My Thai gf wishes to obtain a bank loan, ideally she would obtain 1.3 million, but 400,000 would be minimum needed.  The purpose of the loan is to pay transfer fees for a condo purchase.  Presently, she earns 45,000 THB a month from her job and rental income. She also just finished paying off a private home loan for 1.5 million (this property is rented and contributes to the 45,000 monthly income).   An existing property loan through KBank of 1 million, with monthly payments of 9,000. With the transfer of the property, her monthly income would increase to 80,000 a month, before expenses.  Never late with loan payments. Paid off student loans on time. Fairly meager savings inthe bank, because she is just starting to save, as opposed to paying student and past property loans.  According to the credit check conducted by KBank, she is a dependable and not a risk. She has no Thai co-signer. However, KBank, will only lend 100,000 over a 3 year term, which seems pointless.  The bank officers at the KBank branch offer no explanation for their decision.

 

Which banks are the most open to making a home loan to Thais?  

 

Thanks to anyone who has a suggestion.

Why not approach Kbank since she already has a record with them? Mortgage loan and not a personal loan.

Edited December 5, 20169 yr by trogers

I thought transfer fees were 2%, sometimes shared between buyer a seller. Even if she was paying the full 2% its a fairly large value of say 20 million baht condo. I suppose one question that the bank might pose is if she needs 400K for the transfer fee, where is the 20 million purchase funds coming from.

 

On most bank websites it gives some general rules of thumbs for bank borrowing, although obviiosuly every case is different.

58 minutes ago, smutcakes said:

I thought transfer fees were 2%, sometimes shared between buyer a seller. Even if she was paying the full 2% its a fairly large value of say 20 million baht condo. I suppose one question that the bank might pose is if she needs 400K for the transfer fee, where is the 20 million purchase funds coming from.

 

On most bank websites it gives some general rules of thumbs for bank borrowing, although obviiosuly every case is different.

 

Her existing property of one million can be re-mortgaged. What she will do with the money would not concern the bank. But, if she seeks another mortgage for the new property, her total debt load will be subjected for review.

"Which banks are the easiest to lend money to Thais?"

 

He asked a bunch of foreigners 

for some strange reason, the words "scientist" and "rocket" are not in my immediate thoughts

 

 

Just take all the paperwork and go ask every bank. Take the best deal/offer.

Everybodies situation is different and I doubt farangs would have a concrete answer for you

If she is Muslim the bank of Islam. My Muslim neighbors bought their house and then missed the first 6 payments. My wife, now deceased loaned them the money for the payments in arrears for 90 days, No interest of course. At the end of 90 days they didn't want to pay us back. My wife died Jan 2, 2015 and two weeks ago the same Muslim family asked me if they could borrow money to catch up their payments again. I declined. The 400,000 for transfer fees in this case seems a bit high unless you mean down payment and transfer fees?

YOU!

sounds like your not the first farang boyfriend there 

 

Which banks are the most open to making a home loan to Thais?

 

i would guess all thai banks are open to lending to thais, assuming the borrower meets the criteria for the loan. i'm sure the same would be true of banks in most countries.

1 hour ago, grumbleweed said:

"Which banks are the easiest to lend money to Thais?"

 

He asked a bunch of foreigners 

for some strange reason, the words "scientist" and "rocket" are not in my immediate thoughts

 

 

I don't speak Thai...and since most people on this forum have connections to Thais, I thought it reasonable...and of course, you have no answer, only a troll post...the words "dip" and "shit" come immediately to mind

20 minutes ago, catman20 said:

sounds like your not the first farang boyfriend there 

no...i'm the first...but I don't lend money to anyone in thailand, even people i have known for some time...but really, what's the point of just sniping?  this is how you spend your day?

14 minutes ago, samsensam said:

 

Which banks are the most open to making a home loan to Thais?

