Mortgages For Foreigners

[chuckwoww]

If you stop to think about it, it is actually amazing that a Thai Bank would offer a mortgage to a foreigner at all, even offshore. Seems to me they would be a serious credit risk, all they have to do is get on a plane and go home and there is nothing the bank could do about it.

 

I don't know. Isn't this just the sort of deal lenders like? If the guy reneges they get to keep the down payment and the property.

 

[FIGJAM]

Mate

 

You said farangs cant get mortgages. Ive told you I got one with some help and one on my own!

Frede if your point was, like you wrote some posts ago, that financing is a very gray area in Thailand I have already replied that I 100% agree with you but if you are again trying to say that "farangs" can get mortages in Thailand when you yourself have only got one because a freaking Member of Parliament has helped you I have to repeat "bollocks"!

 

And what do you mean by "and one on my own"? Is that a new one you haven't yet talked about or are you still referring to the one the Thai MP has "brokered" for you?

 

I also told you my mate got one also and hes a fooking english teacher!!!!!!!

Ok, so just to be sure it's a mortage we are talking about: what amount has been financed? Over how long a period of time and how much is he paying back each month? Was the mortgage Baht denominated and from a Thai bank IN Thailand? How much he earns? What has he bought and has he put up as collateral only the property he was buying?

 

Im not big upping myself, Im just saying that rules are never really rules, they are guidlines and in thailand, thankfully, guidelines become more fluid.

I repeat, this we 100% agree on.

 

Im sorry you couldnt get a mortgage. Maybe you are a risk>? Who knows.

Where have you read that I applied for a mortgage in Thailand and was turned down??

For a wide variety of reasons I have always advised everyone to never buy any property in Thailand unless the money used is literally "play money" to them.

Not "big upping myself" ( ) but I live off my Italian properties' rental income and I think I know a thing or 2 on this matter...

 

I guess they know that if I default, then ive got more than the mortgage in my savings account.

That's actually one of the points I have been making. To qualify for personal loans foreigners have practically to prove that they don't need a loan in the first place!

Things don't work this way elsewhere in the world and in Thailand as well, in the case of the Thais...

It's the very point of loaning: being able to buy (and pay for it a little at a time) something which you wouldn't be able to otherwise.

 

I just like to use other peoples money

Great when borrowing money is "free" but with the interests usually charged (ESPECIALLY TO FOREIGNERS) around these parts what you state here doesn't make sense.

[The_Munchmaster]

I'm a consultant' date=' who has a major influence on the amount construction contracts are awarded for, who decides how much a contractor gets paid each month and who has a major involvement in how much the contractor finally gets paid at the end of the project.

 

That should therefore make me the target of bribery, but in 9 years in Dubai it never has.

[/quote']

 

Then those above you are, cause you can bet your bottom baht that if they weren't, you wouldnt be working.

 

Sorry, but your statement doesn't make sense.

 

[frede]

My point is that people in your organisation are giving and taking bribes.

 

If everyone was whiter than white then your organisation would not be doing business in Dubai.

[The_Munchmaster]

My point is that people in your organisation are giving and taking bribes.

 

If everyone was whiter than white then your organisation would not be doing business in Dubai.

Are they fuck. You haven't a clue what your talking about. Maybe your seedy little deals are all based on bribes but please don't tar other people and companies, who you know nothing about, with the same brush.

 

[cavanami]

No, many international companies do NOT gove/take bribes..but they DO hire "agents" that do the bribe giving and taking!!!

 

This "layer" with the agents keep the companies' hands "clean".

[bust]

My understanding of what is going on in the construction industry in Dubai (I was recently offered a position) is that there is a shortage of contractors which usually eliminates the need for bribes.

[frede]

My point is that people in your organisation are giving and taking bribes.

 

If everyone was whiter than white then your organisation would not be doing business in Dubai.

Are they fuck. You haven't a clue what your talking about. Maybe your seedy little deals are all based on bribes but please don't tar other people and companies' date=' who you know nothing about, with the same brush.

[/quote']

 

That's pretty abusive calling me a wanker, so......

 

Listen, you fat cunt. That's some assumption that I know nothing and its one hell of a naieve statement to say that the construction industry is Dubai isnt corrupt to the core. I can tell you, that it most certainly is and it runs , TOTALLY on corruption.

 

How do I know? Because I own more property there than you can shake a stick at, Ive added to my fortune over the last 5 years on it. I have 101 associates ranging from Lebs, locals, Americans, Indians etc all making their millions off it.

 

But, your a salary man and likely a bottom feeder if you are so dislocated from the business that you think its clean.

 

Anyways, why the fuck am I arguing with you? A guy that cant even get laid for 600+ days in Thailand? So it kinda tallies that you wouldnt be able to make any real money in Dubai also.

 

Ofcourse I could b wrong. You may just walk around with your eyes wide shut in Dubai and ignore it all and convince yourself it doesnt happen. Just as you walk around in Thailand for 600 + days with your eys firmly shutting out the poontang and men and trying to convince yourself that you aren't, in fact, a huge hill of flesh on the turn at middle age.

 

Right back at you

[frede]

My understanding of what is going on in the construction industry in Dubai (I was recently offered a position) is that there is a shortage of contractors which usually eliminates the need for bribes.

 

Issuance of construction licenses. Issuance of licensing from the notorious fire dept.

 

For sure, that Welsh cunt made a fortune also.

 

Hell, its right down to the agents renting the places. Every cunt is at it and a firm cannot function unless it greass palms. Its the cost of doing business in Dubai and a fixed line item.

 

 

[frede]

No, many international companies do NOT gove/take bribes..but they DO hire "agents" that do the bribe giving and taking!!!

 

This "layer" with the agents keep the companies' hands "clean".

 

Yep, you are right there!One international co (every reader would know the name) we rented out 14 villas to direct expected a sweetener so we got the contract instead of another comopany. I recall their American HR exec wanted a 5 star, first class weekend in Rome. Cheeky cunt. And that's just the end user. There are layers and layers above.

 

As I said, everyone doing business in the Middle East recongises this. Even Tony friggin blair.And every chairman I know is fully aware. As is my soon to be gay mate above's management team.