If I buy an appartment with a Japanese friend (50%,50%), would we be able to get a loan as he is Japanese?

Question

lijianh · Answer

the japanese friend being the borrower is basically the only way this works, but there's a catch with the deed. if you're both on the title as 50/50, the bank might treat the loan as a joint obligation anyway, even if only one name is on the contract. i'd ask about "rentai hoshou" (joint guarantee) upfront, cause some lenders will demand it from the non-borrower owner, which means you're both equally liable for the whole debt.

also, look into the "kyoyu" (co-ownership) rules at the ward office. if one of you is a non-resident or not on the juminhyo, the property tax notice might get sent to the other owner only, and that can cause delays. a cheaper option some people use is a "tatemono kaitai" loan from a shinkin bank, where they don't care about residency as much, but the rate is like 2.5% vs 0.9% at a major bank. just be ready for the paperwork to take twice as long.

sabrina · Answer

yeah it's possible but the 50/50 split is gonna be your biggest hurdle. most banks here want a single borrower, so one of you will have to be the main name on the loan even if you both own half. that means the other person's income doesn't really count for the bank, which can mess with how much you can borrow.

another thing nobody mentions is the tax side. when you buy together, the registration and property tax are split by ownership ratio, but if one of you is the main debtor, the bank might require the other to sign as a joint guarantor. that puts the guarantor on the hook for the full amount if things go south, so make sure you both understand that risk.

also, if you're not a permanent resident, some banks flat out refuse unless you've been here 5+ years or have a spouse visa. your friend being japanese helps but won't override that. you might get better luck with a regional bank or a shinkin bank that's more flexible, but the interest rates will be higher than what mufg or smbc offers.

fraenzebehrend · Answer

honestly the loan part is doable if ur friend has steady income and u have a visa that allows work here, but the real headache is the ownership structure. banks here get nervous with 50/50 because they want one clear debtor, so theyll likely ask for one of u to be the main borrower and the other as a guarantor. also check the management union rules, some buildings require all owners to be residents and that could block u if ur not living there full time. if ur friend has a good credit history with a major bank like mufg or smbc, ur chances are way better than if u go to a smaller lender.

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