Asked by Anonymous
I currently live abroad
and have been for nearly 50 years.
Investing and owning a house in Malaysia is very attractive as I still am a proud Malaysian, returns frequently as I was born there.
I am considering injecting a large sum of money like 3 to 5million into a house I have in mind in a prime location by the sea. But I wish to borrow one million to buy a larger property. So my total equity say is 5 million myr but I wish to borrow at least one million Will it be difficult as my earnings are all from property rental abroad where I live, work and have retired from my main job.
So showing a tax receipt is not possible.
But could I use the large deposit about 3 million or so on the house count as collateral for a one million mortgage. I am working here with myr and one house I wish to buy not more.
I hope you can guide me if there is a possibility to do this.
Much appreciative of your advice.
Regards
and have been for nearly 50 years.
Investing and owning a house in Malaysia is very attractive as I still am a proud Malaysian, returns frequently as I was born there.
I am considering injecting a large sum of money like 3 to 5million into a house I have in mind in a prime location by the sea. But I wish to borrow one million to buy a larger property. So my total equity say is 5 million myr but I wish to borrow at least one million Will it be difficult as my earnings are all from property rental abroad where I live, work and have retired from my main job.
So showing a tax receipt is not possible.
But could I use the large deposit about 3 million or so on the house count as collateral for a one million mortgage. I am working here with myr and one house I wish to buy not more.
I hope you can guide me if there is a possibility to do this.
Much appreciative of your advice.
Regards
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