Remortgaging your fully paid house, also known as refinancing, is a way to unlock the equity in your property and access additional funds. 

Owning a fully paid house in Malaysia can be a valuable asset but can also limit your financial flexibility.

Remortgaging your fully paid house can also help you get better interest rates or consolidate your debts. 

However, for retirees or older individuals in Malaysia, getting a home loan can be challenging due to age restrictions imposed by some banks. 

This can be frustrating for those who own a fully paid house and want to access the equity in their property. 

This article will cover the benefits and how to remortgage your property. 

Whether you are a retiree looking to access additional funds or a younger individual looking to help your parents, this article will provide valuable information on remortgaging and how it can work for you.

Benefits of Remortgaging Your Fully Paid House in Malaysia

There are several benefits to remortgaging your fully paid house in Malaysia. These include:

Access to additional funds 

By remortgaging your fully paid house, you can access additional funds that can be used for various purposes, such as home renovations or debt consolidation.

Lower interest rates

Remortgage loan is considerably lower interest rates compared to personal loans. Tapping into remortgage can help you save interest rates.

Consolidate debts

If you have multiple debts, such as credit card debt or personal loans, you can consolidate them into one loan by remortgaging your fully paid house. This can help simplify your finances and make it easier to manage your debt.

Improve cash flow

By remortgaging, you can reduce your monthly mortgage payments, improving your cash flow and giving you more disposable income.

How to Remortgage Your Fully Paid House in Malaysia

If you are considering remortgaging your fully paid house in Malaysia, here are the steps you need to take:

Research your options

Start by researching different home loan packages offered by banks in Malaysia. Look for packages suitable for fully paid houses and offer competitive interest rates and loan tenures.

Check your eligibility

Once you have identified a few home loan packages that interest you, check if you meet the eligibility criteria. This includes age restrictions, income requirements, and credit scores.

Gather your documents

To apply for a home loan, you must provide certain documents, such as your identification card, proof of income, and property documents, such as a SPA and title copy.

Apply for the loan

Once you have all the necessary documents, you can apply for a home loan. This can be done online or by visiting a bank branch.

Alternatively, you can contact us, and we will simplify the process by introducing you to a few bankers who can assist with your case.

Wait for approval

After you have submitted your application, you will need to wait for the bank to approve your loan. This can take anywhere from a few days to a  week or two.

Sign the loan agreement.

If your loan is approved, you will need to sign the loan agreement and provide any additional documents required by the bank.

Bank Lawyer will complete the process.

Once the loan agreement is signed, the bank lawyer will complete the remortgage process within 3-4 months, depending on your loan title status.

Disbursement of funds

Once the loan is processed, the bank will disburse the funds to your account, and now you can use it.


Remortgaging your fully paid house in Malaysia can provide access to additional funds, lower interest rates, and various other benefits. 

However, it’s important to research and compares different home loan packages to find the one that best suits your needs. 

If you need more clarification about the process or personalized advice, consider consulting a loan advisor or mortgage consultant like us.

You can contact us for more information on how we can help you find the best remortgage home loan for your financial situation.

Contact us here.


Before you go, read this article:

Should I remortgage now?




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