I want to buy my dad house.
He's moving to Perak and don't want to stay in Shah Alam.
His house habis bayar already.
So he want me to refinance.

House prices is RM900k.
My question is, can I refinance only rm100k?
Sorry. I don't know much about bank etc.
Thanks

You don't refinance when the entire house is already paid for.

You want to buy your dad's home.
Just agree a price with your dad and take a loan for the amount la.

Hopefully your dad sells to you below market price otherwise kesian.

Can walk into public bank with your father. Bring all the docs. Demand refinancing

which one offer better interest rate, help me sifu

kalau refinance konsep sama mcm housing loan on the insurance part ker?

let say i ask my dad refinance his house, he take money then i pay monthly installment on behalf.

then my dad passed away, does it cover with insurance?

This post has been edited by aPiT_OxyMoxy: Jan 26 2023, 09:09 AM

Sohai go bank ask lah

Refinance 900k, immediately pay back 800k to deduct principal, so you left with 100k loan balance.

* some banks have limit for overpayment, like 70%, so better check with bank.

This post has been edited by poweredbydiscuz: Jan 26 2023, 09:09 AM

That's not refinancing already.

It's father being seller.
Son being the buyer.
Son needs to apply a loan to buy over the house and get the deed.

I reckon op is doing it to get that extra 100k from the refinance. The issue is him coming here asking over a loan that's 900k makes me abit iffy

House pay off d no need refinance. You want him sell to you is it?

Ask your lawyer/ bank for cheapest way to do so.

sabar bang, pagi2 nak emo ni kenapa, kasi la member to chance

cannot, later kena inheritance tax 50%

And also lock period. I rmbr some banks/loan packages don't allow you finish the loan within a lock period.

Stop using the word refinance, it usually means you have an existing home loan that you want to alter the structure. There is no homeloan here.

You want to buy your dad's house.
Decide on the price. Let's say 100k.
Go to any bank and say you want to take a home loan for 100k and ask for interest rates.

After that is he going to transfer ownership to you?
If yes, you need an S&P with a lawyer to account for the home loan.

As of now theres no tax on inheritance but the government has been mulling this for a while.

My advise to you both is not so do this as the house is under him and you pay the loan. I have seen family issues fathers give the house to other wife or siblings or whatever. Don't do this.

Till date there's no inheritance tax. Correct me if I'm wrong guys

Weird question. Full paid house still need to pay the bank? It's between your father & you. Your father should hold the grant just need to change name.

Good advice. Taking a loan without ownership of the property is rather sticky.


My understanding too.

Means my dad want to sell to me for rm100k.
So I just walk to any bank and ask for rm100k housing loan?

You need a lawyer.

Got house in Perak worth 900k meh?

Sounds fishy

I have a fully paid house too. When I said to the banker I want to refinance, she said, not refinance ni remortgage...

for your case TS it` s easy....


1. Go change your father`s house to your name at Pejabat Tanah

2. After the house is under your name, go to bank to remortage. Ask for RM110k. 10k was for my service to you now

3. Give your father the RM100k

This post has been edited by omaigad: Jan 26 2023, 09:33 AM