Help concerning mortgages

[LKelly]

Hi Guys,

I am a 30 year old Australian man who is quite new to the living in Thailand thing, loving it but in desperate need of information and would love to sponge up as much info as I can from my more experienced com-padres Ok a bit of my back ground. I work in the Australian Mining industry, I work 2 weeks straight and then have the rest of the month living in Thailand. I have been doing this since November last year. I am legally married in Thailand to my beautiful wife who I adore, Yes it was a quick registration since I have only known her since November but it was more a formality as so we could open up a joint bank account etc. The real wedding will be hopefully later this year.

My wife is from Ban Long Dai, just out of Kosum Phisai, she/we stay at her mothers house which is ok for now but we would definitely love our own space soon. My wife has some land in her name next to her mothers property and I would love to build a home there but am unsure of how to get a loan from a Thai bank. I earn a very reasonable ongoing income in Austarlia but do not have much in the way of savings. Any advice in terms of the best visa/Thai bank from my experienced friends out there would be much appreciated! I look forward to chatting to you all, and hopefully meeting some good farangs and maybe catch up for a beer and a barby in the future. All the best, God bless

[fogeyes]

re-post on the general forum,you'll get more response,good luck

[bumper]

You get a loan same here as anywhere else. More then likely you will need at least 50% down. Good Luck

[Aardvark]

Is that a question or an answer Ray ??

[papaguido]

I think it has something to do with the following...

Hi Guys,

I am a 30 year old Australian man who is quite new to the living in Thailand thing, loving it but in desperate need of information and would love to sponge up as much info as I can from my more experienced com-padres Ok a bit of my back ground. I work in the Australian Mining industry, I work 2 weeks straight and then have the rest of the month living in Thailand. I have been doing this since November last year. I am legally married in Thailand to my beautiful wife who I adore, Yes it was a quick registration since I have only known her since November but it was more a formality as so we could open up a joint bank account etc. The real wedding will be hopefully later this year.

My wife is from Ban Long Dai, just out of Kosum Phisai, she/we stay at her mothers house which is ok for now but we would definitely love our own space soon. My wife has some land in her name next to her mothers property and I would love to build a home there but am unsure of how to get a loan from a Thai bank. I earn a very reasonable ongoing income in Austarlia but do not have much in the way of savings. Any advice in terms of the best visa/Thai bank from my experienced friends out there would be much appreciated! I look forward to chatting to you all, and hopefully meeting some good farangs and maybe catch up for a beer and a barby in the future. All the best, God bless

http://www.udonmap.com/udonthaniforum/p ... ml#p290489

[bumper]

Visa I missed you can get a annual based on supporting a Thai. Missed that didn't I

[Dr. James]

I would suggest to you to rent a home for at least a year, put some down payment money aside, and get a feel for what Udon is all about. House rental prices are very reasonable here. Anywhere from 7 to 12 thousand baht a month. If you feel strongly about sinking permanent roots after that time, you will be in a better position to do so. Best of luck.

[randerson79]

^^What he said. Take it slow. If you do it all today what will you do tomorrow?

[kevh]

You got married so that you could open a joint bank account?

Why would you need a joint bank account?

It is very simple to have separate accounts and transfer funds between the 2.

I'm just guessing but i bet it was the wifes idea.

I may have missed something. Just asking

Kev

[harmonyudon]

My wife has some land in her name next to her mothers property and I would love to build a home there but am unsure of how to get a loan from a Thai bank. I earn a very reasonable ongoing income in Austarlia but do not have much in the way of savings.

I know an australian with his Thai-wife who did that before in Udon.
Unfortunately my PM-system is disabled???? Otherwise I can PM the initial poster for more details
about the contact details.

[fdimike]

I don't believe you'll be able to obtain a loan from a Thai bank to build a home. However, your wife may be able to qualify. I would assume she'll need to be employed to show some sort of income to qualify. I would also give some considerable thought about building next to your mother-in-law as well. You would be wise to research the topic of building next to your in laws before pursuing this plan as there are many others who have done the same and wished they hadn't.

