loan application procedure

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

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office LOCATION

ADDRESS:

Level 9 Jakel Mall,
Lot 159 Jakel Square,
Jalan Munshi Abdullah,
50100 Kuala Lumpur, Malaysia

Phone:

+603 2615 0888

FAX:

+603 2615 0889

jakel development team

  • +6017 271 0341 (Aizzat)
  • enquiry@jakeldevelopment.com.my

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