Commercial Loans & Mortgage Finance Available in Thailand
FINANCIAL SERVICE 1: Finance to foreigners on freehold condominiums
A major Thai institutional group / company is now offering finance to foreigners on freehold condominiums through its. This appears to be an extremely notable development in Thailand, where previously financing was nearly impossible to obtain for foreigners.
Loans from THB 2 million to THB 20 million (USD 63,431- USD 634,313) are being offered with monthly payments from 2 - 10 years for all foreigners - including non-residents. Interest is set at a minimum lending rate (MLR) of Thai Bank plus 2% (roughly 8.375 per cent floating), and there is an option for a balloon payment at the end of term of 50 per cent.
The company says no income or work permit is required to obtain a loan, but the property must be in prime locations of Bangkok, Hua Hin, Cha Am, Pattaya, or Samui.
FINANCIAL SERVICE 2: Commercial Loans & Mortgage Finance for all types of properties.
The company is also offering mortgages in order to refinance properties. With the mortgage financing, credit is based on the value of the property not cash flow from a business (up to THB 5 billion). These financial services are available to both "Foreigners & Thai nationals".
All types of properties will be accepted; including raw land, SDH, villas, and leasehold properties will be eligible. Interest rate will be set at the MLR from Thai Bank plus 5.625 per cent, or roughly 12 per cent floating. Tenor is up to three years and principal payment is not required during loan period.
Importantly, Garden Island acting as your facilitator will charge NO upront fees. Our remuneration is payable when the loan has been approved & Borrowers funds have been received!
Conditions & procedure will be disclosed at time of initial enquiry.
If you require a customized "Client-Orientated" solution to a loan requirement you are cordially invited to contact us.
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