| Financing Condominium Property |
|
Financing of Residential Property in Thailand
Purpose: To finance the purchase of freehold condominium property in Thailand
Loan Quantum: up to 70% of the purchase price
Maximum loan amount: USD 8000,000 or equivalent amount
Minimum loan amount: USD 100, 000 or equivalent amount
Note: Drawdown quantum shall be the lowest of
- amount as per approved limit
- Up to 70% of purchase price of property, when converted at our prevailing exchange rate upon drawdown
- 90% of appraised value upon completion (For property under construction) or up to 70% of appraisal value (For completed property) by our appointed valuer
|
|
Security: Legal mortgage of property to be financed
Loan Tenure: Max 20 years
Currency: The loan shall be dominated in SGD, SUD, EUR, JPY
Interest Rate (Subject to Changes at Bank’s Discretion)
Loan in SGD – Bangkok Bank’s Prime Lending Rate per Annum (currently 6%)
Loan in USD-USD Prime + 0.5 % per annum (currently 8.25% + 0.5 % = 8.75%)
Loan in EUR-EUR Prime +1% per annum (currently 7.25% + 1% = 8.25%)
Loan in JPY – JPY Prime + 1.25 per annum (currently 2.85% + 1.25 % =4.10%)
Repayment: Repayment of principal and interest is by monthly installment and to commence once month from date of disbursement of loan.
Drawdown: Loan shall be drawdown only upon payment by the borrower of the difference between the purchases price and the loan amount, subject to completion of loan documents and fulfillment of the conditions precedent
Prepayment: Prepayment of loan allowed subject to payment of 1.5% flat rate on the loan amount to be prepaid
Processing Fee: Processing Fee of USD 1,750 is payable in two stages;
- USD 150 or its equivalent is payable upon submission of loan application. This sum of USD 150 is non-refundable
- USD 1,600 or its equivalent is payable upon acceptance of our letter of offer
Amendment Fee
Additional non-refundable fee of USD 120 or its equivalent shall be imposed for re-process of application if there’s any amendment to the loan request after the approval of facility.
|
Expenses
All expenses such as legal/mortgage costs/valuation fee and fire insurance premium etc shall be payable by borrower
- Completed Mortgage Loan Application Form
- Copy of I.D. card (front and back)/passport (essential pages)
- Signed copy of Sales and Purchase Agreement or Reserve Agreement
- Band’s reference letter addressed to Bangkok Bank Public Co Ltd confirming banking relationship, conduct type of account and size of loan/deposit with the bank
- Last 6 months bank statements
- Credit Bureau Report from country of residence
- For Salaried Individuals; Employer’s letter addressed to Bangkok Bank Public co Ltd confirming position, Years of Service and remuneration/ Last 2 years’ income Tax return/ Last 6 months’ computerized pay-slip
- For self-employed Individuals; Last 2 years’ Balance Sheet Profit & Loss Statements/ Last 2 years’ Income Tax Return
- Other upon request
Note: Approval of loan is subject to evaluation of applicant’s financial standing, repayment ability and at the bank’s discretion. Above terms are subject to changes without prior notice.
See also:
 UOB Bank Financing Procedures
Buying a Condo in Thailand
Selling your Condominium
For enquiry, please contact: Waraporn Brand-Srinaka (Nhu) Tel: (65) 64100406
Fax: (65) 62218533
Email: hl.sg@bbl.co.th
Bangkok Bank Public Company Limited
180 Cecil Street, Bangkok Bank Building, Singapore 069546. Tel. (65) 64100400
Fax (65) 62255852
|
|
|
