Thoughts?Property loans for Foreigners - Phnom Penh Commercial Bank
If you are considering or even want to buy a property in Cambodia but don't have enough capital then help is at hand. The Phnom Penh Commercial Bank (PPCB) will offer up to 50% of the purchase price of the property with loan periods of between 15-20 years with interest at 8.5% per annum.
To apply for a loan, PPCB will require proof of one's income, a valid copy of your passport and Cambodian Visa along with the initial deposit for the property.
Property loans for Foreigners
Property loans for Foreigners
From an estate agent on Facebook, take at face(book) value.
Massive stalker
If it's for real (I don't know that bank) it's a pretty shrewd move to occupy a market niche nobody has targeted so far. Low rate (for here) but limited exposure given the terms. it'd be interesting to have the fine print.
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I guess if its for an approved Condo in the foreigner's name, and loan amount up to 50%, then the Bank is pretty safe if the lendee defaults and the bank sells it to recoup the outstanding monies owed.pedros wrote:From an estate agent on Facebook, take at face(book) value.
Thoughts?Property loans for Foreigners - Phnom Penh Commercial Bank
If you are considering or even want to buy a property in Cambodia but don't have enough capital then help is at hand. The Phnom Penh Commercial Bank (PPCB) will offer up to 50% of the purchase price of the property with loan periods of between 15-20 years with interest at 8.5% per annum.
To apply for a loan, PPCB will require proof of one's income, a valid copy of your passport and Cambodian Visa along with the initial deposit for the property.
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PPCB is pretty good, Korean-owned, even 1 hot-looking Korean teller at the branch I went to down by the Senate, you know, on Norodom.
Medium-sized, smart interior, and yes, shrewd people. Wouldn't go there if you're not long-term or not serious.
Mostly Asian customers, but middle and upper class Asians. Seem mostly hard-working and honest.
Medium-sized, smart interior, and yes, shrewd people. Wouldn't go there if you're not long-term or not serious.
Mostly Asian customers, but middle and upper class Asians. Seem mostly hard-working and honest.
Mongol General: What is best in life?
Conan: To crush your enemies, to see them driven before you, and to hear the lamentations of their women.
Mongol General: That is good!
Conan: To crush your enemies, to see them driven before you, and to hear the lamentations of their women.
Mongol General: That is good!
I couldn't get a small loan because my income ( proofed by the bank records)comes from abroad. Even in spite of the fact I'm legally married here and my wife was ready to mortgage her land. Mach more expensive than a loan we asked for.
It is possible for foreigners, who work and live legally in Cambodia, to obtain loans on Strata-Titled properties (Condos). The bank holds the title so that if the foreigner defaults then the bank seizes the property.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
Which bank? I'll send you a PM...it is possible.yg11 wrote:I couldn't get a small loan because my income ( proofed by the bank records)comes from abroad. Even in spite of the fact I'm legally married here and my wife was ready to mortgage her land. Mach more expensive than a loan we asked for.
If you're legally married, AND legally work IN Cambodia, it is extremely simple to get a joint loan.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
PPCB. Thank you. I sent you pm.PSD_Kiwi wrote:Which bank? I'll send you a PM...it is possible.yg11 wrote:I couldn't get a small loan because my income ( proofed by the bank records)comes from abroad. Even in spite of the fact I'm legally married here and my wife was ready to mortgage her land. Mach more expensive than a loan we asked for.
If you're legally married, AND legally work IN Cambodia, it is extremely simple to get a joint loan.
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What's the age limit? When I inquired with ACLEDA it was up to the age of 60. Does anyone know of a bank that will provide a mortgage up to 70/75?
Not received mate...you get mine?yg11 wrote: PPCB. Thank you. I sent you pm.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
Yeah. Thanks for sharing your experience. I've got exactly the same situation even accounts in ABA and unemployed wife. Will try contact to ABA again.
I am in the spot you described. Legally married, she doesnt work but I do. We have property in her name. What banks offer a joint loan?
ABA for sure, not sure about other banks.
I'm not a negative person, I encourage people all the time...it's usually to f**k off! But, whatever.
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