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Thailand Mortgage Law

Thailand Mortgage LawAn important consideration in any Thailand real estate law and planning transaction is finance.

Mortgages are a common way for many people of financing a property purchase in Thailand.

In general, Thailand property law requires that a mortgage contract must:

  • Be in writing
  • Be registered by the relevant official
  • Specify the Thai property mortgaged
  • Unless it is specifically agreed in the mortgage contract, the mortgage may be paid by installments.
  • confirm in Thai baht either a specific sum or the maximum amount for which the      mortgaged property is assigned as security.
  • Meet other requirements of Thai law as found in sections 702-746 of the Thailand Commerical and Civil Code.

Mortgages in Thailand, as elsewhere, are usually provided by banks and financial companies. It is also possible for a private individual including a non Thai (foreigner) to grant a mortgage. With regard to obtaining mortgages, banks and finance companies in Thailand may however be more cautious with foreigners due to a perception that their situation is less secure than Thai nationals.