1. Documents Required

Employed Applicants

  • Booking form of the property purchased
  • Photocopy of identity card (for Malaysians) or passport (for non-Malaysians)
  • Latest 3 months payslips
  • Latest 3 months bank account statements indicating salary credited
  • Latest tax assessment form
  • Latest MPF statement
  • Other documents as may be required by bank/finance institution

 Self-Employed Applicants

  • Booking form of the property purchased
  • Photocopy of identity card (for Malaysians) or passport (for non-Malaysians)
  • Company Registration Forms i.e Articles of Association, Certificate of Incorporation, Business Registration Ordinance or other relevant forms
  • Latest financial statements
  • Latest 3 months bank statements
  • Latest tax assessment form
  • Other documents as may be required by bank/finance institution

2. Criteria for Loan Approvals

In order to qualify for loan financing, applicants must fulfil the following criteria:

  • Have stable income with supportive documentation or fixed deposit
  • Loan tenure – maximum 20 years OR ages of 60 whichever is the earlier. For those exceeding 60 years old suggest to join name.
  • Monthly instalment of the property purchased (including current commitments e.g car loan, personal loan and others) should not exceed half of your monthly income


3. Overview of the Loan Processing Procedure

Buyer:

Submission of loan application form with required documentation

Bank:

Loan evaluation by bank/finance institution

Buyer:

Signing of the Letter of Offer (LO) as acceptance of the offer.

One copy of the signed LO will be kept by the buyer and another copy will be forward back to bank.

Bank:

Bank/Finance institution to instruct appointed solicitor for preparation of loan documentation:

 – Facility Agreement or Loan Agreement cum Assignment

Buyer:

Once loan documents is ready, purchaser will keep inform to execute at our office.

Solicitor:

Executed loan documents returned to solicitor for stamping and registration.

Stamped loan documents will then be forwarded to bank/finance institution for safe keeping.

A copy of all documentation will be given to the Purchaser and Developer

Bank:

Bank/finance institution to release payments to developer in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of developer progressive billing

 

  • You may opt for loan application with our appointed panel bankers or choose any bank/finance institution of your choice.

 

Disclaimer