[jonny_w]

You got married so that you could open a joint bank account?

Why would you need a joint bank account?

It is very simple to have separate accounts and transfer funds between the 2.

I'm just guessing but i bet it was the wifes idea.

I may have missed something. Just asking

Kev

this story from the OP (new member) sounds like an all too common disaster in the works

bottom line: its usually cheaper to rent than to own in Thailand..........the exception being cars and motorbikes

[Henrie]

Go home idiot, why you think you can live in Thailand in the age of 30 years. You never get bankservice, for home or what so ever. Have good dreams and more, work like me 42 years in your homecountry and come back, than you realistick.

[old-timer]

I work 2 weeks straight and then have the rest of the month living in Thailand.

Two weeks on followed by a flight from Oz to Udon for a fortnights holiday, then back to the mine in Oz.
Looks like your working to live, which is without a doubt the best way. Although whatever your other ambitions are they won't add up to much by doing what your doing. Try staying down the mine for three months before dashing back to Udon then you'll not have to borrow money to buy what you want.
After three months whatever you want now will have changed anyway.

OT...................

[Stantheman]

Go home idiot, why you think you can live in Thailand in the age of 30 years. You never get bankservice, for home or what so ever. Have good dreams and more, work like me 42 years in your homecountry and come back, than you realistick.

Very very poor answer to the original question, maybe "Henrie" should go home until he grows up and is no longer the idiot

[maaka]

Slow down matey, theres no rush. Your western mindset of thinking logical, working to time frames, etc, etc, is total opposite to Thai way of doing things..just go with the flow mate, and get to learn abit of the culture, and spiritual values of Thais. Mama dont care if you live at her house..even if you build, she will probably only come and live with you. I like OT's suggestion..do afew months work at a time downwunder, save some pingers, you must be getting good money, might take a year or two to save $,50,000A, by which time your marriage will either be cemented, or you will be divorced, you will also have eased yourself into the family, the culture, and just scratched the surface of what Thailand is all about..no need to rush as if you were some 90yr old who has just found viagra, and wants to go out with one last bang before he dies...I was 30yrs old once, like most men here, and it is a time were we all tend to want to rush into matters, have our first house, and first child, even create the world, but really it is a reckless time..this loan and new house is your dream really, maybe you feel you want to save your missus from the squalour she and her mama grew up with, fair enough, but just remeber that has been their life, and there parents before them, so go slow mate. it will all work out in the end, even if you get a loan in aussie for a new Commodore, then sell it and use the funds for the house hint hint...

[chrisoary]

Bit jealous are we Henrie?

[ronan01]

Go home idiot, why you think you can live in Thailand in the age of 30 years. You never get bankservice, for home or what so ever. Have good dreams and more, work like me 42 years in your homecountry and come back, than you realistick.

Henrie - you are the idiot.

[merchant seaman]

LKelly, you need to slow down. Have you not read any of the hard luck stories on this and other forums? I know, your lady is different. Maybe she is but give it some time you are heading for disaster. While you are at it I'm sure any of the bar owner at Nutty Park or Day and Night would be ore then happy to sell you their bar.

[Khun Paul]

Well after reading Henries comments, ignore the local idiot as others have said.
Financing ofr a nbew house, yes the wife could go and speak to banks or even various building companies who through their own finance coys will build with a bank guarantee of the a mortgage. You will have to search for those.

As previously stated building on land right next door to ma-in-law could be a problem later on when you start a family but that is your decision.
You could of course get a loan on your wife's land ( she could I mean) and then you could buy and build elsewhere.

In reality you can do anything together as your wife has the ability to borrow from whereever, it will be you who has to repay it, so start looking.

last option build it yourself, Thai houses are not that hard to build and with some well chosen workers you could build it yourself and slowly expand it to meet your needs. At your age I would , but at my age I will not even consider it.

Whatever you do think before acting and take care . Do not accpet the first offer , seek and ye shall find , but remember caveat emptor especially here.