Hi,

I want to buy two properties A and B. My earlier plan is to buy property A. (Rm320,000) this is my first house loan. Property A is gonna completed on Jan 19. My loan has been approved. 80%. Just pending to sign the LO.

Now I placed book on property B. The loan is also approved by another bank. 90%. (Rm420,000). Property B schedule to complete in 2021. Also pending signing the LO.

Question. By right if I sign the first LO. My second loan for property B won't get approval right?so  The developer recommend me to sign both of the LO at the same time so that BNM will have green light so i can buy both at the same time. Is it true?

Just afraid that if I sign both LO, BNM will trace in the system and property A loan will be canceled. My priority now is in property A.

Should I sign the LO for property A first and ditch the loan for property B? Or I can sign both LO without worry?
Appreciate your kind reply 🙏🏽🙏🏽

Just curious on how you manage to get 2 loans of very differing amounts (320k and 420k) approved by 2 banks at one go?
Unless your salary is high enough for both the properties. As far as I know for multiple loans your loan amount should not be too different to minimize the risk of loan cancellation.

But the banker for property A cannot kawtim. He said he won't accept the trick. Don't want to argue with him also. I'd go with property A. Have to ditch property B. But dunno if can get back the deposit for booking..

But the banker for property A cannot kawtim. He said he won't accept the trick. Don't want to argue with him also. I'd go with property A. Have to ditch property B. But dunno if can get back the deposit for booking..

iirc if it becomes NPL the mortgage officer will be questioned.