Bank Loan

[mich2bunny]

Hi, Is it possible to get a loan from Japanese bank (low interest rate) if you live in AU? Or using AU property as security. The currency risk is minimal base on the last few years' trend. Any advice will be appreciated.

[Effected After]

Most likely not. It's almost impossible to get a loan as a foreigner without permanent residence. I'd imagine it's probably as near to impossible as you can get for foreigner not even residing in Japan getting a loan.

That said, I've never tried nor known anyone who did, so I'm purely speculating.

[mich2bunny]

Thanks for your reply. Although Japanese banks are eyeing AU home loan market now and will expand to down under. But no doubt the interest rate will be on par with the local banks in AU.

[mandm]

Since the title is "Bank Loan" I wanted to ask a question that is along the same lines but then again completely opposite (pretty much like Japan) so I decided to hijack this thread.

Anyway, has anyone ever tried or had luck getting a bank loan or even credit cards from their own country while working in Japan? I mean after you came to Japan, not that you had a bank/credit card loan and just kept it while moving to Japan and then made the payments. If so which bank?

Since I'm in Japan and have a stready job you would think that this would be sufficient for a bank? Or is it just too hard for banks to verify this information?

[hennagaijin]

Since the title is "Bank Loan" I wanted to ask a question that is along the same lines but then again completely opposite (pretty much like Japan) so I decided to hijack this thread.

Anyway, has anyone ever tried or had luck getting a bank loan or even credit cards from their own country while working in Japan? I mean after you came to Japan, not that you had a bank/credit card loan and just kept it while moving to Japan and then made the payments. If so which bank?

Since I'm in Japan and have a stready job you would think that this would be sufficient for a bank? Or is it just too hard for banks to verify this information?

Will depend on your situation, which home country and which bank.

I can borrow money in my home country because I have assets and income there, and a long history with the bank.

Best to ask some banks and see what they say.

[Rickster]

Hi I have a line of credit in Australia for investment properties. As the Japanese bank home loan rates are significantly lower than the Australian banks, is it possible for a Australian to refinance through a Japanese bank based in Japan?

[hennagaijin]

Hi I have a line of credit in Australia for investment properties. As the Japanese bank home loan rates are significantly lower than the Australian banks, is it possible for a Australian to refinance through a Japanese bank based in Japan?

Only if you live permanently in Japan, have good income here and the bank can hold security over property here.

What you own in Oz is irrelevant to them here.

If you pass the above.. go here:

http://www.englishfriendlyjapan.com/shinsei-bank-tokyo

[girlygirlinjapan]

I am interested to know how you were able to buy even one property without permanent residency. Please advise!!
PM me if you prefer!!
Thanks!!

Sorry that I join this discussion after 3 years!!! I can't help but share with anyone for my "Robert Kiyosaki" experiences in Japan.
I have bought land, build a designer house, bought several multi-unit mansion buildings(not single unit) with huge loan over a few million US that I thought I coudn't get as a salarymen.

1. Getting a loan for gaijin is much easier now, even without permenant resident. Some foreign will be happy to lend you.
2. If you have permenant resident(married to Japanese), you can get better loan bottom low interest from Japanese bank.
3. Loan period usually depends on your retirement age and the life of the property.
4. Sorry to say the above is good if you just want a place to live, but is old school of thinking, why? As the biggest selling financial educator mr. Robert Kiyosaki" said....get a loan for your house is NOT an asset, is a liability cus' the bank is the owner.
5. I have made this mistake since I bought a land, designed and order made my house. I love it but still is a liability.
6. Japan is a Paradise for "income gain investment", not capital gain. Followings are summary of my years of learnings:
- rock bottom low interest, almost like nothing.
- rock bottom but stable price compare with anywhere in Asia
- really high rent return compare with many financial investment
- Japanese are the nicest people in the world to pay rent and up keeping your property
- tax refund for the first few years if you know how to do it
- stable income coming in while you sleep, work or on vacation
- minimum time spend to manage. I visit my properties 3 times a year and is over 93% occupancy
- laws in Japanese and strict evaluation with banks protect you from making the wrong decision
- lastly, if you have a stable income for the past few years, plus found a good value property, the banks will love to lend you Big loan. I mean good debt (vs bad debt) since your income is MUCH higher than your bank payment, hence passive income.

I only recommend property with land, NEVER buy single unit.
Think big cus' these are all calculated risks, doing nothing and worry the sky will fall is the most risky.

I am an investor turn coach to anyone who is interest to hear more, Japanese or gaijin welcome.
Contact me at kevinmiojp@yahoo.co.jp

Kevin

[fknandrew]

Would anyone know if it is possible for a Japanese person (with foreign husband) to acquire a loan in Japan to purchase a home in the foreigner's country? I just want to capitalize on the interest rates.

[hennagaijin]

That question was already asked and answered today.

Is the foreigner Steve the Australian, by any chance?

By the way, the answer is "extremely unlikely".

[fknandrew]

Thanks Henna gaijin. The foreigner is me, and I am not the australian guy. Just curious how people with connection with Japan take advantage of the low interests.

[Brown Cow]

The currency risk is minimal base on the last few years' trend. Any advice will be appreciated.

The currency risk is substantial and the last few years are no guide at all. Honestly - there is nothing more unpredictable than exchange rates. If you are taking out a mortgage it will be for 25 years or so and there is no telling how exchange rates could affect the repayments. It makes an awful lot of sense to have the loan in the same currency as your income.

[ttokyo]

Hi, Is it possible to get a loan from Japanese bank (low interest rate) if you live in AU? Or using AU property as security. The currency risk is minimal base on the last few years' trend. Any advice will be appreciated.

Why does the bank need to be Japanese ? I'd guess that also Australian Banks would offer Yen loans. I'd also think that this 'Japanese bank' must have an office in Australia - it's very unlikely that they will give a loan to a person living overseas.