Looking for finance to purchase a property in Phuket?
In the past foreigners generally couldn’t raise a mortgage to purchase a property in Thailand from any of the Thai financial institutions. Mortgages were only readily available to Thai companies and Thai nationals.
As a foreigner you now have a couple of options;
– A leading bank is now reportably offering mortgage facilities to foreigners purchasing property in Thailand for retirement, 2nd home and business investment. Typically you can borrow up to a maximum of 50% of the properties purchase price or appraisal value, whichever is lower. The loan term can be set for a maximum of 10 years and can even be set up in your own currency providing it’s a currency acceptable to the bank.
– The more commonly used finance option for foreigners, is developers on the island offering an attractive extended repayment plan on the purchase of a property from them, however these are a select few.
For more information on a bank mortgage, or on developers that offer a repayment option please contact me through the “Contact” page on this website.