PR Application - Experience

[douglasxwilliams]

Thanks for those last two follow up messages. Yeah, my immigration lawyer/scrivener said the same...that the time has increased to 16 months now. So, i guess i will just be patient and hope something positive happens in the next 3 months or so.

Thanks!

[William]

It certainly looks like my next personal goal of acquiring an appartment won't happen in 2025 as initially thought, since I'm waiting for my PR...

[Wales4rugbyWC23]

It certainly looks like my next personal goal of acquiring an appartment won't happen in 2025 as initially thought, since I'm waiting for my PR...

You might want to try SMBC for a house loan without PR. I did it 14 years ago without PR.

[William]

You might want to try SMBC for a house loan without PR. I did it 14 years ago without PR.

Well, I planned to visit a few banks just for my own information and also to be quite open about my current situation (which is: I'm looking to buy a house, but I'm waiting for my PR to get the best interest).
I assume that even if SMBC is "kinder" than others, they will probably offer a higher rate as long as I can't justify my PR.

[Wales4rugbyWC23]

You might want to try SMBC for a house loan without PR. I did it 14 years ago without PR.

Well, I planned to visit a few banks just for my own information and also to be quite open about my current situation (which is: I'm looking to buy a house, but I'm waiting for my PR to get the best interest).
I assume that even if SMBC is "kinder" than others, they will probably offer a higher rate as long as I can't justify my PR.

Not my experience at all, and I have friends who have got mortgages without PR. Who knows there might be some people on this forum who got a mortgage with SMBC without PR. I was actually turned down by my local bank, who I had been banking with for about 10 years because I did not have PR.

[beanhead]

Yes. Mortgage with SMBC without PR when I first bought property.
I was in the process of getting PR, but the bank did not ask for any proof of that fact.

Interestingly enough, I was rejected by one branch of SMBC but offered a loan by another branch close by. These decisions on who is safe to lend to are made by the branch manager. At least they were at that time. Perhaps their AI lending assistant makes all the decisions now.

[RetireJapan]

It is definitely possible to get a mortgage without PR, but the number of banks that will offer one is a lot fewer, and they will often charge a higher interest late (but in some cases will lower it once someone gets PR).

Certainly worth making enquiries and seeing how they might fit into your plans.

[Moneymatters]

Yes. Mortgage with SMBC without PR when I first bought property.
I was in the process of getting PR, but the bank did not ask for any proof of that fact.

Interestingly enough, I was rejected by one branch of SMBC but offered a loan by another branch close by. These decisions on who is safe to lend to are made by the branch manager. At least they were at that time. Perhaps their AI lending assistant makes all the decisions now.

As someone also approved without PR, I have to wonder how these AI entities will learn how to “like the cut of someone’s jib” as it were.
As we gleefully accelerate into the chrome plated bosom of our shared dystopian future, (It’s a Metropolis reference).
I wonder how many of these gatekeeper roles will be given to AI. Access to state benefits, emergency services..
“I’m detecting stress in your voice Beanhead Six Echo.”

Maybe PR application processing will be given an AI overhaul.
Haha. I’ll see attack ships on fire off the shoulder of Orion before that happens..

[Deep Blue]

It's perfectly possible to get a mortgage without PR, or even without being resident in Japan. Just ask a few banks, especially the national banks as they deal with a wider range of applications. Prestia were very clear they'd be happy to lend without PR without a penalty interest rate when I asked them a few years back.

[William]

Well, thank you all for the advice and comments.
(I don't intend to derail the conversation of this thread, though )