No problem, glad that it helps!

This post has been edited by Madgeniusfigo: Dec 26 2015, 06:32 PM

Dear B u B u,

Opps sorry, forgotten to include B gross income. Still on holiday mood

1. Include Bonus, Commission and both gross salary, max Loan is RM 719,000 for Hong leong bank. Rm635,000 for RHB,CIMB and OCBC.
the rest can refer to the right bottom column.

2. Best is target loan Rm635,00, as more banks able to finance your property. It is a safer bet. 90% shouldn't be a problem if your CCRIS and CTOS doesn't have any surprises. I can't promise you the sky or 100% acceptance till I look at your document and checked your CCRIS and CTOS.
But,
I can assure that your loan eligible will be around what I have calculated.

Dear eophelia,


1. I currently have 2 loans -

loan 1 - residential house

loan 2 - shoplot

You are still entitle for 90% margin of finance.

2.

loan 1 - shoplot

loan 2 - shoplot

Your first and 2nd residential property will still entitle for 90% margin of finance

3.

loan 1 - residential

loan 2 - residential

Your 3rd residential property entitle 70% margin of finance only.

Dear,

85%

Dear eophelia,

Usually service apartment, Soho, Sovo and Sofo is commercial title hence 85% loan margin of finance.
If the property has "Housing Development Act" hence it will be considered as residential property and entitle for 90% margin of finance.

Dear Pleaseenteryourname, lol

To be more accurate with the loan analysis calculation. I would like to know a much more accurate details of your debt commitment.

a) (car)Hire purchase credit limit (Initial amount borrowed from bank).
For
-Rm550 and
-RM450
b) ASB Loan (Credit limit, total amount finance to you)
c) PTPTN total amount financed
d) credit card limit for Rm7000 and Rm11000

1. Usually bank would take the credit limit of your loan facility to calculate your monthly debt. Bank have their own calculation in terms of the debt installment calculation

2. I need to know your credit card credit limit, so that I would know if your cc over utilized or under utilized, this make a huge different in loan approval.

3. PTPTN usually wouldn't shown in the ccris unless you have high arrears around 36-48months, then it will appear as debt.

4. Do you have any supporting income?


5. Any other additional debt?

Dear,

1. When you do a balance transfer, the amount will be shown as your debt, bank will take that into calculation.

2. If you have any IPP payment 12months installment those kind, for astro, TV purchase... etc It will include as debt calculation too.

3. However, if you didn't default in your debt payment, it wouldn't ring much problem to your approval. But, if your credit utilization to your credit limit is too high, your credit scoring will be low and bank will usually reluctant to approve your loan. it's subjective until I look at your CCRIS, sometimes it affects, sometimes it doesn't. Credit scoring on ccris depends on number of loan facility you have, credit card credit limit, type of loan facility, payment record for your debt commitment.

Dear,

1. Based on both of your Gross income is Rm8000, commitment 670 600 and credit card usage Rm1000, rm500. Your max loan eligibility is RM1,800,000.

2. I didn't ask for your actual credit limit on your debt, as both of your income is quite strong. The estimation won't be too far fetch from reality. However, I don't promised you anything upfront here.

3. Purchasing Rm767k PROPERTY shouldn't be a problem if both of you joint name. Each of you doesn't have 2 or more mortgage, 90% margin of finance shouldn't be a problem.

4. Credit scoring should be fine, as both of you have debt and commitments. However, I would need to look at your CCRIS, CTOS and actual documents before I can deduced whether your loan approval is good to go.





5. If applied with only 1 borrower.

- There's still 2 banks capable of financing you the property.

Dear B u B u,

1. Your max loan eligibility would be RM500,000. Look at the bottom right section for each bank loan max eligibility.

Dear TuX,

1. For your case, you are PR with Australia, but still a Malaysia citizen, there's bank that can finance to 90% and 70 years, chances is still there. Problem is, as stated you have no commitments or debt in Malaysia, hence your CCRIS is clean. You have EPF, but usually EPF wouldn't be used as a collateral nor improve your credit scoring. Assuming your wife also have no debts and commitments in Malaysia.

Usually bank would treat applicant without debt and commitment as a much riskier borrower moreover staying and working at oversea, you can default your debt anytime.

What I would suggest is:

1. You still can apply as a sole borrower, if you have high saving income at your australian bank, disclosed it to the bank as a booster to your credit scoring, moreover show your debt obligation of your property at Australia.

2. Joint name with any of your family members in Malaysia, that has debt and commitment, higher chances. Applied together. After getting your first loan debt in Malaysia, your 2nd purchasing would be smoother.

I don't promised you in having your loan approved, but you can try this 2 methods for now.

Dear,

1. With both of your income, max loan eligibility is RM840,000 for HLB and RM766,000 for RHB. The rest do look at table section bottom right.

