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BANGKOK 23 March 2019 13:14

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On 2/14/2019 at 10:49 AM, marcusarelus said:

That works too.  I was thinking of the married guys who don't want the hassle of the marriage extension rigamarole and use the retirement option.  

There is very little difference in extensions, so my  wife tells me, i.e. she does it all and says that after the initial visit from the IO who comes out for the photos with you and wife in front of the house, there is only a couple of additional papers to add.

 

I had the retirement extension 1st and changed it on the 2nd year, my reason was because I wanted the marriage extension the 1st time, but IO said best to get retirement extension because you need it as marriage extension meant I had to leave the country as it had to go to Bangkok to get approved and that takes a month, oh ok, you can pull my leg this time Somchai, but next year I will change it, and I did, although it cost me 1,500 baht in tea money because they had to drive out here and back, a 2 hour 40 minute round trip, and I am a charitable guy once in a blue moon.

 

Did it again just recently, forgot the photos of us in front and inside the house, no problem, you can LINE them to me and donate 500 baht to our New Year Party Fund and IO would get the photos developed and lodge with completed application, suffice to say it saved me a 2 hour 40 minute round trip to come back with the photos, welcome to the land of smiles, could be worse 🙂

 

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2 minutes ago, 4MyEgo said:

There is very little difference in extensions, so my  wife tells me, i.e. she does it all and says that after the initial visit from the IO who comes out for the photos with you and wife in front of the house, there is only a couple of additional papers to add.

 

I had the retirement extension 1st and changed it on the 2nd year, my reason was because I wanted the marriage extension the 1st time, but IO said best to get retirement extension because you need it as marriage extension meant I had to leave the country as it had to go to Bangkok to get approved and that takes a month, oh ok, you can pull my leg this time Somchai, but next year I will change it, and I did, although it cost me 1,500 baht in tea money because they had to drive out here and back, a 2 hour 40 minute round trip, and I am a charitable guy once in a blue moon.

 

Did it again just recently, forgot the photos of us in front and inside the house, no problem, you can LINE them to me and donate 500 baht to our New Year Party Fund and IO would get the photos developed and lodge with completed application, suffice to say it saved me a 2 hour 40 minute round trip to come back with the photos, welcome to the land of smiles, could be worse 🙂

 

With all due respect this thread is not about the difference between retirement and marriage extensions but sourcing cash for either extension.  My suggestion was if hubby has spent all his cash on a house for the family he could reasonably expect the wife to mortgage the home he paid for and loan him the money to keep on deposit in the bank be it 400 or 800k.  

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I take loans from farmers bank the rates i get on overseas money more than covers repayments = money for free

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On 2/13/2019 at 11:07 PM, marcusarelus said:

If the wife wants you to stay tell her to get a loan on the house and land and car you bought for her and her family and deposit the money in the bank.  Tell her you will make the payments on the loan.  How much are loan payments on 800,000 secured loan for 20 years?

 

Geez, at least give me credit for suggesting this in another thread a few weeks ago.

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17 minutes ago, marcusarelus said:

With all due respect this thread is not about the difference between retirement and marriage extensions but sourcing cash for either extension.  My suggestion was if hubby has spent all his cash on a house for the family he could reasonably expect the wife to mortgage the home he paid for and loan him the money to keep on deposit in the bank be it 400 or 800k.  

Noted: You did also state: "All the stuff I have been reading here about the pitiful stories about men who have spent all the cash on a house and land for the wife and family and kids and are now broke is really pulling at my heart strings".

 

Indeed, but then again, who have they to blame but themselves, I have heard this and other stories of men being fleeced millions of baht.

 

Love is one thing, finances are another, now if a bloke has spent all his money on a house and car and has nothing else left, then he cannot have afforded to retire here in Thailand and this is what happens when people do not plan.

