We have one client; let call him Mr Sham (not his real name).

Mr Sham wants to buy a house in Shah Alam, and he has been dealing directly with the Seller.

So, he came to us to advise buying the house and how to go about it.

At the same time, he wants to apply for a housing loan application through us. As usual, we are always welcome all our client to do so.

Little that he knows, during the phone interview, we discover he has two existing home loan.

And the new house with the new home loan will be considered as a 3rd home loan.

As some of you might know, the margin of finance ruling on 3rd housing loan is 70%.

And he is unaware of this ruling and expecting to get a 90% margin.

And he is so so lucky that he has yet to put down the deposit.

Meanwhile, he has sold one of the existing houses, and the housing loan will take a few months to fully settled. Also, it will take another month to update the CCRIS.

So, we advise him to slow talk with the Seller and negotiate and maybe the Seller willing to wait since the property market is very glooming lately.

And you know what?

He is willing to wait.

So, that is last year story.

Now, the house transaction is almost at the end.
And after the CCRIS updated, Mr Sham will be able to apply for a new loan.

I am glad he came to us because he negotiated before paying the deposit instead of paying the deposit then negotiate.

This is one of the biggest mistakes people usually do.

Once you pay the deposit, you do not have as much negotiation power as before you pay the deposit.

Just my two cents!


Melissa Lee
Online Financial Consultant
Call Us: 012-6946746 (talk to Mr David)
Whatsapp Us: https://wa.me/+60126946746




1 Step 1
Any Questions? Leave the details here. We'll contact you shortly.