(Terms & Conditions)
THB Five hundred thousand
and its peripheral, key resort provinces
maximum age of 70*
Monthly installment
**Customer required to apply direct debit service at nominated commercial banks for loan repayment.
Interest & Fees
Interest
MLR+2.4% per annum* (refer to KBANK's MLR**)
(lower interest rates than the market)
Front-end
1.5% of loan size***
(Varied according to location min THB 20,000 per contract)
Mortgage Fee
1% of loan size, payable to Land Dept
Appraisal Fee
Subject to appraiser for setting loan size
Travelling Fee
Free of charge
Duty Stamp
0.05% of principal (max THB 10,000)
Fire Insurance
Subject to collateral value
Life Insurance
*Subject to loan size, max THB 10 million sum insured
Commitment Fee
2% of non loan disbursement
Prepayment Fee
2% of prepaid principal amount within the first 3 years. No fee after 3 years.
*For non life insurance (MRTA) and non direct debit, the rate will increase by 0.5% and 1% p.a., respectively.
Remarks :
The conditions above apply to loans only. In other cases, rates and fees may change.
Required DocumentsIndividual
- ID/Passport (valid for at least 6 months)
- Passport with valid visa (when required) and latest immigration entry stamp upon The Kingdom arrival
- Work Permit (If any)
- Marriage/divorce certificate (If any)
- Spouse consent to borrow / mortgage property
- Bank statements for 6 latest months
- Credit bureau reports from country of residence (valid within 3 months)
- Utility bill (electric, water, telephone)
- Others upon request
Property Documents
- Condominium title deed
- Condominium sale and purchase agreement
- Deposit/installment receipts (if any)
- Others upon request
Remarks :
-In case of non-permanent residence in Thailand, utility bill (electric, water, telephone) with permanent address abroad must be shown.
Corporate
- Company's official affidavit (valid within 3 months)
- Shareholder list (form Bor-Or-Jor.5) (valid within 3 months)
- Authorized director's ID/passport (valid for at least 6 months)
- Financial statement for last 3 years audited by CPA
- Tax return form for latest year
- Bank statements for 6 latest months
- Credit bureau reports from country of residence (valid within 3 months)(1)
- Others upon request
Also require:
- For certified true copy for all copy documents.
- Thai/English translations for documents in other languages.
- Color photocopy of passport is required.
Remarks :
Credit bureau reports of directors
-In case of the company has its director as a co-borrower using the company's asset as collateral, the director to sign all relevant loan agreement shall be another director who is no co-borrower to the loan.
Relevant Laws
Can a foreigner own condominium in Thailand?
Yes, if the foreigner is a resident in Thailand under immigration laws, or allowed to enter Thailand per the relevant BOI.
Foreign ownership limitation
A condominium unit can be owned 100% by foreigner(s).
Foreigner(s) in aggregate may own up to 49% of the total area of a condominium project.
Normally yes, but a foreigner who leases out a significant number of condominiums may be considered operating a rental business, in which case a Foreign Business License (FBL) is required.
Any person selling a condominium is subject to Specific Business Tax (SBT) at the rate of 3.3% unless the seller owns the condominium for a period of at least 5 years before the sale. Good news is the period can be shortened to just 1 year if the seller is registered in the house registration as a resident of that condominium at least 1 year before the sale.
To save taxes, if you are planning to sell a condominium, you might consider the approach above.
Typically, utility fees for condominium are charged at the normal rate without any surcharge. This is one of the advantages of owning a condominium. In comparison, if you lease apartments or a house, the landlord usually collects surcharge fees from you, which sometimes doubles or event triples the utility fees.
Before the previous owner can transfer the condominium to you, he/she has to pay all maintenance fees and utilities bills so that the condominium manager can issue a confirmation that the previous owner has paid all the fees. The confirmation from the condominium manager is requisite for the transfer of the condominium from the previous owner to you. With this mechanism, you can be certain that you do not have to pay any outstanding bills.
Yes, each condominium owner also shares ownership in common facilities, common area, and all amenities.
Pets are allowed in many condominium projects. That depends on regulations of each condominium project.
Frequently Asked Questions (FAQ)
Can a foreigner request a condo loan in Thailand ?
The request for a condo loan in Thailand for foreigners can apply for a loan whenever contacting TSG. Our staff are welcome to provide recommendations and prompt service.
What is the criteria of TSG’s condo ?
TSG grants condo loan with the following criteria:
-Freehold condominium located in The Bangkok Metropolitan region and tourist attracting provinces where located at downtown, adjacent to community with accessible transportation.
-Nice scenery and well maintained.
What is the maximum loan amount that TSG can provide?
TSG will make a loan up to 60% of the appraised value.
Who can be TSG’s borrower?
-No restriction about nationality.
-Age up to 70 years is still eligible.
-Permanent residence and employment in Thailand are not required.
-There is sufficient net income to be able to pay installments.
What are the required documents?
See the link require document. Required Documents
When can the loan be disbursed?
Within 10 working days (after received the appraisal report and completed required documents).
What is the loan expense?
See the link Interest & Fees. Interest & Fees