Bank finance for a house purchase
In about four years I want to come to Thailand to retire. I want to buy a house for my spouse to be. I am looking to finance the purchase through a Thai bank, in her name this is to be her house. I would pay off the loan in the usual manner over four years.
Asked on Friday, February 9, 2001 | 02:18 AM
Peter Kaufmann, Perth, Western Australia
Yes, you may borrowed money from a Thai bank using your wife’s name. But the bank must see how much income she earns. It must be more than 20,000 baht a month. Alternatively she and her partner must show that they have a combined income of more than 20,000 baht per month. You have to prove to the bank that you really do have income. She needs to bring her ID card, house registration paper, and a bank statement that shows that either she or both of you together will be able to pay off the loan.