MBK Guarantee provides property finance to foreigners
Since 2010 MBK Guarantee Ltd. (a subsidiary of MBK Group PLC) has been providing Property Finance to foreigners who invest in Thailand real estate. Whether this is for a second home or investment, the application process is simple and quick. This notable development has received positive interest from foreign buyers all over the globe. MBK Guarantee makes the process foreigner friendly, by assessing English speaking professionals (foreign staff) to their team and reducing thresholds such as minimum income requirements and lending caps. One notable difference is the exclusion of work permits or permanent residence requirements.
Bangkok is the economic center of the country’s investment and development, and has the largest population in Thailand. Demand for properties close to the mass-transit system is popular, commuting time and convenience are key factors. Consumers also express interest in developments towards the city’s border, which offers lower property prices. Having that said, the ratio income and property prices remain a big issue for the majority of the locals. The fact is that most condominium units are priced beyond their budgets, developers are trying to compromise payment plans and stimulate finance options.
In 2015 many developments were completed and the up take has been steady. Activity has been particularly strong at the high end of the market, with record prices achieved for both condominiums and land. Property finance for luxury and branded residences is increasing and MBK Guarantee now works closely with the leading property developers in this segment.
After building and delivering years of foreign friendly condominium loans, MBK Guarantee expanded their financial products by offering equity release. Equity release is the term used to describe the different ways in which you can benefit from the value of your home without having to move out of it. You can either take out a loan secured on your home, or sell part, or all, of your home to give you a regular income or a lump sum, or both. MBK Guarantee offers homeowners up to 50% equity release in the form of loan – “a key to unlocking funds”.
As most know, rules and regulations limit the amount of options available to foreigners and according to the Bank of Thailand, Thai Banks may not lend to foreign clients, with occasionally an exception made. Being the first in Thailand, MBK Guarantee allows financing up to 60% of the valuation price and over a maximum term of 10 Years. The significant difference is that, since they are not a commercial bank they are not restricted by the Bank of Thailand loan limit of THB 5,000,000 to foreigners and therefore, there is no cap unto the amount of finance they can lend.
Whether you may be a developer, foreigner or Thai individual, finance can be provided for your property investment. As part of the public listed company, MBK Guarantee is strong and perfectly positioned to offer confidence to the borrower.
For more details about their Property Finance options please contact Marciano Senior Consultant at MBK Guarantee Ltd – email@example.com.