Loan product
A transparent mortgage product
YEN LOANS offers the All Japan Tracker: a yen first-mortgage loan collateralized by qualifying freehold strata-titled apartments/condos, priced as 1-month TIBOR plus a fixed 3.50% and reset monthly. All loans are full recourse to the borrower. No Japanese income, visa, residency or bank account is required.
Our product Tracker
All Japan Tracker
Variable rate · indicative 4.73673% p.a. · reset monthly · ref. 1 September 2026
A mortgage product for non-resident buyers of qualifying urban apartments. Fully amortizing, full recourse, with an optional interest-only period.
- Maximum LTV
- 65%
- Maximum tenor
- 35 yrs
- Loan size
- ¥15–525M
How the rate is built
| Indicative rate · 1 September 2026 | |
|---|---|
| Base — 1-month TIBOR | 1.23673% p.a. |
| Fixed rate | + 3.50% p.a. |
| Indicative base rate | 4.73673% p.a. |
| Premiums, where applicable | |
| Large-loan premium (over ¥150M) | + 0.50% p.a. |
| Interest-only period (max 5 yrs) | + 1.00% p.a. |
| Reverts, after the interest-only period, to | the base rate |
Reference rate published by the JBA TIBOR Administration; reset monthly, so your rate moves with 1-month TIBOR over the life of the loan. Final pricing is subject to credit assessment and security review under the Money Lending Business Act.
A one-look summary of the All Japan Tracker — rate, terms, fees and eligibility — to keep or forward to your broker or adviser.
What you can use it for
Purchase
Buy a qualifying urban apartment across our coverage areas — with income, banking and residence all outside Japan.
Refinance
Move an existing loan on an apartment you already own onto the tracker, on our published terms.
Equity releaseCash-out
Draw cash against an apartment you hold — no sale, no disposal, and no capital-gains event.
Whichever applies, the terms are identical. See who it is for on Eligibility & where we lend.
The reference rate
What is TIBOR?
TIBOR is the Tokyo Interbank Offered Rate: the benchmark rate at which Japanese banks lend yen to one another, published every business day by the JBA TIBOR Administration. It is one of the reference rates commonly used for lending in Japan.
Your rate uses the 1-month tenor. On each monthly reset we take the current 1-month TIBOR and add the fixed 3.50%; that sum is your rate for the month ahead. The 3.50% never changes, so your rate moves only when TIBOR moves.
Because it is a tracker, your rate moves with 1-month TIBOR in both directions. If TIBOR rises:
| 1-month TIBOR | Indicative rate | Monthly · ¥100M / 30y |
|---|---|---|
| Today (1 September 2026) · 1.23673% | 4.73673% | ≈ ¥520,800 |
| + 1.00% · 2.23673% | 5.73673% | ≈ ¥582,700 |
| + 2.00% · 3.23673% | 6.73673% | ≈ ¥647,700 |
Illustrative, on a ¥100M loan over 30 years; the 3.50% is fixed, so only TIBOR changes — and it can fall as well as rise. 1-month TIBOR sat close to zero for much of the past decade and has risen as the Bank of Japan normalises policy. Model your own figures
Why is our rate higher than a Japanese lender's? Please refer to the FAQ
Repayment structure
Interest-only option
The loan is fully amortizing by default. You may instead take an interest-only period of up to five years, after which the loan reverts to normal amortization for the remaining term.
During the interest-only period the rate carries a +1.00% p.a. additional premium and your payment covers interest only — no principal is repaid, so the outstanding balance does not fall. When the period ends, the premium is removed and the loan reverts to the base rate, amortizing over the remaining term. It is most often chosen by investors letting the property, so that rental income covers the payment in the early years, and by buyers who want to keep cash in hand after settlement.
Because nothing is repaid during the interest-only years, the monthly payment steps up when amortization begins — the same principal is then repaid over a shorter remaining term. Model both figures before choosing this option: the calculator shows the interest-only payment and the higher post-reversion payment side by side.
The detail
Full loan terms
The complete specification for the All Japan Tracker. Individual pricing and final terms are confirmed on credit assessment and security review.
| Product | All Japan Tracker |
| Loan type | First-mortgage loan, fully amortizing (optional interest-only period) |
| Currency | Japanese yen (JPY) |
| Interest rate | 1-month TIBOR + 3.50%, reset monthly — indicative 4.73673% p.a. (as at 1 September 2026) |
| Large-loan premium | + 0.50% p.a. on loans above ¥150M |
| Interest-only option | Up to 5 years; + 1.00% p.a. during the interest-only period, reverting to the base rate thereafter |
| Effective annual rate (実質年率) | Within 14.6% p.a., calculated on the principal net of fees |
| Late-payment charge (遅延損害金) | Up to 20.0% p.a. |
| Early-repayment penalty (期限前返済違約金) | For the first 36 months, charged on prepayments above 10% of the annual loan balance: 3% in year one, 2% in year two, 1% in year three. Prepayments up to 10% a year (minimum ¥500,000) carry no penalty; none from month 37 |
| Maximum LTV | 65% — reduced to 50% for loans above ¥250M, second homes, or short-term rentals |
| Loan size | ¥15M – ¥525M |
| Loan term | 2 months to 35 years |
| Number of repayments | 2 to 420 monthly instalments |
| Borrower age | 20 minimum; must be under 80 at loan maturity |
| Building age | The loan term may not extend beyond 50 years from the building's construction |
| Affordability | Assessed against verified income and existing debt commitments, in line with our lending criteria |
| Repayment | Equal monthly instalments of principal and interest (元利均等返済) |
| Repayment date and method | The 27th of each month (the next business day if a holiday), by automatic debit from a Japanese bank account, or by transfer to our designated account |
| Property manager | Required, and approved in advance, where the property is not your residence or you do not hold a Japanese bank account |
| Recourse | Full recourse to the borrower |
| Security | First mortgage over a qualifying, strata-titled urban apartment |
| Document languages | Income verification in English, Chinese or Japanese; offer documents in English |
| Eligible borrowers | Nationals of eligible countries and regions, and certain Japan permanent residents — see Eligibility |
Selling before the end of the term, repaying early, and what happens if you fall behind are covered in the FAQ.
Arrangement, valuation, registration and judicial scrivener fees apply in addition to interest; the full schedule is set out under Fees. Indicative rates shown reflect 1-month TIBOR of 1.23673% p.a. as at 1 September 2026 plus 3.50%, reset monthly; premiums apply to loans over ¥150M and to the interest-only option. All loans are full recourse to the borrower and subject to credit assessment and security review under the Money Lending Business Act (MLBA). Effective annual rate (実質年率) within 14.6%, calculated on the principal net of fees; late-payment charge up to 20.0% p.a. Applications are subject to careful review and may be declined. Please check the terms of your agreement and borrow within your means. 慎重な審査の結果、お申込みの意に沿えない場合がございます。ご契約内容をご確認のうえ、ご利用は計画的に。 The approved Japanese disclosure is published in full under 貸付条件の表示.
Terms last reviewed .