Finance for buying a house

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dundrillin
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Finance for buying a house

Post by dundrillin »

Is it possible for a faring to get a loan for house purchase?
Henry 14th
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Post by Henry 14th »

There are quite a number of projects around that will arrange the finance for you.

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Bristolian
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Re: Finance for buying a house

Post by Bristolian »

dundrillin wrote:Is it possible for a faring to get a loan for house purchase?
Normally you need to prove that you brought the funds in from overseas for the purchase. This can be overcome by sending the funds offshore and then returning them.
I bought my apartment that way many years ago and managed to get a 10 year home loan but I think that most of the banks have introduced rules that do not permit them to make home loans to foreigners. After the payback of my loan was completed I visited the bank to collect my deeds and the staff were amazed that I had managed to obtain such a loan.
The developers, that are mentioned, may have found another loophole
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migrant
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Re: Finance for buying a house

Post by migrant »

I've seen developers offer financing, but usually very short term, 1-3 years.

A while back there was a company based outside Thailand that offered mortgages, but have not seen them advertising in a while.

It's not done much here, but have seen some owner financing, never hurts to ask. If you have sufficient assets/income, and put a large enough down payment, you may get someone to take it.

When we bought our property in Bang Saphan we paid about 10% as a downpayment, and the balance 9 months later.
It took me that long to free up the funds, and I had explained to the seller (Thai). They said "no problem".

Do you have a house, or other assets, in your home country? I know people who have refinanced their home in their country, and used those proceeds to buy here.

Good Luck!
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Henry 14th
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Post by Henry 14th »

I recently saw 2 separate developers in Market Village offering 10 years finance with a fairly minimal deposit.

Their finance terms were 8.5% pa and the entire loan could be paid off without penalty at any time.

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