Mortgage/secured loans

[147spirit]

Can you advise if a westerner can obtain a mortgage or secured loan against a freehold condominium.

What are the interest rates paid?

Are there private investors who make secured loans around the 6 percent p.a. range?

Appreciate advice on this.

[Condorman]

Yes. The UOB bank can arrange mortgages for foreigners on freehold condominiums sold with the foreign ownership certificate.

 

The loan can be arranged in Thailand but is actually done through their headquarters in Singapore.

 

The foreigner needs to be legally working in Thailand. (Salaried and WP). 

 

If I remember correctly the minimum loan is 3MB. 

 

Google "UOB international property loans" for more information. 

[wjdw]

I was offered 15m with SCB 2 year's ago, either Condo or Landed property with my 'wife' condo separately . 

All comes down to WP - Company (respected large org) - Salary 

 

One thing to NOTE. even for Thai's the interest is massive, and you will likely end up paying double the value over the term and being stuck with a property you can not sell.