Mortgage refinance

@demolitionman55

Either you or your wife need to have an income and in all cases you will be the guarantor.

Banks are the only places to go for re-finance, some companies advertising this, are bank supported

I think if you google you can find all the rates, the lowest will be the Thai Government Saving Bank, that helps the poorer people

So, less requirements and a lower interest rate

All banks will always try to sell you additional expensive insurances, like health and risk insurances, which you just must say no too

T&C differ between banks and length of the mortgage depends on your wife her age.....

Good Luck

There are agencies that do rent to own plans. The one i know has a unique early re-payment plan . They also do swops , where somebody wants to upgrade to a bigger place and sombody else wants to downgrade. The upgrader uses their property and an agreed amount in cash to be paid to the downgrader; Its may be another way to refinance by downgrading and moving into a smaller property.

Hire Purchase is done in Thailand but the problem is that you need to have a Thai partner at the end of term for ownership as foreigners cannot own house with land.

Mostly the terms are short, not like banks for 20-30 years so you will have a higher monthly payment

A typical hire-purchase would be around 10-15 years.

You need to bring your own lawyer to the table for the contract......

@martinoo2002 Thank you kindly.

Real Estate Agencies can do ”rent to own” plans over 3,5 or 10 years. This depends on deposit and monthly payments the person can afford. Interest varies form 7 %to 6% and 5% respectively.  These contracts are lodged at the Land Office in both the buyer and sellers names for a fee of 1%. Transfer of single ownership to Buyer when payments finalised . So after 5 years the Land tax will be at minimum of 2%. Paid jointly or by seller. Line me at *** for more details.

@howard2

MLR in Thailand is 7.0% so how can you offer lower or equal to that??

How will you transfer the land to the foreigner after loan has been paid in full?

Are you providing leasehold?

This is a payment plan, without bank. These are the interest rates charged to the buyer based on the loan duration.

During the payment plan ”Rent to Own” yes it is deemed a Leasehold contract.

The transfer after full payment when received by Seller, is done at the Land Office in the normal way, from seller to buyer. Leasehold depends if condo is Thai or Foreign quota. If Foreign quota then its deemed Freehold.

If property is Thai quota (houses and villas are in any case deemed Thai quota, as expats cannot own land) the norm is to set up a company in the name of the Buyer who has 49% shares and the Thai Business partner/s holding 51%.

How can they/you process a collateral loan if it is not a bank and hence they have not permit??

Where is the security for the borrower that this money is white wash or similar sources which

could be confiscated including the properties and leave the borrower no rights?

So the business is only working with a condo as land cannot be transferred to Thai other then through inheritance where he/she has one year to sell the land/property

But Houses/Villa's can be held by foreigners, it needs a separate chanoot for the land either in leasehold or by a Thai partner.

On the company, nominees is against the law and just yesterday there was this in the newspapers

https://www.bangkokpost.com/thailand/ge … i-nominees

it is a payment plan between seller and buyer. “Rent to own” payment plan.

At land office for a fee of 1% the property is registered in both the buyer and seller names using the payment plan contract as reference document. The chanoot is updated with both the seller and buyer names on it. The buyer is protected as the seller cannot transfer to a third party. When the property is fully paid the property is then transferred to the buyer.

Its best to transfer and have a payment plan contract for 5-years to minimise the tax.