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    Maybank London Residential Home Financing

    Maybank offers loans to facilitate buying properties out of Malaysia. Some of the countries from which you can purchase properties with Maybank’s support are Melbourne, Sydney, Perth, London, and Singapore. One such loan is the Maybank London Residential Home Financing scheme exclusively designed to purchase residential properties in London.

    Type of Loan Term Loan.
    Loan Tenure Up to 30 years.
    Lock-in Period 1 year from the loan disbursement date.
    Margin of Financing Up to 80%.
    Loan Amount £100,000 to £5 million.
    Interest Rate Up to finance margin of 80%: Cost-of-Fund + 1.25% p.a. Up to finance margin of 60%: Cost-of-Fund + 1.00% p.a.

    Features and Benefits

    • The Maybank London Residential Home Financing is a term loan.
    • All loan transactions will take place in Great Britain Pounds.
    • Open a Rent Collection Account with the London branch of Maybank.
    • Enjoy a long repayment tenure of up to 30 years.

    Fees and Charges

    Processing Fee
    • Submission—£500.00.
    • Acceptance—£500.00.
    Early Repayment Fee
    • Within one year: 3% of the loan limit.
    • After one year: 3 months’ interest or 3 months’ notice.

    Eligibility Requirements

    Age Limit
    • Minimum Age: 18 years.
    • Maximum Age: 70 years.
    Purpose
    • Buy-to-Let (BTL).
    Others
    • Existing HNW client with Maybank Group.

    Documents Required

    Salaried Employees
    • A copy of your NRIC.
    • Last 3 months’ salary slips.
    • Latest BE Form.
    • A copy of title deed and Sales and Purchase Agreement.
    • A copy of valuation report.
    Self-employed Applicants
    • A copy of your NRIC.
    • Latest 3 months’ financial statements.
    • Latest B Form.
    • Last 6 months’ bank statements.
    • A copy of title deed and Sales and Purchase Agreement.
    • A copy of valuation report.

    How to Apply

    Online Application
    • Visit the bank’s website.
    • On the “Contact Us” page, fill your contact details and submit it to the bank.
    • A bank representative will get in touch with you to guide you through the application process.
    Customer Care Application
    • Get the Customer Care Hotline number from the bank’s website.
    • Connect with a customer service representative to know more about the application process.
    Branch Application
    • Visit the nearest branch.
    • Fill up the application form.
    • Attach the required documents and submit the application.

    The Maybank London Residential Home Financing offers you high-finance margin to purchase a residential property in London. Maybank also provides an easy way to repay the loan with a dedicated account. You can also refinance an existing residential property loan. Do remember that the property you buy must be only for the purpose of letting it, and not for you to reside.

    FAQs

    Q. What is a rent collection account?

    A. The rental proceedings for the property you are going to buy will be assigned to an account called a rent collection account. You must make the loan repayments to this account so that the bank can access them.

    Q. What are the eligible property types for this loan?

    A. Any residential property that is completed or under construction (landed and non-landed) are eligible for this loan.

    Q. Can I choose a residential property from any locality in London to get the financing?

    A. No. According to the terms of the loan, the property must preferably be located in Zone 1, 2, or 3.

    Q. Can I refinance an existing loan on my property?

    A. Yes. You can refinance an existing loan on your property. However, the property must be used only for the purpose of letting out.

    Q. Does the same interest rate apply for portfolio landlords?

    A. No. The interest rates applicable for portfolio landlords differ with the rates applicable to others.

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