Loan

New Condo Mortgage Options Available 

The real estate market in Thailand just became significantly more accessible for foreigners. For years, the process of purchasing property in the Kingdom has been teeming with barriers, particularly when it comes to securing a mortgage for buying a Condo. However, a game-changing development has arrived: foreigners can now obtain condo loans to buy a condo in Thailand, specifically condominiums in Bangkok and Pattaya area. This breakthrough opens up a multitude of opportunities for foreign investors and expatriates alike. 

Current Property Loan Requirements in Thailand 

Traditionally, the landscape for foreigners wishing to buy property in Thailand has been quite complex. When purchasing a condominium, foreigners were required to present a document at the land office confirming that the funds used for the purchase were transferred into Thailand in a foreign currency. This mandate effectively prohibited Thai local banks from offering loans or mortgage solutions directly to foreign buyers. But now, after years of stringent financial regulations and limited mortgage options, an International Bank has stepped in to bridge the gap and provide property loans and mortgages specifically for foreigners. 

Who is Eligible for this Property Mortgage? 

The new condo loan solution is tailored for a wide range of foreign individuals, whether they are residing and working in Thailand or living abroad. Here are the key eligibility criteria: Foreigners Living and Working in Thailand:

• Minimum monthly salary: 170,000 baht
• Age: 21 to 65 years
• Minimum property value: 3,000,000 baht

Foreigners Living Outside Thailand:

• Eligible countries: Australia, Brunei, Canada, France, Hong Kong, Macau, India, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, UK, USA
• Minimum monthly salary: 220,000 baht
• Age: 21 to 65 years
• Minimum property value: 3,000,000 baht

Financing Terms for the Property Loan 

The International Bank offers structured financing options that make the buying process more manageable and appealing for foreigners. Here are the fundamental terms of the property mortgage: Purpose:

• Owner-occupied purchase: Buy a property to live in.
• Investment purposes: Buy property as an investment to generate rental income or capital appreciation.
• Refinancing: Refinance an existing property loan.
• Equity Term Loan: For existing Thai loan customers seeking additional funding.

Property Type:

• Eligible properties: Foreign Quota Freehold Condominiums
• Location: Bangkok and selected upcountry locations

Loan Volume:

• Loan Amount: Up to 60-70% of the purchase price or valuation, whichever is lower; up to 55-60% for foreigners residing outside Thailand.
• Minimum Loan Size: 2 million baht
• Interest Rate: Starting at 2.65% plus 3M SORA (approximately 3.7%)
• Loan Term: 3 to 30 years

Advantages of This New Property Loan Solution The introduction of an international property loan provider in Thailand signifies a significant advantage for foreign investors. Here are some of the benefits:

1. Increased Accessibility: The property mortgage enables more foreigners to invest in Thailand's real estate market, promoting diversity and economic growth.
2. Flexible Financing: Varied loan terms and competitive interest rates provide flexibility for different financial circumstances.
3. Investment Opportunities: With the ability to leverage financing, foreigners can invest in high-value properties in prime locations like Bangkok, potentially leading to lucrative returns.

Condo Loan is now available 

The new property loan and mortgage options for foreigners in Thailand symbolize a monumental shift in the country's real estate market. By easing the previously stringent purchasing regulations, Thailand is now more welcoming to foreign investment and expatriate residents. Whether aiming to buy a residence or make an investment, the availability of these property mortgages offers a promising avenue for foreigners to become a more integral part of Thailand's bustling property landscape. For more detailed information and to start your mortgage application process, contact the International Bank offering these unique property loan solutions. Don't miss out on the opportunity to invest in one of Southeast Asia’s most vibrant real estate markets. 

Other expenses:
Processing fee 1% of loan amount
Agent Handling Fee
Mortgage registration fee
Condo valuation