loan money from thai bank

Post by **mozart** » May 6, 2007, 5:46 pm

hello together

my thai wife want to buy land in udon.she have saved a part of money,
but it will be not enough.so she tell me she want loan money from her
thai bank.my quostion is,she can loan money from her bank,because
we live in germany and she has no work here.
anyone has experience ?

thanks for any answer or idea

valentine · Post by **valentine** » May 6, 2007, 8:32 pm

Simple answer NO.

Post by **mozart** » May 7, 2007, 12:51 am

will be different if she will work and send money from germany to
thailand?

Post by **kevh** » May 7, 2007, 2:33 am

No, she can't borrow money if she isn't living in thailand.

same as anyone else.

i.e people living outside britain can not borrow money from british banks ( with a few exceptions )

I would imagine it's the same of most countries.

If you're both living and working in germany then why don't you borrow from a german bank?

Post by **Dakoda** » May 7, 2007, 7:20 am

Well, must disagree, the simple answer is never obtained from a forum

1. Do not think a German bank will loan money to a foreigner to buy land in another country. Would be an unsecured loan. Now if you were a cosign the loan, than maybe they will make the unsecured loan.

So what is the answer to the question

1. Wife is Thai, so must have a Thai passport, Thai house papers, ....
2. The land is in Thailand

I would bet that the answer is "yes", but you will never know til you come here and try. So put all the paperwork together.

valentine · Post by **valentine** » May 7, 2007, 8:23 am

Agree with everything said. however no job here, no loan here. Straight out of the mouth of a major bank manager.

Post by **Dakoda** » May 7, 2007, 8:59 am

valentine wrote:Agree with everything said. however no job here, no loan here. Straight out of the mouth of a major bank manager.

My wife got a car loan

Last time I ck'd she had no job.

So, would think, if the land price was right, and she was putting 50% down, very low risk loan. Plus he did say he was married, so he must have some income. Kind'a makes it even lower risk.

valentine · Post by **valentine** » May 7, 2007, 9:04 am

Dakoda wrote:
valentine wrote:Agree with everything said. however no job here, no loan here. Straight out of the mouth of a major bank manager.
My wife got a car loan Last time I ck'd she had no job.

So, would think, if the land price was right, and she was putting 50% down, very low risk loan. Plus he did say he was married, so he must have some income. Kind'a makes it even lower risk.

Sorry Dakoda it is doubtful if your wife got a car loan, She has more than likely signed a lease agreement. Simple to check. If she has the registration papers then she has indeed borrowed money on the car. If she hasn't it will be a lease/purchase agreement.You are renting the vehicle, with an option to purchase at the end of a specified number of years.

Post by **marshallb66** » May 7, 2007, 9:35 am

My wife has never worked and she got a car loan, not a lease.

She recently got a loan to buy land.

Two reasons why. We have a joint bank account SCB,
Substantial monthly deposits have been made for 6 years.
She owns 400 rai. She owns her own home. Valued at 9 million.

The bank lent 4 million baht with a 33% cash deposit to purchase another 200 rai using the land and house as security.

So given the right circumstances, a Thai bank will loan money to a person who is not working.

I think the biggest hurdle would be if the person borrowing is not living in Thailand, however, how would the bank know that she is living in Germany?

valentine · Post by **valentine** » May 7, 2007, 10:14 am

marshallb66 wrote:My wife has never worked and she got a car loan, not a lease.

She recently got a loan to buy land.

Two reasons why. We have a joint bank account SCB,
Substantial monthly deposits have been made for 6 years.
She owns 400 rai. She owns her own home. Valued at 9 million.

The bank lent 4 million baht with a 33% cash deposit to purchase another 200 rai using the land and house as security.

So given the right circumstances, a Thai bank will loan money to a person who is not working.

I think the biggest hurdle would be if the person borrowing is not living in Thailand, however, how would the bank know that she is living in Germany?

Say s it all. With that sort of security even I would lend her money.

Post by **jetdoc** » May 7, 2007, 11:41 am

When we bought our truck (Nissan dealer) The issue of her job or more importantly lack thereof was visited several times. The truck was delivered on schedule as agreed. When we went to get the temp plate they ask again "how she pay for truck" this time I told them that she is very a talented artist singing, write song etc., same, same Tata Young and now I give her money to eat and buy truck and when she famous I get 30% everything. They look me crazy;o) but no more question "how pay" so every month we pay Tanachart. No problem.

Post by **papaguido** » May 7, 2007, 11:56 am

valentine wrote:Agree with everything said. however no job here, no loan here. Straight out of the mouth of a major bank manager.

