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Housing 101

The Association of Banks in Malaysia

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Housing 101

Deciding to buy a home, evaluating my financial status
  • Understand your budget to determine your affordability
  • Know your credit score
  • Understand your repayment capabilities
  • Ascertain all your financial commitments e.g. car loan, credit card debt, personal loan etc
Looking for the right home
  • Decide whether to explore new developments of existing properties
  • Determine the location of your property
  • Explore new development projects or existing properties
  • Check the developer’s track record and if they are approved and operate with a valid license from the Ministry of Housing and Local Government. If you are considering existing properties in the market, do ensure your property agent is a registered Real Estate Negotiator (REN)
Sources of funding
  • Determine your sources of funding the 10% deposit
  • Check your loan eligibility with a bank
  • Decide how you will finance your loan repayment
  • Establish whether the loan will be an individual loan or a joint loan
  • Determine the tenure of the loan
  • Housing loan calculators can be useful to provide guidance
  • Shop around for a loan that suits your needs
How to apply for a loan
  • Find out the paperwork involved when submitting an application for a loan to a bank
  • Declare other legitimate additional income you may have to substantiate repayment capabilities
Other costs involved

Check out other costs involved once the loan is approved. Incidental costs may involve:

  • Stamp duties
  • Loan agreement fees
  • Transfer of Title (for completed properties only)
  • Disbursement fees
  • Insurance coverage
  • Deposits for utilities
  • Legal fees (whether self-appointed or assigned by the bank providing the loan)
  • Maintenance fees
  • Strata fees
  • Assessment fees
  • Quit rent
Duties of a borrower
  • To duly read and understand all terms and conditions of the loan documentation
  • To enquire and get clarification on all aspects of the loan to your satisfaction
  • To comply with all the terms and conditions of the loan documentation
  • To ensure timely repayment of the loan in compliance with the loan documentation
Duties of a financial institution
  • To discharge the lender’s obligations as described in the loan documentation
  • To notify borrowers on any charges made to the terms and conditions, fees charged and other relevant information
  • To attend to all queries made by borrower
Knowing your rights as a borrower
  • Be treated professionally, courteously and without prejudice
  • Be notified on changes to the terms and conditions of your loan
  • Access to accurate information on a regular basis on your loan account
  • Right to enforce the terms and conditions of the loan documentation in the event of a breach
Rights of a financial institution
  • To have comprehensive disclosure on borrower’s credit standing
  • Right to timely repayment of interest/installments of the loan
  • Right to enforce the terms and conditions of the loan documentation in the event of a breach

ABM Connect | Toll-free on 1-300-88-9980

ABMConnect provides an avenue for consumers to clarify any doubts and verify information on conventional banking issues.

ABM Contacts

34th Floor, UBN Tower,
10, Jalan P.Ramlee,
50250 Kuala Lumpur.

Tel No: +603-2078 8041
Fax No: +603-2078 8004

ABMConnect

ABMConnect provides an avenue for customers to clarify any doubts and verify information on conventional banking issues and general concerns about credit. This will enable us to have a deeper understanding on issues in the banking industry to facilitate and create a conducive banking environment with our member banks.

How to Contact Us

Toll-free on 1-300-88-9980
Operational from Mondays to Fridays, 9.00a.m to 5.30p.m

eABMConnect
Submit your comments, queries or complaints here
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Impressum

Wir bieten unseren Kunden mit nützlichen Informationen und Ratschläge, die sie benötigen, fundierte Entscheidungen zu treffen, ihre Ziele zu erreichen. Ob es sich um die Verwaltung von Kundeninvestitionen oder einen umfassenden Plan für sie zu schaffen und ihre Familie sind unsere zertifizierten Planern gewidmet mit einem außergewöhnlichen Service zu bieten.

Deshalb, im Laufe der Jahre konnten wir einen Ruf als einer der besten unabhängigen Beratern zu bauen. Wir verstehen die Bedeutung der Kunden auf dem richtigen Weg zum Erfolg bringen, und wir sind bereit, mit ihnen der Planung in allen Bereichen zu arbeiten.

