Bank

Condominium Foreign Buyers able to apply for a Loan in Thailand? Update 2021

Update COVID-19 February 2021 – Thailand Foreign Housing Loan:

Currently ICBC Bank Thailand offers only foreign housing loan in HKD, available for Hong Kong citizens only.
Right now ICBC Bank Thailand is not able to accept cases if not working in Thailand due to the current COVID 19 situation. After the COVID-19, they may assess the criteria again.

UOB Bank has new temporary criteria. Customers applying for a Thai International Home Loan program with UOB Bank during Covid-19 containment requires UOB relationship.

As a foreigner non-resident in Thailand purchasing a condominium for own-use or investment purposes, I am able to get finance or a property loan when purchasing a property in Thailand? This question is often rising when thinking about buying a property in Thailand. The team at Keller Henson is here to help you answer this question.

Foreigners non-residents in Thailand are able to process a loan application for a purchase of freehold condominium in Thailand. Nevertheless the criteria are a bit specific. Keller Henson team will help you to analyze the foreign housing loan application conditions in Thailand. Do not hesitate to contact us in case you would like to get more details and assistance regarding any question you might have.

In this article we will describe the main criteria regarding finance for a condominium in Thailand as a foreigner non-resident. Then compare the finance options. We will end by an analyze in details for each loan option.


Keller Henson – Summary of Foreign Housing Loan in Thailand:

  • 2 Banks in Thailand offer finance to foreign purchaser of condominiums: UOB Bank Thailand and ICBC Bank Thailand.
  • 1 international finance company offer finance to foreign purchaser of condominium in Thailand: Easy Home Global.

Below you can have a look of the main criteria regarding the finance for a condominium in Thailand as a foreigner non-resident:

  • Age 21 – 65 years old.
  • No fixed interest rate, variable interest rate.
  • Freehold condominium with minimum value THB 3 Million.
  • Financing areas: Bangkok and selected upcountry locations.
  • Maximum 70% Loan to Value.
  • Minimum Loan amount THB 2 Million.
  • 30 years loan tenor maximum.
  • 3 years loan tenor minimum.
  • Preferentially stable income and good credit.
  • Minimum income of approx. 100,000 SGD per year.
  • Loan available in SGD, USD and HKD.
  • Interest rate is quite high (minimum 3M SIBOR + 3.60%).
  • The eligibility is limited according to the applicant’s residence country: Australia, Brunei, Canada, France, Hong Kong, Macau, India, Indonesia, Japan, Malaysia Myanmar, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, UK and USA.

Can I get finance in Thailand for a Off Plan condominium? Can I apply for a loan in Thailand if my condominium is under-construction?


In Thailand, the loan application for off plan properties and under-construction condominiums can only be done few months before project’s completion date. Once the project has been registered as condominium and the title deed has been issued.


Foreign Housing Loan Comparison in Thailand. Update 2021

Foreigners non-residents in Thailand are able to process a loan application for a purchase of freehold condominium in Thailand. Nevertheless the criteria are a bit specific. Keller Henson did a brief comparison of the Foreign Housing Loan criteria in Thailand with ICBC Bank and UOB Bank for you to easily decide which Bank suits your needs at best. Do not hesitate to contact us in case you would like to get more details and assistance to answer any question you might have.


Foreign Housing Loan Comparison in Thailand. Update 2021
Update February 2021ICBC Bank ThailandUOB Bank
Thailand
Easy Home Global
(Hong Kong)
Eligible Applicant:Non-residents
(HK Citizens only)
Non-residents
(Limited per country)
Non-residents
Age:21-55 years old21-65 years old21-60 years old
Property Type:Freehold condominiumFreehold condominiumFreehold condominium
Property Value:Min. 2,500,000 THBMin. 3,000,000 THBMin. 1,000,000 HKD
Loan To Value:Max. 70%Max. 70%Max. 50%
Loan Amount:Min. 1,500,000 THBMin. 2,000,000 THBMin. 500,000 HKD
Loan Tenure:3-15 years3-30 years3-10 years
Interest Rate:Min. 5.25%
Max. 3M SIBOR + 6.00%
Min. USD Prime + 2.75% / 3M SIBOR + 3.60%
Max. USD Prime + 3.75% / 3M SIBOR + 6.00%
Average 4.99%
Currency:SGD / HKDSGD / USDHKD
Foreign Housing Loan Comparison in Thailand. Update 2021

Here are below the details for a loan application with 2 International Banks offering Foreign Housing Loan in Thailand: UOB Bank Thailand and ICBC Bank Thailand.


