Mortage in Thailand

Legal issues related to buying land, houses, condos in the LOS. Anything about contracts. Finance related, such as getting a mortgage, buying property from the bank, etc.

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geordie
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Joined: Sun Oct 12, 2008 4:39 am

Re: Mortage in Thailand

Post by geordie »

O so true i thought when i saw your name here it was about to be a reprimand ?? the posts supposed to be about morgages maybe MGV12 could relocate the building discusion which seems to be developing
And of course rename = Building half a house in Thailand ?? :lol: :lol: :lol: :lol:
my comments may be wrong but never deliberately
If it aint broke, dont fix it
guilt
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Joined: Mon Aug 08, 2011 10:27 am

Re: Mortage in Thailand

Post by guilt »

@ geordie ...

Thanks for you fullfilling info.. But I can't jack the house up. It's already done with casted pillars in concrete. But I will try to do more improvements here and there, til I can get a loan to do a modern 2 storey home. :P
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geordie
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Joined: Sun Oct 12, 2008 4:39 am

Re: Mortage in Thailand

Post by geordie »

guilt wrote:@ geordie ...

Thanks for you fullfilling info.. But I can't jack the house up. It's already done with casted pillars in concrete. But I will try to do more improvements here and there, til I can get a loan to do a modern 2 storey home. :P
In that case all you need to do is a survey to see what you can do to redesign and modernise what you have there
with the possibility you may be able to extend the house making it bigger get someone to dig down to the footings and see if they are ok ? try and find out what rebar and how many in the colums
Do the colums extend to the top floor ? Is the house built with a standard 12x12=4mtrx4mtr grid
Refurbishing an existing concrete frame can give you a totally new outlook without huge costs
and comfort wise larger roof overhangs aac blocks on walls that cop for a lot of sunshine can keep the house cooler auminium or plastic windows to up date the exterior new wiring and ceilings there are a host of things you can do to improve it but start with a plan of what you want ultimately and work through a couple of rooms at a time if you intend to extend the house do that first so you have extra living space to start with do it in bites
that you can chew ? you have more control and it helps the familly put up with the discomfort if they know its a couple of weeks at a time completing the rooms you are doing then moving on to the next

do you have any pictures of the house or a good memory of the floorplan to work from
my comments may be wrong but never deliberately
If it aint broke, dont fix it
guilt
Posts: 10
Joined: Mon Aug 08, 2011 10:27 am

Re: Mortage in Thailand

Post by guilt »

@ geordie ...

Sorry for the later reply. Emergency back in her home. Due to the constant rain in season and the bad shape of the house. Water was leaking virtually everywhere! Rain was coming into the house wetting the floor and staining the false ceiling! :( .

Will continue this in the ROOFING COST ENQUIRY.... :wink:
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vanda
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Joined: Sun Dec 01, 2013 8:53 pm
Location: Australia - Roi Et

Re: Mortage in Thailand

Post by vanda »

Although there hasn't been a post made here in a few years, the info may now be out of date. Does anyone have any recent detailed information regarding a foreigner obtaining a loan to build from a thai bank? From what I have read from one of the banks sites one of the things you are required to do is get confirmation from your embassy about your current financial situation, detailing money in your bank, income earned must be more than 50,000b per month, expenses etc, sounds similar to the visa requirements when my partner came to Australia...
Although a loan isn't something I desperately need, it would only be there to progress the build along sooner and I would only go along with it if I could get a lower interest rate than that of a loan in my own country. My partner isn't currently working and the only collateral I could guarantee is the land I intend to build on.
griffin
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Joined: Sun Apr 13, 2014 9:17 pm

Re: Mortage in Thailand

Post by griffin »

Hi,
Take a look The GHA Government HousingBank, they will give mortgages to Farangs and their wife's even if they are living out of the country.
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vanda
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Location: Australia - Roi Et

Re: Mortage in Thailand

Post by vanda »

griffin wrote:Hi,
Take a look The GHA Government HousingBank, they will give mortgages to Farangs and their wife's even if they are living out of the country.
Cheers, I'll look into it
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Roger Ramjet
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Re: Mortage in Thailand

Post by Roger Ramjet »

griffin wrote:Take a look The GHA Government HousingBank, they will give mortgages to Farangs and their wife's even if they are living out of the country.
Siam Commercial Bank will also give mortgages to farangs and wives. Our townhouse was purchased through them. As long as the wife has a job that will cover the mortgage repayments, all the "farang" has to do is go guarantor.
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schuimpge
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Joined: Mon Dec 10, 2012 11:01 am
Location: Pathumthani, Thailand

Re: Mortage in Thailand

Post by schuimpge »

Roger Ramjet wrote:
griffin wrote:Take a look The GHA Government HousingBank, they will give mortgages to Farangs and their wife's even if they are living out of the country.
Siam Commercial Bank will also give mortgages to farangs and wives. Our townhouse was purchased through them. As long as the wife has a job that will cover the mortgage repayments, all the "farang" has to do is go guarantor.
Copy that RR. First house through them also.
Cheers,
Luc
Jeepsterman
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Joined: Sat Nov 28, 2020 6:33 pm

Re: Mortage in Thailand

Post by Jeepsterman »

schuimpge wrote:
Roger Ramjet wrote:
griffin wrote:Take a look The GHA Government HousingBank, they will give mortgages to Farangs and their wife's even if they are living out of the country.
Siam Commercial Bank will also give mortgages to farangs and wives. Our townhouse was purchased through them. As long as the wife has a job that will cover the mortgage repayments, all the "farang" has to do is go guarantor.
So the loan is not going to the Farang with the income, but the requirement is still only a working Thai (with salary/tax history) can get a mortgage. My wife is a housewife and I work overseas, so the odds of getting a mortgage looks to be nil. Our son is working for a couple of years, but I do not know if a loan can be put in his name as his salary too so small. Has anyone gotten a mortgage with another relative's name other than your wife's?
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schuimpge
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Joined: Mon Dec 10, 2012 11:01 am
Location: Pathumthani, Thailand

Re: Mortage in Thailand

Post by schuimpge »

Jeepsterman wrote:
schuimpge wrote: Siam Commercial Bank will also give mortgages to farangs and wives. Our townhouse was purchased through them. As long as the wife has a job that will cover the mortgage repayments, all the "farang" has to do is go guarantor.
So the loan is not going to the Farang with the income, but the requirement is still only a working Thai (with salary/tax history) can get a mortgage. My wife is a housewife and I work overseas, so the odds of getting a mortgage looks to be nil. Our son is working for a couple of years, but I do not know if a loan can be put in his name as his salary too so small. Has anyone gotten a mortgage with another relative's name other than your wife's?
Well, still through my wife, but we applied for a mortgage through BBL, to buy a house for my brother. Mortgage is in my wife's name, my brother paid up half the sales-price, rest got mortgaged (1m THB)..and there's still our house's mortgage with SCB, but just to clarify: she did not have any salary back in 2010 when we bought the house. I had the salary, and was the guarantor for the loan, she applied and got the loan with me co-signing. They also insured the mortgage against losing our income. So we'd still have the house in such eventuality.

From what I've seen over the years, it looks to me that you'd have a reasonable chance to get a mortgage in both yours and your wife's name with the bank where you deposit (part of) your salary. It's also a big help if you know some people higher up in that branch or in other branches of the same bank. They can typically help you by discussing your application favourably with the approval-department.

Good luck!
Luc
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