Implementation Of A Maximum LTV of 70%, for 3rd properties and beyond only...
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 Nov 4 2010, 10:11 AM
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#1
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Senior Member
1,548 posts Joined: Apr 2005  
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Good move at the right time by BNM. Some sort of signal was needed to stop property sector from overheating.
I would think that most regular people will in their whole life only buy 1 or 2 properties, so they won't be affected. |
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Nov 8 2010, 04:39 PM
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#2
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1,548 posts Joined: Apr 2005
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QUOTE(tinkerbel @ Nov 8 2010, 04:20 PM) @cherroy, This is still not clear (unless you bought those 3 properties without getting a loan).Lol.. looks like U been doing all the reading. So, assuming I've a total of 3 properties but 0 loans, it means this new ruling shouldn't affect me? And it will only affect me after my 3rd loan with the bank?  Statement says: "Bank Negara Malaysia wishes to announce with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70%, which will be applicable to the third house financing facility taken out by a borrower." This could mean that if you previously have taken two loans, but already fully paid them off and apply for another loan, that you will only get 70%. |
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Nov 8 2010, 04:55 PM
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#3
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QUOTE(epalbee3 @ Nov 8 2010, 04:52 PM) third house financing facility Did I sound happy? How to read this? may be "financing facility of the third house".. don't be too happy now.   Added on November 8, 2010, 4:56 pm QUOTE(cherroy @ Nov 8 2010, 04:52 PM) I don't think they will so strict on this. I also don't think it, but I also don't know since the statement doesn't address it.They welcomed any buyer that able to pay off the properties. If you pay off the loan, mean in the banking system, your name "under loan" is not there anymore. It is troublesome for banks to check this properties is the No. how many you have as banks do not have data on those paid off one or those you bought with cash one. Anyway, this is more a temporary measure, so whether affect the paid off or not, doesn't cause major concern. As most housing loan is long tenure one, so the new measure has little impact on those issue. This post has been edited by prody: Nov 8 2010, 04:56 PM |
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