Malaysia Real Estate

mark0411 · Joined: 10 May 2008 Posts: 11

Hi Guys,

I'm earning around 6500 and my gf earns around 3000. I would like to know what is the maximum amount of loan that we can actually opt for?

My monthly bills consists of :
a) Car - 417 (under my mother's name)
b) Study Loan - 150
c) Credit Card - 200

My GF bills consists of
a) Car - 250 (under her father name)
b) Study Loan -150

I would like to how much loan can we actually take and can we actually take 300k worth of loan?

Another question, can we actually withdraw money from EPF account 2 when we purchase the property even when we're not married? I planned to register the property name under our name. Is that possible?

I'm new here and this is the first property that i want to buy, just need a direction. I'm 26 and my gf is 25 if that helps.

Regards

MLD · Joined: 10 Jul 2007 Posts: 58

Dear mark0411,

Taking into consideration you and your gf's commitments, the estimated loan limit for you two can be up to 400k or so. So I'd say 300k should be good.

Yes, you may both withdraw from your accounts separately subjected to the difference between the price of the house and the loan amount plus another 10% of the house value.

If possible I'd like to show you why AIA's Fixed Rate Home Loan is one of the best offers currently in the market which can benefit you when it comes to planning for a secure financial future with peace of mind.

Feel free to email me should you require further help.

Thanks. Best Regards.
_________________
To know more about AIA's Home Loan packages, Call 012-3272615 or email tzeyean.aia@gmail.com for more details.

mark0411 · Joined: 10 May 2008 Posts: 11

Hi MLD,

May i know the difference between purchasing property that is under construction against purchasing property that is already completed?

I'm looking at property price in the range of 220k-300k, other than the obvious downpayment that i will have to fork out, what are the other administrative/legal fees that i will have to pay for?

I'll drop you an email in about 2 weeks time.

Regards

jwgan822003 · Joined: 28 Oct 2006 Posts: 43 Location: Kuala Lumpur

ys126 · Joined: 23 May 2007 Posts: 225

hi mark0411, i am Edward Tan from UOB. Just to let you know if you are the 1st time house buyer, you might get 50% discount on the stamp duty.
I think the legal fees you might know from jwgan822003 replied as above.
Actually the legal fees diffences is not exactly between completed and under construction property. Is like whether you purchase from developer or you buy from subsales. If subsales, then you need to pay the S&P lo.
If you plan to take housing loan just feel free to drop me an email at tan.yewsiong@uob.com.my or just call me out, so i can explain to you in more details. My hp numbr is 012-9359477.
_________________
Have a nice day!!!!!
hp: 012-9359477
email: tan.yewsiong@uob.com.my

parven · Joined: 02 Apr 2008 Posts: 89

Hi guys,

Anyone here looking for home loan that gives full flexibility?

Refinance or apply for a new home loan.We offer great mortgage rates on refinance loans, home loans for completed or under construction -only mortgages for your home.

For further information please feel free to drop me a mail at veen_0809@yahoo.com. Would like to assist to guys on home loans.

Regards
Parven
Alliance Mortgage Consultant

mark0411 · Joined: 10 May 2008 Posts: 11

Alright guys,

The house that i want to buy is in Saujana Utama 3 developed by Glomac, however it is still under construction with projected date of completion is August 2009. The house price is 250000. (i'll tell you the exact price once i managed to go to their showhouse this weekend)

The question is what is the procedure and the cost of buying the house stated above?

I'm really looking into this to be finalized before end of May or the latest would be end of June.

Having said that, i'm more inclined towards those fixed rate loan like AIA or ING has to offer.

Regards

parven · Joined: 02 Apr 2008 Posts: 89

Hi guys,

Anyone here looking for home loan that gives full flexibility?

Refinance or apply for a new home loan.We offer great mortgage rates on refinance loans, home loans for completed or under construction -only mortgages for your home.

For further information please feel free to drop me a mail at veen_0809@yahoo.com. Would like to assist to guys on home loans.

Regards
Parven
Alliance Mortgage Consultant

johnshir1 · Joined: 15 Jan 2008 Posts: 11 Location: K.L.

