Over the years, the Malaysian Government is encouraging more and more foreigners to purchase a home in Malaysia. If you are a foreigner in Malaysia (either a tourist or an expat) and considering to buy a home, read this article to take an informed decision.
The following documents are required in order to apply for a home loan in Malaysia:
The following is the list of banks offering home loans in Malaysia:
Q. I am a non-resident Malaysian. How can I finance a property in Malaysia?
A. Being a non-resident Malaysian, there are two ways in which you can finance a property in Malaysia – either you buy a property in Malaysia by bringing in finance from your home country or opt for a home loan to finance a property in Malaysia . You can get a home loan if you have a good credit history.
Q. I am married to a Malaysian. Do I still need to apply for MM2H?
A. Yes, as per the new rule, you need to apply for MM2H Visa if you are married to a Malaysian.
Q. Are there any major exclusions related to property purchase in Malaysia?
A. Yes, there are exclusions. Here are some of them:
Q. What is the finance margin for housing loan for expats in Malaysia?
A. The finance margin is 80% for MM2H holders and 70% for non-MM2H holders.
Q. How long is the Social Visit Pass valid?
A. The pass is valid for 10 years. It is renewable as well.
The Malaysian Government is trying its best to encourage more and more foreigners buying a home in Malaysia. If you are a foreigner and have all the supporting documents in place, getting a home loan won’t be that much difficult. However, ensure that all the documents are valid and legitimate in order to enjoy hassle-free home loan approval.