Mortgages for non-Japanese speakers

[Tkydon]

Star Bank Tokyo and SMBC both refused to give me a loan because the property is too far away from one of their branches.

Chiba bank won’t give me a joint mortgage with my Japanese wife, even though I have PR, because I cannot speak Japanese to a good enough level.

The hunt for a provider goes on but any more hints would be welcome.

Try Aeon Bank.
Also, SMBC Trust Bank Prestia, though Prestia loans tend to require a higher down payment.

They won't give you a joint Mortgage on the property unless your wife has income and is on the Deed, and she is paying her portion of the total costs.

If you put her on the Deed, but she doesn't contribute to the total costs in the proportion of her ownership, then the Tax people will consider that to be a Gift subject to Gift Tax.
You should be careful and consult a tax professional regarding your plan so as not to incur unexpected taxes.

UoB Singapore has also been known to lend on Japanese properties.
https://www.uob.com.sg/personal/borrow/ ... -loan.page

[Deep Blue]

I wouldn’t consider a foreign bank like UOB if I were resident in Japan. Their rates are much higher and the documentation and conditions are more stringent than getting a mortgage with a Japanese bank.

They are a good option for non-residents to get a mortgage to buy a property in Japan but far far far from a good option for people living here.

I did have a mortgage with UOB for a UK property and they really nickel and dime their customers. Some of the absurdities I remember were a fee on transfers, they’d charge a few basis points to receive incoming payments… and when I came to sell
I had to pay for THEIR lawyers too, as well as my own.

So, yes, overseas banks like UOB are an option for those who can’t borrow from Japanese banks but I really wouldn’t recommend for anyone living here with access to cheap financing from Japanese financial institutions.

[Wales4rugbyWC23]

I wouldn’t consider a foreign bank like UOB if I were resident in Japan. Their rates are much higher and the documentation and conditions are more stringent than getting a mortgage with a Japanese bank.

They are a good option for non-residents to get a mortgage to buy a property in Japan but far far far from a good option for people living here.

I did have a mortgage with UOB for a UK property and they really nickel and dime their customers. Some of the absurdities I remember were a fee on transfers, they’d charge a few basis points to receive incoming payments… and when I came to sell
I had to pay for THEIR lawyers too, as well as my own.

So, yes, overseas banks like UOB are an option for those who can’t borrow from Japanese banks but I really wouldn’t recommend for anyone living here with access to cheap financing from Japanese financial institutions.

On the whole a quite negative experience with UOB for a UK buy to let? Have you gone through a British bank or building society for a buy to let loan. If you don't mind me asking why did you go through UOB?

[Deep Blue]

It was the best option I could find at the time. This was more than a decade ago though, and there could be better options now. Most UK banks and building societies require you to be UK resident to take out a mortgage. I think HSBC Expat might be a good option now.

[Wales4rugbyWC23]

It was the best option I could find at the time. This was more than a decade ago though, and there could be better options now. Most UK banks and building societies require you to be UK resident to take out a mortgage. I think HSBC Expat might be a good option now.

There are quite a few small Building societies that offer expat mortgages; Newbury, Suffolk, Skipton to name but a few. I am with the Newbury and Suffolk. I applied for Lloyds about 15 years ago, but they turned me down.