LOANS  FOR  PROPERTY  PURCHASES
Some  Banks  Are  Now  Making  It  Easier

In the past, obtaining a loan from local financial institutions was virtually impossible if you were a foreign national residing in Thailand, but within the last few years, things have certainly changed. Some banks have come to the realization that whilst some expats do not have the amount of cash to spare in the purchase of a residence, they certainly do have a very secure and regular inflow of funds, either by way of a monthly pension, or return on investments, that they have made previously. The lack of ready cash has been compounded by the fact that those who are on retirement visas have to hold a sum of 800,000 baht in a Thai bank account, (or 400,000 baht if they have a Thai spouse), so this may limit them a little in buying a residence for their retirement.

 Bangkok  Bank  Leads  The  Way
     The leader in this type of financial service appears to be Bangkok Bank, who seem to be going to great lengths to provide exceptionally good services for foreign expats in all areas of banking. They are one of the few Thai banks who quickly saw the advantages of catering to the needs of the foreign expat community, who are generally speaking, quite well off financially. Whilst many of these foreign residents may not have huge amounts of cash reserves in Thai bank accounts, they often have money invested overseas, or are on a very good retirement pension. In both of these cases, the regular income of these people is 100% ‘rock solid’ and very secure, as the payments are coming from government institutions or some of the largest financial companies in the world. It was with these facts in view, that some of S.E. Asia’s largest banks perceived that making housing & property loans to such clients was indeed a very safe banking practice.