 

I have stated this countless times over and over, only invest as much as your prepared to lose and that should not be more than 10%, and keep your finances separate because everything is temporary, doesn't matter if it's been 10, 20 or 30 years sooner or later one will leave the other, whether by death, another man, woman or whatever, so the less you have invested here, the easier it is to part, and if it's you who has the other 90% it should be willed to her and the kids and any back home, just stating, we all make our own beds.

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On 2/14/2019 at 5:29 AM, sidjameson said:

7% on 800k is 56k a year in interest.

4700 a month.

Bit of a hit.

Except this doesn't pay back any capital. More like 8000 a month

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5 minutes ago, Griffo63 said:

Except this doesn't pay back any capital. More like 8000 a month

How much for a 20 year loan?  You only have to borrow it once not every year.

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3 minutes ago, Thaidream said:

I would be interested to know which Thai bank is going to provide an 800,000 Baht loan to a Thai woman who has no job; no source of income other than her husband and cannot substantiate anyway to pay back the loan.

Getting a loan in Thailand in my experience is not difficult at all and happens all the time. 

 

Thailand has the second-largest household debt burden among all ASEAN economies.  

 

Even with so many in debt, about two-thirds of all 1,000 respondents (of recent survey) have applied for a new loan in the past 12 months. Of these, 37% were approved for the full amount.  About 35% have home mortgagees.  

 

https://asia.nikkei.com/Editor-s-Picks/FT-Confidential-Research/Ballooning-household-debt-will-slow-Thailand-s-growth

 

If the women you associate with have problems getting a loan I'd suggest upgrade your companions. 

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13 minutes ago, Thaidream said:

I would be interested to know which Thai bank is going to provide an 800,000 Baht loan to a Thai woman who has no job; no source of income other than her husband and cannot substantiate anyway to pay back the loan.

Interestingly, Krungsri did just that to someone I know for a brand new car @800k

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All the stuff I have been reading here about the pitiful stories about men who have spent all the cash on a house and land for the wife and family and kids and are now broke is really pulling at my heart strings.

 

800,000 is not a lot of money when talking about a house and land today in Thailand. 

 

If the wife wants you to stay tell her to get a loan on the house and land and car you bought for her and her family and deposit the money in the bank.  Tell her you will make the payments on the loan.  How much are loan payments on 800,000 secured loan for 20 years?

 

dont spend more that you can afford to lose in Thailand also if your at retirement age or younger but retired early you should be ashamed of your self if you have work all those years and only got a poultry sum of 25,000 pounds.

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What would be the interest difference be on the money deposited vs borrowed? It will obviously be negative but by how much. That is the amount then that has to be funded from your monthly income.  

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On 2/13/2019 at 11:38 PM, Solinvictus said:

Nice point!

 

Ohh how much the tides would turn on allot of couples if guys did that more often, asking her to put up more especially after being generous.  I for sure ain't being 'had' in my roots here.

Problem might be that many of the guys who bought the houses are older men (young wouldn't have the money). Probably won't be around for another 20 yrs. (including myself). 

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2 minutes ago, dotpoom said:

Problem might be that many of the guys who bought the houses are older men (young wouldn't have the money). Probably won't be around for another 20 yrs. (including myself). 

Who cares?  If the old guy dies have a will leaving his bank account to the wife and pay off the loan upon death.

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6 minutes ago, catman20 said:

All the stuff I have been reading here about the pitiful stories about men who have spent all the cash on a house and land for the wife and family and kids and are now broke is really pulling at my heart strings.

 

800,000 is not a lot of money when talking about a house and land today in Thailand. 

 

If the wife wants you to stay tell her to get a loan on the house and land and car you bought for her and her family and deposit the money in the bank.  Tell her you will make the payments on the loan.  How much are loan payments on 800,000 secured loan for 20 years?

 

dont spend more that you can afford to lose in Thailand also if your at retirement age or younger but retired early you should be ashamed of your self if you have work all those years and only got a poultry sum of 25,000 pounds.

I agree but not really the topic.  Topic is how to get 400 or 800K from an asset in Thailand that you purchased. 

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