Loan Application Procedure

You may opt for loan application with our appointed panel bankers or choose any bank/finance institution of your choice.
You are required to provide the following documents for the loan application.

documents required for loan processing

Employed applicants

Booking proforma of the property purchased
Title deed of the property purchased
Photocopy of identity card (for Malaysians) or passport (for non-Malaysians)
Latest 3 months payslips
Latest 3 months bank account statements indicating salary credited
Latest tax assessment form
Latest EPF statement
Other documents as may be required by bank/finance institution

self-employed applicants

Booking proforma of the property purchased
Title deed of the property purchased
Photocopy of identity card (for Malaysians) or passport (for non-Malaysians)
Company Registration Forms i.e Form 24 and Form 49 or other relevant forms
Latest financial statements
Latest 3 months bank statements
Latest tax assessment form
Other documents as may be required by bank/finance institution

criteria for loan application & approval

In order to qualify for loan financing, you are to fulfill the following criteria:

Has stable income
Age not exceeding 55 years old
Monthly installment of the property purchased including current commitments e.g car loan, personal loan and others should not exceed one-third of the monthly income

sequence of loan processing

Buyer – Submission of loan application form with required documents
Bank – Loan evaluation by bank/finance institution
Bank – Issuance of Letter of Offer (LO) upon approval bank/finance institution
Buyer – Signing of LO as acceptance of the offer. One copy of the signed LO will be kept by the bank and another copy will be forwarded to the developer
Bank – Bank/Finance institution to instruct appointed solicitor for loan documentation arrangement:
- Deed of Assignment and Loan Arrangement (for Strata Units); or
- Memorandum of Transfer Form 14A and Charge Form (Landed units with individual titles)
Bank – Issuance of notification letter on execution of loan documents at solicitor’s office
Buyer – Execution of loan documents at solicitor’s office
Solicitor – Executed loan documents returned to solicitor for stamping and registration. Stamped loan documents forwarded to bank/finance institution for safe keeping. A copy each is given to purchaser and developer
Bank – Bank/finance institution to release payments to developer progressively in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of developer’s billing