Global Mortgage Finance
(Thailand Property and Land Finance Specialists)
Thai Villa Document Requirements (Step 4 of 4)
(New) Thai Company Ownership
& Co Borrower/ Guarantor
A download with easier to read formatting of the full information is available here.
If a new Thai company will own the property and is not yet opened this is fine. A co-borrower OR guarantor will also be required. A mortgage to just a Thai company on its own will not be accepted by our lenders (See Kai Faak registration if require only, a Thai company as the borrower). It is worth to note that once the Thai company is opened, usually the true owner of the Thai company shall need to be the co-borrower/guarantor. It may sometimes be requested that the person who signs on behalf of the Thai company may also not, be the co-borrower/guarantor. I.e. two different people will need to sign loan agreement; one person maybe cannot sign for both parts.
1. Lender Loan Application Form
a) Does not need to necessarily be correct first time, can always be amended later. Fill in as best possible to begin and email for checking over.
b) Thai company will be the main borrower/borrower one, and co-borrower/guarantor will be borrower two.
2. Thai Company Documents
(Nothing required to approve loan however, will be required before go the land office to register Mortgage so worth to note the following)
a) Full set of company registration documents.
i) Before go land office will need updated to within 1 month.
b) Company list of shareholders.
i) ID card (colour) & house registration of all Thai shareholder/s
ii) Passport (colour) & last few VISA entry stamps if any foreign shareholder/s.
iii) Company registration documents if any Thai company shareholder/s.
c) Company affidavit.
d) Credit bureau report.
i) Can be obtained from National Credit Bureau (NCB) Thailand head office in Bangkok only. Possible to send either a messenger to collect on behalf of Thai company or do via post and therefore, not necessarily required attending in person.
ii) For a brand new Thai company, Is often just a blank piece of paper with the company name, date and NCB logo.
e) Minutes of the company meeting maybe required before go land office, this will confirm company is ok to borrow. Not however needed to approve a loan.
3. ID Card, Co-Borrower/ Guarantor
a) ID card and House Registration (Thai).
i) ID card must be a colour copy.
b) Passport & last few VISA entry stamps (Foreigner)
i) VISA entry is not necessarily needed to be for Thailand entry. Is used to show both local and international, recent travel.
4. Marital Status, Co-Borrower/ Guarantor
a) Single - Please move onto step 4.
b) Married - Require copy marriage certificate & than, spouse ID & house registration (Thai) or passport (Foreigner).
i) Spouse will need to sign, consent to borrow and consent to mortgage before go land office.
c) Divorced - Require divorce certificate.
d) Widowed - Require spouse death certificate.
5. 6-12 Month Bank Statements, Co-Borrower/ Guarantor
a) Preferably the account/s where most income goes.
b) Other accounts are also useful, regardless of whether any money is deposited.
c) Document/s submitted must show the account name and account number to match borrower.
d) Document/s submitted should show “deposits”, “withdrawals” and a “running balance”.
e) Can either be Thailand or overseas based bank accounts.
i) If overseas and in foreign language, must be translated to either English or Thai. Only the front page which confirms the name, deposit headers and withdrawals etc. needs to be translated, the rest is usually just numbers.
f) If for example, the printout states page 1 of 6, 2 of 6…..etc. than require all 6 pages regardless of whether any blank pages.
6. Credit Bureau Report, Co-Borrower/ Guarantor
a) In Thailand, this can be obtained from the National Credit Bureau (NCB) Thailand. If in Bangkok, it can be printed while waiting inside one of their branches OR outside of Bangkok, such as Pattaya, can be obtained from any Thanachart bank branch and may take around 10 working days.
b) If overseas, please obtain from a similar central bureau center or obtain a letter from bank, to confirm of good standing and no bad debts.
c) The idea of this report is to confirm the borrower has no bad debts.
7. Job Status, Co-Borrower/ Guarantor
a) Self-Employed
i) A letter from your accountant to confirm start date, position and last year’s gross income.
ii) Full set of company registration documents to show ownership percentage
iii) Last year’s company financial statements.
iv) Company bank statements are useful, if decent income has been deposited through the account within the last 6-12 months.
v) Business Card (if available)
b) Retired
i) Evidence of wealth such as bank accounts with deposits, pension statements/income.
c) Employee
i) A letter from your employer to confirm start date, position and last year’s gross income.
ii) Last 3 months pay slips
iii) Business Card (if available)
d) Semi-Retired Property/Investor
i) Copies of property ownership documents
ii) Rental income contracts
iii) Investment portfolio summaries with income evidence.
iv) Business Card (if available)
8. Property (Villa/House) being used as Collateral for Loan
a) If using loan to buy property
i) Sales & purchase agreement or sales quotation
ii) Copy of freehold land chanote title (front & back)
iii) Copy of construction permit
iv) Google map link to exact location
v) Recent photos
b) If own property already and would like to refinance
i) Sales & purchase agreement contract
ii) Sales & purchase agreement land office
iii) Copy of freehold land chanote title (front & back)
iv) Copy of construction permit
v) Google map link to location
vi) Recent photos