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London Boy

Bought a condo with girlfriend, but how do I protect my deposit?

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17 minutes ago, samran said:

That's well and good, and if you manage to make a similar return here i'll be the first to congratulate you.

 

There is one glaring difference - you had formal property rights on the place in the UK. You'll have no recourse to your money here.

That is very true, but like I say nothing ventured nothing gained. I've dated many women here who I wouldnt buy a 2nd hand scooter with, let alone a condo. I would say this one is definitley a step above my previous expereinces. I'm going into it with my eyes open, and if it dosn't work out, I'll have no one to blame but myself. Having said all that, I'd still like to have a way to prtect my deposit.

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1 hour ago, BritManToo said:

So you're comparing a property you can buy in your name in a country in which you have the right to live .......

With giving a girlfriend money to buy a place in her name in a country where you can be arrested and deported forever over the joint your gf left in your jacket pocket before she called the cops.

 

Not to mention COVID, a new player in town, where all foreigners can be refused entry for as long as the government feels like.

 

PS

Living with a woman is an easy way to lose a property in almost any country.

I lost my 600,000 pound home in the UK with unexpected ease to the woman I loved.

If only I'd rented ............

I hear what you're saying. I too have been through a divorce, but you can't let past experiences scar you. My ex wife (in New Zeland) was a qualified Barrister. When we seperated she took me to the High Court of New Zealand claiming half of all my assests. Despite her profession I won for two reasons:

1. Assests in the Uk were beyond NZ court jurisdiction

2. Our House in Auckland was bought with a $210,000 loan from myself to the limited company we bought the house through (which itself was equity from a flat in London secured through a remortgage). So she ended up just getting half of the increase in equity. We bought it for $600,000 in 2007 and it was value at 1,200,000. But I was still better of if we just rented for 7 years.

So my point is evey relationship is a risk, and no one has a crystal ball. But you can mitigate those risks, which is why I'm trying to find if there's a way to protect my deposit. ALthough it would seem my options are limited.

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28 minutes ago, nauseus said:

Your post includes a question and asks for advice. Any options you may have will be revealed by a decent law firm, after you explain your particular and entire situation. This advice has already been offered but you don't seem interested. So, I wonder why you asked in the first place?

I'm very interested and also been to see a lawyer during the discussion and already posted his advice for others in a similar position. You are yet another contributor who hasn't read the full thread.

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1 hour ago, London Boy said:

That is very true, but like I say nothing ventured nothing gained. I've dated many women here who I wouldnt buy a 2nd hand scooter with, let alone a condo. I would say this one is definitley a step above my previous expereinces. I'm going into it with my eyes open, and if it dosn't work out, I'll have no one to blame but myself. Having said all that, I'd still like to have a way to prtect my deposit.

Buy it outright yourself. You’ve got equity in the Uk. Get a small loan against that and purchase outright. 

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I can say one thing for sure.   finding a Thai woman  with a condo  30%- half paid off makes her an attractive score for many men.   Can OP compete?

the get married prior  to signing the final  note  sounds like your best bet.  Just act so happy amd tell her  now is the time.   All thai women would jump at chance  to be  married.    if she balks  you have  your  answer.  get a prenup to protect  all your assets prior to marriage.   

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Posted (edited)
15 minutes ago, Elkski said:

I can say one thing for sure.   finding a Thai woman  with a condo  30%- half paid off makes her an attractive score for many men.   Can OP compete?

the get married prior  to signing the final  note  sounds like your best bet.  Just act so happy amd tell her  now is the time.   All thai women would jump at chance  to be  married.    if she balks  you have  your  answer.  get a prenup to protect  all your assets prior to marriage.   

Not sure if I'd describe a Thai woman with a 22k/month debt as an 'attractive score'

Assuming she wants money for banging her 'on top' of the loan repayments .... over 30k/month maybe 40k.

 

I did it, but not with as high a risk as the OP.

Mine was supposed to get a 90% home loan, but by the end of the deal I was paying 300k deposit on a 1.8M house.

Repayments 11k/month over 27 years. No documents to protect myself apart from the marriage licence, and property law relating to property purchases paid during marriage. I make all the repayments from my bank account, and keep the receipts.

 

Not that I'm bothered about 300k ........ but 1M+ risk ....... no way.

Edited by BritManToo

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2 minutes ago, BritManToo said:

 

I did it, but not with as high a risk as the OP.

Mine was supposed to get a 90% home loan, but by the end of the deal I was paying 300k deposit on a 1.8M house.

Repayments 11k/month over 27 years. No documents to protect myself apart from the marriage licence, and property law relating to property purchases paid during marriage. I make all the repayments from my bank account, and keep the receipts.

 

Not that I'm bothered about 300k ........ but 1M+ risk ....... no way.

I agree with this . Put her in a position so she can’t afford to kick you out . Do not pay it off early . Which in principle means you will be paying interest mainly (normally the first 10 years of the loan) which would effectively mean you have been renting again ... 

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8 hours ago, nauseus said:

I've read it as far as it goes. You mentioned speaking to an English trained lawyer. His advice that "such a legal document" has the primary purpose of cementing "the idea in her mind that the deposit is not joint property" seems ridiculous to me.

Sorry if just pinched your post. The "lawyer" joke is correct.

Rather that start new thread could I ask members a related question as this active post.

So similar to OP, I wish to purchase property. So how do I transfer 4 mil thb from AU while I'm in Thailand. 

Sounds simple but it's not. 

I have used OFX in the past but limits apply from au banks per day. Meaning au bank to OFX. 

Advice appreciated. 

 

 

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7 hours ago, DrJack54 said:

Sorry if just pinched your post. The "lawyer" joke is correct.

Rather that start new thread could I ask members a related question as this active post.

So similar to OP, I wish to purchase property. So how do I transfer 4 mil thb from AU while I'm in Thailand. 

Sounds simple but it's not. 

I have used OFX in the past but limits apply from au banks per day. Meaning au bank to OFX. 

Advice appreciated. 

 

 

Why can't you send smaller amounts? Transferwise or bank transfer. Test with smaller amounts first to ensure it's foreign and you can get and docs needed

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11 hours ago, DrJack54 said:

Sorry if just pinched your post. The "lawyer" joke is correct.

Rather that start new thread could I ask members a related question as this active post.

So similar to OP, I wish to purchase property. So how do I transfer 4 mil thb from AU while I'm in Thailand. 

Sounds simple but it's not. 

I have used OFX in the past but limits apply from au banks per day. Meaning au bank to OFX. 

Advice appreciated. 

 

 

I've used MoneyCorp and TransferWise to bring over funds, although not all at once. around £10k a day over a month

 

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