Loan Program Thailand
| Rate | Starting at 2.4% + Kasikorn MLR (Minimum Loan Rate is currently at 7.27%) Rates for Villas: 12% |
| Term | 1-10 years |
| Max LTV | 50% |
| Max loan amount | TBC |
| Second home allowed | N/A |
| Borrower type | Due to Thai foreign exchange regulations, our lender can only provide loans to purchase property to Thai individuals/Thai residency card holders or Thai companies with foreign Directors. * However, the workaround is that they do provide Thai baht loans to foreigners on properties currently owned. This means that if your client does not have a Thai residency card, they would need to purchase and transfer the property into their name first, then do an equity release and receive funds into their Thai account. |
| Loan costs | 1. Fee for Valuation: TBC (non-refundable) Upfront 2. Fee for Inspection: THB 10,000 (non-refundable) Upfront 3. 1% mortgage fee payable to Land Dept and Duty stamp of 0.05% of principal (max THB 10,000) 5. Fire insurance and life insurance (can be taken out of loan proceeds) |
| Annual fee | N/A |
| Lender fees | Half of the Lender's Fee of 1.25%, will be requested upfront to show commitment. (refundable) If the case is rejected, this fee will be fully refunded. If the loan is successful, it will also be refunded after first loan instalment. |
| Broker fees | 1.50% |
| Processing time | N/A |
| Requirements | N/A |
| Key selling points | N/A |
| Note | 60 days validity from approval to sign the loan agreements and register the mortgage. Signing will be done in
Bangkok. For loan approvals, 3 x the monthly instalment is normally more than sufficient income to qualify, minus any existing mortgage repayments etc. We just need the paperwork to show income. For prepayment penalty – first 3 years, 2% prepayment penalty on principal amount paid. There is no penalty after 3 years. |
| GMG contact | madel.tan@gmg.asia |