What are the steps to buy a house with a loan in Japan?
It usually takes 3 weeks 1 month to buy a house in Japan, from applying for a loan to lending by the bank. Therefore, mastering the process of buying a house can better grasp the opportunity of buying a house with a loan! There are no policy restrictions on buying and selling loans to buy houses in China, but banks have different requirements for the qualifications of lenders. Generally speaking, banks in China have more relaxed requirements for China buyers. When buying a house with a loan in Japan, the buyer should apply for a loan after submitting an application and signing a purchase contract. The bank will investigate and review the lender and the property, and after passing, it can get a loan and go through the formalities of property transfer.
1. Can China people borrow money to buy a house in Japan?
Overseas investors can borrow money to buy a house in Japan without any restrictions. There are also local banks in Japan that can provide loans.
1. What are the conditions for China people to borrow money to buy a house in Japan?
Japan does not have too many policy restrictions on overseas investors to borrow money to buy a house in Japan. Ordinary buyers can apply for a loan to buy a house in Japan as long as they are over 18 years old, have a stable job and income, have the ability to repay, have a legal ID card and have no criminal record. However, different banks have different requirements for overseas buyers. Generally, Japanese banks have strict requirements for China lenders, while Bank of China Japan Branch is relatively relaxed.
Take Suruga Bank of Japan as an example. Suruga Bank requires overseas buyers to meet the following conditions before applying for loans:
(1) Obtain a permanent residence permit in principle;
(2) Be able to read Japanese materials and loan-related documents;
(3) The age at the time of borrowing is between 20 and 65 years old, and the final repayment age is no more than 75 years old;
(4) Having the qualification to join the group life credit insurance;
(5) The annual income before tax is more than 2 million yen, and he has worked continuously for more than 3 years;
(6) Comply with other regulations.
Regulations of Suruga Bank of Japan on Overseas Lenders
Unlike the strict local banks in Japan, China Bank's branches in Japan have very loose regulations on Japanese lending institutions. Take Bank of China (Tokyo Branch) as an example, as long as the lender is over 20 years old, the final repayment age is not over 65 years old, and he has a stable job and income, he can apply for a loan.
Requirements of Bank of China (Tokyo Branch) to Lenders
Bank of China-Retail Real Estate Mortgage Loan
product description
Retail real estate mortgage loans cover financing businesses such as small and medium-sized enterprises and natural persons with real estate as the main collateral.
Product characteristics
The borrower can use the loan for the purchase of housing or investment objects, family decoration, housing repair and other corrective expenses and other consumer needs. In principle, the loan currency is Japanese yen. Usually, the loan ratio does not exceed 70% of the transaction price or assessed value of the purchased house (whichever is lower), and the loan period does not exceed 20 years.
Applicable customers
In principle, it is a natural person with Japanese nationality and a natural person with legal residence in Japan. Japanese natural persons who do not have the residence qualification in Japan must be required to open a deposit and loan account in Japan. In principle, the down payment for house purchase shall be above 50%, and the loan period shall not exceed 15 years.
Treatment process
(1) Apply for retail real estate mortgage loan, and submit identity documents.
(2) Open a current deposit account with our bank.
(3) The bank will review the loan application.
(4) Lending loans and setting up real estate mortgage cards.
(5) Please keep the balance of your account so as to repay the monthly interest smoothly.
Submit a document
(1) Relevant certificates of the borrower (identity documents, resident tickets, etc.). )
(2) proof of the borrower's income (source bills, tax certificates, etc.). )
(three) proof of the purchase of real estate (sales contract, registration record, etc.). )
(4) All retail real estate mortgage loan applications
(5) Seal (landing seal)
2. What is the maximum loan amount for buying a house in Japan?
The loan amount and term of overseas buyers in Japan vary from bank to bank. Generally speaking, the loan amount of China people in China Bank is higher than that of Japanese Bank. According to the regulations of Suruga Bank and Bank of China (Tokyo Branch), China buyers can borrow 65.438+0.000 to 250 million yen, with the loan term of 654.38+0-25 years for residential real estate and 654.38+0-654.38+05 years for investment and other real estate.
Suruga Bank v. Bank of China (Tokyo Branch)
2. What is the process of buying a house with a loan in Japan?
Under normal circumstances, property buyers should apply for loans after signing the purchase contract and before the property transfer. It usually takes 3 weeks to apply for a loan, and it takes 1 month for a bank loan.
Flow chart of Japanese housing loan
The process of buying a house with a loan in Japan is divided into eight steps:
1. The buyer selects the property and determines the purchase budget.
After buyers choose their favorite property, they should determine the loan amount and method according to their acceptable budget.
2. The buyer submits a house purchase application.
The buyer submits the application for house purchase to the developer or the seller, and pays the down payment of 10%. In order to save time, buyers can go through notarization procedures at the same time as this process.
Step 3 sign the purchase contract
The average buyer can sign a formal purchase contract about 1 week after submitting the purchase application.
4. The lender submits relevant information to the bank.
Lenders need to submit ID card, passport, signature or seal, three-year tax payment record, three-year salary flow, employment certificate, physical examination report, single certificate or marriage certificate and other related materials to the bank.
5. Banks review the qualifications of lenders.
In this process, the bank will investigate and check the lender's identity, income, criminal record and other information to confirm whether the lender has the loan qualification.
6. Banks audit real estate
When reviewing real estate, banks are mainly responsible for evaluating the value of real estate and investigating the legality of real estate to ensure that the risks of both lenders and banks are minimized.
7. After approval, the bank will lend money.
The general bank will notify the loan time and amount one week in advance.
8. Real estate delivery and transfer
This process is followed up by judicial scribes (equivalent to domestic lawyers).
3. What should I pay attention to when buying a house with a loan in Japan?
China buyers who plan to borrow money to buy a house in Japan need to pay attention to two issues:
1. Repayment problem
(1) repayment ability
Before applying for repayment, buyers should calculate whether their income (such as rental income) is enough to repay the loan and ensure that they have the ability to repay the loan.
(2) Repayment time
After the loan, the repayment should be guaranteed on time. If it is overdue, the property may be confiscated if the circumstances are serious.
2. Loan interest rate
The loan interest rate in Japan is not fixed, but fluctuates according to the national benchmark interest rate. Although the loan interest rate in Japan has been generally low for more than 20 years, it does not rule out that the interest rate will rise sharply in a certain year.
When buying a house with a Japanese loan, China property buyers must know the relevant regulations of the bank in advance to determine whether they meet the loan conditions. Domestic foreign exchange control is strict, and the foreign exchange issues involved in repayment of loans need to strictly abide by the regulations of the state and specific banks. At the same time, we should also pay attention to the possible risks in the process of buying a house.