Otherwise known as home loans, it basically refers to a type of loan borrowed from a bank or financial institution to purchase a residential property such as a house, apartment or condominium.
You may come across a print or digital ad that reads something like “10% Below Market Value for A Double-Storey Terrace House at Taman Cheras Perdana, KL”. Usually, a residential property that sold below market value is due to several factors. For instance, the owner is living out of the country due to work-related transfer or the owner is unable to cope with the mortgage loan anymore which prompted the bank to take possession and auctions it to the highest bidder.
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It can be disheartening when all your effort trying to get a housing loan is rejected or disapproved by the bank. This is especially true if your CCRIS (Central Credit Reference Information System) or CTOS is blacklisted or generally unfavourable. It can be due to the fact you fail to pay your loan in full or you regularly late or miss paying your monthly debt repayment. This is why it’s important to maintain a good credit score because it determines whether or not you are eligible to apply for any bank loan.
A licensed money lender can help by giving a short term loan to applicant to fully settle some of the debts in CCRIS that is showing unfavourable repayment records. Once this debt is fully settled, CCRIS will remove the repayment records from the system. Thus, this would clear up the credit profile of the customer, to qualify them to apply housing loan from the banks.
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Getting a housing loan from the bank can be troublesome at times. Besides, the bank is often strict with their terms and conditions. From preparing a stack of documents to handling rejection due to unhealthy credit scores, it seems like the end of the world. Fortunately, we, as the licensed private money lenders are here to help to minimise your problem. If you ever have a difficulty getting your housing loan approved by the bank, we are your best alternative.
Unlike commercial banks, you do not have to worry about compiling lots of documents because our requirements are minimal. Even if you are blacklisted by the bank due to CCRIS or CTOS issues or filed for bankruptcy, you are still welcome to apply. Best of all, our loan approval is fast and easy if you need urgent cash to clear off your unfavourable credit records such as credit card debts prior to applying for a housing loan from the commercial banks.
Do call and know all about us if you are from Kuala Lumpur and Selangor and are interested in our Personal Loan? Call Us Now +6011-2939 9300 or Email at info@LenderLoanMalaysia.com for more info!