Mortgages for Foreigners in Thailand to Buy A Condominium
Mortgages are now being offered to Thailand-based foreigners who want to buy a condominium unit. Branches of Bangkok Bank can initiate loan applications that, if successful, will eventually come through its Singapore office.
The Bank requires borrowers to buy condo units priced above or at least 9.64 million baht or equivalent, while offering a credit line of around 70% of the price but not lower than $200,000 or equivalent.
Loans are available in three currencies, US dollars, Singapore Dollars, and Euros.
Mortgage Rates depend on the currency.
- US Dollars, 5% plus 1.5% per annum
-Singapore Dollars, 6% plus 1.5% per annum
-Euros, 6.5% plus 1.5%
The maximum term loan is 20 years.
(Source: Big Chilli, 06/08)