1. What is the Bualuang home loan?
The Bualuang home loan is Bangkok Bank’s flagship housing loan. You can use it to purchase a house, townhouse, commercial building, condominium, or a piece of land, or to refinance a housing loan held with another financial institution.

2. How much of the collateral can I borrow?
We can lend you up to 80% of a property valuation of land, a detached house, townhouse, or commercial building.

3. Do I have any other choices when it comes to my mortgage installments?
You can choose to fix your monthly loan repayment either with a flat-rate calculation or a step installment (for interest rate option 1 and 2).

• With the flat-rate repayment option, each installment will be the same over the period of your loan.
• With the step-installment option, you will pay a smaller monthly amount at the beginning of the loan term. However the repayments will be increased later.

4. Where do I make my application?
You can apply at any Bangkok Bank branch.

5. What happens after I submit my loan application?
Once you have submitted your loan application together with all documents needed, our Appraisal & Mortgage Center will make an appointment to visit your property. We will then process your loan application.

6. How does the bank appraise the value of a property?
We base our valuations on land sale prices as recorded by the Land Department and the market prices of real estate.

7. Can I borrow money to build a house on my land?
Yes. You will need to supply additional documents such as the plans for your house, your construction permit and your contract with the builder, specifying the payment installments. The loan will be provided to you in installments in accordance with this contract.

8. How long will it take for my loan to be approved?
It normally takes around 14 working days from submitting your loan application until you receive your loan.

Conditions

1. What is the Bank’s criteria when it comes to considering a loan application?
We will approve a home loan if you meet the following criteria:

• The loan is to build a new residential property, or to refinance an existing loan on a property. In some cases a home mortgage can also be used to buy a car.
• You have sufficient income to meet the repayments – or a guarantor or co-borrow who has the capability to make the repayments.
• You do not have a bad credit record. 
• You are at least 20 years of age. 
• Your age, together with the loan tenure, is no more than 60 years if you are an employee, or 65 years if you are self-employed.
• You must be an actual person, not a company or group.
• If you are borrowing to buy land, it must be in a residential area and the plot size must be no larger than one rai.
  

2. If I don’t have sufficient income, can I still get a mortgage?
Yes. You will need to have a guarantor for a loan or a co-borrower who meets the income requirements.

3. Are there any expenses and if so what are they?
You will need to set aside the following additional budget:

• Property appraisal fee 2,500Bt.
• Loan management fee of 0.50% of the approved loan amount. For commercial buildings and land parcels, the fees are 0.75% and 1.0% of the approved loan amount, respectively. Fees will be collected upon approval.
• Stamp duty 0.05% of the approved loan, up to a maximum of 10,000Bt.
• Fire insurance premium.
• Mortgage insurance premium (optional).
• If you receive progressive loan installments – such as when you are having a house built of getting renovation done, the Bank will charge 500Bt per drawdown payment.

4. Can I borrow to buy a house if I don’t have a proper land title?
Yes, provided you can demonstrate that you are the customary owner of the land.

Co-borrower

1. Who can be a co-borrower?
The co-borrower can be your husband or wife, blood brother or sister, a parent, son or daughter.

2. If there are several people who are the co- owners of a piece of land, can one person take out a loan to build a house?
Yes. You can do it by transfering the property ownership to only one borrower and applying for the loan later.

3. Can my live-in boyfriend or girlfriend be my co-borrower?
No. You must be legally married for a partner to be a co-borrower.

Interest Rates

1. What mortgage options do I have?
There are two periods of mortgages: teaser period and floating period.

With a teaser period, the interest rate is set in advance, usually between one and three years. Normally, the interest rate of teaser period is lower than that of floating period.

A floating period is a variable interest rate, which changes in response to financial conditions. The bank's floating interest rate is at the same level as the MLR. When a teaser period term expires, the rate usually shifts to the Minimum Loan Rate (MLR) for the remainder of the loan period.

We are offering these interest rate options:

Only customers who borrow to buy land after the fixed term, will pay MLR+1% per annum. 

** customers who apply for the Home 1st credit protection insurance throughout a loan term and credit lines will be offered 0.25% discount per annum on the first year of the interest rate.

