Funding For Condo In Phuket

[gilliangoucher88]

Hi,

Does anyone know of a company offering a lease/purchase loan scheme for condos in Phuket ?

Thanks

GG

[thaigene2]

Hi GG

Can you confirm you are not working in the property of finance biz? There's been a bit of trolling lately.

There is one company and possibly two doing this. Personally I think lease/purchase is a sucker's game. Using these companies means they place THEIR name as owner on the title deed, and you pay a mortgage they arrange thru a Thai bank - again in their name cause they are a Thai company and therefore are able to buy Thai property. It's all very murky about whether you get the title after the loan is repaid. Meantime they can use "their" property as leverage for other investments. It's got 'pear-shaped' written all over it. Beware.

But PM me if you want the name and I'll send it to you. I'm not going to advertise their name here as I'm sure they would love to see.

[Dragonman]

Hi GG

Can you confirm you are not working in the property of finance biz? There's been a bit of trolling lately.

There is one company and possibly two doing this. Personally I think lease/purchase is a sucker's game. Using these companies means they place THEIR name as owner on the title deed, and you pay a mortgage they arrange thru a Thai bank - again in their name cause they are a Thai company and therefore are able to buy Thai property. It's all very murky about whether you get the title after the loan is repaid. Meantime they can use "their" property as leverage for other investments. It's got 'pear-shaped' written all over it. Beware.

But PM me if you want the name and I'll send it to you. I'm not going to advertise their name here as I'm sure they would love to see.

As well as the dubious legality of lease/purchase, where presumably you really have a lease with option to purchase for nominal amount, I agree with thaigene. The lease is binding with the purchase agreement being a contractual obligation. In other words, despite some adverts saying it cannot be sold without your agreement, if the Company goes through you do not have any purchase rights and no chance of getting any money back. If the price is good for 30 years rental. great. Don't bank on owning anything.

[gilliangoucher88]

They say better late than never ! Yes would really appreciate the name and contact details if you have them but I have taken on board your very pertinent comments.

I can confirm my husband and I live in the UK and just looking for finance to purchase in Phuket for holiday use. Do you think you could possibly reply to [email protected] - many thanks - look forward to hearing from you.

Gill Goucher

Hi GG

Can you confirm you are not working in the property of finance biz? There's been a bit of trolling lately.

There is one company and possibly two doing this. Personally I think lease/purchase is a sucker's game. Using these companies means they place THEIR name as owner on the title deed, and you pay a mortgage they arrange thru a Thai bank - again in their name cause they are a Thai company and therefore are able to buy Thai property. It's all very murky about whether you get the title after the loan is repaid. Meantime they can use "their" property as leverage for other investments. It's got 'pear-shaped' written all over it. Beware.

But PM me if you want the name and I'll send it to you. I'm not going to advertise their name here as I'm sure they would love to see.