Based on research from Bank Indonesia in 2021, the mortgage industry in Indonesia is worth $39 billion, with a projected growth of 17% CAGR over the next five years.
Currently, 75% of home purchase payments in Indonesia are made through mortgages, yet the majority of prospective home buyers do not understand the application process. Many buyers often complain about the complexity of the mortgage application process.
This is due to the large number of required documents, the lengthy and non-standardised process, a lack of sensitive data protection, limited product information, and more.
Benefits of Using a Free Mortgage Consultation
An advantage of having a mortgage consultation is you can apply for a mortgage more easily without thinking about the regulation and other challenges.
You can have a face-to-face appointment. This is very valuable because the consultants are very aware of the lenders’ criteria, meaning that you won’t be wasting any time applying for products that aren’t suitable to you. They can also help you to get a property with a best deal of money.
You can also have a reassurance that the agent is dedicated to help you. They can explain more complex situations and build a rapport, as you decide to apply a mortgage.
Some clients may feel uneasy about sharing sensitive financial information online, preferring the security of visiting a physical office.
Let’s Move Group’s real estate agents are here to assist both expatriates and Indonesians in applying for a mortgage on the property of their choice. With a focus on regulatory compliance, digital transformation, and data security, Let’s Move Group is ready to simplify the mortgage application process through free mortgage consultations.
This strategy is expected to help many individuals seeking to obtain a mortgage for a property in Indonesia. Let’s Move Group is committed to assisting without any fees or commissions during the consultation process.
With a client-oriented approach, Let’s Move Group is dedicated to providing responsive and solution-driven services, ensuring the right strategy to secure the best mortgage offer.
Currently focusing on Jakarta and Bali, they have partnered with many of the country’s leading property developers and several major banks. Let’s Move Group helps first-time home buyers, particularly expatriates in Indonesia, navigate the mortgage process with ease and clarity.
Consult your financial situation for a suitable mortgage programme free of charge here.
Important Considerations for Expatriates Applying for a Mortgage
Since foreigners are not permitted to purchase properties with freehold status, a period of use applies to houses and/or flats/apartments purchased by foreigners.
These provisions are stated in Government Regulation No. 103/2015 on the Ownership of Residential Houses by Foreigners Residing in Indonesia.
It states that a single house built on land under hak pakai (right of use) that can be owned by foreigners is granted for a period of 30 years and may be extended for a further 20 years.
Upon the extension period’s expiry, the right of use can be renewed for a further period of 30 years.
For a single house on hak pakai land under hak milik, the agreed period must not exceed 30 years.
Hak pakai can be renewed for a maximum period of 20 years, as agreed with the land rights holder.
Following this, it may be renewed for a maximum period of 30 years, subject to agreement with the land rights holder.
Easy Steps to Obtain a Mortgage Consultation with Let’s Move Group
Choose a Property and Strategic Location
Search for your dream home on the Let’s Move Group website or select your own desired property. The search is even easier if you already know the location of your ideal real estate.
Free Mortgage Programme Consultation
Discuss your financial situation to find a mortgage programme that meets your needs. As an expatriate in Indonesia, you can inquire about the requirements for applying for a mortgage. Furthermore, you can obtain information on which banks are collaborating to streamline the mortgage application process. This consultation is entirely free of charge!
Mortgage Application
Complete the necessary supporting documents, and a Let’s Move Group agent will submit your mortgage application for your chosen property.
Move into Your Dream Property
If your application is approved, you can move into your dream property in no time with a highly beneficial mortgage.
