Bank loan/ mortgage

[Pdavies99]

My Thai Pattaya home is in my Thai wife's name, its worth 6 million +- loan free etc

 

I want to obtain a loan of say 1 million baht against above property for my name village home improvements.

 

Has anyone done this? And is it time consuming etc?

 

Thanks for any advice, but please no usual comments about Thai Wives etc.

 

[Crossy]

YOU won't get a loan against the property, it's not in your name.

 

However your wife should be able to if she can convince the bank she can repay the loan.

 

It can be drawn out, our SCB "construction loan" finally came through when the house was nearly finished, typically Thai.

 

Are you or your wife working?

[Pdavies99]

40 minutes ago, Crossy said:

YOU won't get a loan against the property, it's not in your name.

 

However your wife should be able to if she can convince the bank she can repay the loan.

 

It can be drawn out, our SCB "construction loan" finally came through when the house was nearly finished, typically Thai.

 

Are you or your wife working?

Both retired with pensions in both names, and loan would be in wife's name, of course.

[Crossy]

30 minutes ago, Pdavies99 said:

Both retired with pensions in both names, and loan would be in wife's name, of course.

 

Go and talk to SCB, they have been the most friendly in the past. No warranty implied or inferred.

[Surasak]

We have a business in the wifes name of course. Applied for a loan of 1.5million from ktb. 3 days after making application, 2 people came to inspect property. 1 week later we were invited to the bank to sign the agreement. Wife had to take out a 10 year life insurance for a 5 year loan. No problems at all

[natway09]

As stated  cannot in your name but if wifey is well & has an income more 3 times the loan repayments should

be OK. Pop down & have a chat with your local bank