Question:
Hi melissa, my ccris record is “too clean” so a friend suggest to apply for personal loan (RM25k for 7 years with aeon)

my gross salary RM4,500
nett is RM3,900
monthly personal loan RM596

currently applying housing loan RM500k

what are my chances?

MHL Answer:
Hi,
I hope “too clean” means you have no loan facilities in CCRIS report.
If this is what you mean, then this is my explanation.

Many banks are quite reserves in giving out a home loan to a borrower without any loan facilities.
It used to be a good thing 15 years ago, but not now.

Some banks will reject a borrower application or some will give out a lower margin around 70%-80%.
You’re no longer enjoying the maximum margin of 90%.

How to fix this issue if you want a 90% margin?
While there is no shortcut for this ( as I know, there isn’t any, please do let me know if there is ?), you have to apply for a loan facility.
At least one.
The easier one will be credit card application.
Used it, pay your credit card, and make sure pay on time.
Do this for a couple of months, I’d suggest for at least six months before applying for a new home loan.

Another way that I’d suggest would be joining with someone who has loan facilities, paying promptly, and have a good income. This might work at 50:50 chance.

I hope this help.

Good Luck!

Thanks.
Melissa Lee
0126946746
Online Mortgage Consultant
www.Malaysiahousingloan.com

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