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.
Tuesday, September 28, 2010
Tuesday, August 31, 2010
Budget Kitchen Remodeling Tips
Kitchen remodeling is a great home improvement investment and can be done on a budget. Update kitchen light fixtures, cabinets and countertops with tips from a professional home repairman in this free video on home improvement.
Improving your home and your life only at Home Improvement Idea : http://home-improvement-idea.blogspot.com
Improving your home and your life only at Home Improvement Idea : http://home-improvement-idea.blogspot.com
Sunday, August 29, 2010
Thailand Information
Thursday, August 26, 2010
Luxury Villa Sells For US$24,000,000 in Thailand
What is widely regarded as Asia's most luxurious home has been sold, Asia Property Report understands.
Beyond Villa, located Natai Beach in Thailand's southern Phang Nga province, has been sold for around US$24 million, according to a number of industry watchers who declined to be named. The 6,500 sqm property, which was previously owned by California Fitness founder Eric Levine, has been purchased by an unidentified Russian buyer, according to several sources familiar with the transaction.
The ocean front property has been on the market for several years and was initially listed at around US$27.5 million.
Located on a 10 rai (4 acre) beach front estate on quiet Natai Beach in Phang Nga, the four bedroom villa has one of the best home gyms in the world, thanks to its former owner. It incorporates glass, steel and granite into its ultra modern and light filled design which was created by Hong Kong architect Branko Pahor.
Outside its doors Villa Beyond has a 2 hole golf course, 37 metre infinity swimming pool, barbecue terrace and covered outdoor massage and dining areas. Notable inside amenities include a 24 seat cinema, hidden kitchen, meditation room and a spa. The master bedroom is 500 sqm in size and boasts its own private swimming pool.
The home gym, with more than 80 pieces of equipment, is located in a separate pavilion on the property, as is a 750 sqm games room complete with bowling alley and karaoke room.
The property was being marketed extensively by local and international agents, and had been featured in the pages of global newspapers and magazines, including The New York Times.
Thailand Real Estate
Beyond Villa, located Natai Beach in Thailand's southern Phang Nga province, has been sold for around US$24 million, according to a number of industry watchers who declined to be named. The 6,500 sqm property, which was previously owned by California Fitness founder Eric Levine, has been purchased by an unidentified Russian buyer, according to several sources familiar with the transaction.
The ocean front property has been on the market for several years and was initially listed at around US$27.5 million.
Located on a 10 rai (4 acre) beach front estate on quiet Natai Beach in Phang Nga, the four bedroom villa has one of the best home gyms in the world, thanks to its former owner. It incorporates glass, steel and granite into its ultra modern and light filled design which was created by Hong Kong architect Branko Pahor.
Outside its doors Villa Beyond has a 2 hole golf course, 37 metre infinity swimming pool, barbecue terrace and covered outdoor massage and dining areas. Notable inside amenities include a 24 seat cinema, hidden kitchen, meditation room and a spa. The master bedroom is 500 sqm in size and boasts its own private swimming pool.
The home gym, with more than 80 pieces of equipment, is located in a separate pavilion on the property, as is a 750 sqm games room complete with bowling alley and karaoke room.
The property was being marketed extensively by local and international agents, and had been featured in the pages of global newspapers and magazines, including The New York Times.
Thailand Real Estate
Tuesday, August 24, 2010
How to Change a Ballast in a Fluorescent Light
Change a ballast in a fluorescent light using an electrical tester to check for safety, and by twisting it 30 degrees to loosen the light fixture. Find out how to change a ballast with tips from a handyman in this free video on home repair and maintenance.
Improving your home and your life only at Home Improvement Idea : http://home-improvement-idea.blogspot.com
Improving your home and your life only at Home Improvement Idea : http://home-improvement-idea.blogspot.com
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