[WTA] Maximum LTV for 3rd Home Loan

torin — Mon, 18 Feb 2013 17:36:56 +0800

http://www.theedgeproperty.com/news-a-view...-home-loan.html

Hi guys, referring to the link above, it says that BNM is imposing a maximum LTV ratio of 70% for the 3rd house financing facility taken by a borrower. Can I just clarify whether this means that:

- If I have two properties on hand now and I want to take a new loan to purchase the third house, I'd be saddled with this restriction?
- What if I have two houses, sold off one and now want to take a new loan to purchase the 3rd house? Will this restriction apply?

Hoping for a straightforward answer. Thanks!

regards,
T

Question on MRTA

torin — Wed, 20 Jun 2012 13:01:09 +0800

Hi guys,

New here to this Property Forum. I would like to check on MRTAs and MLTAs. I'm planning to buy a property and taking a loan of around RM480k for around 30 years. The mortgage will be taken under both my wife and my own's name. Our age are around 36 & 37. My questions:

1) If I buy MRTA, how much would I expect to pay (one off cost)?
2) If I buy MLTA, since the property is under 2 names, so I need to buy 2 MLTAs for both of us that's sufficient to cover the loan cost?
3) Say if i get MLTA to cover this new property. I understand that MLTAs can be transferred when buying another property. Generally one would expect a person to buy a new property first, before selling the old one (assuming they are staying in the old one). Can I transfer the MLTA to the new property first while I'm still servicing the old mortgage. My understanding is no, but I just want confirmation.

Thanks for your input.

regards,
T

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[WTA] Maximum LTV for 3rd Home Loan

Question on MRTA