Hi all,

My relative’s loan got rejected few years ago because the developer is blacklisted by the banks… may I know any factors related to the property that might lead to the loan being rejected?

I plan to purchase a property in the next few months, and a bit daunting hearing some negative cases. Hope sifu here can share & shed some advice

I'm sorry if this was asked & answered previously

Thank you for your fast reply, appreciate it.

Are there any ways for us to know whether the developers/properties are blacklisted by banks? any websites or sources to refer to? so that we could minimize the chances of the loan being rejected.

Wow I didn’t know near to graveyard also can affect the loan application. That’s a new insights. Thanks for sharing that bit.

Now I wonder, how about “ghost house”?.. let’s say someone committed suicide in that property, and it’s in the news.. will that affect the loan application?

Another thing, is it true if the property is already more than 10 years master title, it is a bit difficult to get loan?

I’m curious about the calculation of income. Will the following items be included in the calculation of income?

1) part time work: No EPF contribution. No payslip. The only proof is the organization sends email to notify that the money has been banked in. And it is a quarterly payment.

2) annual cash dividend such as Amanah Saham

Yeah, I think that was the case with my relative. The loan got rejected because the developer was winding up but the seller hasn't applied for strata or something, hence the property is still under master title. Agent persisted to continue signing for S&P, but 3 banks rejected the loan already

Age: 42

Income:
(i) Gross Monthly Salary: RM5100 (Annual RM61,620)
(ii) Gross Annual Incentive + Bonus + Allowances (EA 2015): RM68,500
(iii) Annual Cash Dividend 2015, 2014: RM24,000

Commitment:
Shoplot Loan RM650

Queries:
a) if I’m not mistaken, bank may let us take out a loan with a monthly payment equal to 30% of gross monthly income. So, from that income figure above.. does bank take into account (i) only? or all (i), (ii) & (iii)?

b) What is the property value range that the person eligible to purchase?
Case 1: If fully settled the shoplot loan
Case 2: If don’t settle the shoplot loan

c) If willing to pay monthly instalment of RM2,500, what will be the eligible purchase value?

Property: Residential Unit
Locatioan: KL/Selangor... maybe Negri Sembilan too (still hunting)
Dividend % for 2014, 2015 roughly about 8%

yeah.. and so hard to get back the earnest deposit.
threaten to bring the case to tribunal... they said they have won so many cases like this, because there's no clause "subject to loan approval"... and they can even find banks that can approve the loan

well, well, well... my relative brought the case to tribunal, and won.

yes

Thanks for your reply, and calculation.

That ASB figure is average monthly, right? so RM1600 is basically capping of 80% from RM2000 monthly?

Thank you so much for your calculation. Appreciate it

a) Allowances: this one is too minimal.. too lazy to claim. Last year I only claimed RM220
b) No OT
c) Sales Incentives: 60,000. Bonus: RM8,300
the above figure is gross for 2015. I joined the company mid 2014, so no performance bonus in 2014 since I was still under probation.
d) No Contractual Bonus
e) initial borrowing for shoplot loan: RM80,000
f) No Personal loan. No Car Loan. My monthly spending bill for CC is normally around RM350 or lower

I noticed you put RM800 for ASB Dividend.. is that the prudence scenario for bank to recognize only 40% of the average monthly dividend?

Opss sorry to confuse you. those 24K is the annual dividend that I got, for 2014 and 2015 respectively
My cash saving in ASB is RM360K

Hi all,
What a coincidence, I've queries on bank valuation too.

Let's say the asking price for the house is 500K. The agent said it is under market value. He specifically mentioned Bank A values it at 550K whilst other banks value it up to 530K.

When I go to Bank B, they only value it at RM400K, which is RM100K below the asking price! Thus the house is overpriced.

When confronted the agent, he said that's a normal case when individual buyer personally approaches the bank (is this true?). But registered property agent has connection with banks, and their panel banks could match the price.

I'm a complete noob on buying property, therefore I don't want to blindly listen to the agent and commit my earnest deposit yet.
Since there's a big gap (at least to me 100K is a big gap) between bank valuation and asking price, Thus would appreciate it if anybody could advise me on the following:

My question:
1) Any idea what's the valuation range? Is RM100K - 150K range consider common?

In my case, the house is actually a sub-sale

I'm a bit suspicious on the agent's word... do property agents also has their own panel banks?

yeah, that's what I thought too.. why the huge gap?

In fact, when I went to Bank A I did mention all the things about the house such as built-in wardrobe, kitchen cabinet. The only thing I forgot to mention was plaster ceiling in the dining room. But does plaster ceiling worth extra 150K value?

thanks for your reply.

Anyway, I'm still waiting for the agent to furnish me the valuation from Bank A. If Bank A does value it at RM550K (150K more than Bank B), then the agent is honest.

I just need an advice

This particular bank has approved my loan application (with attractive interest rates compared to other banks). However, when I requested to have the offer letter for me to read through over the weekend, the officer didn't want to give it to me. I can only read the letter at the branch and he would explain about the loan to me, but cannot take it out from the branch. The reason: he afraid that i will bring the letter to other banks with the intention of negotiating the terms & conditions.

Isn't it my right to read the offer letter at my own comfort?

yeah, really unfair... lousy banker

i saw your signature, seems you're mortgage sales officer for few banks. Just wanna ask about Hong Leong Semi-Flexi plan... because I'm really confused with their explanation. Does any extra payment that I put on my loan account only reduce the interest, but not the principal?