In Malaysia, the house owners only have to come up with a minimum of 10% or even less of the purchase price and the balance can be financed by the banks. First of all, you may want to shop around to look at the different housing loan packages offered by banks. Different banks offer different mortgage packages. The borrowers have to choose the most suitable packages for themselves, according to their financial needs. Bankers would decide on the loan approvals based on 5 C’s, which stands for Characteristic, Capacity, Capital, Condition and Collateral.

Characteristic refers to the repayment record of the borrower. This is given the heaviest weightage by the banks in deciding the loan approvals. The borrower’s payment track record can easily be obtained from the Central Credit Reference Information System (CCRIS). Bank Negara Malaysia has a Kiosk Counter to allow the public to check their CCRIS. This is a free service provided by the Malaysian Central bank.

Capacity refers to the Debt Income Ration (DIR) of a borrower. The total debts and new housing loan installment divided by the total borrower’s income must not be more than 40% in ratio. Capital refers to the networth of the borrower. Condition refers to the economy and borrower’s condition. Collateral refers to the property that the borrower going to finance. The fair market value, marketability factor, and the condition of the property are always taken into consideration while considering the loan approval.

After your housing loan has been approved, the next step is to check the conditions of the letter of offer issued by the bank, which includes the interest rate, the holding period starting from first drawdown or last drawdown, installment amount, and other details. Choosing a responsible lawyer is another vital issue. An irresponsible lawyer might drag the processing of the Sale & Purchase Agreement and Loan Agreement. The Purchaser might end up having to pay the penalty to the Vendor if the housing loan has not paid before the expired date. Hence, choosing a good, reputable and responsible lawyer will expedite the whole process.

Tags : Housing Loan Packages, Malaysia, Property

Purchasing a real estate offshore is a different cup of copy than buying real estate in our own country. With the Dubai real estate market thriving, the best choice for those investors who wish to case in on the city of wonders is to find real estate agents specializing in Dubai real estate.

The climate and culture in Dubai is different from any other country on earth. The sweltering heat and long summers tend to overpower many buyers. Real estate agents understand the changes that need to take place in order to own a piece of property in Dubai and with the right amount of knowledge can help guide you through the process of finding a comfortable property with all the amenities of home. Not just any real estate agents can help to find the right property in Dubai. Only the most elite real estate agents with time spent in Dubai will understand how to look for Dubai real estate make an offer on that real estate and close that deal of dreams. Wasting time with real estate agents who want to sell Dubai real estate but have never set foot in the country is like playing with international fire.

When you are looking for an international real estate agent there are different factors to consider. You should have an understanding of the market fluctuations, complete listing of the available properties in Dubai, both completed and in the building phases and an agent that is willing to spend the time needed to find the perfect home, condo, apartment or villa for your money. There are many real estate groups that help you find the best real estate for you and help you giving tips on maintaining the real estate to get maximum profit in future.

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