Many people who are interested in real estate investment with foreigners may have had questions about applying for a loan for them. In fact, foreigners can apply for a loan in Thailand just like a Thai people, however, they cannot get 100% loan. Today we have collected useful information about international banks that are popular among foreigners.
- United Overseas Bank (UOB Bank)
- UOB is a multinational bank from Singapore with branches in Bangkok and all over Thailand. UOB has launched an international home loan in Thailand to give foreigners access to loans to buy a condominium in the two conditions:
- Foreigners can borrow money to buy land if they marry a Thai spouse with a marriage certificate.
- UOB can provide loans directly to foreigners in case that they are working in Thailand with a visa and have a work permit period of at least 2 years. They can then apply for housing loans.
UOB's General Mortgage Terms and Conditions:
- Buy real estate in Bangkok or upcountry
- Available for investment or residential real estate only
- Principal amount up to 70% of purchase price
- Loan currency in Singapore Dollars (SGD) or American Dollar (USD)
- Mortgage term up to 30 years
- Industrial and Commercial Bank of China (ICBC) - Applicants must be between the age of 21 – 55 and the total repayment period combined with the applicant's age must not exceed 60 years (For Chinese customers, they must have a work permit in Thailand or other countries)- Loan currency in Singapore Dollars (SGD)- Receive loan-to-value amount of 70% from the purchase price of the property and the appraised value. (whichever is lower) The minimum loan amount is 1 million baht and the maximum loan amount is 7.5 million baht. For the asset value of more than 10 million baht, the maximum loan amount is 50% of the property value with the mortgage term from 3 – 15 years.
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- - Real estate must be the ones that foreigners can invest or buy for residential purposes in accordance with Thai law with a value of 2 million baht or more and locate in Bangkok and its vicinity, Pattaya, and Phuket.
- - Payback period from 3 – 15 years
- ICBC's General Mortgage Terms and Conditions:
- Industrial and Commercial Bank of China is a Chinese multinational banking company. They provide loan services known as “Foreigner Housing Unfunded Financing”, which is for real estate in major cities of Thailand such as Bangkok, Phuket, and Pattaya. They offer more privileges for mainland Chinese people.
- MBK Guarantee - Available in Bangkok and its vicinity and major provinces- Principal not exceeding 50% of the minimum value of 1 million baht- Payback period is from 1 – 10 years
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- - Loan currency in Baht
- - Available only for investment or residential purposes
- MBK's General Housing Loan Terms and Conditions:
- MBK Guarantee is another method for foreigners who would like to buy real estate in Thailand. MBK Guarantee is a mortgage service company operated by MBK Group, one of the leading department store operators in Thailand. The advantage of this service is that there are less requirements for foreigners. Permanent residence or work in Thailand are not required. There are no restrictions for any nationality. There is no need to marry a Thai spouse.
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- Kasikorn Bank Hongkong - Borrowers must be Hong Kong citizen with the age from 25 – 70 years with the income in Hong Kong- No maximum credit limit and maximum of 2 condominium per person- Maximum loan-to-value of 60% from appraisal value
- Conditions of each bank may be subjected to the changing situation. If you are interested to investing in real estate with foreigners in terms of renting or selling condominiums, feel free to consult Acute Realty anytime as we have experts available to give advice all the time. It also reduces time and the hassle of finding information. You will also get special promotion from us as well.
- - Loan currency in HKD
- - Payback period of 3 – 10 years
- - Freehold property in Thailand with selling price above 3 million baht
- Kasikorn Bank Hongkong's General Mortgage Terms and Conditions:
- Kasikorn Bank Hong Kong Branch is another way for Hong Kong residents who want to buy real estate in Thailand. The special advantage is that you can apply for a loan in HKD currency.