Re: Most competitive mortgage provider/bank
13 banks starting next year the column processes timetable ‧ mortgage approved not approved within 16 days of notice
(Selangor ‧ Petaling Jaya, 27) The good news for homebuyers!
Its 13 member banks of the Association of Banks in Malaysia (ABM) from January 1 next year, the standardization of the principal terms of RM500, 000 or housing loan contract file, in addition to let homebuyers more clearly the entire process, qualify by the latest know in 16 days, the bank whether or not to approve the loan application.
Line with the new measures to be implemented from next year, the special list a timetable, the time of the entire application for the loan process, including about two working days after the bank received the complete file of applicants notice to the other party in writing or orally, its application is being processed.
Applies to 500,000 or below mortgage
Individual commercial banks apply for a loan processes required for varying lengths of time, as the case with the the unified principal terms of the documents released, allows homebuyers more manageable mortgage application, but also understand their responsibilities and rights.
In any case, the measure applies only to individuals to purchase residential mortgage payment does not exceed RM500, 000, which also can not be combined with other loans to facilitate. However, mortgage payments can cover the renovation costs of the housing, mortgage insurance (MRTA), and attorney's fees.
The participation of commercial banks including Maybank, Public Bank, Hong Leong Bank, CIMB Bank, Industrial Bank and HSBC Bank.
Association of Banks in Malaysia on its Web site, issued a statement to announce the implementation of the new measures, and revealed that the news conference will be held in the near future, in order to let consumers know more details.
Only those who qualify under construction housing should be a time of audit
Association of Banks in Malaysia, listed the main flow of the loan application and the required number of days, but limited to the general case of eligible housing development projects under construction, you may need more audit time.
Counting 30 days to 60 days, in accordance with the relevant procedures, after the approval of the loan application, the bank will be issued within three working days to approve the loan documents (letter of offer) and sign the relevant documents in the applicant will prepare a complete loan and legal documents for issuing loans.
Last step is received within five working days after the lawyer's letter loans, bank loans will be officially.
In addition, after the reunification of less than RM500, 000 or housing loan principal terms of the contract documents, will be divided into three parts, namely banks of the first part of the terms of the uniform, the second part of that is not covered by the terms in Part A, and The final portion of the bank issued to approve the loan documents.
The first part of the file will set out the details of all housing loans, including borrowers, loan interest rate, amortization period, interest calculations, the lock-up period of default / arrears Loans and mortgage-related information.
Homebuyers have questions, you can email the the Association
[email protected] or call the hotline at 1300-88-9980 during working hours.
Chen Chung Ling: the loan process to help homebuyers ready
On the other hand, Chan Chung Ling, director of the Malaysian the homebuyers Association (HBA) Chinese group that the new measures to be implemented by the Association of Banks in Malaysia, allowing homebuyers to clear the loan process, let them ahead to prepare.
"Everyone's situation is different, and the mortgage period is generally up to 20-30 years, the bank will not easily approve the application process with the reference period, homebuyers can understand the operation of the bank." He said, homebuyers generally most concerned about , the ability to get the best mortgage rates and hope were loans in the shortest possible time, so do not complicate the application program is best.
"In the general case, if the file get ready, the application process smoothly loans within four months is possible, but the houses, who do not have title deeds or lease is 99 years, second-hand housing, may need more time." He jobs listed by the Association of Banks in Malaysia deadline for reference only, plus the competitive relationship between the banks, because of the different circumstances of each applicant, the application of the conditions required audit time may be shorter.
13 commercial banks involved in
Maybank.
Affin Bank.
CIMB Bank.
Citibank
Hong Leong Bank.
HSBC Bank.
7 OCBC
8 Public Bank
Industrial Bank 9.
Standard Chartered Bank 10.
UOB 11.
Allianz Bank 12.
AmBank 13.