* These interest rates available to customers who apply for home loans, with completed documentation required from October 1 -  December 31, 2008 (or the date the loan interest rates are subject to change). Once the loan application has been approved, they must have the mortgage registered, and draw down all, or a portion of the loan on, within two months from the date the application was submitted.

2.How do I choose which option is best for me?
The lowest fixed interest rate may not be always the best option because it will related to MLR and might be higher once MLR is increased. If interest rates remain exactly the same over the period of the loan. It will make no difference which option you chose. However, if you expect interest rates to go up, you will be better off if you choose the fixed option. If you prefer the low interest rate and can take a risk, you will be better off if you choose the float option.

Loan Repayments

1. How can I pay my monthly mortgage payments?
You have several options. Many customers find it most convenient to set up a direct debit payment. We will deduct the installments from your savings or current accounts automatically on the due date. You also have the option of making monthly installments through ATMs, across the counter at any branch, or by using our Bualuang iBanking service.

2. If I do not put money into my account before the due date for my loan installment, what should I do?
You should deposit the money into your account on the following day because our auto-debit system will check your account every day after the due date.

3. Can I change the terms of my loan afterwards – for example can I get an extension to the term?
If you wish to make a change to the terms of your loan, you should contact the branch where you obtained your mortgage and make a new application. Because this is a new application you will be required to pay a loan administration fee and a new appraisal fee if it is more than a year since you originally applied for your loan.

Re-financing

1. Can I take out a loan from Bangkok Bank to refinance a mortgage from another financial institution ?
Yes. Normally, the bank will give you a loan equal to your outstanding loan balance.

2. If I refinance a mortgage from another financial institution, what fee charges will I incur?
You have to pay for loan administration fees, such as the property appraisal fee and the loan management fee.

3. How do I proceed to refinance a mortgage from another financial institution?
You have to submit additional documents, namely the loan contract with other financial institution, repayment receipts for the last six months and the mortgage contract.

Buying Bangkok Bank’s properties

1. If I want to buy property owned by the bank, are there any special conditions?
We will provide you with a home loan of up to 90% of the selling price when you buy a bank-owned property for residential purposes. Asset appraisal and administration fees are waived.

We are offering these interest rate options:

Option	1st year	2nd year	3rd year	Remainder of loan term
Option 1	3%	MLR-0.75%
Option 2	5%		MLR-0.75%
Option 3	MLR-1.25%			MLR-0.75%

** customers who apply for the Home 1st credit protection insurance throughout a loan term and credit lines will be offered 0.25% discount per annum on the first year of the interest rate.

* These interest rates available to customers who apply for home loans, with completed documentation required from October 1 - December 31, 2008 (or the date the loan interest rates are subject to change). Once the loan application has been approved, they must have the mortgage registered, and draw down all, or a portion of the loan on, within two months from the date the application was submitted.

Other

1. Where can I get a letter itemizing my mortgage interest payments?
You can ask for it at the branch where you applied for your loan.

2. Am I or is the bank is responsible for paying for the mortgage agreement registration fee at the Land Department?
As the borrower you are responsible for the mortgage agreement registration fee. The fee is equivalent to 1% of the mortgage amount for a housing project.

3. What documents do I need to take when I register my mortgage at the Land Department?
You will need to bring the following documents:

• ID Card
• Housing registration record
• Marriage, divorce or death certificate
• Consent letter from your spouse 
• Land deed (original)
• If you have changed your name or surname, you will need the registration certificate.

4. What kinds of documents should I bring to the bank when I want to redeem my mortgage?
You will need to bring the following documents with you:

• ID Card and a copy 
• Housing registration record and a copy
• If you have changed your name or surname, you will need the registration certificate. 
• The last month’s repayment receipt or loan contract

5. If I want to change my contact address, what should I do?
You can change your contact address at the branch where you applied for your loan.

6. Can a juristic person apply for a home loan or personal loan?
No, but it can apply for business or SME loans.

7. What are the conditions for applying for a property loan?
The property must be bought for the purpose of building the house only and it must be in a suitable location. Its land area must not exceed 1,600 square meters.

8. If I want to apply for a loan at Bangkok Bank to buy a house that is mortgaged with another bank, what should I do?
You have to prepare a contract of sale and a copy of the land title showing the name of the current owner. The redemption of the mortgage with another bank is the responsibility of the seller.