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BANGKOK 22 April 2019 03:03

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Hi all,

What institution could do a property loan for a foreigner living in Thailand?

I had a smaller loan with MBK before, paid back early with no issues. They have since changed their rules and only do property refinancing now.

 

I work offshore so no WP in Thailand. Steady income to Bangkok Bank for 20 years, permanently employed, no credit issues with anybody ever, no current loans. 

Why is it so hard to borrow a few million baht here when I have many millions coming in each year?

 

Thankful for any advice on this.

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There is an agent in pattaya that has condos for sale with mortgage...is it pattaya?

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The funds to buy a foreign title condo need to come from outside Thailand. Even if someone will lend you the money, you cant but a foreign title condo with that (borrowed inside Thailand) money.

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Thai banker told me last January in Pattaya that no foreigners can get a mortgage from any Thai bank in Thailand , strictly for Thai citizens only .  Don’t have a clue about the bank outside Thailand, I think it will be difficult because the bank will need a house based in the bank’s Country if asking for a mortgage  . 

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50 minutes ago, Peterw42 said:

The funds to buy a foreign title condo need to come from outside Thailand. Even if someone will lend you the money, you cant but a foreign title condo with that (borrowed inside Thailand) money.

Yup, aware of this but not a problem as you can borrow money in TH, send it to your EU bank, then send it back to a Thai bank with the note that it's for buying a condo. That's how I did on my previous purchase.

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25 minutes ago, Billy The Kid said:

Thai banker told me last January in Pattaya that no foreigners can get a mortgage from any Thai bank in Thailand , strictly for Thai citizens only .  Don’t have a clue about the bank outside Thailand, I think it will be difficult because the bank will need a house based in the bank’s Country if asking for a mortgage  . 

Okay, well he's not completely correct as I got an email back yesterday from UOB bank who said they do have foreign property loans, but have to submit a pile of papers. One of them is a "personal tax refund" form, which I do not have since I don't pay any tax anywhere. I have foreign friends in BKk who has borrowed money from UOB before, without WP, but I'd like other options than UOB.

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1 minute ago, JWRC said:

If as you say you have many millions coming in each year, why would you want a loan and have to pay interest? 

I'm sorry but that's classified information.

  • Haha 2

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Posted (edited)

 

1 hour ago, starman_tom said:

Okay, well he's not completely correct as I got an email back yesterday from UOB bank who said they do have foreign property loans, but have to submit a pile of papers. One of them is a "personal tax refund" form, which I do not have since I don't pay any tax anywhere. I have foreign friends in BKk who has borrowed money from UOB before, without WP, but I'd like other options than UOB.

That sounds like information from UOB in Singapore, the fact that they call it a "foreign property loan". UOB Thailand (a separate bank) would call it a loan to buy a Thai property not a foreign property.

Or are you meaning loans for foreigners.

 

Edited by Peterw42

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3 minutes ago, Peterw42 said:

These guys, not a bank but do mortgages to foreigners.

 

http://www.mbkg.co.th/en/loan_products/condo_loan/about

 

image.png.fb535f7e335c7026766448492144ab5d.png

No they don't do loans anymore, new rules. I did post that originally at the top. I had a talk with the guy there who handled my loan before; They do not loan anymore, just property refinancing.

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Posted (edited)
8 minutes ago, starman_tom said:

No they don't do loans anymore, new rules. I did post that originally at the top. I had a talk with the guy there who handled my loan before; They do not loan anymore, just property refinancing.

Not like me to not read things properly, lol

Check back tomorrow as I will call a friend that I know has a non-bank mortgage. Its probably an old one with MBK but I will check.

Edited by Peterw42
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On 3/19/2019 at 11:36 AM, Peterw42 said:

Not like me to not read things properly, lol

Check back tomorrow as I will call a friend that I know has a non-bank mortgage. Its probably an old one with MBK but I will check.

 

Hi there, did you manage to speak to your friend?

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Coudnt get hold of him, will PM if I find out.

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On 3/19/2019 at 7:47 PM, starman_tom said:

Yup, aware of this but not a problem as you can borrow money in TH, send it to your EU bank, then send it back to a Thai bank with the note that it's for buying a condo. That's how I did on my previous purchase.

Q: What sort of bank would give money to a foreigner who works abroad, and allow him to send it out of the country without showing any collateral?

 

A: A stupid bank.

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