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  1. #26
    Can I still change this?
    Bogon's Avatar
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    Had a quick peep, but after a basic search, I cannot find the developer.

    If you know who are building it (for example, Sansiri, Land and House etc), then you can ask which bank they are working with and go from there.

    Not the best information, I know, but it's all I've got.
    Black diamonds? I shit 'em.

  2. #27
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    rickschoppers's Avatar
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    Blue Horizon is the developer and Best Western has contacted to manage rental. Both are very large companies.

    Blue Horizon is working with Bank of Bangkok which is my wife's bank.

  3. #28
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    Quote Originally Posted by AndyCap View Post
    Down payment is a discussion point,messier from 30% upwards

    Security

    Type of property planned, value, location.

    Still all easier with a contact on your side in the bank, not difficult, when you get there sound the people out, my ball and chain always manages to find somebody from her Ho,e area, related to her uncle sids dog, etc.

    It's a process similar to the West or Oz.

    You will be asked for all sorts of documents, don't ever try to understand any logic in this part...stay calm copy and sign, years ago I had to make 10 copies of every page in my passport, then sign them all...it's got better, but can still be a little trying.

    Good luck with it

    Parky
    Thanks! Yes we are looking at 50% down payment, so no worries there.

    Been there, done that on the copies for a vehicle, LOL. I now have scan all documents, overlay them with a box with the disclaimer of purpose and my signature and print the required number of copies in color.
    Cheers!

  4. #29
    RUSH HER TODAY
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    Financing a Thai wife via house?

    I hope no silly bugga sends her a Monopoly board I told her I got 4 houses and a Hotel , lucky I got my get of jail cash in Zimbabwe dollars

  5. #30
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    Quote Originally Posted by david44 View Post
    Financing a Thai wife via house?

    I hope no silly bugga sends her a Monopoly board I told her I got 4 houses and a Hotel , lucky I got my get of jail cash in Zimbabwe dollars

    Financing through a Thai wife is perfect. That way other than the down payment the bank holds the risk if things go wrong. If things go right you pay interest obviously but should you get kicked out your wife has a big debt to pay without you. The debt is almost like property insurance.

    If the loan runs past your current life expectancy all the better.

  6. #31
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    Financing would be a great way to buy a house with a Thai girlfriend. Put the minimum down possible and make sure it's solely in her name. (It's hers anyway regardless if you're included.) So long as the relationship goes well you make the payment. If it turns bad you split and only lose your down payment.

    Also a great way to look after a faithful Thai companion who is obviously going to long outlive a retired foreigner.

    I can't understand why Thai banks are so willing to lend on cars which depreciate and are often destroyed, compared to a security in a house that usually appreciates and is seldom destroyed.

  7. #32
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    Jack meoff's Avatar
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    Can any financial savvy members explain the 7% return on rentals here?

    In addition to making the perfect holiday home, The Beachfront offers exceptional opportunities for any investor looking to maximize their earning potential from their investment on Phuket. Prime, absolute beachfront locations such as the one occupied by The Beachfront are becoming increasingly rare on Phuket, which means constant capital growth is guaranteed. Those looking for a regular rental income will benefit from the fact that The Beachfront will be a fully-featured holiday resort operated under the Best Western brand – the biggest chain of hotels in the world, with over 4,000 hotels operating under their banner. Due to this fact, the developers are offering a Guaranteed Rental Scheme offering a choice of either 7% per annum for a period of four years, or a 6% return for a period of five years. After this period, owners can still benefit from excellent rental returns from a revenue split with the hotel chain. Investors wishing to stay at their apartments can take up to 14 days personal usage at any time between May and October.

    So no matter whether you are looking for a beautiful holiday home right on the beach, or a risk-free investment guaranteed by the strength of the largest hotel brand in the world, The Beachfront is sure to be an ideal option.

    Type m2 Price/THB Start Date June 2014
    Studio – Min 28.7 3,063,223 Closing Costs 4.4%
    Studio – Max 35.0 4,915,312 Payment Plan
    One-Bed – Min 44.6 4,509,729 Reservation Fee THB 100,000
    One Bed – Max 54.0 7,007,250 Deposit Payment 35%
    Two-Bed – Min 70.0 7,471,275 Interim Payments 60%
    Two-Bed – Max 110.1 15,647,715 Handover 5%

  8. #33
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    Quote Originally Posted by Seekingasylum
    Which if course is why folk looking for a place next to the sea as a second, holiday home always go for a condo - assured amenities, excellent security, good maintenance etc., and if it is front rank and actually adjacent to a beach then the investment is sound.
    You have to be slightly mental to buy a condominium in Thailand. As a farang, you will never sell it unless you meet a farang who is more mental than you are.

    Who the hell needs a condo to have the occasional paddle ? Absolutely silly thing to do.

  9. #34
    PAG
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    Quote Originally Posted by Jack meoff View Post
    Can any financial savvy members explain the 7% return on rentals here?

    In addition to making the perfect holiday home, The Beachfront offers exceptional opportunities for any investor looking to maximize their earning potential from their investment on Phuket. Prime, absolute beachfront locations such as the one occupied by The Beachfront are becoming increasingly rare on Phuket, which means constant capital growth is guaranteed. Those looking for a regular rental income will benefit from the fact that The Beachfront will be a fully-featured holiday resort operated under the Best Western brand the biggest chain of hotels in the world, with over 4,000 hotels operating under their banner. Due to this fact, the developers are offering a Guaranteed Rental Scheme offering a choice of either 7% per annum for a period of four years, or a 6% return for a period of five years. After this period, owners can still benefit from excellent rental returns from a revenue split with the hotel chain. Investors wishing to stay at their apartments can take up to 14 days personal usage at any time between May and October.

    So no matter whether you are looking for a beautiful holiday home right on the beach, or a risk-free investment guaranteed by the strength of the largest hotel brand in the world, The Beachfront is sure to be an ideal option.

    Type m2 Price/THB Start Date June 2014
    Studio Min 28.7 3,063,223 Closing Costs 4.4%
    Studio Max 35.0 4,915,312 Payment Plan
    One-Bed Min 44.6 4,509,729 Reservation Fee THB 100,000
    One Bed Max 54.0 7,007,250 Deposit Payment 35%
    Two-Bed Min 70.0 7,471,275 Interim Payments 60%
    Two-Bed Max 110.1 15,647,715 Handover 5%
    So, essentially timeshare. As with any of these types of deals, one has to look at the annual service charges. Security, housekeeping, pool and garden maintenance don't come cheap. Certainly for year round occupation they don't make sense, and you can get great bargains renting for a week or so.

    The condo market is very much gearing towards the Chinese market, not the Western. Prices are much lower for cashed up Chinese, with Chinese banks offering favourable rates and loan ratios.

    Other tip for Phuket. Do not buy off plan. Too many projects have failed to materialise, and are only monuments to the durability of rebar and concrete to exposure to a tropical environment.

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