PATTAYA, Thailand – For many hopefuls dreaming of owning a home in the bustling coastal city of Pattaya, new opportunities are emerging thanks to a recent digital innovation designed to make loan applications easier, especially for freelancers and those without traditional credit histories.
The Bank of Thailand (BOT) has launched the “Your Data” service, allowing individuals to request their payment histories for utilities like water and electricity through official government apps. This data can now be used as supporting evidence when applying for loans, expanding access to credit for people who previously struggled to prove their financial reliability to banks.
Ms. Wipawin Promboon, Senior Director of Financial Strategy at the BOT, said the program is a collaboration with various government agencies, including the Metropolitan Electricity Authority and Provincial Waterworks Authority, to provide a secure, cost-free service. Over 30 lending institutions, including commercial banks and non-bank lenders, have signed on to accept this digital utility data as part of their credit evaluation process, with three already offering services from June 30.
For Pattaya, a city that continues to attract both expatriates and locals seeking a second chance in home ownership, this service is a timely boost. Many residents, especially self-employed individuals working in tourism, hospitality, or small businesses, now have a clearer path to obtaining housing loans — an essential step toward fulfilling the dream of owning a property by the beach.
The “Your Data” project is expected to not only facilitate loan approvals but also reduce administrative costs and processing times through verified digital signatures and automated data verification. In the future, this platform will expand to include income tax filings, bank deposits, insurance, and investment data, further enhancing financial transparency and loan accessibility.
As Pattaya’s real estate market shows signs of stability amid returning tourists and growing economic activity, residents are hopeful that this new digital tool will help many turn the key to their own homes sooner than ever before.
