So after 5 days of paperwork. Here is the low down or my story.
We found a really great new build near Longquan a few minutes from the new subway. We chose Longquan for location and price, because within the third ring road is just two expensive. Also for me it’s about space I can have a 130sq for the same price as a 70sq within the third ring road.
The government changed the housing laws regarding Chinese married to foreigners in Aug 2012. If you marry a foreigner and want to buy a house you both have to be on the mortgage agreement.
90% of building companies do not have the license to sell to foreigners. So the property will be in the Chinese spouse name.
Documents needed from foreigner.
Letter from Employee confirming salary and any bonus details.
Foreign Experts certificate
Police residency certificate
6 Months bank statements stamped by bank manager
Certificate of no property. ( You need to go to the local government new property department to confirm no other property is in your name. )
You need to find the local government Notary office. You need a signed letter stating that your partner will be named on the property, but you will also be paying the mortgage. They will give you twelve copies. You also need another letter stating that you are able to repay any mortgage payments just one copy. Cost 1300rmb.. Please note you will be asked in Chinese if you agree with the terms if you can not answer its a no go.
Next step you need to pay the deposit for the apartment 30% min. Sign contract and get receipts.
Next the Bank
The bank of choice is supplied by the building company. Ours was ABC bank.. you need to give them all the above documents and open an account with them. This is done via the bank manager not over the counter. Cost for application is 200 rmb.
The bank will confirm after one month if they approve the mortgage.
So we have paid the deposit just waiting for the bank to confirm. If the bank say no (which is very unlikely) we have 90 days to find another mortgage provider.