QUOTE(Bjorn1688 @ May 16 2019, 11:52 AM)
Most of us aren't lucky enough to buy a property with cash and usually it isn't such a good idea either less the taxman visits.
When buying a property, do you apply for 1 bank or all the panel banks of the developer?
What if your favourite bank isn't on the panel?
Is it normally the case that when you use a mortgage from a bank not on the developer panel that the fees the developer offered to absorb would not be absorbed?
QUOTE(robeng @ May 16 2019, 12:29 PM)
some bankers told me best to keep it max 3 or 4 banks. trust me, don't listen to them. apply as many as you can. I applied around 6-7 banks. all local banks rejected my application. only 1 bank approved and it's hsbc.
Profile A:
If you got fixed income, working with a well known establish company. CCRIS & CTOS no problem. DSR well below the limit.
Any bank will approve your housing loan.
Profile B:
Problem arise when people trying to push the threshold limit.
Or self employ or commission base unfix income, or entrepreneur.
Max DSR want to push until 80% or above.
Using other additional income such as Tenancy Agreement, FD, Commission from side job, etc
All above required better apply to few different bank as each bank got its own criteria.
Such as for commission calculation some bank will take average out of latest 6 months, some maybe need last 12 months statement.
Such as for Tenancy Agreement. Some bank no stamping also accept. Some bank only calculate 50% of the rental income.
Then yes, for Profile B, you really need to scout few banks to see which judge you as the least risky personal.
By the way, here the guide to prepare your profile, a huge assist to the banker if you provide complete information: