Thailand Property Financing for Foreigners. Mortgage Bonds.

[Admin]

Thailand Property Financing for Foreigners. Mortgage Bonds.

Property financing for foreigners in Thailand is possible. When we buy a property back home, one of the first things we would think of is financing. Even for those who have sufficient funding and liquidity for an acquisition, financing is often seen as a means of leveraging our investments. For buyers with less access to funding, financing is an indispensable vehicle they use to own that dream home. In this instance, Thailand is the same as any other country. Most of the financial institutions in Thailand provide loans for real estate purchases to local Thais and Thai companies based on similar criteria we are used to in our home country. However, the similarities do end there for most foreigners buying property in Thailand.
 
Foreigners generally cannot mortgage properties in Thailand. In fact, mortgage lending by local banks to foreigners was virtually unheard of in Thailand. Nonetheless, in recent years we have seen a slight shift in policies to allow foreigners limited access to financing. This was instigated, in part, by the Thai government’s eagerness to promote tourism and to encourage economic growth in Thailand. This was introduced during the high growth period of the past five years leading to Thailand’s current climate which can now be best described as moribund.

Despite this, the momentum gained from the past few years has meant that some Thai banks do offer financing services to foreigners but impose rather strict terms and conditions on their availability. The most important condition is that the property has to be held in the foreigner’s own name and the property has to be registered as a condominium under the Condominium Act since foreigners are restricted to purchasing only these types of properties in Thailand. 
 
http://www.siam-legal.com/realestate/thailand-property-financing.php

[Ron argo]

My lady has not got any paperwork on her property, as I am sure is quite common. How does she get paperwork so perhaps we can get financing. It was from her parents family. Thank you. Ron

[Admin]

My lady has not got any paperwork on her property, as I am sure is quite common. How does she get paperwork so perhaps we can get financing. It was from her parents family. Thank you. Ron

I remember a thread about this subject here in the forum, please use the search option.
If she don't have any paperwork its very unlikely to get any finance from the bank.
If she have a 'Sor Khor' papers of the land there is a chance to be eligible to request to issue chanote in the land office.

Read more here:
http://www.thailandlawonline.com/article-blog/property-law-land-and-title-deeds.html

Good luck.

[Ron argo]

 An intelligent response. Thank you. I really expected some sort of smart mouth remark and am surprised for this answer. Still a few educated people who respond.
Thank you again, Ron Argo

[isanbirder]

I think you'll find that the property is covered by papers of some kind or other, maybe held by one of the family (I'm assuming this is land in a village).  It's very common indeed for villagers to borrow money from a loanshark using land papers as security.  Just a friendly warning.... watch your back!  You, or better your wife, can check whose name it is in at the amphur land office.

[Ron argo]

I appreciate the solid answer. Thank you very much, Ron

[Dave]

hey Ron...all good points and that's one of the best reasons for this site to exist. To encourage and help out brothers