RetireJapan

We’ve just been approved by APLUS Banking for a flat-35 housing loan on a new build. Scary as hell, but that’s another story.

Our estate agent told us yesterday that we have to start paying the loan as soon as possible; next month. It seems like they want to get the house off their hands as soon as possible to reduce their costs.

Since we weren’t sure when or even if we’d be able to move out of our current place (Seiwa chintai mansion) we haven’t been able to give a one-month notice yet. The way things stand, we’ll have at least one month of both loan repayment and rent to pay.

We’re going to try to negotiate with the bank directly to start the loan repayment in February.

Does anyone have experience with this kind of situation? Thanks for reading.

How about not paying the rent, which might then be settled up being taken from any deposit that might be returned to you.

And even if that's already zeroed out or even negative, you're leaving that place and it's on the backside of everything. If you're late, then the realtor/owner will be unhappy, but if you're a month or two late getting that settled, just some ruffled feathers.

In this scenario, then go ahead and make the first bank payment on time.

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Separately, it sounds like you've cut things pretty close. This is what an emergency fund is for.

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Edited to add: I'm not sure if the delay in starting payments to the bank is normal or not. If it isn't, then go with the above strategy. But if others check in here to say it's normal, or that they did the same thing with no problems, then that becomes an option/choice.

Do you have an emergency fund? Perfect time to use it.

I was able to start my loan payment 2 months after having paid, and moved into, the property, so it should be possible to delay by a month or two.
Worth checking with the bank, as they should allow you to choose among several repayment days when you sign the contract. I got to choose between making my payments on: 5-12-20-27th of every month (I picked the 27th, after I get my salary).

It went like this:
Late April: Money received from the bank on my account-> immediate fund transfer to the seller, agent, etc.
Moved in the last day of the month
First Payment: June 27

This gave me 2 months (April and May) of no rent/no loan repayment.