How much property loan can I get?
You can get maximum up to 90% loan margin for your first and second property loan. For the subsequent property can get 70% loan margin.
How long does it take to process a loan for property?
Usually take about 7 -14 days, upon full loan document received by the banker.
As a purchaser, do I need to appoint a lawyer? Can I choose my own lawyer?
Yes, you need to appoint a lawyer to present you. And yes u can choose your own lawyer, or use our company panel lawyer.
Who shall pay for the legal fees on sales and purchase agreement and loan agreement?
Purchaser and vendor shall pay for the legal fee, purchaser takes higher margin. It is also subject to the sales and purchase agreement and loan amount.
Do I need a guarantor for a loan facility?
Subject to bank policy and requirement. Most of the bank prefer joint borrower instead of guarantor.
How long is the grace period for payment of my monthly instalment/interest?
Have to pay before / on the date required by the bank stated on the issued letter.
Can I purchase a house under joint names and apply for the housing loan only under my name?
Can, as long as borrower is one of the joint ownership.
If the developer abandons the project, am I still required to service my interest/instalment payments?
Yes, the agreement is establish between you and the bank, but not the developer.
Should I consider refinancing my loan if I am offered a lower interest rate?
You may consider the worth amount of the low interest rate with the incurred payment such as legal fee and stamp duty.
How much is the professional fee to sell my property?
According to the Board of Valuers, Appraisers, Estate Agents, and Property Managers Malaysia (BOVAEA) is maximum 3% of selling price.