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

Hi, is there can get a loan joint name with my girlfriend?
I need some advise for loan, is there any one can help?

Hi Kenny, it is not an issue to joint name with your girl friend to get a property. The only requirement is both applicants have working and S&P is same name as loan applicant.
Please do not hesitate to contact me @ 0123125010. I can assist you on loan processing.
Thanks

Joint name is workable as long as you can justify to the bank a reasonable relationship. Provided if you other half agreed with you if the bank officer call for verification, both have to say the same language.

Some bank even accept if you claimed if the person is your cousin. But of course both the income must be solid enough to fulfill the banks requirements. Otherwise you will encounter heaps of queries.

But frankly speaking all the credit officer need to make sure is the ability of the applicant to repay and their past payment history (via CCRIS report from Bank Negara system).

Do drop me a line should you need further inquiries or i can be contactable via 013-3808203.

Regards,

Martin Lau
D'Venture FlexiHome

Hi Martin,

I need ur advise....Nowadays price for landed property - Double storey link house can easily sell at RM570K. I\\'m wandering what are the requirement in order to get this kind of property? Is it personal account must have a lot of fund (at least more than 100k) then only bank will consider of loan approval? But imagine if such a normal executive level income, do u think is possible to get the loan approve?

Kindly advise....

Thanks


Regards
Lily

Li Lily,

Sorry for late respond. Double Storey Link (DSL) Property at resonable location now as you mentioned are all above RM500K. In order to evaluate your capability, bank will look into a few important criteria. To make things simple, here are some simple calculation:

Property Price RM500K, if you taking loan 90% margin and 30years loan tenure... with the condition that bank offering BLR-2.4%. Your estimated installment will be around RM 2,200. If your income is around RM 6,000 then you are on the save zone. Other criteria will assess is your commitment that you are having i.e. car loan, personal loan, credit card utilization and repayment record etc. If you dont have high commitment, then even RM5,000 income should be sufficient (provided your repayment record is good).

Should you feel that your income have not reach that stage, then you can either opt for joint applicant and combine income with your family members, spouse etc. However the relationship must be justifiable.

Talking about the savings, lets say if your months installment is RM 2,200 and your saving account can shows 3-6months to support your coming installment then your case is a solid case for an approval.

Hope these info should be sufficient enough for your to kick-start your venture in the property circle. Do feel free to drop us an email anytime should you need further clarification. Your crucial thing now is looking for a property than appreciate steadily. If you need more tips on choosing the right location do let me know, Unless you already have an idea the exact location you looking at.

GoodLuck,

Martin Lau
D'Venture FlexiHome