Terms and Conditions

  1. Introduction

These Website Standard Terms and Conditions written on this webpage shall manage your use of this website. These Terms will be applied fully and affect to your use of this Website. By using this Website, you agreed to accept all terms and conditions written in here. You must not use this Website if you disagree with any of these Website Standard Terms and Conditions.

Minors or people below 18 years old are not allowed to use this Website.

  1. Intellectual Property Rights

Other than the content you own, under these Terms, Buckle LLC and/or its licensors own all the intellectual property rights and materials contained in this Website.

You are granted limited license only for purposes of viewing the material contained on this Website.

  1. Restrictions

You are specifically restricted from all of the following

  • publishing any Website material in any other media;
  • selling, sublicensing and/or otherwise commercializing any Website material;
  • publicly performing and/or showing any Website material;
  • using this Website in any way that is or may be damaging to this Website;
  • using this Website in any way that impacts user access to this Website;
  • using this Website contrary to applicable laws and regulations, or in any way may cause harm to the Website, or to any person or business entity;
  • engaging in any data mining, data harvesting, data extracting or any other similar activity in relation to this Website;
  • using this Website to engage in any advertising or marketing.

Certain areas of this Website are restricted from being access by you and Buckle LLC may further restrict access by you to any areas of this Website, at any time, in absolute discretion. Any user ID and password you may have for this Website are confidential and you must maintain confidentiality as well.

  1. Your Content

In these Website Standard Terms and Conditions, “Your Content” shall mean any audio, video text, images or other material you choose to display on this Website. By displaying Your Content, you grant Buckle LLC a non-exclusive, worldwide irrevocable, sub licensable license to use, reproduce, adapt, publish, translate and distribute it in any and all media.

Your Content must be your own and must not be invading any third-party’s rights. Buckle LLC reserves the right to remove any of Your Content from this Website at any time without notice.

  1. No warranties

This Website is provided “as is,” with all faults, and Buckle LLC express no representations or warranties, of any kind related to this Website or the materials contained on this Website. Also, nothing contained on this Website shall be interpreted as advising you.

  1. Limitation of liability

In no event shall Buckle LLC, nor any of its officers, directors and employees, shall be held liable for anything arising out of or in any way connected with your use of this website whether such liability is under contract. Buckle LLC, including its officers, directors and employees shall not be held liable for any indirect, consequential or special liability arising out of or in any way related to your use of this Website.

  1. Indemnification

You hereby indemnify to the fullest extent Buckle LLC from and against any and/or all liabilities, costs, demands, causes of action, damages and expenses arising in any way related to your breach of any of the provisions of these Terms.

  1. Severability

If any provision of these Terms is found to be invalid under any applicable law, such provisions shall be deleted without affecting the remaining provisions herein.

  1. Variation of Terms

Buckle LLC is permitted to revise these Terms at any time as it sees fit, and by using this Website you are expected to review these Terms on a regular basis.

  1. Assignment

The Buckle LLC is allowed to assign, transfer, and subcontract its rights and/or obligations under these Terms without any notification. However, you are not allowed to assign, transfer, or subcontract any of your rights and/or obligations under these Terms.

  1. Entire Agreement

These Terms constitute the entire agreement between Buckle LLC and you in relation to your use of this Website, and supersede all prior agreements and understandings.

  1. Governing Law & Jurisdiction

These Terms will be governed by and interpreted in accordance with the laws of the State of New York, and you submit to the non-exclusive jurisdiction of the state and federal courts located in New York for the resolution of any disputes.

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Buckle

The Association of Banks in Malaysia (ABM) was formed in November 1973. Our membership is currently made up of the 27 commercial banks operating in Malaysia.

Since its inception, ABM has been actively involved in various initiatives to promote and strengthen the commercial banking industry to become more resilient, effective and efficient.

Tel No. : +603-2078 8041
Fax No. : +603-2078 8004
ABMConnect : 1300-88-9980

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