Ways to Bypass 3rd property 70% LTV ruling

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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby butthead » Sat Aug 18, 2012 8:27 am

yeeeekkk wrote:
seancorp wrote:how to prove it's the third one? if i have some two units long ago but refinanced it higher (above SPA) but not on 90% but lower than the current valuation. ie 120% base on SPA but 70% base on current valuation. So this take up the quota?

Also some of my others are in sdn bhd, and 70% and below, and now 60% and below, are all these counted.

One unit with relative (actually just helping) as joint borrower but no name on property, also counted one?

some bank seems to be confused with the situation, so always is to show all and let them decide but always said "70% loh" as they didn't work hard enough to understand the position


That's what I was thinking too. Also let's say I already throw in all the money to my flexi loan but do not want to settle it coz still in lock-in so still consider got 1 loan? Essentially that means I can settle it but just do not want to incur the penalty.
Yeah and those with no name on property but as joint borrower also counted ka?


As I understand it, bankers are responsible to to check financial status on each applicants through bank negara system. http://creditbureau.bnm.gov.my/index.php?ch=5&pg=7&ac=10
Any loans that is disburse out will be recorded with its details. Hence, bankers know when to give you 70% or 90% loan. Of course you can try to inform banker you need 90% but in reality you can get 70% loan only. If banker approves, it's a miracle. Do take note that bankers now requires declaration of commitments which binds you legally in case they want to take legal action against you.

As for the sdn bhd, I think you will escape the 70%LTV as company can be own by many director. But sdn bhd needs to declare taxes on their properties. Of course you can lease out your properties without declaring. The risk is yours.

As for the joint borrower, well, bad luck, both will get hit by 70%LTV.
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby kenji1903 » Sat Aug 18, 2012 8:42 am

alexL wrote:
linkor wrote:some bank allows u to FD 10% and loan u 80%. the 10% can withdraw after 6month of first draw down. (if I remember correctly).


Which bank offers this?

Btw not easy to get 90% from MBSB now, they have become more conservative.

they are even tighter for commission based salaries :crazy:
maybe not worth the hassle for the interest rate package and lock in penalty...
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby Phoenix_142 » Sat Aug 18, 2012 11:57 am

yeeeekkk wrote:
1. 70% doesn't work for those who have a large portfolio as they have lots of capital. But it affects those who are starting out as they just start to work and have problem raising the capital. It also affects the older ones who are more kiam siap and want to preserve capital.

2. Don't think the younger ones are coming on board with a vengence. I think they have been around all these while, just that the number of them are more now just as people are more aware. Also not to forget that we are actually still a young population. Not all of them have high purchasing power la. Those fresh grads now can hardly afford a first prop.

3. Yes. This is true. If developers don't throw in these goodies then the BBB mode won't be so strong but they need to sell their products too right. They will find other ways if the gov enforces such rules. That's the job of their marketing team.


1. erm - that's essentially what i said.

2. pls don't read literally. "younger ones" applies to people that may be affluent, missed out on opportunities from 2006 to 2010, and only have one prop or so. They are "young" in terms of their portfolios.

3. yes, developers will be profit orientated. but the gomen has to sometimes stay clear of lobbyist and put its foot down when necessary. That's the job of the goverment.
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby zhengdek » Sun Sep 09, 2012 5:20 pm

i think that u hv raised up a good point here to refinance ur existing property. It is the best way to get additional cash to dump into ur new property.
or make it simple u can actually top up additional amount instead of refinance the whole loan.

to add on, for company to purchase residentail unit is not workable because since end of last year. BNM has imposed a new rule where company only can get LTV of 60% regardless number of residential property in hand.
Chris Chong
Alliance Bank (SME)
Email: zhengdek@gmail.com
Tel: 016 220 9575
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby calvinlee » Mon Nov 19, 2012 9:40 am

Hi, may i check with the expert forumers at here?
Mr A and Mr B jointly purchase a serviced apartment unit. S&P to include Mr A and Mr B's names. Loan to include Mr A's name only. Mr A has no existing house loan facility but Mr B has two existing house loan facilities.

Will the loan be subjected to 70% restriction?
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby gerald13 » Mon Nov 19, 2012 10:56 am

calvinlee wrote:Hi, may i check with the expert forumers at here?
Mr A and Mr B jointly purchase a serviced apartment unit. S&P to include Mr A and Mr B's names. Loan to include Mr A's name only. Mr A has no existing house loan facility but Mr B has two existing house loan facilities.

Will the loan be subjected to 70% restriction?


Not an expert, the loan won't be subjected to the 70% restriction because the loan facility only have Mr A's name. The ruling only applies to loan facility, not the names in S&P.
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby wth » Mon Nov 19, 2012 11:07 am

gerald13 wrote:
calvinlee wrote:Hi, may i check with the expert forumers at here?
Mr A and Mr B jointly purchase a serviced apartment unit. S&P to include Mr A and Mr B's names. Loan to include Mr A's name only. Mr A has no existing house loan facility but Mr B has two existing house loan facilities.

Will the loan be subjected to 70% restriction?


Not an expert, the loan won't be subjected to the 70% restriction because the loan facility only have Mr A's name. The ruling only applies to loan facility, not the names in S&P.


Same understanding as gerald13.
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby yeeeekkk » Mon Nov 19, 2012 4:51 pm

gerald13 wrote:
calvinlee wrote:Hi, may i check with the expert forumers at here?
Mr A and Mr B jointly purchase a serviced apartment unit. S&P to include Mr A and Mr B's names. Loan to include Mr A's name only. Mr A has no existing house loan facility but Mr B has two existing house loan facilities.

Will the loan be subjected to 70% restriction?


Not an expert, the loan won't be subjected to the 70% restriction because the loan facility only have Mr A's name. The ruling only applies to loan facility, not the names in S&P.


LTV70% still applies for this case. I tried to do this once but all the banks told me not to put both names in to SNP as I won't be able to get 90%. So if your family member is still eligible for 90% better not put both names into SNP.

So, u can buy 2, wife 2, abang 2, kakak 2, adik 2, father 2 mother 2 la. :sailor: Total = 14 :clown:
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby csl33 » Mon Nov 19, 2012 5:11 pm

yeeeekkk wrote:
gerald13 wrote:
calvinlee wrote:Hi, may i check with the expert forumers at here?
Mr A and Mr B jointly purchase a serviced apartment unit. S&P to include Mr A and Mr B's names. Loan to include Mr A's name only. Mr A has no existing house loan facility but Mr B has two existing house loan facilities.

Will the loan be subjected to 70% restriction?


Not an expert, the loan won't be subjected to the 70% restriction because the loan facility only have Mr A's name. The ruling only applies to loan facility, not the names in S&P.


LTV70% still applies for this case. I tried to do this once but all the banks told me not to put both names in to SNP as I won't be able to get 90%. So if your family member is still eligible for 90% better not put both names into SNP.

So, u can buy 2, wife 2, abang 2, kakak 2, adik 2, father 2 mother 2 la. :sailor: Total = 14 :clown:


Alliance and UOB can still get 90% with 1borrower, 2 parties signing SPA
Hong Leong and Maybank subject to 70% LTV if either party signing SPA has more than 2 props :)
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Re: Ways to Bypass 3rd property 70% LTV ruling

Postby yeeeekkk » Mon Nov 19, 2012 5:24 pm

last time I asked maybank, PBB, OCBC, CIMB, SC, Citi, HSBC, HLB = semua tak jalan. All subjected to LTV70%. Didn't try Alliance and UOB that time.
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