UOB BANK – 2021 International Property Loans Thailand details (updated February 2021):

Update COVID-19 February 2021:

UOB Bank has new temporary criteria. Customers applying for a Thai International Home Loan program during Covid-19 containment requires UOB relationship.
1/Existing UOB Relationship:
Min. 1 year with UOB AND Min. monthly balance of SGD 120,000 (or ~THB 3,000,000)
This is based on min 1 year with UOB Singapore, UOB overseas branches, subsidiaries or representative offices.
2/New UOB Relationship:
Deposit pledge SGD 120,000 (or ~THB 3,000,000) or 10% of purchase price (whichever is higher) for 1 year with UOBS, UOB overseas branches, subsidiaries or representative offices.

With the UOB Bank Thailand, the eligibility for a foreign housing loan is limited according to the applicant’s residence country:

  • Australia, Brunei, Canada, France, Hong Kong, Macau, India, Indonesia, Japan, Malaysia Myanmar, Philippines, Singapore, South Korea, Taiwan, Thailand, Vietnam, UK and USA.

At UOB Bank Thailand, the loan is available either in SGD or USD currency.

  • With a loan in SGD currency, 3 different mortgage interest rate are offered. The mortgage interest rate will vary according to the minimum loan amount.
  • With a loan in USD currency, 1 single type of mortgage interest rate is offered.

UOB BANK – 2021 International Property Loan Thailand details:

  • Eligible Applicant: Non-resident (limited per country)
  • Age: 21 – 65 years old
  • Property Type: Freehold condominium
  • Property Value: Min. 3,000,000 THB
  • Loan to Value: Max. 70%
  • Loan Amount: Min. 2,000,000 THB
  • Loan Tenure: 3 – 30 years
  • Interest Rate: Min. USD Prime + 2.75% / 3M SIBOR + 3.60% — Max. USD Prime +3.75% / 3M SIBOR + 6.00%
  • Currency: SGD/USD
UOB BANK – 2021 International Property Loans Thailand details

ICBC BANK – 2021 Foreigner Housing Loan Thailand details:

Update COVID-19 April 2020 – ICBC Bank Thailand Foreign Housing Loan:

Currently the ICBC Bank’s policy changed a bit.
Right now ICBC Bank Thailand is not able to accept cases if not working in Thailand due to the current COVID 19 situation. After the COVID-19, they may assess the criteria again.
Currently ICBC Bank Thailand offers only foreign housing loan in HKD, available for Hong Kong citizens only
.

ICBC BANK – 2021 International Property Loan Thailand details:

  • Eligible Applicant: Non-resident (HK citizens only)
  • Age: 21 – 55 years old
  • Property Type: Freehold condominium
  • Property Value: Min. 2,500,000 THB
  • Loan to Value: Max. 70%
  • Loan Amount: Min. 1,500,000 THB
  • Loan Tenure: 3 – 15 years
  • Interest Rate: Min. 5.25% — Max. 3M SIBOR+6.0%
  • Currency: SGD/HKD
ICBC BANK – 2021 Foreigner Housing Loan Thailand details

Easy Home Global – International Property Financing

Easy Home Global offer finance for international property purchase. This finance company is established in Hong Kong. Easy Home Global offers financing to foreigner non-resident in Thailand purchasing a condominium for own-use or investment purposes.

  • No requirement for permanent residence or employment in Thailand
  • Any nationality welcome to apply.
  • Borrower’s age at the end of the contract cannot exceed 70 years old.
  • Financing area: Condominium and Service Apartment in Bangkok
  • Loan to value: up to 50%.
  • Loan tenor: up to 10 years. Minimum 3 years.
  • Currency: HKD.
  • Minimum property value 1,000,000 HKD.
  • Minimum loan amount: 500,000 HKD.
  • Mortgage interest rate average 4.99%
Easy Home Global – 2020 International Housing Loan Thailand details

Check our blog post – Foreign Housing Loan Comparison in Thailand

Got a question?

Our specialists have the answer! Get in touch now.