by Select Sales Center Property 
Although there aren’t many options for LGBTQ+ couples to own a home, especially when it comes to joint home loans, that doesn’t mean there aren’t any options because there are currently many banks that allow LGBTQ+ couples to get joint home loans. Let’s take a look at the details of what LGBTQ+ couples need to do to get joint home loans and which banks offer loans here.
Can LGBTQ+ couples use home loans? How?
For those who apply for a home loan on their own, LGBTQ+ people are just as capable of applying for a home loan as men and women, and banks do not assess LGBTQ+ borrowers as more risky than men or women.
However in the past, one of the problems that prevented LGBTQ+ couples from buying a home was the limitation of accessing home loans as joint borrowers.
Why can’t LGBTQ+ couples get a joint home loan?
From inquiries to commercial banks, it was found that the reason why they were originally unable to provide loans to LGBTQ+ joint borrowers was due to various reasons. Many banks gave consistent reasons, that is, joint borrowers must be close relatives, those who are related by the same lineage, such as father, mother, brother, sister, or a married man and woman, who may or may not be registered.
Therefore, the main reason why joint loans for LGBTQ+ do not meet the bank’s conditions is because LGBTQ+ couples cannot register their marriage, so they cannot have a legal relationship like a man and a woman.
However, many banks are now opening opportunities for LGBTQ+ couples to apply for a joint home loan.
Which banks can provide home loans to LGBTQ+ couples?
Currently, many banks are willing to approve home loans that are joint loans between LGBTQ+ couples, with different loan terms and conditions as follows:
1. Bank of Ayudhya
Krungsri Home Loans Apply for a home loan with a friend to live together. You can apply for a “home loan” together to buy a new or second-hand home from any real estate project or apply for a refinancing loan with a purchase price (after deducting all discounts) starting from 3 million baht and up.
Borrower Qualifications
Applying for a joint home loan for a couple of friends who want to live together is different from the original joint loan in that it is not necessary to have a relative relationship with the borrower. Instead, the income, repayment potential, and credit of both borrowers will be considered, including checking to confirm the relationship.
In this case, the primary borrower and co-borrower must have the following qualifications:
- Individuals, of Thai nationality, aged 27-65 years
- Permanent employees, combined working experience at previous and current workplaces of at least 2 years (current job must have passed probationary period)
- Self-employed, operating a business for at least 2 years
- The primary borrower must have an income of at least 30,000 baht per month, and when combined with the income of co-borrowers, it must not be less than 50,000 baht per month
- The borrower must have documents or evidence showing a relationship or cohabitation for at least 1 year, as specified by the bank, such as a house registration together, a joint deposit account, etc. For more information, please ask the sales staff.
Fees and expenses for government agencies
| Type | Amount Charged |
|---|---|
| Collateral survey and assessment fees (total loan amount per collateral not exceeding 100 million baht) collected before or on the date of the contract | 3,210 baht per collateral (including VAT) |
| Fire insurance premium (collected before or on the date of the contract) | According to the insurance company’s rates |
| Stamp duty (collected before or on the date of the contract) | Calculate 0.05% of the loan amount (not exceeding 10,000 baht) |
| Mortgage registration fee (collected before or on the date of the contract) | Calculate 1% of the mortgage capital |
| Penalty fee for closing debt before the due date (collected before or on the date of the contract) | Calculate 3% of the remaining debt. |
Details
- The fixed interest rate for the first year is 2.50% (calculation assumption based on the MRR interest rate on October 6, 2023, = 7.40% per year. However, the floating interest rate can be increased or decreased)
- Free! Collateral appraisal fee worth 3,210 baht between May 1 and August 31, 2024)
- Free mortgage registration fee of 1% of the approved loan amount or not exceeding 200,000 baht, only for customers who purchase MRTA/MLTA according to the specified conditions and choose the free mortgage registration interest option.
- 0.25% interest rate discount only for the 1st year when purchasing MRTA/MLTA insurance according to the specified conditions or using a salary account through Krungsri Bank
For more information, please contact any Krungsri Bank branch nationwide or call 1572.
