Hi all,
My wife and I have been shopping around for our first property for our own stay and there's a freehold development that we're really interested in. BUT there are only Bumi lots remaining.
The issue is this - my wife is Bumi but I'm not. In this case;
1) Would it be possible for my wife to buy the property first under my name, then upon VP we change it to joint ownership?
2) Would we even be able to secure a joint loan in the case of the above (since I don't think the bank would approve the loan under solely her name)?
3) If the property and loan are secured under one name, how would this affect the MRTA?
This is a bit complicated due to the whole Bumi/non-Bumi issue - hope we can get some advice on this as it'll be our first purchase.
Thanks.
<WTA> Purchasing freehold Bumi lot, Bumi + non-Bumi joint ownership