Jun 23 2009, 12:22 PM
QUOTE(lemon^and^strawberry @ Jun 22 2009, 02:43 PM)
Does it helps if I have a backup property of worth 50% of the new property I m getting? Or you guys suggest to do early settle my car loan? I asked the banker if earlier settle only discount Rm3k.. seems not worth. Might as well put more into the new property d/p.
Actually for the loan will be into my name and mum. But my sis and a friend will be staying together. So they will be paying me some rentals.
Does it helps on the approval?
is your backup property rented out? Actually for the loan will be into my name and mum. But my sis and a friend will be staying together. So they will be paying me some rentals.
Does it helps on the approval?
if yes you could use the tenant agreement as prove to the bank that its an additional income for their consideration.
if not, you could create a tenancy agreement and rent it to say your sister at a full priced market rate (of course you dont collect anything from her) and get it stamped and then every month bank in this amount into your savings account (with your own money) as prove that you receive rent. the banks normally accept it... the bad side of this is that you may have to declare it as additional tax, but there are ways to reduce this tax thingy...
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