Mortgage Options For Thai Citizens

[SeanBangkok]

Hello,

What mortgage options are available for those who are willing to put a home in the name of a thai spouse? Do they have 30 yr mortgages in Thailand? What are the current interest rates? Thank You.

[dvk1951]

I have seen adverts from banking institutions such as K Bank but have no idea what the terms and conditions are.

You might start out by going to your local branch and asking.

[Heng]

Longest term I've heard of is 15 years. MLR is hovering around 7.75% (posted publicly at most bank branches). Easier to get a loan for borrowers if they are buying new homes. Second hand properties a bit more difficult. You need about twice the monthly income of what one's expected monthly mortgage payment is. It'll all vary just a bit from bank to bank, but that's probably along the lines of what most folks run into.

[SeanBangkok]

Im looking at BangkokBank's fixed mortgage rates now. On a 5 million baht loan, the juice is 8% over 30 years, 10% over 20 years, and 8% over 10 years. Not too ideal in comparison to the 5.5% lending rate in some Western countries.

I guess I am going to be paying out money to my landlord every month with nothing to show.

[jbowman1993]

My wife (and I) have a 20 year morgage on a 5 mil house from Land and House developers. Interest rate is around 4%, as I recall, from Siam Commercial Bank. First year was 2.5%, then increased afterward.

[jbowman1993]

Turns out I recalled wrong. Our rate is actually 6.1%. I had to look it up. Sorry!