Highlights
- Faster than commercial banks
- Loan size subject to market price
- Interest charged on outstanding balance
- Payable over up to 3 years
- No hidden costs
- Redeem collateral anytime
- Client confidentiality is a priority
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Loan Size
Up to 50% of valuation, minimum THB 5 million and uncapped maximum
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Term
Up to 3 years
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Principal Repayment
Minimum 20% of original principal at the end of each loan year, remaining principal paid on the last installment
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Interest Payment
Paid in advance for at least 1 year upon loan drawdown. Unused prepaid interest will be refunded in the case of early principal repayment.
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Interest
Fixed up to 12% per annum
Fees
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Front-end
1.5% of loan size (one time upon loan drawdown)
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Prepayment
2% of prepaid principal amount (upon every loan prepayment)
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Commitment
2% of non loan disbursement (upon contract signing, refundable)
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Renewal
1% of loan size (upon contract renewal)
Other expenses
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Mortgage Fee
1% of principal (max THB 200,000/time except for condo unit)
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Inspection Fee
Up to THB 10,000/visit (as per distance) for travelling expenses
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Appraisal Fee
Subject to appraiser for setting loan size
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Travelling Fee
Up to THB 12,000 depending on distance for mortgage registration at the Land Department
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Duty Stamp
0.05% of principal (max THB 10,000)
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Fire Insurance
Subject to collateral value
- Accept only chanote title deed of land plot or condo (no leasehold or other possessory right in any forms)
- Acceptable areas in Bangkok and peripheral areas, and the areas in the city of Chonburi, Rayong, Hua Hin, Cha-am, Surat Thani, Phuket, Chiangmai, Phitsanulok, Nakhon Ratchasima, Khon Kaen, Udon Thani, and Ubon Ratchathani are within the 5 kilometers radius around the city.
- Unacceptable areas include agricultural, industrial, forestry areas, national forest reserves, national parks, Khao Yai areas, areas with sound and odor pollution, areas near energy sources, areas with well deeper than 5 meters, or high-voltage cables more than 20% of the area.
- The land plot must have a minimum width and width of the road on a plot of 6 meters, with the access way not less than 6 meters, and can be developed as a commercial or residential project.
- The land plot must not exceed sea level by 80 meters and will not be considered in the case of a slope exceeding more than 35 degrees.
- The land plot must have utility (electric, water, telephone signal etc.)
- The land with commercial properties are all subject to company’s discretion and must be in ready-to-use condition with proper construction permit and not contrary to any law.
- Properties under construction or incomplete and land plots in the housing estates are not accepted.
- The housing project under Land Subdivision Act will get a loan up to 2/3 of the government appraisal value.
- ID/Passport* (valid for at least 6 months)
- 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)
- Others Upon request
Remarks :
- 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
Remarks :
Property Documents
- Title deed
- Appraisal report by preferred appraiser*
- Others upon request
Remarks :
Also require :
- Signature for certif ied true copy for all copy documents
- Thai/Eng translations for documents in other languages