January 04, 2007
For freehold condominiums, United Overseas Bank provides loans. United Overseas Bank has introduced property loans to support the purchase of freehold condominiums in Thailand as part of the bank's Asia-Pacific business expansion plan, UOB confirmed on Thursday.
The Singaporean bank said foreign buyers of Thai condominiums will not be affected by the country's announcement of strengthened capital controls two weeks ago.
The rules require Thai banks to withhold 30 per cent of foreign. The latest addition to UOB's range of home loan products is in line with the bank's regional expansion plan and goal of becoming a major bank in the Asia-Pacific," according to UOB's executive vice-persident of personal financial services.
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