QUOTE(qilaf @ Jul 17 2016, 07:37 PM)
guys i have a shared name property with my mom. I wanna by over her share. this is second prop under my name.
will the loan i take to buy over be 70% loan ?
Dear qilaf,
1. if your personal profile doesn't have more than 2 mortgage loan, then you are still eligible for 90% loan margin of financing.
Hence, it is still 90% MOF
QUOTE(qilaf @ Jul 17 2016, 07:49 PM)
well its RM 600/month monthly ASB income.
although its shared name, I'm not paying. just my name is there. i wanna buy the whole property at RM250k
Dear,
1. Based on your income, Refinancing RM250,000 shouldn't be a problem. Hence, you can even CASH OUT extra RM250,000 if your property market value allows.
2. If you want to cash out, I need to check your property value as with below details:
a. property address
b. square feet
c. property type
d. any renovation
3. Do be aware that if you refinance with SPA name transfer, there this few cost that you need to pay:
a. Legal loan
b. legal spa
C. valuation
D. RPGT IF LESS THAN 5 years.
LEGAL LOAN
CODE
Loan amount: 250000 Sub Total
Professional Charges
Facilities Agreement 2,200.00
Charge Annexure 150
Discharge of charge
Entry and Withdrawal of Private Caveat 350
Consent to charge 300
Statutory Declaration 100
Professional Charge 3100
Disbursement
Stamp duty on the Facility Agreement (Original) 1250
Stamp duty on the Facility Agreement (Copies) 20
Stamp duty on the Charge Annexure 40
Stamp duty on the Discharge of charge
Stamp duty on Letter of Offer 20
Registration Fee on Charge 120
Registration Fee on Entry and Withdrawal of Private Caveat 450
Registration fees on Discharge of charge
Registration fees on Caveator Consent
Affirming Fee/Bankruptcy Search 100
Stamping on Statutory Declaration (Owner Occupation/not a bankrupt) 40
CTC Title 50
Application and Registration fees for Consent to Charge 100
Land Search 120
Documentation Fee 318
Transportation 300
Telephone Calls, Facsmile, Printing charges and couriers and etc 300
Miscellaneous 50
GST 6% 225
TOTAL 6603
CODE
SPA amount 250000 Sub Total
Professional Charges
Sales and purchase agreement 2,200.00
Entry and Withdrawal of Private Caveat 350
Statutory Declaration (P.U.(A) 361) 100
CKHT 2A 200
Professional Charge 2650
Disbursement
Stamp duty on the Memorandum of Transfer (subject to valuation) 4,240.00
Stamp duty on the Sale and Purchase Agreement 40
Registration Fee on Transfer 400
Affirming Fee/Bankruptcy Search 100
Registration fee on entry and withdrawal of private caveat 450
Land Search 120
Transportation 300
Telephone Calls, Facsmile, Printing charges and couriers and etc 300
Miscellaneous 50
GST 6% 198
Total 8848
RM8848 + RM6603 + Rm900(valuaton fees) = RM16,351

cHEERS