My mom has a vacant house that she has offered me to stay in, but the house is old thus needs renovation of around RM300k. The problem is she does not want to transfer the title to me (nor do I want to argue with her about it, but she assured me the house will go to me when she passes) so my question is, can I take up a housing loan under my name to finance the renovation cost (interest for personal loan is higher hence just trying my luck here), but my mother remains the owner of the house? The house is free of encumbrances btw.

This post has been edited by vi7v: Jul 3 2019, 10:29 AM

Your mum has to be the one to initiate the refinancing with you being the guarantor. Think about it , how would the bank give you the loan when the house does not belong to you.

for your case status, if you apply the loan, firstly the property must transfer the ownership to your name, maybe can transfer at least 50% share or 100% share. Bank will not giving pure 3rd party loan because you do have the ownership of the property and you need to pay the installment.

Can i know where is the property location? Maybe i can do a proposal for your loan so that you can discuss with your mother.

Thank you for your replies, appreciate it

most welcome.