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Dear Guru
Am foreigner Working in Kuala Lumpur as an IT Professional. Am thinking about buying a property in KL, around 500,000 (MAX).
My Concern is, Bank Loan. As of now I can afford a down payment of 10% only, rest 90% am depending on bank. Well I checked with a lot of agents, so far I am getting mixed response like, bank will only give 80% or 70% for foreign expat, is it true? Please let me know. I cant afford more than 10% as of now.
Waiting for a positive reply.
Thanks and Regards
Mohammed Jamshed
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1 Answer

David Wong Lai Kwong
Replied
Jamshed,
Technically foreigner can only buy property above RM500,000. Banks are cautious on lending and one foreign bank told me that they can only lend up to 60% margin for foreigners. If the borrower is a priority bank customer margin can be 70% or at most 80%. All depends on the policy and credential of the borrower. 90% loan is unlikely.
David Wong Read More
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