Mortgages in Thailand

Property in Thailand 

The relatively undiscovered nature of Thailand means that property prices in Thailand remain well below those of other worldwide locations. Thailand property provides a profit-rich environment, boasting some encouraging capital growth figures of around 10-15% per annum. Today, many buyers are discovering the great potential Thailand offers as an excellent real estate investment opportunity.

About Thailand property 

Certain condominium buildings allow for foreigners to purchase condos in free hold (fee simple). The condominium buildings are located in specified metropolitan areas and may have limits on the amount of units available for sale to foreigners. For other Freehold property/land ownership Foreigners can form a Limited Company and register the land as owned by the company. The foreigner can personally own maximum 49% of the company shares, and the remaining 51% must be in the names of Thai nationals. The foreigner is named sole executive director in the company's Articles of Association, and the Thai shareholder nominees all sign undated Share Transfer Contracts at the time the company is being registered. This effectively puts 100% control of the company and its assets in the hands of the foreign director. 

Mortgages available in Thailand to Non-Residents

There are no non-status/ self-certification mortgage facilities available, therefore all loans need to be supported by a minimum of, proof of income. If you are employed, you will need to produce, your last six months payslips, P60/employers reference and your last 6 months Personal bank statements. If you are self-employed you will need copies of your Audited Accounts together with you last 12 months business, and 6 months personal bank statements.

Buying Advice 

Before you enter into any property purchase you should consider the following things:-

Appoint a good lawyer who can carry you through the process till completion

Only buy what you can afford. Do not overlook Foreign Currency Fluctuations and all closing costs.

Make sure you have a good Idea of what mortgage you will be able to secure prior to entering into any contract to buy

Remember that when taking out an overseas mortgage you will have to declare full details and your assessment will be made on the affordability to pay and not income alone

Thailand resouces

Clicking on any of the following links will open a new window.

Tourism authority

Travel Information

CIA - The world factbook

Thailand.com website

Bangkok Post