williamgeorgeallen Posted March 8, 2016 Share Posted March 8, 2016 It is a win-win program for the two banks. Does it apply to foreigners? ha ha, for us to get it we need to buy in our thai girlfriends names. yes there are some people out there that stupid. Link to comment Share on other sites More sharing options...
lostinisaan Posted March 8, 2016 Share Posted March 8, 2016 Loan applicants must be first-time buyers of homes not exceeding 1.5 million baht, Somchai Sujjapongse, permanent secretary of the Finance Ministry, told reporters. Southeast Asia's second-largest economy is struggling to gain a strong footing almost two years after the army took over. It's in everybody's interest that foreigners will have first priority and even expats without an income may apply.There's only one rule that might not be in favor of all (s)expats to have a free and new house. A foreigner, also called "Alien" must be at least 69 years old and both parents have to witness in person that the money is given to them without any interest. Thumbs up for Thailand.- Link to comment Share on other sites More sharing options...
casualbiker Posted March 8, 2016 Share Posted March 8, 2016 This is just an ongoing scheme.. Every few years there's a deal or program for first time home buyers.. Last time it was upto 3 million and aimed more at the middle income workers.. This one is for the lower income workers, probably linked to the ongoing housing association estate building. Link to comment Share on other sites More sharing options...
BuriramDevelopers Posted March 8, 2016 Share Posted March 8, 2016 So how much debt does that leave them afterwards?... Wise up. Why is themarket stagnating. At least you can't blame the Thais for this, because 'smarter' governments are doing the same Link to comment Share on other sites More sharing options...
Strangebrew Posted March 8, 2016 Share Posted March 8, 2016 Want to boost economy create jobs that pay well higher pay more cash to spend with less debt to pay off more cash to save to buy that house you want. OOPS sorry didn't figure in Thai logic here we loan you 1.5 million baht to buy that mudhut of your dreams. No worries no money or job to pay back loan we come back take it all back and start over again. Link to comment Share on other sites More sharing options...
daiwill60 Posted March 8, 2016 Share Posted March 8, 2016 It seems the quote about failing to learn from history's mistakes etc has never reached LoS. They don't teach real history in Thai schools !!! Link to comment Share on other sites More sharing options...
elgordo38 Posted March 8, 2016 Share Posted March 8, 2016 I don't know if there are as many unsold, empty condos in the rest of the country but this might help fill some of the ones in Chiang Mai. I don't see how that would stimulate the economy though. I hope it works out better than the first car scheme. Yes sell the condo's to rice farmers they could grow rice on their balconies. If the banks administer this it must a loan with interest attached so I fail to see the bargain. My g/f has a plot of land she would like to build a house on I wonder what the terms and conditions are. No specifics here. Link to comment Share on other sites More sharing options...
daiwill60 Posted March 8, 2016 Share Posted March 8, 2016 It is a win-win program for the two banks. Does it apply to foreigners? ha ha, for us to get it we need to buy in our thai girlfriends names. yes there are some people out there that stupid. The way I see this situation is. Firstly , I think you actually have to be married anyway. But, putting that aside for a minute, why is it so stupid to do this? If say the Farang ATM puts a small amount into this deal as a down payment, then maintains further monthly payments and the house is in the name of the wife/gf, then as long as the home remains "home sweet home" for the pair, then no problems. On the other hand , if things go tits up and depending how long would be left on the term of the loan when/if things did go sour, the house still belongs to the bank, and both parties could walk away with nothing to show for the years (or maybe months in some cases) of payments they have made on the house. The house debt would still be in her name not the farang's, so he could just walk away I guess and leave her to carry on the payments alone or walk off in another direction. The only time a problem could occur would be at the end of the loan period when all payments are made and it is time to transfer the deeds , which of course then would be in the wife's/gf's name. I think by the time this period has come. you should be able to reliably realise if she is likely to do a dirty on you or whether you can trust her. But then again TIT, so who knows? Link to comment Share on other sites More sharing options...
SoilSpoil Posted March 8, 2016 Share Posted March 8, 2016 What can you buy for 1.5 mil? Building a cheap house on land you already own will set you for more than that. This program must be for the 1 bedroom condo market which makes a lousy investment in my opinion. Link to comment Share on other sites More sharing options...
ericnoodeeka Posted March 8, 2016 Share Posted March 8, 2016 It is a win-win program for the two banks. Does it apply to foreigners? ha ha, for us to get it we need to buy in our thai girlfriends names. yes there are some people out there that stupid. The way I see this situation is. Firstly , I think you actually have to be married anyway. But, putting that aside for a minute, why is it so stupid to do this? If say the Farang ATM puts a small amount into this deal as a down payment, then maintains further monthly payments and the house is in the name of the wife/gf, then as long as the home remains "home sweet home" for the pair, then no problems. On the other hand , if things go tits up and depending how long would be left on the term of the loan when/if things did go sour, the house still belongs to the bank, and both parties could walk away with nothing to show for the years (or maybe months in some cases) of payments they have made on the house. The house debt would still be in her name not the farang's, so he could just walk away I guess and leave her to carry on the payments alone or walk off in another direction. The only time a problem could occur would be at the end of the loan period when all payments are made and it is time to transfer the deeds , which of course then would be in the wife's/gf's name. I think by the time this period has come. you should be able to reliably realise if she is likely to do a dirty on you or whether you can trust her. But then again TIT, so who knows? best reply i ever read on here and is exactly what i did, been married 8 year so hopefully no worries, but i did cover my arse. Link to comment Share on other sites More sharing options...
