For the last two weeks we've been covering the legalities of home financing for foreigners in Thailand. Last week we contacted several big Thai banks and asked them whether they offered loans to foreigners to purchase property and, if so, on what terms.
Of course, these banks can change what they offer whenever they want as long as they conform to Bank of Thailand criteria discussed in an earlier article. Also, we contacted individual officers at these banks, and there's no guarantee what they said was accurate. Thus there's no substitute for talking to the banks directly when looking for a loan, but the information here provides a general idea of what's available.
Most Thai banks don't lend to foreigners. The ones we talked to who would are Siam Commercial Bank, Kasikorn Bank, UOB and Standard Chartered Bank. And the foreigners who are recipients of the loans have to be working legally in Thailand at the time the loan application is made. The others we contacted may loan to a Thai spouse of a foreigner, even if the Thai spouse isn't creditworthy, so long as the foreign spouse guarantees payment.
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