Hi guys,

To purchase a subsale house,after signing the S&P,by right we should proceed to find bank for homeloan.I have talked with few bankers,they mention need to evaluate the house price first.My question is if let say the subsale house is 300k,but bankers evaluate the house only cost 280k,is that mean i need to cash out 18k more by myself?(bank only loan 280kx90% loan=252k,to pay 300k,300k-252k-30k(10%deposit)=18k).Hope anyone in this forum can help me on this issue?

Yes you need to cash out another 18k more cash or find a bank that allows financing more than 90% (if any).

You can ask the bankers to get another valuer to value the property (ie another valuation exercise). At times, other valuer will give some additional allowance subject to within a reasonable range. If not, get another bank as market value differs from bank to bank (although not in a big variance).

Hope this explains.

Thanks for the reply.Is it often the banker evaluate price lower than subsale price even though all the subsale price at that area is 300k?As a first time buyer like me,how should I know the market price?Is it any way I can find out?Coz I got ask banker before,but all of them want to see the Letter of Offer first?Sounds like no matter what I need to pay the 2% earnest deposit first in order to get the Letter of Offer.

yes, you need to pay the earnest deposit first to get the 'booking fee receipt' only the bank will proceed with giving you the letter of offer.....

You can ask the bank to give a verbal quotes first. Most banks can get it done in a day or two.

Hi guys,i got another problem.One of the banker told me that if the applicant is working in Singapore,is hard to get home loan,unless you apply together with your siblings who work in M'sia.OMG,is it true? I still holding Malaysia Passport and IC,how come I couldn't get the homeloan?!!!Is there anyone can help me on this?Got any banks have the exception?But i'm wondering,Johor state got a lot of people are working in Singapore but stay in Johor,how they can get the home loan?

do you have fixed deposits in malaysian banks? i think that would help as well

Hi leongal, thanks for the reply.I dun have any FD in Malaysian banks,but is it easier to approve home loan if I hv FD account?

for bankers, having lots of FD means you are a save customer to lend money to

ya, bigger amounts, not rm1k like that

yes they do...some of the bank required for u to work in Malaysia to eligible housing loan from them...I would say..Al Rajhi Bank...maybe their policy...but u still can find some other local bank or insurance company which widely open for this...good luck

no such rule, atleast from ocxc
last time, i got loan from ocxc. somemore can sign the agreement at singapore ocxc branch.

Hi Softzone,great to hear that at least got one bank have this exception!! Do you mind share your experience?May I know what is the condition to get this loan?Is it same as other bank?Or do you have the banker contacts?Pls pm me if you have,it will be much help...Right now I am quite worry coz so far I heard another banker telling me the same thing.my email:alcentlau@yahoo.com

Hi Keppelland,

I am a Malaysian working in Sg as well. I face no problems in getting home loans from Malaysian banks. The procedure is the same. You will be required to submit your payslips and bank statements just like anybody else. They will convert your salary amount accordingly and use that as your income.

It would be especially easy if the location which you are buying is in JB itself.

Hope that helps

TS, i am working in SG and bought a house in sarawak recently.

i didnt have much problem as well. i told my banker "No joint applicant, No guarantor, No less than 90% MOF, No FD,if you cant do it, there are other bankers waiting at the door"

As long as you dont have bad CCRIS record and you have all the required documents and met the requirement, you will get you loan.