chainarong Posted March 8, 2016 Share Posted March 8, 2016 This is certainly not the answer for first home buyers , if you needed a government hand out to buy a house you certainly cannot afford one and as shown with the same Howard government's Policy in Australia, now most of the recipients of a similar scheme are in mortgage stress, the emphasis should be on more jobs, better working conditions and higher pay rates in line with the inflation rate, you can't expect people to buy houses and receive the same pay packet they got back in 1995, of course upping the pay rate you won't attract international companies ,the question is what do you want. ................................... Link to comment Share on other sites More sharing options...
williamgeorgeallen Posted March 8, 2016 Share Posted March 8, 2016 It is a win-win program for the two banks. Does it apply to foreigners? ha ha, for us to get it we need to buy in our thai girlfriends names. yes there are some people out there that stupid. The way I see this situation is. Firstly , I think you actually have to be married anyway. But, putting that aside for a minute, why is it so stupid to do this? If say the Farang ATM puts a small amount into this deal as a down payment, then maintains further monthly payments and the house is in the name of the wife/gf, then as long as the home remains "home sweet home" for the pair, then no problems. On the other hand , if things go tits up and depending how long would be left on the term of the loan when/if things did go sour, the house still belongs to the bank, and both parties could walk away with nothing to show for the years (or maybe months in some cases) of payments they have made on the house. The house debt would still be in her name not the farang's, so he could just walk away I guess and leave her to carry on the payments alone or walk off in another direction. The only time a problem could occur would be at the end of the loan period when all payments are made and it is time to transfer the deeds , which of course then would be in the wife's/gf's name. I think by the time this period has come. you should be able to reliably realise if she is likely to do a dirty on you or whether you can trust her. But then again TIT, so who knows? all good points and i would agree that if you are going to buy a house with your tirak then doing it with a small deposit over a long time frame is the best idea. in all honesty i think getting married is a mistake, i have done it twice and i dont know why i did it and why any guy would. secondly i think buying property in thailand is a mistake. again i have done this 3 times and i now firmly believe that it is better to rent everything. Link to comment Share on other sites More sharing options...
Jonmarleesco Posted March 8, 2016 Share Posted March 8, 2016 This will be another money pit.Thais fail to budget and keeping up with the Jones is all the rage I doubt they know too many Joneses. Link to comment Share on other sites More sharing options...
casualbiker Posted March 8, 2016 Share Posted March 8, 2016 What can you buy for 1.5 mil? Building a cheap house on land you already own will set you for more than that. This program must be for the 1 bedroom condo market which makes a lousy investment in my opinion. There are many suburban housing estates from about 1.29 million up. For that money you get a pretty basic 2½-3 bedroom townhouse. I rented one for a few years.. Happy to be out and renting a 3.5 million baht house now.. But it was certainly better than an apartment! Link to comment Share on other sites More sharing options...
daiwill60 Posted March 8, 2016 Share Posted March 8, 2016 (edited) I don't know if there are as many unsold, empty condos in the rest of the country but this might help fill some of the ones in Chiang Mai. I don't see how that would stimulate the economy though. I hope it works out better than the first car scheme. Yes sell the condo's to rice farmers they could grow rice on their balconies. If the banks administer this it must a loan with interest attached so I fail to see the bargain. My g/f has a plot of land she would like to build a house on I wonder what the terms and conditions are. No specifics here. Loads. Many apts being built at the moment and have been doing so since I moved to Rayong ( same in Mahasarakham when I left there, and same within 100 kms either direction of here in Rayong ). Many houses currently being built on large estates and many condo areas. Many desolate, overgrown empty condos and estates going back to the last SE Asian boom and bust period too. I don't get it to be honest. Edited March 8, 2016 by daiwill60 Link to comment Share on other sites More sharing options...
fulhamboy Posted November 6, 2017 Share Posted November 6, 2017 hello My tgf and myself are thinking of buying a half of ria near dolphin bay, in her name ! after a discussion with people who have lived here longer they kept quoting you need shulok shimlok ? to guarantee right of claim ? or you never own it, something like that maybe even shylock from the western sorry had a few beers, tgf gone to bed she not much help Link to comment Share on other sites More sharing options...
blackcab Posted November 6, 2017 Share Posted November 6, 2017 (edited) You just zombied a 1.5 year old thread. Edited November 6, 2017 by blackcab Link to comment Share on other sites More sharing options...
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