The international banks that will lend to foreigners in Thailand include UOB, Bank of China and ICBC. These banks require proof that the applicant can legally reside in the country. Usually at least a one-year working permit is required in addition to a letter from their employer stating the applicant’s position and salary to support their pay slips. Credit checks are also carried out. Applicants will need to be aware that they cannot reach their 60th birthday before the loan expires as Thai banks do not lend to anyone over the age.
The length of most loans is 10 or 20 years. A substantial deposit is usually required for foreigners. These do vary from bank to bank but 40 to 50% is standard. Other lenders like MBK Guarantee can help finance property purchases in Thailand for foreigners.