question. is it possible for me to make joint loan with non-family person(e.g : friends)?
which bank allow it?
Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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 Jan 19 2016, 05:23 PM
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Jan 19 2016, 05:50 PM
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QUOTE(lifebalance @ Jan 19 2016, 05:29 PM) yes you may, it's considered 3rd party loan. can you describe a bit what is 3rd party loan? the second name will still registered on ccris? insurance is 50/50 like normal joint loan? |
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Jan 19 2016, 06:05 PM
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QUOTE(lifebalance @ Jan 19 2016, 05:57 PM) 3rd party means the person in SNP is not the same as the loan borrower. thanks for the reply.insurance can also 50/50 in joint loan. Second name will register into CCRIS. a 3rd party loan will be based on trust that neither one of the party should choose to "default" the loan otherwise either 1 of them will be in deep trouble to pay off the installment if they can't afford especially if there is no obligation like a deep relationship (family member) vs (friends). look the thing is, ive asked several banks like cimb ,maybank, hong leong, and bsn (bsn got zero moving cost) they only accept immediate family (nucleus family) as joint loaner that mean no cousin, or uncle, or friends which bank actually are we talking about here? |
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