 

i would guess all thai banks are open to lending to thais, assuming the borrower meets the criteria for the loan. i'm sure the same would be true of banks in most countries.

i think you are right...but in my experience here, there really is no system in place for most conventional transactions...a few years ago, i myself borrowed several million baht from a bank...the manager only asked for a brown envelope with a "tip" and a copy of my passport...and six weeks later i had a loan...my gf wishes to do the transaction honestly but she is finding that there is little consistency...rather than her spending weeks going from bank to bank, i thought tv members might have an idea...

23 hours ago, smutcakes said:

I thought transfer fees were 2%, sometimes shared between buyer a seller. Even if she was paying the full 2% its a fairly large value of say 20 million baht condo. I suppose one question that the bank might pose is if she needs 400K for the transfer fee, where is the 20 million purchase funds coming from.

 

On most bank websites it gives some general rules of thumbs for bank borrowing, although obviiosuly every case is different.

I was given different information from an attorney about transfer fees and such...my gf called the land office in bkk, and was quoted 6%, which seemed simply too high...to be honest, i place my faith in an experienced westerner rather than a thai, so thank you so much for the information...i will pass it along...

1 hour ago, akentryan said:

If she is Muslim the bank of Islam. My Muslim neighbors bought their house and then missed the first 6 payments. My wife, now deceased loaned them the money for the payments in arrears for 90 days, No interest of course. At the end of 90 days they didn't want to pay us back. My wife died Jan 2, 2015 and two weeks ago the same Muslim family asked me if they could borrow money to catch up their payments again. I declined. The 400,000 for transfer fees in this case seems a bit high unless you mean down payment and transfer fees?

Thank you for the help...there is a Bank of Islam near me, so I will direct her there as well...I'm so sorry that your wife died and you had to deal with a tangle of debts during the time when you should be positively regaining a foothold on your life...hope all is better now.

22 hours ago, trogers said:

 

Her existing property of one million can be re-mortgaged. What she will do with the money would not concern the bank. But, if she seeks another mortgage for the new property, her total debt load will be subjected for review.

i do not speak thai, and i have no real thai friends or associates...occassionally, i seek council of an attorney...when i asked him, he stated that most banks don't care much about properties as collateral, because the banks here already own so many properties due to bad loans...she got the same answer from the local scb branch...your comment coincides with another piece of advice here, so i tend to think your advice is the best option...this is how most people in the west secure loans...but she hasn't had that experience with the 2 banks she approached so far...thanks for taking the time to offer some guidance...it's really appreciated.

my long time gf has tried to increase the loan on her house a couple times.  supposedly the value has gone up (in buriram city, not the 'village' areas) but they won't increase the loan.  gone through several banks.  she makes 30,000/mo (she is a nurse in buriram) and her house payment is only 2,500/mo.  one would think she could afford 5,000/mo for a loan but the banks keep saying no.  i have a feeling they prefer to loan on new homes or condos where they provided the construction financing.  maybe you can find out which bank provided the construction financing for the condo she wants to buy (assuming it is new construction).

 

two things, (i) i'm having trouble following your comments on how she goes from 45,000 to 80,000/mo.  are you saying she is going to buy a condo, rent it, and get 35,000/mo from it ? (ii) i have a feeling the banks here in thailand view 'certain people' different.  as an example, a government employee that earns 20,000/mo could likely qualify for a higher loan than a 'non government' employee that earns 40,000.  it can be very frustrating. 

I would search family and friends for connections... but she sure seems to qualify - - I would make sure to go in with not just a statement of earnings but a statement of net worth as well and be ready to offer some of her assets as security... good luck. 

 

Bankers are usually limited in imagination. Keep it simple, keep it numerical. 

5 hours ago, hdkane said:

no...i'm the first...but I don't lend money to anyone in thailand, even people i have known for some time...but really, what's the point of just sniping?  this is how you spend your day?

how i spend my day, is by not believing everything i am told, obviously you do listen and believe everything  you are told. 

sounds to me a lot of us hit a nerve with the OP