Hi there,

My situation is like this,
the landed house is under my father's name and it is fully paid off. I planned to demolish and rebuild on that piece of land. Of course I need to find consultant&contractor or contractor which do design&build to submit all relevant documents to authority. My doubt now is on the financing & legal side.

can i secure a loan without the need of changing the name to me? what legal matters that i need to take note? need to engage a lawyer? SPA?
thanks in advance for the advice.

Check with your bank if they accept a third party loan. If they do not accept, then you will need to get it transferred. Can be transferred based on love and affection instead of SPA. There is a 50% stamp duty remittance for transfer between parent and child. Need to provide birth cert to confirm.

Hmm, the main question of the above scenario is what type of landed house is currently occupied on above the piece of land?

If bungalow, thats a lot easier. If semi-d or terrace house, you may facing issue from local authority for the approval, I think it's MBKK ( if Sungai Siput Perak )

If bungalow, you can easily demolised the detached house without disturbing the walls of your neighbours, hence you must appoint a contractor with CIDB qualification ( ranking follow the cost of construction ) if you intend to get loan from banks. If contractors without CIDB Cert, banks would not recognized your proposal and would not borrow you the contruction loan but only term loan based on land itself. If terrace house, the demolished of the house would be disturbing the neighbours 2 side, hence you must asl the contractor to do properly and obtain the approval on demolishment plus rebuild, or else, you have to pay penalty if incurred.

Another thing is, if above settled, you can have 2 options for the house ownership, which is, maintain your father's name in the S&P or house, but get a new borrowing under 3rd party loan, which is your name plus yopur father's name.

Or else, your father can do a MOT transfer to you, via Love of Affection, either give you 100% shares or just gave you 50% shares, up to your family to decide. Of course, this path would incurred some cost due to chnage or add name of ownership. However, this step is easier compare to above earlier mentioned.