Banking
Thailand’s MBK to finance foreigners on freehold condominiums
Thai institutional group MBK PLC is now offering financing to foreigners on freehold condominiums through its subsidiary MBK Guarantee Ltd. This appears to be an extremely notable development in Thailand, where previously financing was nearly impossible to obtain for foreigners. Loans from THB2 million to THB20 million (US$63,431-634,313) are being offered with monthly payments from 2-10 years for all foreigners – including non-residents. Interest is set at a minimum lending rate (MLR) of Thanachart plus 2% (roughly 8.375 per cent floating), and there is an option for a balloon payment at the end of term of 50 per cent. The company says no income or work permit is required to obtain a loan, but the property must be in prime locations of Bangkok, Hua Hin, Cha Am, Pattaya, or Samui, according to Sakchai Suthipipat Vice President, Investment Department, MBK PLC and Head of Credit Department, MBK Guarantee Ltd. MBK Guarantee is also offering mortgages in order to refinance properties. With the mortgage financing, credit is based on the value of the property not cash flow from a business. All types of properties will be accepted, including land banks, SDH, villas, and leasehold properties will be eligible. Interest rate will be set at the MLR from Thanachart Bank plus 5.625 per cent, or roughly 12 per cent floating. Tenor is up to three years and principal payment is not required during loan period. Conditions apply to both of these financial services that have yet to be revealed. Email sakchais AT mbk-center.co.th for more information.
Thai institutional group MBK PLC is now offering financing to foreigners on freehold condominiums through its subsidiary MBK Guarantee Ltd. This appears to be an extremely notable development in Thailand, where previously financing was nearly impossible to obtain for foreigners.
Loans from THB2 million to THB20 million (US$63,431-634,313) are being offered with monthly payments from 2-10 years for all foreigners – including non-residents. Interest is set at a minimum lending rate (MLR) of Thanachart plus 2% (roughly 8.375 per cent floating), and there is an option for a balloon payment at the end of term of 50 per cent.
The company says no income or work permit is required to obtain a loan, but the property must be in prime locations of Bangkok, Hua Hin, Cha Am, Pattaya, or Samui, according to Sakchai Suthipipat Vice President, Investment Department, MBK PLC and Head of Credit Department, MBK Guarantee Ltd.
MBK Guarantee is also offering mortgages in order to refinance properties. With the mortgage financing, credit is based on the value of the property not cash flow from a business. All types of properties will be accepted, including land banks, SDH, villas, and leasehold properties will be eligible. Interest rate will be set at the MLR from Thanachart Bank plus 5.625 per cent, or roughly 12 per cent floating. Tenor is up to three years and principal payment is not required during loan period.
Conditions apply to both of these financial services that have yet to be revealed. Email sakchais AT mbk-center.co.th for more information.
See original here:
Thailand’s MBK offering condo financing for foreigners
Banking
The Importance of E-Wallets for Online Gaming Sites
With e-wallets and cryptocurrency being the most relevant options, banks have been put on the side burner, especially when e-wallets and cryptocurrency allow for fast electronic transfer, that is done instantly.
Online gambling is an industry that needs to keep up with technological trends, to make sure it stays relevant and convenient within the gambling community.
(more…)
Banking
Thai Government to issue Bt50 bln ( $1.57 bln)Savings Bonds to fund COVID-19 Relief Measures
The special savings bonds are available via the “Sasom Bond Mung Kung” e-wallet, abbreviated to “Sor Bor Mor” in Thai on Krungthai Bank’s Pao Tang mobile app, and through four dealer banks. The minimum purchase of these bonds is 1,000 baht, without no maximum. Interest is paid twice a year.
BANGKOK (NNT) – Thailand’s Public Debt Management Office (PDMO) plans to issue “Ying Aom Ying Dai” (the more you save, the more you earn) government savings bonds, worth 50 billion baht, next month, aiming to use the funds to finance state projects to ease the impacts of the pandemic.
(more…)
Asia’s slow rate of vaccination is a thorn in the region’s economic recovery
Southeast Asia has been hit badly. Daily infections for Indonesia, Thailand, Vietnam are at their worst, on a seven-day moving...
TAT expects 850 billion baht ($25.7 bln) in tourism revenue after successful reopening
The Tourism Authority of Thailand (TAT) has set this year’s revenue target at 850 billion baht, 300 billion of which...
Download 1xBet mobile and play all over the world
Placing profitable bets or playing in a casino is now possible comfortably even without being tied to a computer. It...
3 ways Asia can recover from the COVID-19 pandemic faster
Countries in the East Asia and Pacific region will benefit from cooperation in three major areas: vaccine deployment, reviving sectors...
Thailand’s Vaccine Strategy: What went wrong?
Questions are being asked, and not answered, over the decision to rely almost entirely on Siam Bioscience, a local, palace-owned...
Thailand Package
September 4, 2010 at 10:07 pm
This is really interesting – not even a work permit, proof of income or residency in Thailand is required. Doesn’t sound like Thailand at all…