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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

<en>David</en> <en>Wong Lai Kwong</en>
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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