Mortgages

[mareht123]

Available in los for new condo purchase to farangs yet?

[MM]

You can get something like a mortgage here, but it is usually accelerated over what you (or certainly me) might be accustomed to.

[lovedog100]

You can get something like a mortgage here, but it is usually accelerated over what you (or certainly me) might be accustomed to.

Are you talking like 5 years or so?

 

Don't some of the new condo's offer some sort of financing? Seems like I remember that from reading ads.

Edited August 7, 2012 by lovedog100

[jacko]

Are you talking like 5 years or so?

 

Don't some of the new condo's offer some sort of financing? Seems like I remember that from reading ads.

According to some of the adverts yes, financing is available. I even heard 'financing available for foreigners' mentioned on one advert....which seemed redundant since the advert was in English.

[capdagde]

According to some of the adverts yes, financing is available. I even heard 'financing available for foreigners' mentioned on one advert....which seemed redundant since the advert was in English.

 

Haha Jacko. Execkerly. I'm British not foreign!

 

Andy Cap

[mareht123]

Details?

[js007]

Details?

 

Some of the banks in Singapore and Hong Kong used to finance Thai properties for foreigners. Perhaps they still do.

[Grandpollo]

Still, on a 1,000,000 Baht condo that's barely $30,000 so not much of a mortgage should be necessary or too hard to carry.

 

All the Baht bus condo ads certainly promote some form of financing, The ads in PP Weekly are pushing various forms of financing with various forms of down payment.

 

Here is a link to an article from Siam Law in Bangkok about the availability of home and condo mortgages in Thailand:

 

http://www.siam-lega...y-financing.php

 

One example given is HSBC 7 years amortization for 70% loan to value. Other examples seem to route the loan through the Singapore operations of Thai banks.

Edited August 8, 2012 by Grandpollo

[mareht123]

Thank you. Rates look lower than taking out a personal loan un the UK at the moment...not sure I fancy a trip abroad the meeet the bank manager tho lol

[davebuczek]

Some of the banks in Singapore and Hong Kong used to finance Thai properties for foreigners. Perhaps they still do.

 

Yes, they still do, even if you are a foreigner. You just need to prove your income, etc. And I think the max loan to value amount is 70%, but don't remember exactly. I think one of the banks is UOB (but not sure out of Singapore or Hong Kong).

[Obsession]

Just found this rent to own deal. I have no idea about the company.

http://www.expat-condos.com/rent-to-own-a-pattaya-condo.html

[Grandpollo]

Rent to own is a great way to give a landlord 300,000 Baht as rent vs. a proper down payment on a sales agreement for something you then finance and own during the time.