Saturday, 19/1/2019 | 9:42 UTC+8
  • House
    How difficult is the property purchase process in Malaysia?

    Foreigners can purchase any kind of property with a minimum value of MYR 1 million (US$270,270) as of 2014. They are allowed to purchase up to two residential properties – two condominiums (max. 50% foreign ownership within a block) OR one condominium and one of the following: Terrace or linked houses above two storeys, but

    Read more
  • House
    10 things to look out for when buying property in Malaysia

    KUALA LUMPUR — Everyone keeps saying the time to buy is now but with so many options and different factors in play, how do you make sure that you get the most bang for your buck when shopping for a piece of property? 10. Landscaping We are not just talking about the landscaping of the

    Read more
  • Property
    Mortgage Reducing Term Assurance (MRTA) – Why would you need it?

    If you’re taking a home loan to buy a property, chances are: you’ll be required to pay for Mortgage Reducing Term Assurance (MRTA), by the bank as part of your loan arrangement. What is MRTA? It is an insurance policy that provides financial protection for property loan borrowers and their families. Specifically, it helps settle outstanding

    Read more
  • guarantor_650
    What is Guarantor?

    Guarantors are legally bound to pay back the loan if the borrower cannot pay Introduction Financial institutions may require guarantees to enhance the credit standing of prospective borrowers, thus enabling them to obtain financing. Many people think that a guarantor gives a reference of the good character of the borrower. They do not realize that

    Read more
  • mortgage_loan_agreement
    Unfair housing loan agreement

    MOST if not all house buyers will require financing to buy their dream homes. While there appears to be stiff competition among banks for market share and interest rates may be kept low, house buyers are ultimately at the mercy of banks when it comes to the detailed terms and conditions of the housing loan.

    Read more
  • Islamic Bank
    What is the pros and cons of Islamic property financing?

    Islamic banking and financing, particularly Islamic property financing, in Malaysia is considered one of the most renowned and established in the world. Islamic banking which follows Shariah laws has been in operation since the enactment of the Islamic Banking Act in 1983 and the establishment of Bank Islam Malaysia Berhad on the same year. The

    Read more
  • Hse
    What is the standard procedure of buying a subsale property?

    1. Upon agreeing to buy a property, an earnest deposit (sometimes referred to as booking fee) amounting to 2% – 3% of the agreed selling price is collected in the name of the stakeholder (usually the real estate agent). 2. Earnest deposit is collected and the Letter of Offer is completed and signed by purchaser.

    Read more
  • Loan
    Household debt and what it means

    The difference between ‘healthy’ and ‘unhealthy’ loans Household debt is basically all forms of loans with interest rates taken from entities that provide financing. The loans can be secured with assets such as real estate loans (housing and commercial properties), or without any collateral such as personal and credit card loans. Residential and commercial property

    Read more
  • 10 steps to buying your dream house in Malaysia

    1. Understand and draft your budget With the skyrocketing property prices in Malaysia, one must be really clear about managing budgets and debts. To own a real estate, first thing to take note is your budget. If you are a first time buyer, understandably banks will approve you a loan of 90% for as long

    Read more
  • Are you financially ready to buy a house in Malaysia?

    1) Do you have enough for the upfront costs? In Malaysia, most banks offer up to 90% of the property’s price (margin of financing) for your first two residential properties. If you receive that 90%, you need 10% cash to pay for the rest of the property’s price. Say you’re targeting to buy a condo

    Read more