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Finance for Foreigners

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Information for Foreigners Seeking Finance for Property Purchases in Thailand

 

FACT SHEET


Depending on lender these are the requirements for applicants:


■ Accepted age from 21 - 65 years of age
■ Minimum amount for loan 1,000,000 THB or 3,000,000 depending on lender
■ Loan to value (LTV) 60-70% for foreigners with work permit, 50-60% (LTV) for foreigners residing outside of Thailand
■ Depending on lender rates available from 5.25% - 6.25% - 7.25%
■ Loans available in USD or SGD (Singapore dollar)
■ Tenure depending on lender 3 - 30 years
■ Loans available in Pattaya, Koh Samui, Cha-Am, Chonburi, Phuket, Hua Hin, Chiang Mai & Bangkok

 

REQUIREMENTS


Depending on lender and requests, the following maybe required:


■ Passport details
■ Work permit (if resident in Thailand)
■ Proof of address
■ 3-6-12 Months bank statements
■ Utility bills
■ Marriage certificates
■ Dalary slips (up to 12 months depending on lender)
■ Credit reports in host country
■ Income tax returns
■ VAT returns
■ Credit card or loan statements

 

PRE-APPROVAL, FINAL APPROVAL AND LOAN DISBURSEMENTS


■ Pre-approval 2-4 weeks from completed documentation
■ 7-10 Days property evaluation
■ 7 Days for final approval
■ 5 Days preparation of loan agreement
■ 10 Days after signing of loan agreement
■ Loans can be drawn down on the same day of ownership transfer
■ Other lenders may not give pre- approval, however the whole process from approval to disbursements of funds shall take up to 10 weeks for the whole process.

0 - 30,000 THB
30,000 - 80,000 THB
80,000 - 150,000 THB
150,000 THB +
0 - 3M THB
3M THB - 6M THB
6M THB - 10M THB
10M THB - 20M THB
20M THB +

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