Thailand house finance

[ronniec]

can anybody tell me if any Thai banks will use your Aussie income to finance a house to either build or buy

[BobHelm]

I think it is something you would have to try yourself ronnie.
Going around the various branches & asking.
In general Thai banks are not lining up to lend money to foreigners.
I think you would certainly have to be married to a Thai & then get a generous bank to loan your wife, on your income. Easier if she has an income as well - especially if she is a 'Government' employee - then I think that might make a large difference.
You would also stand a far greater chance of being looked at favourably if you had a long term 'history' with a bank - for example maybe a car or m/c loan that was paid off in a satisfactory manner.

An easier way of financing a home would be to buy one from one of the Estates currently being built. There the owner would have struck a deal with a bank to loan on sales & that would be a whole lot easier as the financing would be part of the sale.

So, maybe, is the answer depending on your circumstances, the property & the bank the day you visit them...

[sgt]

All of what Bob says is valid. I'm still trying to get bank finance after 2.5 years. Let me add, if you are 65 or older forget it, ain't gonna' happen. Probably if you are 60 or older. If there is family (wife's) land to use as guarantee that is a big help. A family member willing to sign on as a guarantor is also a help. If your wife has a good job history that is a big plus and just about 100% necessary.

Banks are in no hurry to loan to farangs and looking at our economies I can't blame them, especially the USofA where the plutocrats (republicans and cowardly blue dogs) are trying to destroy government workers and their pensions, ie me.

Bob hit it on the head, the best way is with the Realtor/developer, watch for balloon payments and interest rates.

Good luck!

[ronniec]

thanks lads,the point about having land as a guarantee is good as my tw has land in nong khia,maybe i'll contact one of the developers in nong khia when i'm up next,and being i'm only 51 that might help.what sort of rates are they these days?

[BobHelm]

what sort of rates are they these days?

Don't have a clue off the top of my head ronnie.
If no one replies with some solid information I will have a dig about the next time I am in the Complex - which is probably Friday or Saturday...

[ronniec]

cheers bob

[BobHelm]

ronnie,
Here is the English language version page of the KASIKORNBANK Mortgage loan requirements. They are as 'Falang friendly' as any in Udon at the moment.
As you can see they do not even offer home loans to Foreigners. The rates do not appear to be 'hard wired' into the agreement & there would appear to be some sort of flexibility there.
I though the full list of terms might be useful to you, especially the age & % of value ones...

http://www.kasikornbank.com/EN/Personal ... ikorn.aspx

[Prenders88]

Looked at the link Bob.

First thing it says on the conditions, is Thai National.

[BobHelm]

As you can see they do not even offer home loans to Foreigners.

[lee]

Here is a list of Thailand Banks and links to their home finance pages for you to bookmark. According to one house builder in Udon GH Bank offer the best rates, I'm not sure what the terms and conditions are though.

1. Bangkok Bank: http://www.bangkokbank.com/Bangkok%20Ba ... fault.aspx

2. Thanachart Bank: http://www.thanachartbank.co.th/TbankCM ... e=personal

3. Krungthai Bank: http://www.ktb.co.th/en/products_servic ... btawee.jsp

4. Siam Commercial Bank: http://www.scb.co.th/en/pnb/pnb_ln_pln_housing.shtml

5. Kasikorn Bank: http://www.kasikornbank.com/EN/Personal ... ikorn.aspx

6. TMB Bank: http://www.tmbbank.com/personal/homeloa ... oan-en.php (User Friendly site)

7. Bank of Ayudhaya (Krungsri): http://www.krungsri.com/en/ourservice-c ... px?cid=189

8. Kiatnakin Bank: http://www.kiatnakin.co.th/en/loan_cust ... e_loan.php

9. Siam City Bank: http://www.scib.co.th/en/customer/defau ... al_home_en

10. Standard Chartered Thailand: http://www.standardchartered.co.th/pers ... ageone/en/

11. Tisco Bank: http://www.tisco.co.th/en/personalbanki ... etail.html

12. GH Bank: http://www.ghb.co.th/en/index.php Apparently one of the best mortgage lending rates. Unfortunatley the site is in Thai language only and there is only one branch in Udon. Head towards the Khon Kaen highway and it's past the Army hospital on the left.

[harmonyudon]

can anybody tell me if any Thai banks will use your Aussie income to finance a house to either build or buy

Ronnie,
There is an Aussie guy who bought a house from Tim & Anna, 4m+, with finance of a local thai bank.
Please contact Tim & Anna for further details.

If you dont know Tim & Anna, pm me and I give you their email.