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Bank financing to buy land in Malaysia

 
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jeffreytayeh1



Joined: 10 Nov 2006
Posts: 1

PostPosted: Fri Nov 10, 2006 3:42 am    Post subject: Bank financing to buy land in Malaysia Reply with quote

Hi ! Anyone here can enlighten me ? I am a Malaysian from Pontian Johor currently residing in Singapore.

I am keen to purchase a piece of development land ( 2.5 acres ) from a potential seller at about RM220K. How can I find out how much a Bank can finance my purchase ? How to value the land price & how much % financing does a bank provide ?
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cynthusc



Joined: 16 Sep 2005
Posts: 504

PostPosted: Tue Nov 14, 2006 5:32 pm    Post subject: Re: Bank financing to buy land in Malaysia Reply with quote

jeffreytayeh1 wrote:
Hi ! Anyone here can enlighten me ? I am a Malaysian from Pontian Johor currently residing in Singapore.

I am keen to purchase a piece of development land ( 2.5 acres ) from a potential seller at about RM220K. How can I find out how much a Bank can finance my purchase ? How to value the land price & how much % financing does a bank provide ?


Hey Jeffrey,

A quick way to find out would be to apply for the loan. Just give them a copy of the title and submit your application, then the bank will tell you how much loan they can give. Usually for vacant land, the loan would be lesser unless if it is in a much sought after area. Another would be to go to a valuer, tell him it is to get a loan and you can gauge how much loan you will get. But you will have to pay the valuer's fees.
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NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Fri Nov 17, 2006 2:03 pm    Post subject: Reply with quote

Normally, they will offer you 20 years maximum tenure and 80% of Current Market Value.

You can give a piece of title to any bank officer and they will check the market value for you, try to convince them whether can take the exact value same as Purchasing Price. Is it a vacant land or agriculture land?
If ur land size is fit square and not long triangle, then the value is higher.

Good Luck.
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Kenzo
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treeman



Joined: 13 Nov 2006
Posts: 3

PostPosted: Sat Nov 18, 2006 11:42 pm    Post subject: Agriculture Land Reply with quote

Hi Chew,

I am interested to buy an agriculture land in johor as well.

However, so far i had asked some banks such as bank pertanian or public bank, they usually offer 50% to 60% based on the selling price or valuation price whichever is lower. Bank Pertanian offers 80 to 90% but tenure is maximum 10 years.

Is UOB offers the package like what u mentioned which is 80% and tenure 20years. can it be 30years? What's the interest rate for this package?

thank a lot.
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NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Mon Nov 20, 2006 11:12 am    Post subject: Reply with quote

sorry treeman ...

UOB dont do agriculture land. I dont know if Johor mortgage team will do it. But i confirm Klang Valley cant do.

for agriculture land, mostly Bank Islam, Bank Muamalat, Bank Pertanian will do for higher margin.
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Kenzo
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treeman



Joined: 13 Nov 2006
Posts: 3

PostPosted: Mon Nov 20, 2006 9:40 pm    Post subject: Thanks! Reply with quote

Thanks Chris, I will check them out.
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