I came across that some of the buyers buy two properties at the same time during purchasing of their second property in order to maximize their number of properties at 90% loan, where they submit the two properties loan application to different banks and managed to get approval for both banks although they are not fit for two properties loan. In that case they are now entitled for 3 properties with 90% loan.

What is the pro and cons ?

This post has been edited by ixus: Jun 27 2015, 08:58 PM

Bank reserves the right to withold your disbursement upon advise of loan if they check out before disburse of loan.. as this is bank negara's rule that 3rd property only entitle for 70% loan.

This is what some of my banker told me. There's some risk.

Anyone else can share on this?

This post has been edited by Tavia88: Jun 27 2015, 09:06 PM

Correct! Correct! Correct!

Bank will check again before disbursement, the may cancel or reduce the loan.

Extremist way of cheating. Dun get conned by tis way just bcos someone did it. Just obey the regulation.

Anyway, did anyone get through this and successfully disbursed the loan?

Please share!!

Fast track to suicide.

I know of such a person who did it by going through multiple agents for multiple banks. She was not my client, but a colleague from a different line. She successfully got her housing loans for both properties (2nd and 3rd) at 90%. But she was really aiming for maximizing her income to get the loans.

You can always try to skirt the law but if you get caught doing it please don't blame anyone else

This post has been edited by wild_card_my: Jun 30 2015, 06:46 PM

You're right now bank had set new rule before disburse money for the loan they will check customer ccris report once again once they found out its third prop bank reserve the right to loan 70% instead of 90%. Last time this loop hole is working but not for now

Cool trick