Advice on mortgages for foreigners

[garyshughes]

Hello

I'm married to a Thai lady and she got her spouse visa and moved to the UK 3 months ago. She has a job, friends and we are very happy and settled. We are currently trying to get her 6 year old daughter over here but feedback is not good regarding her visa (UKBA crackdowns)

My question is regarding what we would do if she can't get a visa. I am happy to live in Thailand (preferably Hua Hin). I am nearly 52 and have a pension I can take in 3 years. However is it possible to buy a house in Hua Hin now without paying for it outright. I understand it is not possible for a pharang to get a mortgage.

Any ideas greatly appreciated.

Thanks

GH

[SunandFun]

Rent for a few years. Shop around and you can find some long term deals for Rent. This will give you time and can better decide what area you want to buy in. Since Rent is pretty inexpensive (or can be) then you don't waist a lot of money or buy at the wrong place or wrong price. Some of the more experienced Forum folks will comment better on mortgages and pitfalls of same. My advise would be different in the "West" as I believe you waist money by doing this there. But the rental market is better in HH. Good Luck! Sun and Fun

[garyshughes]

Thanks S & F

I just wanted to make sure I don't leave it too late with rising land / property costs.

As a matter of interest do you have an estimate of how much income you need per month to live comfortably in Thailand?

Thanks again

Gh

[richard]

Thanks S & F

I just wanted to make sure I don't leave it too late with rising land / property costs.

As a matter of interest do you have an estimate of how much income you need per month to live comfortably in Thailand?

Thanks again

Gh

Try this thread

viewtopic.php?f=10&t=18186&hilit=whats+it+cost

[Takiap]

No 100% sure about mortgages, but I believe some developers offer private financing, also I suspect this would be in your wife's name, if you're married to a Thai.


I have also heard Bangkok Bank can and do offer home loans, but apparently only through there branches outside of Thailand.

[squire]

Bangkok Bank ceased do the foreigner offshore mortgages in 2009. However, MBK now offer mortgages to foreigners. I'm unsure whether you need to be living/working in Thailand in order to meet their criteria. However, they recently recruited an English guy at MBK to try to grow the business. You can email him on stuart@mbk-center.co.th

[luckikong]

Well, good advice and your analytical ability is very cool. Absolutely, what you are said exactly is the ture.