Hey guys,

I am trying to get a 2.6M home loan (1st property).

My income is deemed to be sufficient, but my application was rejected due to my age (26) and also lack of credit history (only PTPTN which i am still paying monthly).

So i am trying to get my sister to be a joint borrower [however, she already has 2 housing loans so i am planning to settle one of her housing loan (RM 130K outstanding amount) so that we can still get 90% of financing].

Can you guys advise which of the below is better?

1) Refinance (change to only my name) so that her name is freed from the said loan

2) Fully settle the loan > Remortgage

The reason i include 2) is because i may need back the RM 130k for cash flow.

What's the typical interest rate for remortgaging as compared to say, refinancing?

Also, will owning an unencumbered property worth RM 800k~1M still help nowadays when applying for home loan? My banker said no so i didn't explore more on this but i think it should make a difference, no?

Thanks.

This post has been edited by Saladz: Jul 23 2017, 06:31 AM

My mortgage agent just went MIA on me, anyone interested to take up my case please PM me.

Details:

House Price: RM 2.688M
Banks: MBB, PBB, UOB & HLB Only

Thank you.

This post has been edited by Saladz: Oct 9 2017, 07:03 PM

hmm dont know leh, no pick up call or anything