2. Purchasing RM767,000 property with 90% margin of finance wouldn't be a problem. But, I would need to look at your CCRIS and CTos and your loan document first.

3. However, applicant 2 credit scoring prove to have some problem, her credit card creit limit Rm11,000 and utilization 100% Rm11,000. Usually this will pull down your credit scoring down as. Bank will look at you as high risk because you need money badly and there's chances you are in financial trouble.

My advise is:
a)reduce credit card credit limit rm11,000 outstanding Rm7700 (pay Rm3300) And apply loan on january 16th.

b) Pay off the Rm11k debt and caclcel the card facility, then you can apply right away.

Anyway, above is preliminary advice, I still need to look at your document ccris and ctos to give you a more comprehensive advise and solutions

Dear,

1. calculation based on Rm4500 income and Rm3500 income.

2. Most of the bank will be able to finance your property. But remember not to spam all the banks all at once, scrutinize your profile before chosing the best bank with highest approval chances. Your credit scoring isn't that strong, moreover if you get rejected by 1-2 banks, all hopes is lost. Bank will reduce your credit scoring if there sees {r} in your ccris.

Dear Tux,

1. Best is to provide past record commitment Letter offer to the bank, it doesn't help much but might increase slight towards credit scoring, showing them at least you have debt applied successfully in Malaysia.

2. Best is to show them your saving account amount, it will definitely help. I don't know how much $$ you have, but declaring around 50k-100k will be solid. But no promise in the approval.

Dear sherindankamal,




1. Mortgage protection there's 2 types in the market offered by the bank, MRTA and MLTA. You can read below the difference between the both.






2. Fire protection is fire protection, different from MRTA or MLTA. Fire insurance is a must pay protection. As Fire outbreak is the most common risk for house owner.

Dear chengcheng,

1. Bank will only calculate your credit card debt based on 5% on your outstanding debt. If your outstanding balance for your credit card is zero, there's no debt for it. If you pay full amount aka all the outstanding debt on time, you are with zero credit card outstanding debt.

Dear,
No sweat, glad that it helps.

Dear,

MRTA = Mortgage reducing term assurance
MRTT = Mortgage reducing term takaful (islamic)

same thing, but difference is MRTT is syariah compliance

Dear,

1. Islamic loan has 2 simple package offered to the public, BBA and MM(musyarakah mustanaqisah)

2. For BBA there's a max cap amount that you pay.
example
RM200K LOAN/ 5.5%/ 30YEARS =Installment RM1135.58

Total price to be paid is = RM1135.58 X 30 =RM408,808

-This price stated in the contract will be the absolute price, the fixed profit has added into the total payable amount. For loan settlement, for usual loan, you will just need to pay off the outstanding balance stated in the bank, but for BBA product, the total final price has been stated in the contract, hence when fully settle, BBA will gives away rebate on the selling price which is equivalent to profit not realized. There isn't any clear formula for the rebate though...

3. Musyarakah mustanaqisah
-tries to be the complete and newer version of islamic loan
- it is similar to conventional loan in terms of interest calculation, interest rate, early repayment and capital repayment. The difference is this loan is a Profit loss joint venture for you and the bank. Starting 10% (DP) will own by you and 90%(bank purchase) own by the bank. Throughout the loan tenure of paying installment, bank will act as leasing you the property, you will slowly pay the installment(rent) to the bank and slowly owning more %shares of the property.

4. Islamic loan has the benefits of no lock in period, but the documentation for islamaic will have extra 3-4 more. Hence the stamp duty will increase by 20%, around RM600-RM1200

5. To evaluate your profile, would you please provide following details for an accurate analysis?

Dear sophisticatedren,

1. You bought the house? means you signed the SPA or Booking form only?

2. Conventional loan, there's this 2 package:

3. Best rate for this month would be PBB, AMbank and RHB. This bank offers quite delicious rate.

4. Hidden cost? lets see, above 3 banks doesn't have processing fees charges. There's lock in period of 3 years with 2-3% penalty charges for conventional loan, Fire insurance will be inclusive in your payment, compulsory.

5. Have you analyse your loan capability profile and suitable for which bank yet? If not, do list down below details, I can help you analyse thoroughly your profile to loan eligibility for 7 banks.

Dear kerrigan_id

1. You will only need to pay valuation fees for subsales aka second hand property. You need to get the exact market valuation or more for the intended selling price of the property.

2. Usually you will be the one who bear the cost. However, some bank allowed you to finance the cost into your loan amount. Meaning to say, you doesn't need to pay all in one lump sum, paying it by mothly in stretch of your loan tenure. It would cost more due to compounding effect. It depends whether you want to service the cost upfront or by installment.