Hi lyn sifus.

I am planning to buy an used unit of apartment for my own stay with family.
Already picked the unit and its 360k apartment.

question:
1. I am currently staying in a low cost apartment under my name, which my parent put my name when they cash buy it long time ago. So in this case, Am I still entitle to enjoy any benefits for as a first buyer ? for eg, Mydepo or Discount from stampduty
(i not really familiar with this)

2.I have a part time income from online business, havent register any ssm, so all the money from cash . Any way to actually make it as one of the legal source income? pay epf ? or consistency of bank deposit ??

3.I am ptptn debt holder, total owe around 9K+ and tunggakkan is 5.8k. In this case how should i solve this? full settlement ?

i have limited cash maybe around 45k and have to consider for the downpayment and legal fee . so hopefully sifu2 in lyn can help me figure out anyway to lower down the first payment when sign s&p or take house key..

thanks !

This post has been edited by kayclum: Feb 17 2017, 01:54 PM

Your answer:-

1) no, you will no longer enjoy the benefits accorded for first time house purchasers, whether you inherited or obtained by trust such properties, it does not matter.

2) the government is very simple, as long as tax is paid for the monies earned then you can use it in any manner you want but judging from your statement, i believe that you didn't declare it during your submission of your yearly tax la, right?

3) i don't even know why you ask this question, of course settling everything is the only way to solve it -.- what do you expect? PTPTN to suddenly grant you grace and waive payment of everything meh.

RM360,000.00 purchase price means you need to pay RM36,000.00 for 10% deposit, that leaves you with RM9,000.00 to spare. The stamp duty for your transfer/assignment also costs you RM6,200.00 already which then makes you have the balance of RM2,800.00.

Assuming you get a 90% loan for RM324,000.00, stamp duty for the facility agreement will costs you RM1,620.00 already, so you now have RM1,180.00.

You think RM1,180.00 enough to pay legal fees and disbursements for Sale and Purchase Agreement + Loan Documentations?

That PTPTN loan might kill your hope for getting loan... My assumption only...

thats my question , cause Im blank with the legal fees .
If i knew everything i might not need to ask sifus here.
and ptptn i heard some banker said get the restructure letter then able to get the loan approve.

btw thanks for your answer bro !

unlike PTPTN now will give you any restructuring la... further, as long as you don't settle your PTPTN loan, your bank will take this as a liability and will impede your borrowing capabilities.

anyway, my general rule is this... unless you have at least 55% of the purchase price in cash sitting somewhere in your bank account, never undertake to commit otherwise it's basically nailing yourself to the wall.

good luck!

Yeaap thanks for the advice bro.
After i got this unit i will sell out my current low cost unit and get back my cash 🤗🤗

PTPTN u can settle / restructure using KWSP