Compare Mortgages in Thailand

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What are Mortgages in Thailand?

A mortgage is a long-term loan secured against a property, used to buy a house or condominium and repaid over many years — commonly up to 30–40 years or until a set age. The bank holds the property title as security until the loan is repaid. In Thailand mortgages are offered by commercial banks and the state-owned Government Housing Bank, all supervised by the Bank of Thailand, which also sets loan-to-value (LTV) limits to manage the housing market and curb speculation.

How the Thai market works

Thai mortgage rates are usually structured as a low fixed or promotional rate for the first few years, then a floating rate linked to the bank's MRR (Minimum Retail Rate). Current effective rates broadly sit in a 2.5% to 3.75% range on promotional and blended terms. The BOT enforces LTV rules: first homes can be financed at high LTV, but second and subsequent properties require larger down payments. Borrowers provide income proof, the property is valued, and the loan is registered against the title at the Land Department, with the bank as chargee.

Benefits

Home ownership — buy now and repay over decades rather than saving the full price.

Low promotional rates — early-year fixed periods keep initial payments down.

Long terms — extended tenors reduce the monthly instalment.

Refinancing — you can switch banks after the fixed period to secure a better rate.

How to choose

Look beyond the teaser rate to the average effective rate over the first three years and the ongoing MRR-linked rate afterwards, since that is where most of the loan's life is spent. Compare LTV offered, fees (appraisal, mortgage registration, fire insurance and mortgage-reducing term assurance), and early-repayment or refinancing lock-in periods. Factor in the 1% mortgage registration fee and stamp duty. If you plan to refinance later to chase a lower rate, check the switching-out penalty within the fixed period.

Leading providers in Thailand

Major mortgage lenders include Kasikornbank, Krungthai Bank, SCB, Krungsri, Bangkok Bank, CIMB Thai, TISCO Bank and LH Bank, alongside the state Government Housing Bank (GH Bank), which is a dominant provider of affordable home loans. The large commercial banks compete on promotional fixed rates and developer tie-ups for new condominium projects, sometimes offering preferential terms on partnered developments.

What it costs

The main cost is interest — typically a low fixed rate for the first years then MRR-linked — within a roughly 2.5%–3.75% blended range. Add the 1% mortgage registration fee, appraisal fees, required fire insurance and often mortgage-reducing term assurance. Refinancing before the lock-in ends can trigger a penalty of around 2–3% of the outstanding balance, so time any switch for after the lock-in. Over a multi-decade term, even a small difference in the ongoing MRR-linked rate translates into a large sum in total interest, which is why many Thai borrowers refinance every few years once each fixed-rate promotion expires to keep their effective rate as low as possible.

Protections and regulation

Mortgages are supervised by the Bank of Thailand, which sets LTV limits, responsible-lending and disclosure rules, and the MRR-referencing framework. The Government Housing Bank supports access for lower-income buyers. Property transfers and mortgage registration are handled through the Land Department, and your obligations are recorded at the National Credit Bureau.

Common questions

How much deposit do I need? First homes can be high-LTV; second properties require larger down payments under BOT rules.

Are rates fixed? Usually fixed for the first years, then floating on the bank's MRR.

Can I refinance? Yes, typically after a lock-in period — watch for early-exit penalties.

What fees apply? Expect the 1% registration fee, appraisal, fire insurance and stamp duty.

Mortgages in Thailand — FAQ