Highlights
- Interest charging at effective rate.
- Friendly to NCB client.
- Faster, cashed within 7 days after approval.
- Finance against commercial or residential property.
Terms & Conditions
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Principal
Up to 50% of valuation, minimum THB 5 million.
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Collateral
Land plot in Bangkok and its surrounding areas, key resort provinces, and large provincial areas.
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Term
Up to 3 years
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Principal Repayment
Minimum 20% of original principal each year.
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Interest Payment
Deducted in advance for the contract period or at least 1 year upon loan drawdown. Unused prepaid interest will be refunded in the case of early principal repayment.
Interest & Fees
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Interest Rate
Fixed rate at least 12% per annum.
Fees
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Upfront
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 first loan drawdown).
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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 10,000 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.
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Life Insurance
Subject to loan size, max THB 10 million sum insured.
Land Criteria
- Freehold title deed only, do not accept right of possession such as Nor Sor 3 Kor or leasehold.
- Beachfront or downtown collateral considered.
- Land plot must have a minimum width of 12 meters and exit to the public road at least 6 meters.
- Land plot must not exceed sea level by 80 meters and will not be considered in the case of a slope exceeding more than 30 degrees.
- Land plot must have utility (electric, water, telephone signal etc).
- Land plot must not be under development or construction.
- Land with commercial properties. All subject to company’s discretion and should be consistent with company’s business.
- Income producing asset.
Required Documents
Individual
- ID/passport * (valid 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
- Others Upon request
Remarks :
Corporate
- Company’s official affidavit (valid for at least 3 months)
- Shareholder list (form Bor-Or-Jor.5)
- Authorized director’s ID/passport **** (valid for at least 6 months)
- Financial statement for last 3 years audited by CPA
- Tax return form
- Bank statements for 6 latest months
- Credit bureau reports from country of residence (1)
- Others upon request
Remarks :
Property Documents
- Title deed.
- Appraisal report by preferred appraiser*
- Others upon request.
Remarks :
Also require :
- Signature for certified true copy for all copy documents
- Thai/Eng translations for documents in other languages
