Bear in mind also that JOA so far macam not seriously legally tested yet.

It's also hard to enforce if the person decides to MIA or has no money to claim from.

Note also that if you enter as a joint borrower, you'll lose any potential "first property purchase" benefits like a high MOF for future property, and when calculating DSR they'll use the full instalment, not whatever % you're actually paying because legally you're liable for the full amount, so when bank calculate risk they'll take the full amount into account.

Ah sorry, I missed that.

If you get marked as having high liabilities/high DSR from the financing of this commercial property, banks might consider you a high risk customer anyway which may affect the MOF of future property purchase. Government schemes like Skim Rumah Pertamaku or affordable housing, and the max 90% financing of SPA price shouldn't be affected by your ownership of a commercial property.

But in reality, banks only calculate based on your debt and your loan 🤣 so if you have several hundred thousand of loan already in your CCRIS, bank will still mark you as high debt customer.

Note that you cannot get RGBT exemption as it's commercial property. The once-in-a-lifetime exemption on any chargeable gain from the disposal of a private residence, where the RPGT Act defines a private residence as defined in the gazette order to mean a house, a condominium unit, an apartment or a flat in Malaysia, and includes a serviced apartment and a small office home office. It must be owned by an individual, solely or jointly, and must be used only as a dwelling house.

This post has been edited by DragonReine: Apr 26 2021, 01:10 PM