Rangsit is a metropolitan city in the PathumThani province of Thailand, which supports the expansion of Bangkok in the north. Here you find many foreigners wanting to obtain a mortgage from local Thai banks to finance the buying of a Thailand property investment. However, this is not possible as most financial institutions in the country only provide loans to support the buying of real estate properties to Thai nationals and Thai companies only. Therefore, they need to marry or negotiate with a Thai national to have rights on buying a ทาวน์โฮมรังสิตas their residence in Thailand.
In recent years, a Bangkok Bank (Singapore) offered a loan programme for foreigners with qualifications similar to those in the west. There is a need to accomplish an application and submit proof of income, tax returns and other documents. In this program, a buyer can finance up to 70% of the purchase price of a desired ทาวน์โฮมรังสิต. However, the programmeis not consistently offered, and as of this writing, the program had been suspended.
In few resort areas like Pattaya, local banks have started to design a loan programme for foreigners who reside and work in Thailand. Kasikorn Bank, for instance, allows expatriates who possess a work permit for two or more years to acquire a mortgage financing of up to 50% of the value of the subject property. The programme had been launched early 2010.
With the current global financial situation, a foreigner may need to explore his or her options directly with the Kasikorn Bank, Bangkok Bank and other lending institutions to identify their current status of any loan programmes which are best suited for foreigners.
The foreigner may be obliged to engage in an investment with a Thai company and get rights to own properties in Rangsit; or they can marry a Thai national and together decide to buy a property like a ทาวน์โฮมรังสิตto serve as their residence. They just need to inform the Thai government that they have purchased a property here and will coordinate with their Thai spouse or business partners regarding documentations.
Other options are still available for you to obtain a Thai mortgage just to buy your dream ทาวน์โฮมรังสิต, so you need not worry.