Can non-Thai nationals get financing to buy property in Thailand?

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There are several ways for foreigners to use the financing to purchase property in thailand. If you are an expat who owns a business in Thailand or are currently working at a high paying job, you may be able to borrow money against your business in the form of a mortgage to buy a house. However, since each bank has different requirements and restrictions, we recommend consulting your local bank first. Although it is possible to obtain financing from banks here, it is generally not a recommended option as interest rates are often quite high compared to established markets.

Anyway, here are some options you can consider

Option 1) There are a few reputable banks that can provide foreigners with mortgage solutions. MBK Guarantee, ICBC and UOB Ban are the three most well-known banks/loan companies that lend to both foreign and local customers. These organizations generally only fund freehold apartments, and some have additional requirements, so check each one to see if you qualify. Interest rates vary between 7% and 10%, depending on the amount you borrow.

Option 2) Obtain financing from your personal bank in your own country. Several foreign banks offer two types of loans to those wishing to purchase property in another country. The first is a personal loan, which often has lower interest rates but shorter repayment terms than a standard mortgage (3-10 years versus 10-30 years).

The second type is an overseas property loan (mortgage), which will require a detailed documentation report from your bank to explain the property you are considering purchasing. However, each foreign bank will have different requirements.

Variant 3) If you are married to a Thai citizen with a regular source of income, you can lend in their name and have your name added to the title deed to protect yourself when buying property.

Variant 4) Real estate companies and the entire real estate industry are aware of the growing difficulties in obtaining overseas loans and local mortgages, especially for foreigners and Thais, many companies offer payment plans ranging from 1 to 4 years to help them. Usually a small down payment of around 20-30% of your property price is requested within the first 30-45 days, with additional payments made during the rest of the building process.

A small number of property developers offer financing options after completion. It allows clients to live in or rent out a finished property while making additional payments to the developer over a 1-2 year period. In this situation, the developer might charge an interest rate of 1-2%, but they can help clients finance their acquisition by helping you rent the property.

But don’t worry because you can always make informed decisions and seek professional advice from Thaiger property. Through this website you will find a dedicated real estate consultant who can suggest properties with long-term financing for developers. Also see our article on Do I need a bank account in Thailand to buy property?

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