I'm working full time and my wife and I wanted to buy a lot and build in Philippines. Can anyone give me feed back if its possible to lend money in the Philippines if I'm here working and she there working.
Lending Money
lukas83
18 April 2017 08:30:42
31
Navajo52
18 April 2017 14:18:11
122
If I understand you correctly, you want to get a loan? If that's right, in most cases a lender will not allow a foreign citizen to acquire a loan. Either for cash or credit in buying a vehicle. Simply put they will not count your income for a loan. Only that of your Philippine spouse. Maybe some banks will approve loans but I have not heard of it.
Only reason I can think of for this is it would be too easy for a foreigner the get on a plane and escape the loan.
KruChris
18 April 2017 15:20:50
301
YMMV, but usually, it all begins with you having 20% of the payment (or more) in savings. 25% would be nice when you have a WP and some history in the country.
Disclaimer: I was a banker but haven't been to the Philippines...
Subscribe to this topic
Articles to help you in your expat project in the Philippines
Opening a bank account in the Philippines
To answer the most common question, yes, expats can open a bank account as long as they have a valid resident visa ...
Bank account in the Philippines
If you are a intending to become a permament resident here in the Philippines you will certainly need a local ...
Money transfer options in the Philippines
The old system of transferring money from your bank in your home country to the Philippines and hoping for the ...
Lifestyle in the Philippines
About to move to the Philippines? Wondering how you're going to adapt to your new environment and lifestyle ...
Dating in the Philippines
The beauty of the Philippines, with its dramatic modern and old Spanish architecture, plus the golden sands and ...
Leisure activities in the Philippines
Consisting of more than 7,000 islands, the Philippines is a real treasure that you can explore during your stay ...
Open a bank account that suits you
Discover the best international banks to manage your money securely.
"