Asked by Anonymous
Foreign student currently studying in 1st year at UPM. No credit history in Malaysia. Monthly net income of approx. RM10K is remitted from London, UK via virtue of my work (Software development) for a large company in UK. 3 year history of income. No debt, credit cards, single and have a 3 year student visa.
1. Can I find a local bank to advance a mortgage?
2. How much gearing can I obtain?
3. Ideally looking to purchase a condo in excess of RM 800K. The loan to value (LTV) will dictate the equity down-payment so am mindful that I may require 30-40% equity.
4. What is the typical Debt Service Cover Ratio? Is there a requirement for stress test at a certain rate (sanctioned by Bank Negara)?
Any assistance devoid of enlistment into a marketing pitch will be highly appreciated. I know which condo I want and just seeking advice on home financing.
Thank you
1. Can I find a local bank to advance a mortgage?
2. How much gearing can I obtain?
3. Ideally looking to purchase a condo in excess of RM 800K. The loan to value (LTV) will dictate the equity down-payment so am mindful that I may require 30-40% equity.
4. What is the typical Debt Service Cover Ratio? Is there a requirement for stress test at a certain rate (sanctioned by Bank Negara)?
Any assistance devoid of enlistment into a marketing pitch will be highly appreciated. I know which condo I want and just seeking advice on home financing.
Thank you
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