Mortgage on land when living overseas

[Boo]

Has anyone/s thai partner successfully managed to get a loan or mortgage on Chanote land when living overseas?

And if yes, with what banks.

Many thanks for all info received

Boo

[recycler]

Depending on where you live it may be cheaper to finance from where you live and have an income. Interest rates are high in Thailand, 7% or up for mortgages and personal loans are 15% and up.

If you have no income in Thailand it may be very difficult to get any loan here, most banks require income in a Thai name, even living in Thailand with a good credit history it gets increasingly difficult to borrow money if the income is in a foreign name.

[PattayaPhom]

Depending on where you live it may be cheaper to finance from where you live and have an income. Interest rates are high in Thailand, 7% or up for mortgages and personal loans are 15% and up.

If you have no income in Thailand it may be very difficult to get any loan here, most banks require income in a Thai name, even living in Thailand with a good credit history it gets increasingly difficult to borrow money if the income is in a foreign name.

I believe Boo's partner is a Thai National. Yes rates here are very high compared to most other countries, MMR starts about 7% and secured loans 10%.

Experience has shown that most lending institutions require tax payments within Thailand from either the owner of land or a "Gaurantor". So a working Thai National or Foreigner with WP.

UOB seems to be the most relaxed regarding criteria.

Other option of course is a money lender at rates of 1.5% per month with a lenient attached to the Chanote with contract. Most likely any options would require the Thai owner to be present in Thailand for signing or at least POA for someone on their behalf.

[Boo]

^{That's great information, thank you both.}

^{Yes Mr Boo is a Thai national but we have lived in UK for past 11 years so are not up to date with mortgage rates etc.}

^{This is very informative but we will likely just sell the land instead as it seems to be very expensive to mortgage in Thailand.}