I need the best advise urgently. My situation (in chronology order) goes like this:-

* Development and construction started last year
* all purchasers have paid 10% upon signing s&p
* I bought one of the last 3 or 4 properties left in mar 08
* in between, developer issued invoice calling for second 10% (to all buyers except me)
* i paid first 10% upon signing s&p and s&p was duly signed/stamped by early may 08
* in between, developer issuing invoice calling for next 15% (to all buyers except me)
* signed off home loan in mid may 08 for a 90% financing
* developer called to enquire about my loan and said they will still issue that 2 invoices to reflect construction works that have completed in which they said that other buyers have been invoiced

what's my remedy now? my banker said to negotiate with developer as i bought the property mid way through their construction which have started earlier. there's no way i could finalise the loan documentation and get the bank to release the 10% and 15% respectively within next 1 month.

could anyone tell me what's my recourse? what should i refer the developer to? they knew i have just bought the property and getting a 90% home loan and still say they will invoice me. for sure i'll be charged for the late payment then.

ys126 · Joined: 23 May 2007 Posts: 225

do you get the loan already? if yes, then the only thing you can do is to chase the lawyer to do things fast, then write in to the developer and ask them to waive the penalty charges.
_________________
Have a nice day!!!!!
hp: 012-9359477
email: tan.yewsiong@uob.com.my

johnshir1 · Joined: 15 Jan 2008 Posts: 11 Location: K.L.

yes, i have gotten the loan already and letter of offer from bank was signed off too. i have already written to the developer to hold on to their horses in not sending the invoices to me or my bank.

i have mentioned that i'm the last buyer in their project in which i dont have the time to play with unlike those who bought right at the beginning and i have to be the exception.

so, it all depends on the developer and how they view my letter. if they insist on sending the invoices, like what u have mentioned, will have to appeal to them to waive the interests.

no other avenues for me?

Leng · Joined: 03 Apr 2008 Posts: 12

I oso have the same concern with u but I've tok to the developer and they willing to give me two months grace period before they issue invoice to me.

Try to tok to ur developer Wink

ys126 · Joined: 23 May 2007 Posts: 225

ya..the only thing you can do is talk to the developer..no other choice.
_________________
Have a nice day!!!!!
hp: 012-9359477
email: tan.yewsiong@uob.com.my

hafizul · Joined: 01 Apr 2008 Posts: 11 Location: Malaysia

Normally developer can kawtim one.. they can waive the late payment charges as long as you provide the proof that you are able to pay like the approved loan letter.. and yeah another way is to chase the loan lawyer to speed up the process..
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johnshir1 · Joined: 15 Jan 2008 Posts: 11 Location: K.L.

thks for the advise..... will try my very best

NewKENZO · Joined: 01 Jun 2006 Posts: 168 Location: Subang

if your income is basic plus allowance pay RM 6500 and ur gf income is RM 3000, so ur total income is RM 9,500 and if your income can tally with bank statements or EPF statement, your new housing loan instalment cannot more than 40% or RM 3,800

A 30 years loan tenure instalment for loan RM 100k is around less than RM 580, hence with such good income, i believe you can get loan about
RM 650k loan

Provided all the RM 9500 salary can tally with bank statements, it shouldnt be problem but however, the problem is what is the RM 9,500, if fully commission or half of your salary is allowances, then its different story

However, since the property you purchase is RM 250k, provided both of you CTOS and CCRIS ( blacklisted and repayment record) are clear, i guarantee you can get the loan very easily. Maybe within 1 or 2 days approval.
_________________
Kenzo
Mortgage Consultant

johnshir1 · Joined: 15 Jan 2008 Posts: 11 Location: K.L.

just an update on my home loan situation and thks for the forumers' advises. my home loan was settled within 3 months (which was the grace period offered by the developer after appeals).

the developer was surprised with my mot being settled at the same time. it was down to constant follow-up with the developer, developer's lawyer, bank and bank's lawyer. my phone bill will definitely shoot up for the month of aug 08. same goes for all the postages (AR registered) in getting the 4 parties to be on their toes.

towards last few days to the end of the grace period, it was constant phone calls to all 4 parties. following every single letter from one to another and calling up the following party to expect such letter. they even recognise the voice few days later. follow up calls were made in the morning and in the late afternoon and the day after and after and after

in the end, all loan agreements and loan release were settled on final day to the extent we gotten the developer to fax the acknowledgement that they have received the cheque. just more hard work and inconveniences but in the end i knew i don't need to pay any penalty

trojan · Joined: 17 Mar 2006 Posts: 133

From johnshir1 experience, it's really ridiculous that the lawyer charging us professional fees, but at the end the buyer are the one that needs to chase this and that...
BTW, they do charge hundreds of RM for making phone calls!!