Condo Mortage - MBK Group

[SoFarAndNear]

Hi,

I see you can get a a mortgage from "MBK Group" to buy a condo. Someone has any experiences with them?

I thought money to buy a condo has to be come outside of Thailand. How do they do it if you pay your mortgage from money you earned in Thailand?

[mark5335]

I refinanced a mortgage with them earlier this year. Easier to deal with than the banks and quicker also, but higher interest rates. My case is different to yours as the condo is owned by my wife (Thai) and I'm a co-borrower so the issue of bringing money in from overseas was not applicable. They respond quickly to email inquiries so I suggest you ask them directly as they have English speaking staff.

[KhonKaenKowboy]

http://www.mbkg.co.th/en/loan_products/condo_loan/general

50% down, 1-10 years...possibly balloon at end...1.25 points up front..1% at land office....2% prepayment penalty..must buy life insurance....does look legit, at least. What does "Commitment: 2% of non-loan disbursement" mean?