Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...
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 Jan 3 2012, 05:22 PM
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#1
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830 posts Joined: Jul 2009 
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Im wondering if let say I want to buy an auction property which happens to be my 3rd property. If let say the value of the house is 200K and the auction price is 140K, which is 70% of the value, will I be able to get 140K loan for the house? Appreciate if anybody can share their experience out there. TQ.
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Jan 3 2012, 05:52 PM
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#2
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830 posts Joined: Jul 2009
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QUOTE(zuiko407 @ Jan 3 2012, 05:49 PM) Cannot Hmmm then I can only get 70% of the auction price? Added on January 3, 2012, 5:53 pm QUOTE(WannaGetBuffed @ Jan 3 2012, 05:52 PM) Loan is based on the final auction price. If you won it on 140k, they will loan you 70% of 140k. 30% will still need to fork out for downpayment. Ah.. thank you for the clarification... damm you Bank Negara!!! Now I have to sell Nasi Lemak...Not 70% of the market value. This post has been edited by jepakazoid_82: Jan 3 2012, 05:53 PM |
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