There are many students studying abroad now, and many parents want to buy a house abroad and enjoy better educational resources. What is the process of buying a house with foreign loans? I'll introduce it to you, and you can also refer to it.
After receiving the pre-approval letter, the contract should be signed within 60~90 days. After signing the contract, you need to formally apply for a loan from the bank to ensure that you can get the money when you transfer.
1, get the pre-approval letter
Applicants are required to provide the materials required by the bank. After the approval of the bank, a pre-approval letter will be issued (indicating that the bank loan amount is high and the price of the shopping industry is high).
When the pre-approval letter is provided, the loan interest rate and conditions determined in the previous negotiation will also be locked. The locking time is generally 60-90 days. After the event period, it is necessary to renegotiate the conditions with the bank. Therefore, after obtaining the pre-approval letter, buyers can formally bid for the property of interest.
2. Apply for a loan through a contract.
After confirming the details of the house sale with the seller's brokerage company, you can sign a formal sale contract. After signing the contract, the contract and formal application materials are provided to the bank to start the application, and the approval time of the bank is generally 45-60 days.
3. House payment and transfer
After the loan is approved, the lender, the buyer and the seller transfer the property rights of the house and complete the transaction.
It should be noted that when planning to buy overseas real estate, different banks will put forward corresponding qualification requirements for loan applicants when contacting banks for the first time, and these requirements require buyers to prepare enough time. For example, HSBC will require the buyer to deposit the down payment into a bank account and keep it for at least 60 days before providing the buyer with the pre-approval letter.
Second, how do foreigners apply for housing loans?
Handle the entrusted notarization, and foreign relatives and friends will handle it on their behalf.
Before notarization, it is best to go to the bank that handles the loan and ask for a model. What does the notarial certificate need? The more detailed, the better.
But all the information you want to provide yourself must be provided, as long as it is a copy. The trustee needs to provide a copy of the original ID card. Proof of domestic income is also required. Unless you are a big foreign enterprise, banks can check money online.
Third, how do foreign people borrow money to buy a house?
Two years ago, foreigners had to use RMB for housing loans, which made buyers bear certain exchange rate risks. In order to ease the complicated procedures for overseas people to repay RMB loans, ICBC Shanghai Branch became the first bank in China to provide housing foreign exchange loan services. Subsequently, China Construction Bank launched the foreign exchange business of individual housing. Now, more and more banks have increased this business.
Generally speaking, the area purchased by foreigners is larger than the mainstream room type in the market 10%, because the house price in Shanghai is lower than the original place of residence, and the composition and living habits of family members are also different from those of most families in China. Even so, a house worth three or four million yuan is not a small sum for foreigners. The down payment for buying a house abroad or abroad is generally only 20% of the total price of 10-, so most people will choose to borrow money from the bank.
So which banks do foreigners usually borrow from? First of all, banks must have foreign exchange loans. In fact, choosing a small bank with relatively flexible loans is also an option. Mr. B has just bought an upscale apartment. He felt that the loan procedures of the four major banks were too complicated, so he chose Shanghai Bank. The total house price was 3.74 million, and he got 67% loan from the bank, that is, 2.506 million, which was obviously 7 percentage points higher than the maximum amount of CCB's personal housing commercial loan, and the maximum amount did not exceed 60% of the house price.
In addition, the lender needs an agent (or guarantor) with high and stable income and sufficient compensation ability.
In the past, in domestic loans, the lender's income certificate was only symbolic information. However, on September 2, 2004, the China Banking Regulatory Commission officially promulgated the Guidelines for Risk Management of Real Estate Loans of Commercial Banks, in which the borrower's income must be proved: the borrower's unit, taxation, industrial and commercial departments and credit reporting agencies and other independent third parties conduct investigations.
Compared with foreign banks, there are no strict requirements for the income of buyers. For example, HSBC, the total income of the lender directly affects the loan amount, as long as the monthly repayment amount of the lender does not exceed 40% of the total income; In addition, there is no strict requirement to provide an agent.