but my partner had a job with a salary but the salary was too low. We went to 5 banks none would give us a loan. The last bank kasikorn bank. Gave us the loan in both our names. The house is in both names, but the land is in my partners name. We have never missed a payment and will be finished our mortgage in 2 years.

I am forever grateful to that bank for giving us a chance when nobody else would give a loan to a foreigner with no work permit.

Give them a try. They fixed everything for us

So here you are on this forum tell us you was earning under the table money in thailand what a joke you are that is why it is very hard to get a visa in thailand because of dick heads like you

I use that money to raise and pay for the education of thai whose parents have not seen since 3 months old. That child speaks 4 languages and is top in all subjects at school.

That child would have been in an orphanage and probably screwed up the before the age of consent.

That child would have ended up in some bar screwing picks like you. Now if I have to do a little English tutoring to provide a home and education towards a fair start in life to the little one, I have no shame.

There are many reasons why visa have become difficult. It is certainly not because of me.

They do not want people on tourist visa for years. I am not on a tourist visa.

What have you ever done for this country other than take advantage of it for your own selfish gains.

This man wants to provide a home for a lady who might otherwise be in the streets 15 years from now. Bless im. So shut your big???? until you know what you are talking about. ????

[Soutpeel]

Have you seen the interest rates banks charge for home loans, very very high. You would have to be very skint to have to use a bank loan here. They basically rob you.

Mine is 6.87%, not an unreasonable amount IMHO.

Yeap hence the reason I questioned inzmans comments and it appears he is pulling his comments out of his bottom

[2fishin2]

Sorry, let me be more clearer, if she was to go through all the hassle of setting up a company, formally employer the workers, she would also want to expand things a bit to help cove the new cost. That is fine.

My question is this. Would a bank take it seriously that she is employed by a company she owns, after it has been trading for only 6 months as a new identity. ??

YES! But make sure you have bank books which document monthly income. If you have a company or business its 101.

[2fishin2]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

HUH? Of course they are, that's how mortgages with lending institutions work! What rock do you live under?

[paddyjenkins]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

HUH? Of course they are, that's how mortgages with lending institutions work! What rock do you live under?

Idiot, I'm talking about the chanotes for her other properties. Next time think about whats been posted before you open your stupid mouth.

[2fishin2]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

HUH? Of course they are, that's how mortgages with lending institutions work! What rock do you live under?

Idiot, I'm talking about the chanotes for her other properties. Next time think about whats been posted before you open your stupid mouth.

HUH? First off, Where in the OP does it say the bank has her "notes?" But again thats how banks lend money, with collateral. No bank is going to loan money without it! And for a mortgage, a bank will ALWAYS keep the note until the mortgage is paid off. That's the way it all works. Been like that since dinosaurs walked the earth.

But I digress, I have a stupid mouth. SMH

[paddyjenkins]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

HUH? Of course they are, that's how mortgages with lending institutions work! What rock do you live under?

Idiot, I'm talking about the chanotes for her other properties. Next time think about whats been posted before you open your stupid mouth.

HUH? First off, Where in the OP does it say the bank has her "notes?" But again thats how banks lend money, with collateral. No bank is going to loan money without it! And for a mortgage, a bank will ALWAYS keep the note until the mortgage is paid off. That's the way it all works. Been like that since dinosaurs walked the earth.

But I digress, I have a stupid mouth. SMH

HUH....HUH....HUH.....what are you, a f******g seal? Well, whatever, you're definitely a dim wit, do you still not understand what i wrote?

[2fishin2]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

HUH? Of course they are, that's how mortgages with lending institutions work! What rock do you live under?

Idiot, I'm talking about the chanotes for her other properties. Next time think about whats been posted before you open your stupid mouth.

HUH? First off, Where in the OP does it say the bank has her "notes?" But again thats how banks lend money, with collateral. No bank is going to loan money without it! And for a mortgage, a bank will ALWAYS keep the note until the mortgage is paid off. That's the way it all works. Been like that since dinosaurs walked the earth.

But I digress, I have a stupid mouth. SMH

HUH....HUH....HUH.....what are you, a f******g seal? Well, whatever, you're definitely a dim wit, do you still not understand what i wrote?

What?

Ok smartie pants where in the OP did it at all say the bank had her chanotes????? Please answer that for me.

And after you answer that, what part of its normal and standard operating procedure for a bank to hold notes, land titles, whatever you want to call them when loaning such substantial amounts of money dont you understand? Heck they might even put liens on cars, businesses, a cosigner's house. ITS WHAT BANKS DO! Nothing wrong with it. That way if someone defaults on the loan, the bank can recoup "some" of its loss.

Not everybody has access to millions of baht in cash.

[AnotherOneAmerican]

Just moved into new house today financed by a 103% mortgage to my Thai GF. She had a small cash business. Showed six months of monthly statements backed up by bank deposits of profits. They also look at bank balances so I gave her 300,000 baht to split between two accounts. One bank rejected the loan and another accepted. She also had rental income from a farm and house in Issan. I was not asked to guarantee the mortgage. Loan amount was 3.2 million.

And guess what...the chanote for her land and house are with the bank....they would not be lending without collateral and its why thais lose their land and homes all the time...

HUH? Of course they are, that's how mortgages with lending institutions work! What rock do you live under?

Idiot, I'm talking about the chanotes for her other properties. Next time think about whats been posted before you open your stupid mouth.

I have a farmhouse, some fields on separate chanotes owned outright by me.

I have a house in CM with a home loan (85%).

The bank took photocopies of all my chanotes, car book, m/c book. but I still have them, not the bank.

Sounds like you gfs bank is operating differently to BKB or SCB, or you are being fed some disinformation.

Whenever I hear information from a foreigner, essentially different to stuff I have done myself, my first thought is gf/wife with an agenda.

I'm probably wrong, I freely admit to being paranoid as hell.

Edited January 31, 2015 by AnotherOneAmerican

[Rajhulmaheesh]

Dont do it! Just give your wife the $30,000 and let her handle things. You havent said why buying a $120,000 house will be to your benefit.

Or just say you very happpy with renting. Your wifes reaction might open your eyes. Sorry but your situatiuon screams gold0digger.

PS. op im even more concerned you aremarried to a thai tax cheat. If a girls will cheat her own govt she will certainly have you in her MIND.

Edited February 1, 2015 by Rajhulmaheesh

[konying]

Dont do it! Just give your wife the $30,000 and let her handle things. You havent said why buying a $120,000 house will be to your benefit.

Or just say you very happpy with renting. Your wifes reaction might open your eyes. Sorry but your situatiuon screams gold0digger.

PS. op im even more concerned you aremarried to a thai tax cheat. If a girls will cheat her own govt she will certainly have you in her MIND.

Who does not cheat tax office ohh holy one

[hellstens]

A house for one million! wow where do you find that? in UdonThani or in some nice forest, fare from a town.lol ten year ago maybe, to day, haha good luck!