Hello boys,
So I don't post often but, I just curious about something, if you have any idea.
I am a dual Thai-EU citizen, and have a job in the EU good enough to get mortgages and things.
Has anyone ever heard of a Thai using a foreign income (obviously larger than equivalent salaries in Thailand) to get a mortgage on a property in Thailand?
I've read about the Bangkok bank branch in London, and that you can't use it for that kind of purpose, only for business thing and money transfers and stuff. I've read about the UOB bank in Singapore. I've also read a couple of threads about Thai-Farang couples trying to use the better off better half's income (usually the non-Thai husband, I guess) to get something whilst they both live in Thailand.
What I haven't ever read about or heard about is about a Thai working abroad, and using their income earned outside of Thailand to get a mortgage with a Thai bank in Thailand on a property in Thailand, where naturally it might work out as a better value proposition. Has anyone ever heard of anything like this being possible or impossible?
I seen Bangkok Bank in Thailand gives low rates for Thais earning over THB 55k, which is less than 17k EUR/yr (= 13k GBP / 18k USD / 26k AUD), which seems quite affordable if you work in one of those countries.
I guess it will mean having to make regular international transfers across to make it work, but if it's only like the amount you as a farang might rent a house out in Thailand for a month, it might be ok.
I guess some people might see buying something in an EU or other western country and selling it or renting it out to use back in Thailand might be a sensible idea, but if there was a way of doing both at same time, and having the options that doing that brings, that would be interesting, not just to me but to other people (e.g.: like your wife, for example ).
A lot of the SEAsian women I know who live and work in the EU don't enjoy every aspect of "the west", and miss home and want to be able to help their families, or find ways of looking after ageing parents. Some of us don't work in restaurants and hotels, and can maybe do something about it.
One friend of mine lives with her fat old farang ( ) in a house in UK and she has a small house near the beach at her hometown in Krabi, but I think she owned that before she left Thailand, so it doesn't apply. It's good for her that she has somewhere to go to for a break from UK life. I'm not in any hurry to live in Thailand but I would like to have something there to stay at if I go to visit my family.
Any thoughts warmly welomed.