Hi,
I checked this community and found a similar question about six years old and not quite the same as mine:
I need about 3M JPY to buy a property in Europe. All the banks I’ve visited told me they only lend money for buying houses in Japan. My question is: is there any way I could get a loan for buying this property OR a loan for general purpose that I can use for the same purpose?
I’m permanent resident on a permanent contract at a university.
​
Any suggestions are very appreciated.
4 comments
You can get a Card Loan from many of the big banks (no specific reason needs to be given) and if your credit is good, there is a reasonable interest rate, under 5%.
You’re not going to be getting any kind of typical mortgage loan. Typical property loans use the property itself as collateral, and the financing organization puts a lien on the property. Japanese companies can’t put liens on foreign properties, so a typical loan is out.
You will need to get some form of unsecured loan, which is usually more difficult to get due to the lack of collateral. As /u/KenYN mentioned, card loans are possible, but you have to be careful about the interest rate. It can be good, or it can be 15%+.
Depending on your university, there might be something like a “mutual aid society” / kyosaikai that offers unsecured loans for faculty.
What property can you buy in Europe for 3 million yen?