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Financial How long time to have loan approve?, For public bank
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whojen
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 Jul 14 2009, 04:12 PM
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Hey Guys
I am Mortage Consultant in PBB Bank Penang
Some of the statement is untrue. Maybe is really depending on the location(KL)
But for Penang,
Standard case: Letter of Offer can be release in 3 days.
Much Complex case such as 1mill above normally around 5-7working days
But no doubt, as a mortgage consultant, Some branches can take a long time to process your loan. For us in Penang, It really depends on the Braches Credit Officers.
For KL it is different as most of the application is done through central, Head Office. That why slower
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whojen
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Jul 18 2009, 08:53 AM
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QUOTE(HappyGuy @ Jul 15 2009, 12:37 AM) Do you mean that for branch in Penang can approve the loan? Perhaps this is the reason can get the LO faster compare to KL which head office have to handle large volume of applications for numerous of branches in KL & Selangor. For my case, it is pending very long to verify developer financial. Even though the loan already approved and we knew the rate already, but the LO still cant be issue, due to developer status haven't verify yet. So I believe in my case, the waiting time should be same/not big different across all region in Malaysia, as the process should be same. basically from your explanation, it has nothing wrong with you and your application. the bank is now either doing a search upon the developer ( could be financially, or etc as well) developer issue with bank now only. so sorry to hear that. what you can do is call the head office and give your case. where is my letter of offer now and etc bla them out |
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whojen
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Jul 24 2009, 12:21 AM
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actuallly
if full documentation such as Strata Title( which is very important) and vendor name is given
it would help to increase the speed of processing
normally with full documentation, officer do not have to chase here and there to get missing documentation , to submit the case for approval.
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