Mortgage in Bali

davita

davita

Well-Known Member
I wonder if any expat here in Bali, on a Kitas, has managed to get a bank loan/mortgage to purchase leasehold property.

I enquired to HSBC (Jakarta) about a loan/mortgage on 'hak milik' property but it was going to be troublesome as the nominee would need to accept the loan. I didn't enquire about leased property but thought I'd ask here before I approach the bank.
 
How could anyone on a Kitas own a property? If you answer that I'm happy to help you get a mortgage.
 
Markit said:
How could anyone on a Kitas own a property? If you answer that I'm happy to help you get a mortgage.
Click to expand...

You've missed the point of my question, and you know that I'm familiar with property rights, so your post is not helpful...:livid:

to repeat...has anyone managed to get a bank loan to purchase a lease on property?
 
Dear Davita my post was not meant to seem facetious.

To explain: no bank will give a mortgage on a property you don't OWN hence how can any Expat get a mortgage?

WE CAN'T OWN PROPERTY.

Your nominee (the true owner of "your" property) can get mortgages all day long if you give him "your" certificate, but is that a road you want to travel?

So I'm really not clear (and judging by the answers to your post, no one else is either) what your question is...
 
We are talking about a lease here right? So the foreigner lease the land (which he of course doesn't OWN Markit) but he owns the house on it (some balinese actually believe that they own it - just have to wait 25-30 years but they're wrong), so Davita asking if there's possibility to get a bank loan on this!
Given the fact that your IMB is probably not in your name and that you're not accountable (can get a ticket and leave any day) it's probably not easy. If you pay most of it and borrow just a bit from the bank they will probably do it and hope you can't pay :)
Never heard about anybody did it sorry
 
Markit said:
To explain: no bank will give a mortgage on a property you don't OWN hence how can any Expat get a mortgage?
WE CAN'T OWN PROPERTY.
Click to expand...

I heard yesterday, in person and not via an internet article, that we 'foreigners' are able to buy land in our own name providing it's 30 are or less
The person who told me was fairly convinced about that but I hadn't heard that before

Can anyone validate the claim?
Or, alternately, put it to bed?
 
I sought 'more information' from that person

They said a Notary in Denpasar - knows how to do it and has for foreigners
Previously was a Govt employee in Jakarta

Also, communication with them not easy, very often no reply to e-mails
 
paulseawind said:
I sought 'more information' from that person

They said a Notary in Denpasar - knows how to do it and has for foreigners
Previously was a Govt employee in Jakarta

Also, communication with them not easy, very often no reply to e-mails
Click to expand...


Message me his name and address .I close enough to visit
 
I'm clearly not asking questions about property my nominee owns, I already made that point. I was asking if some had found a bank that may lend funds to purchase leasehold property by using collateral as a guarantee.

Some banks are creative....I once partly-funded the purchase of a boat by depositing bank-share certificates ....from a competing bank. I've also built a house in Hong Kong by signing my life insurance to the bank...the house sold before completion for 10 X what I paid so the bank saw me as a preferred client.

I plan to ask HSBC if I can use fixed deposits I have in their Jakarta (IDR) and KL banks (MYR) as collateral to partly-fund a lease property in Bali.
I just wondered if anyone had done similarly and what kind of response I might expect. HSBC are not so generous in this respect as they're more concerned about International affairs and multi-billion business.

btw I think a change in the RI Constitution regarding the Agrarian Law would attract the media...such a change would need a Parliamentary Committee to discuss for weeks, so I would expect big news.
 
[MENTION=11670]davita[/MENTION] Try approaching the "little"Banks as they are way more lienant and have ways of paying more interest on term deposits legally then the law allows.I am sure a few of them would have a way .Personally I doubt HSBC , Citibank or even BNI,BCA,BII,CIMB,Permata etc would be of any help
 
One way to get cash for your purpose is to use collateral in another country where they will give you funding, in that country
Then just forex that money into here and you're ready to go
 
Try commonwealth bank -
according to their website the requirements are :

•Borrower must have KITAS (Work & Stay Permit) & NPWP (Indonesian Tax File Number)
•Age: minimum 21 years or married
maximum 60 years at the end of credit
•Domicile: any cities with Commonwealth Bank representative offices
•Minimum monthly net income for both husband & wife is IDR 15 million (or equivalent)
•Accepted land title is Right to Use (Hak Pakai)

:: Commonwealth Bank ::
 
Smoke said:
[MENTION=11670]davita[/MENTION] Try approaching the "little"Banks as they are way more lienant and have ways of paying more interest on term deposits legally then the law allows.I am sure a few of them would have a way .Personally I doubt HSBC , Citibank or even BNI,BCA,BII,CIMB,Permata etc would be of any help
Click to expand...
Thanks smoke...that is along the lines I was hoping to get a response...can you identify any of those banks that might be willing to comply with my business plan.

paulseawind said:
One way to get cash for your purpose is to use collateral in another country where they will give you funding, in that country
Then just forex that money into here and you're ready to go
Click to expand...

I could do that but don't want to borrow in one currency and create income in another to pay it back ....ask Freddie Laker (Laker Airways) the folly of that. Sorry, you can't...he also died!

The bottom line is I do have liquid assets (shares) in diversified currencies and may have to sell and use currency exchange to continue my plan.
 
natta said:
Try commonwealth bank -
according to their website the requirements are :

•Borrower must have KITAS (Work & Stay Permit) & NPWP (Indonesian Tax File Number)
•Age: minimum 21 years or married
maximum 60 years at the end of credit
•Domicile: any cities with Commonwealth Bank representative offices
•Minimum monthly net income for both husband & wife is IDR 15 million (or equivalent)
•Accepted land title is Right to Use (Hak Pakai)

:: Commonwealth Bank ::
Click to expand...

Thank you Natta...I was salivating at your post as it is exactly what I was looking for till...sadly...it came to the point of age. The loan must be repaid by age 60...for me that was over 17 years ago.:cupcake:

But thanks for your help.
 
Actually Davita several come to mind. I even have yearly calenders from a few. But to post these banks publically where Google,other search engines and the RI goverments can see it is not fair to these banks.
 
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