Property in Malaysia for sale and rent | Buy, Rent and sell real estate and homes

Hello there me and my brother in law planning to a buy. We even paid the 1st 3% amount to book the house. My salary is 3k permonth. i am declaring 3k income tax. My bro in law salary is 1.6k. So combined salary is 4.6k. The house price is 409,999. We both doesn't have any commitment so hsbc and ocbc cant offer us 90% due to some reason which i find preety awful!. No commitment can't get 90%!...Damn. Any other bank can offer us 90% or 100% loan? Btw i am 25 and bro in law is 23. Need help urgently! Thanks.!!

Hi Manan,

Do bear in mind that your installment for RM409k (90% loan = RM 370k) installment should me around RM1,700-1,800. A standard bank criteria will look into your loan servicing ratio 1/3 or your combine income i.e. meaning combined income with your brother should be RM 5,000-6,000. In actual fact your both income is below that range. However some bank will also take into consideration of race, occupation level and company that you working with to determine your scoring in the system. Should your scoring fall below the minimum scoring then your case will be either being reject or slash on the margin.

To over come this case, i will recommend you to bring in a guarantor be it your father or other siblings.

Regards,
Martin Lau

Sir i forgot to mention that they are offering 5% discount on the 409k. so the price after discount it 389k+? I am working as supervisor in my dad's company . Difficult to bring in my father because he have alot of commitments..

Hi Manan,

Based on your case, you still can settle this case under your name and your brother in law name, due to your both salary after deduction, I assume that is around RM 4000, I can help you to submit this case, only the tenure is slightly longer (may be up to 35 years due to you both still consider young).

Please do let me know more details in PM. After that I can advise you with different solution.

Thank you.

Best Regards,

Marvin Teow
Financial Advisor

Other than income and commitment factor, bank will consider savings balance as a factor.

Victor
CIMB Mortgage Advisor
KL/ Selangor

Hi Manan,

Based on the information given, 90% loan should be no problem for you. If you looking for Fixed Rate through tenure (the rate will not fluctuate accoring to BLR)

Have a nice day.

Jasmine