I am referring to the article at http://malaysiahousingloan.net/2010/11/05/...-loan-criteria/

Example 1 :

Mr A has 3 existing home loan with few banks.

Ms B has only 1 existing home loan with bank.

Now, Mr A would like to purchase a new house with Ms B. Sales and Purchase agreement under Mr. A and Ms B.

Scenario 1:

With an assumption, the new home loan under Mr. A name. The home loan entitlement will be up to margin 70% only. Because, this is Mr A’s 4th home loan.

Scenario 2:

With an assumption, new home loan under Ms B name only. The home loan entitlement will be up to margin 90%. Because, this is Ms B’s 2nd home loan.



I fall into Scenario 2 and were trying to apply loan from bank using my sister's name.
Just got the loan application rejected by OCBC and RHB.
Is scenario 2 no longer applicable now? Anyone under scenerio 2 manage to get your housing loan done recently and with which bank?

No issues on Scenario 2 assuming the right qualifications. However, some banks are not willing to take risks if one have a loan already so just try other banks.

Yes, was trying myself as a guarantor and my sis as main applicant, was told the income ratio can be 70(myself):30(my sis) but still get rejected reason given was

RHB: Boss said cannot now.
OCBC: Too many existing housing loan/property. I got 3 under my name & actually 2 is residential 1 is commercial title.

you can try the following
a. S&P UNDER A & B but loan can be by B alone
b. B apply loan but A act as guarantor
c. buy thru company

Actually i also interested to know for 1 more scenario, where in ur case, Mr.A and Ms.B take loan together, so what margin can get?

Should be 70%

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Added on September 15, 2011, 9:38 amIf Ms.B fulfill the 1/3 income requirement...dun see any problem with the loan
But If Ms. B didn't meet that & need Mr.A as guarantor, then the approval are subjective to individual bank(mostly will reject under current "takut tenggelam" bank policy trend)

This post has been edited by Iceman74: Sep 15 2011, 09:38 AM

at first ask them why they rejected the loan ..
It could be other thing ...

Most likely the bank thinks you have insufficient income.

This post has been edited by prody: Sep 15 2011, 10:51 AM

very likely income isnt sufficient to support all loans including the new one. (debt ratio burst)

Hey bro, use MBSB.. u pm me.. i teach u how to get 90% loan even u gt 3rd properties. =)

aiya...bfr - 1 or minus 0.5???

ya lo... MBSB interest rate is BLR-1% max I think. damn high!

ya loo..only mbsb will give us 90% loan for 3rd loan maa...any option? after lock-in-period 5 yrs..refinancing back...hehehe..

I've just met with the OCBC banker to find out the detail of rejection and the said reason is that i have 3 existing loan, my sis have 1 existing loan so with this new loan that will be 5 total loan and they can't give 90% if total loan is 4 then it is fine. Income was no problem.

The MBSM loan is this?
http://www.mbsb.com.my/retail_home_financing.html

Confirm they able to bypass BNM 3rd property rules?