Are mortgages available to purchase property in Thailand?
Mortgages for foreign nationals are not widely available. However, Bangkok bank is keen to assist foreigners who wish to purchase property in Phuket. They offer a small range of mortgages payable over 10 years through their Hong Kong, Singapore and Phuket branches. The bank requires a down payment of at least 50% and will lend a maximum of 600,000 US$. Alternatively it may be possible to obtain a mortgage secured on property in your home country. Many leading European banks now offer this faciltiy. Some developers on Phuket Island offer long term payment plans for house purchase, extending payment over 5 or even 10 years with a 50% down payment.
