Homepage > More Reading

Home-Financing Options Available For Foreigners In Thailand

Have you always dreamed of living in a tropical paradise surrounded by breathtaking views and captivating seashores? Well, if you have, then Thailand is the country you should go to. Although the law prohibits land ownership to foreigners, there are other means to acquire a property in this Southeast Asian archipelago. What you need though is to seek professional advice from real estate agents and lawyers. Once you have the legalities figured out, you will now need a means to finance for the purchase. Even if you have sufficient funding, it is still wise to use a mortgage to leverage your investment.

• home contents insurance : Protect all your residential properties by acquiring a home contents insurance policy. Get a quote now!
• home loans : Find out how much money you can borrow through home loans when you access the featured website.
• bridging loans : Follow the link now to know more about a reliable bridging loans firm.
• cheap conservatories : Are you searching for cheap conservatories with beautiful specifications? Look no further today!
• builders in coventry : Visit the website on the link to learn about a company which can provide you with trustworthy builders in Coventry.

So now, you may be wondering whether or not Thailand has financing options to offer you. Here are some of the methods you can take advantage of to finally get hold of the house you have always wanted.

Offshore Loans

In recent years, a few banks in Singapore started offering credits of up to 70% of the total value to non-Thai residents who wish to purchase a property in the country. But, if you go this route, you have to keep in mind that the house or villa you are planning to purchase will act as the collateral. Also, interest rates for such type of financing are tied to the currency in which the repayments will be made. In other words, this may be a more expensive deal to take.

Remortgaging

If your property in your homeland has acquired enough equity, then you can opt for this method. You can then get the funds necessary to buy a home in Thailand. However, you have to prove to the bank or other institution that you still have the capacity to repay the loaned amount. For example, if you plan to generate income from the estate you will acquire from another country, then you have to show the lender the rental agreement.

Find out more about IVAs here

unsecured loan

savings account uk

bridging finance

Aside from these choices, multinational companies offer home loans to expatriates wishing to buy a house in Thailand. However, they have rigid requirements to comply with, including a proof of permanent residency in the country, working permit, certificate of employment, and many others. Once you have found a company that can financially assist you with such an undertaking, make sure that the “Loan agreements between financial institutions including banks and individuals are subject to the Notification of the Consumer Protection Board on Contract, Re: Lending Business for Consumers of Financial Institutions, A.D. 2001”. – Bangkok Post.