QUESTIONS & ANSWERSCatégorie: BankingHow to get finance for a house by a bank in Thailand
Anonymous demandée il y a 2 ans

Hi,
My Thai friend would like to buy a house in Thailand.
But, currently, she is not working.
Is there any other option for her to purchase a house?
I understand that bank requires bank statement for the last 6 months and also pay slip (salary certificate).
Is there other alternatives such as personal guarantee from friend (overseas friend) that she is able to pay monthly fee?
She is able to pay for down payment. Only that she is not working yet.
Thank you and best regards

Sebastian Brousseau personnel répondue il y a 2 ans

If you fully pay, there is no problem. But if you are looking for a bank to finance, it might be VERY difficult as she does not work. Maybe they will accept you as GUARANTOR but you and her have to discuss with the bank.

Each bank is different but normally, they do ask 6 months of bank books. Now, if you have millions in bank accounts, do understand they won’t ask you 6 months of pay slips.

Alternatives are normally a guarantor, like previously mentioned. They will tend to seek for a Thai person because they will think the Thai person has more garanties. If you have a person working for the government that can sign, that will also help (teacher, policeman, etc). For banks, a foreigner can fly out of the country and never return. What banks want, is to protect their money. And make profits! 🙂

You can also pay more on the cash down payment. So your finance amount will be lower and the bank will protect itself with the full property.

All this must be negotiated with the bank.

Sincerely.

Sebastian for Isaan Lawyers

Sebastian Brousseau personnel répondue il y a 2 ans

If you fully pay, there is no problem. But if you are looking for a bank to finance, it might be VERY difficult as she does not work. Maybe they will accept you as GUARANTOR but you and her have to discuss with the bank.

Each bank is different but normally, they do ask 6 months of bank books. Now, if you have millions in bank accounts, do understand they won’t ask you 6 months of pay slips.

Alternatives are normally a guarantor, like previously mentioned. They will tend to seek for a Thai person because they will think the Thai person has more garanties. If you have a person working for the government that can sign, that will also help (teacher, policeman, etc). For banks, a foreigner can fly out of the country and never return. What banks want, is to protect their money. And make profits! 🙂

You can also pay more on the cash down payment. So your finance amount will be lower and the bank will protect itself with the full property.

All this must be negotiated with the bank.

Sincerely.

Sebastian for Isaan Lawyers