Maybe not all banks operate the same. Almost 2 yrs ago we applyed for a house loan and were approved with 10 % down. Wife had no job and I was in the USA. My wife had to scan & email documentation for me to sign and then have notarized at Thai consulate. Everything mailed back, including proof of my income & Statement of Service from my employer. I guess I need to have the wife look into this, maybe we're just renting the house from the bank

Post by **Roadman** » May 7, 2007, 12:57 pm

Our experience is that when my wife was living and working in Thailand she could get loan money from her Thailand banks no problem.

We are thinking about buying some coastal property in Thailand, but her inquiries have shown that her Thailand banks would not lend her money while she was over here. We have been to our bank here in NZ and "no problem how much do you want to spend on land in Thailand". Issue is that interest rates are rapidly escalating here while in Thailand they may have moved a little over last two years but still cheaper to borrow in Thailand.

I think the issue may be is whether you are in the country or not.

Post by **BKKSTAN** » May 7, 2007, 1:10 pm

Roadman wrote:
I think the issue may be is whether you are in the country or not.

And what bank,what person you talk to,what connections you or your friends have!Sounds like nothing is definitive

Post by **Dakoda** » May 7, 2007, 4:22 pm

valentine wrote: Sorry Dakoda it is doubtful if your wife got a car loan, She has more than likely signed a lease agreement. Simple to check. If she has the registration papers then she has indeed borrowed money on the car. If she hasn't it will be a lease/purchase agreement.You are renting the vehicle, with an option to purchase at the end of a specified number of years.

Yes she has the registration papers then she has indeed borrowed money on the car.

Because I was there and I think I know the difference between a lease and a purchase, I would say that she has a car loan. She has seven payments to go, and its fully hers.

I did this so that she could establish a credit history, not sure it works in Thailand, but it sure does in the states.

They did not ask to see anything from me, nor did I sign anything. They did ask a couple of questions, but can't remember what they were. Guess we got a good loan officer, plus maybe I shaved that day and didn't look like a bum.

Oh, one question comes to mind, "How long did I planned to stay in Thailand"?

Enough about me, and back to the question. In my above answer I did say Bank(S)

Post by **treehugger** » May 8, 2007, 12:19 am

Dakoda, I'm confused by the thread. If she had a car loan ie was lent money to buy a car, then how come she has seven more payments before it is hers? Surely that is lease purchase. Or is this another case of different English speaking countries meaning different things with the same words?

Post by **Doc** » May 8, 2007, 3:31 am

In American English, we consider nothing is totally ours until the bank has been paid off in full. Then, it becomes "ours." Before that, it is jointly owned by us and the Bank / finance company.

Post by **hxjohn** » May 8, 2007, 4:29 am

kevh wrote:No, she can't borrow money if she isn't living in thailand.

same as anyone else.

i.e people living outside britain can not borrow money from british banks ( with a few exceptions )

I would imagine it's the same of most countries.

If you're both living and working in germany then why don't you borrow from a german bank?

wrong you can borrow from a thai bank while working and liveing out of thailand falang and thai both can get loans
for your thai partner it should be easy if you pass a credit check in your home country she doesent have to be working but you the husband must be take a look for further info on the bangkokbank website http://www.bangkokbank.com/Bangkok+Bank ... ns+and+Ans

Post by **hxjohn** » May 8, 2007, 4:37 am

[quote="valentine"]Simple answer NO.[/quote

on her own with no work no she carnt but married to you in work yes
you can contact bangkok bank its simple if the bank in germany will lend you money the thai bank will also
ok you pay the loan she owns the home our land in her name

ps bad link above just go to http://www.bangkokbank.com

Post by **beer monkey** » May 8, 2007, 4:58 am

treehugger wrote:Dakoda, I'm confused by the thread. If she had a car loan ie was lent money to buy a car, then how come she has seven more payments before it is hers? Surely that is lease purchase. Or is this another case of different English speaking countries meaning different things with the same words?

i see it as car finance, if you don't keep up the payments or can't afford them anymore the finance company/bank will take the car back(ever wondered why there is so many late trucks for sale at used dealers in Udon !!) wether they chase you for the short fall (if there is one)or you get bad credit status who knows.
My wife was offered several finance deals from new car dealers, and the money was lent on the car(seems there was very minimal checks on the borrower to be done), a cash deposit down and up to 60 monthly payments on the balance
not sure if you can obtain a early settlement figure on the car finance deals offered in Thailand.
A healthy bank account is a must.

loan money from thai bank

loan money from thai bank

not so