Asked by r***@gmail.com
MRTT vs MLTT
Hey Man
I'm buying my second Home for my own stay.
Straight to the point, the loan will be a joint name, however, I will be the one to pay the monthly installment 100%.
So my first question is (actually I will ask my banker when I meet him), can I buy it with 100% only covering me even this is a joint loan. The reason why is because as said, I will be the only person to pay the monthly installment, so I need to make sure if anything happened to me the loan outstanding will be covered 100%.
Anyway, secondly, I have watched a lot of explanations between MRTT vs MLTT. I feel MLTT will be very relevant for my case where I am the sole payer to the monthly installment so I will want something that can take care of the outstanding 100% and on top of that if there is extra, my family can use that money for name transfer, stamping etc.
What i don't understand is why in every video or blog i read, they simply put it where MRTT for own stay. MLTT for investment property.
Hey Man
I'm buying my second Home for my own stay.
Straight to the point, the loan will be a joint name, however, I will be the one to pay the monthly installment 100%.
So my first question is (actually I will ask my banker when I meet him), can I buy it with 100% only covering me even this is a joint loan. The reason why is because as said, I will be the only person to pay the monthly installment, so I need to make sure if anything happened to me the loan outstanding will be covered 100%.
Anyway, secondly, I have watched a lot of explanations between MRTT vs MLTT. I feel MLTT will be very relevant for my case where I am the sole payer to the monthly installment so I will want something that can take care of the outstanding 100% and on top of that if there is extra, my family can use that money for name transfer, stamping etc.
What i don't understand is why in every video or blog i read, they simply put it where MRTT for own stay. MLTT for investment property.
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