Need Help From Experts With Buying Condo

[pansted00]

I am french, living in Thailand for over 10 years, working as an expat, with WP, in a BOI promoted Company . I am married to a Thai wife.

I want to buy a condo ( 15 to 20 Million range) on which I could make a 25% downpayment.

I am ready to make monthly installments on a mortgage of 100,000 THb ( amount of my current monthly rent).

My question is : will any local bank give me mortgage for the 75% ?

[Livinginexile]

I am french, living in Thailand for over 10 years, working as an expat, with WP, in a BOI promoted Company . I am married to a Thai wife.

I want to buy a condo ( 15 to 20 Million range) on which I could make a 25% downpayment.

I am ready to make monthly installments on a mortgage of 100,000 THb ( amount of my current monthly rent).

My question is : will any local bank give me mortgage for the 75% ?

Hi there

I'm not 100% sure of the details but I believe the Bangkok Bank is offering mortgages to foreigners through their Singapore branch. I think you need colateral in Thailand to borrow against.

[dsfbrit]

Its a changing and messy situation it appears.

There are several good recent threads on this - this is one.

You will see that experiences are mixed - good luck!!!

http://www.thaivisa.com/forum/index.php?showtopic=88871

[quiksilva]

Central Bank ruled last year that all properties valued at >10M Baht can only be leveraged to 70%. Either save a bit more or aim a bit lower.

As for actually getting a mortgage, get one in wifey's name, act as her guarantor. Try speaking to UOB they might be more expensive, but I found them to be a little more open minded than many of the local banks.

[ZZZ]

If you buy the condo in your name all the 25mil Bath must come from outside Thailand.

Anyone knows how this work if you get a morgage?