Phuket, Thailand, July 23, 2008 --(PR.com
)-- Siam Real Estate reports bank and new project developments are now offering finance to buy property in Thailand.
The Thai banks are beginning to relax controls on lending money to foreigners as long as it is through a new project where the developer provides security to the bank in the way of land title and is then able to offer the buyer usually a mortgage of up to 50% of the purchase price on attractive terms.
Siam Real Estate now has some 25 new off plan projects with such offers which can be viewed on there website: http://www.siamrealestate.com/seller-financed.
UOB bank based out of Singapore is offering private mortgages to foreigners buying condominiums in Thailand, Siam Real Estate offer more information on there website here: http://www.siamrealestate.com/financing-for-foreigners.php
Siam Real Estate have selected some of there recommend projects offering finance:
Luxury condominium project in Patong will be using UOB bank for customers requiring finance, UOB bank will loan up to 70% of the sale price or maximum $600,000 USD interest 6.5% per annum: http://www.siamrealestate.com/detail/by/refcode/CSSVD2120, prices from THB 23,000,000 to THB 40,000,000.
Bang Tao luxury serviced apartments is offering 50% finance over 5 years paid quarterly over 5 years, using Thai bank Thanachart: http://www.siamrealestate.com/detail/by/refcode/CSILD2083, prices from THB 4,590,000 to THB 12,635,000.
Luxury modern Thai style 3 & 4 bed villas in Bang Tao, the developer is offering finance of up to 10 years at 6% interest per annum: http://www.siamrealestate.com/detail/by/refcode/HSILD996 , prices from THB 34,839,000 to THB 44,000,000.