How to Apply for a Loan

You may opt for a loan application with our appointed panel of bankers or choose any bank/finance institution of your choice. You are required to provide the following documents for the loan application:

DOCUMENTS REQUIRED FOR LOAN PROCESSING

Employed applicants

  • Booking proforma form for the property purchased;
  • Title deed of the property purchased;
  • Photocopy of identity card (for Malaysians) or passport (for non-Malaysians);
  • Latest payslips for the last three-months;
  • Latest bank account statements indicating salary credited (for the last three-months);
  • Latest tax assessment form;
  • Latest EPF statement; and
  • Other documents as may be required by bank/finance institution.

Self-employed applicants

  • Booking proforma of the property purchased;
  • Title deed of the property purchased;
  • Photocopy of identity card (for Malaysians) or passport (for non-Malaysians);
  • Company Registration Forms i.e. Form 24 and Form 49 or other relevant forms;
  • Latest financial statements;
  • Latest bank account statements (for the last three-months);
  • Latest tax assessment form; and
  • Other documents as may be required by bank/finance institution

CRITERIA FOR LOAN APPLICATION AND APPROVAL

In order to qualify for loan financing, you need to fulfil the following criteria:

  • Have a stable income;
  • Should not be above 55 years of age; and
  • Your monthly instalment for the property purchased including current commitments (e.g. car loans, personal loans and others) should not exceed one-third of your monthly income;

LOAN PROCESSING SEQUENCE

  • BuyerSubmission of loan application form with the required documents.
  • BankLoan evaluation by bank/finance institution
  • BuyerSigning of the letter of Offer (LO) as acceptance of the offer. One copy of the signed LO will be kept by the bank and another copy will be forwarded to the developer.
  • BankBank/Finance institution to instruct the appointed solicitor for loan documentation arrangement:
    • Deed of Assignment and Loan Arrangement (for Strata Units); or
    • Memorandum of Transfer Form 14A and Charge Form (Landed units with individual titles)
  • BankIssuance of notification letter upon execution of loan documents at the solicitor’s office.
  • BuyerExecution of loan documents at the solicitor’s office.
  • SolicitorExecuted loan documents returned to solicitor for stamping and registration. Stamped loan documents forwarded to bank/finance institution for safekeeping. A copy each is given to both the purchaser and developer.
  • BankBank/finance institution to release payments to the developer progressively in accordance with the Third Schedule of the Sale and Purchase Agreement upon receipt of the developer’s billing.