Feb 25 2018, 02:17 PM
http://www.maybank2u.com.my/mbb_info/m2u/p...sonal/LOA-Loans
QUOTE
It is a short-term secured loan designed to bridge the temporary cash shortfall when you want to buy that dream home pending the sale of your existing house. It gives you time to put up your existing house for sale and to find the right buyer at the right price.
Like a mortgage, the Trade Up Mortgage is a loan that is "secured" against property. In this case, it is secured against the existing house that you want to sell.
Maybank's Trade Up Mortgage gives you the following financial assistance :-
The necessary finance to bridge the gap between the purchase price and the approved loan amount of your new dream home, and;
The necessary finance to redeem the loan amount still owing to a financial institution for your existing house.
i have an existing home loan with maybank for the house that i stay currently. i'm thinking of upgrading my home nearer to my working place. normally people will sell their existing house first before applying for a new loan right? with this maybank offer, perhaps i dont need to do that anymore.Like a mortgage, the Trade Up Mortgage is a loan that is "secured" against property. In this case, it is secured against the existing house that you want to sell.
Maybank's Trade Up Mortgage gives you the following financial assistance :-
The necessary finance to bridge the gap between the purchase price and the approved loan amount of your new dream home, and;
The necessary finance to redeem the loan amount still owing to a financial institution for your existing house.
welcome any opinion and thought.
This post has been edited by hazremi: Feb 25 2018, 02:17 PM
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