mortgage in vietnam?

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gg1965 Active member

Member since 06 March 2015

gg1965Active member23 March 2015 09:27:53

hi all,

has anyone here got a mortgage (in Vietnam) to buy property in Vietnam? if so, what was the process like and who did you go through? What hoops did you have to jump through etc?

thanks

g

l3ully Banned

Member since 11 December 2011

l3ullyBanned24 March 2015 01:49:18

830

Yes, there are. However to get one, you might need one or more of the following:

- have a well going business, ideally a bank account with a huge cash flow on the bank you want borrow from
- pay a "broker fee" to the banker
- leave a valuable deposit e.g. red book(s)
- be registered in a Vietnamese family book
- have a lot of family members with one or more of the above (in the family book)
- if and when you get, you look at approximately 30%-35% interest/costs p/a
- no single is mortgage is longer than ONE year, if not paid off completely, make sure you have sufficient of the above, to re-mortgage, so you not loose the deposited and the property. Ensure your broker/his friends are sticking to longer then one-year deals, when the first year ends.

* "Special connections" .... ... and or luck might exempt from one/more/all of the requirements and/or set additional/others

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