2. Kasikorn Bank
Kasikornbank allows LGBTQ+ couples to apply for a joint home loan, with the following details:
Borrower Qualifications
- Thai nationality, aged 20 years and over but not over 70 years
- No more than 3 co-borrowers, and they must be related, including unregistered spouses and people who are related in the form of friends (in the case of a joint loan where the relationship is in the form of friends, the primary borrower and co-borrower must jointly own the collateral)
- In the case of a single loan, income must be at least 15,000 baht per month
- In the case of a joint loan, combined income must be at least 15,000 baht per month
- Work experience must be at least 6 months (including work experience at previous workplaces, and must have passed the probation period at the current workplace)
For more information, please contact the K-Contact Center at 02-888-8888
3. Siam Commercial Bank
Siam Commercial Bank allows LGBTQ+ couples to apply for a joint loan, with the following details:
Joint loan details for LGBTQ+
- No need to open a joint account
- No need to sign cohabitation documents
- No need to show other joint property loan documents
Identity verification documents
- Copy of ID card only or copy of government official card or copy of state enterprise employee card with an ID number and photo on the card or copy of passport (for foreign spouses) with a copy of house registration
- Copy of house registration
- Copy of marriage certificate (if any)
- Copy of name change certificate (if any)
- Collateral documents
- Copy of sales contract
- Income verification documents
- Salary certificate or pay slip
- Statement of account for the past 6 months
- In the case of freelancers, prepare a statement of account for the past 6 months and a professional license (doctor, engineer, lawyer, architect)
- All borrowers must have an income of 50,000 baht/month or more
Can borrow up to 100% depending on the qualifications of the co-borrower and the borrower’s financial stability
For more information, please contact SCB Call Center at 02-777-7777
4. Thanachart Bank
Thanachart Bank allows LGBTQ+ couples to apply for a joint home loan. It is a new home loan and a second-hand home loan with a credit limit of 100% and staff are ready to provide service at your location.
Details
- Choose interest rates and installment amounts
- Maximum approval limit of 50 million baht
- Free property appraisal fee and fire insurance premium
- Installment period up to 35 years
- Receive additional privileges from partner companies
- Borrow only as much as you need and can repay. The interest rate for the entire contract is 4.89%-6.73% per year
- Qualifications for LGBTQ+ couples
- For LGBTQ+ couples who want to apply for a home loan or condo together, additional evidence of relationship must be provided, such as:
- Photos to confirm that they are a real couple
- Documents confirming that they live together, such as a house registration with both names (if applicable)
- Documents for joint property loans, such as a car (if applicable)
- Documents for joint business (if applicable)
- In the case of permanent employees, the primary borrower must pass the approval criteria and set a minimum monthly income of 30,000 baht or more and a basic salary of 10,000 baht or more
- In the case of business owners, the normal income criteria
- Joint borrowers, excluding income
- Must hold joint ownership of both the primary borrower and the joint borrower in all cases
For more information, please contact the TTB Contact Center at 1428
5. CIMB Thai Bank
CIMB Thai Bank has launched a home loan campaign “Come as a Pair, Easy Loan” for same-sex couples to apply for a home loan together, whether it is a home refinancing loan, a loan for buying a new or a second-hand home, or a multipurpose home loan, Mortgage Power, with the following conditions:
- Joint ownership of the collateral
- The borrower is a full-time employee or business owner with an income of 30,000 baht or more
- Home refinancing loan with low interest, free property appraisal fee, free stamp fee, and free fire insurance premium for the first 3 years
- New home loan, second-hand home loan with attractive interest rate, free property appraisal fee
- Documents for home loans that must be prepared before applying for a home loan
- Salary certificate
- 6-month payslips
- 6-month payroll passbook
- Other documents for LGBTQ+ co-borrowers, such as:
- Must open a joint account
- Must sign the bank’s cohabitation document
- Wedding photos (if applicable)
- Photos to confirm that they are a couple
- House registration with both names To confirm that you live together
- Documents for joint loan purchases of other assets, such as a car (if any)
- Documents confirming joint business (if any)
- Must sign the home loan application form stating that you are in a relationship with the primary borrower
Other ways LGBTQ+ can get a joint home loan
In the case of LGBTQ+ joint home loan, which has limitations because the joint borrowers are not related, Kasikornbank provided information that one indirect method that allows LGBTQ+ to jointly borrow is to apply for a business or SME loan. LGBTQ+ couples can apply for a loan to purchase fixed assets for business operations, such as a business with land or vacant land for business operations.
However, borrowing using an SME business loan will give a maximum loan period of only 10 years, which is shorter than a home loan, which has a maximum repayment period of 30 years.
In addition, the interest rate of an SME business loan is also higher than the interest rate of a home loan by approximately 2-3% per year.
References: K-expert by Kasikornbank, Siam Commercial Bank, UOB, Standard Chartered Bank
