Thailand’s property market is becoming more and more attractive as time goes by and this is being reflected by changes that are occurring in the financial world.  These changes are due to the demands and needs of the investors and the security of purchasing a property in Thailand.

There are now 3 options available to UK residents wishing to buy their exclusive home(s) in Thailand:

• Cash purchase from investors savings/cashflow
• Equity release/secured loan against their UK property
• NEW – Bank of Bangkok offering mortgages for property investments in Thailand.

Through our network of financial partners we can put you in contact with the correct representative to answer any of your questions.

Windsor International Properties Limited has also put together some commonly asked questions in regards to the Bank of Bangkok mortgage:

Loan Amount
Up to 70% of purchase price

Currency
The loan can be denominated in Singapore Dollars (SGD), US Dollars (USD) or any other currency acceptable to the Bank

Interest Rate
Loan in Singapore Dollars – Bank’s Prime Lending Rate per annum
Loan in US Dollars – Bank’s USD Prime Lending Rate + 1% per annum
Loan in other currencies – To be advised

Repayment
Repayment of the principal and the interest is by monthly installments and commences one month from the date of 1st disbursement of loan

Drawdown
Upon payment by the borrower of the difference between the purchase price and the loan amount, subject to completion of all documentations.

Prepayment
Allowed subject to a payment of 1.5% flat fee on the loan amount being prepaid

Processing Fee
A fee of 5000 SGD (approx. £1,700) or an equivalent amount payable upon acceptance of their letter of offer and 2000 SGD (approx. £700) or equivalent shall be refunded upon drawdown of the loan.

The details outlined above are for information purposes only and does not constitute advice.  The content is based on our understanding of current legislation and regulations at the time of writing (December 2005), which may change without prior notice.