COMMON MISTAKES MADE DURING LOAN APPLICATION (EP4)

[@desmond0603]

Thank you Sean and Rena for this episode! Learned sooo much about applying for housing loan as a small business owner 🙏🏻 I was struggling with this when I tried to apply for a property during my first year as a business owner and now I know why 😢😢😢 Feel really frustrating on missing out on the property but totally understand from the banker point of view as my business is still young and not stable yet. Hopefully soon I can try to get myself a property when I am ready financially. Please make more of these videos for us business owners in the future as it is really difficult to find these kind of information out there. Thank you once again Sean and keep up the good work! 🎉

[@kyurin0203]

the series has been super helpful to a loan newbie like me. thanks so much 🙌🏻

[@iherng]

You're so welcome ;)

[@maxayam8268]

What happened to her mic? If the late penalty shows on your payslip then it will tally with the amount bank into your account so no issue there. Dividends from stocks are exempted from income tax. Capital gains from trading of stocks are also exempted unless they exceeds 80% of your total gross income where you'll be taxable as an investment holding company. So you do need to pay taxes if your sole income is from investment only.

[@Onion_Knights]

yea, they need all salary to be banked into your account. salary in cash? nope, usually fail. need to be tally with what ur salary is. AND if say ur salary go in, and straightaway u transfer out to someone else, bank will ask u why is that and what its for, even if its a small amount

[@fitrirahman7230]

love to watching this.. i always support you iherng

[@iherng]

Appreciate it Fitri!!

[@ivyhealthylifestyle7113]

Hi Sean, recently I always saw people saying about refinance with zero cost. All the while I know, if refinance will incurred few thousand cost. I scared if any scam out there. Can you share is it possible will have zero cost refinance home loan recently?

[@riizify]

Thank you for your hard work

[@iherng]

Thanks for watching yea!!

[@hazimyusoff67]

First Edit: Sean, u should get one of the guys that run the auction house for properties. Ngchanmau. I would love to hear his thoughts, concerns and outlook in the auction property market. 1. Highlights and lowlights in the auction market 2. Trends in the auction market 3. Experiences handling auction property 4. Stories both good and bad about the property or the people who buy these types of properties. 5. Your experience dealing with this other type of market Really really really looking forward to that episode. It would basically be a continuation of the previous episode introducing the 4 type of markets to your viewer ie bulk purchase, developer, subsale, and auction. Sorry for the long comment.

[@All-gp3tt]

Due to privacy and liabilities Companies don't give out employees detail info. They just said this employee does work here, that's it

[@caroluvsuju]

How about freelancer income, salary base but depends on project, no contract with employer

[@lamgiatman4914]

Always keep a checklist of prepare supporting document to apply loan. Gentle reminder and good luck

[@iherng]

Thanks for watching Lam!!

[@tangchuengkhai]

Hi iherng can you upload this series to podcast ?

[@iherng]

Let me work on it!!

[@iLoveMelakaCars]

No hope for buying a house edi. 🎃

[@iherng]

Well if your plan is to buy house in 3 years time, we need to start planning now.

[@billyleong]

audio seems wonky

[@kennyteoh4409]

May I know if I working remotely from a singapore company and did not have EPF contribution wil my loan get rejected? But every year end I will bank in one lump sum of money to kwsp & declare tax

[@trustmylaw]

Banks in Malaysia recognise salary slips and bank statements from Singapore. You won't get rejected if your profile is OK.

[@VCestate]

It won't be an issue if all documents such as bank statement, salary slips and even you have proof of submitting money into KWSP and most importantly, declaring tax, you'll be fine for it. Remember to gather up to 6 months of documents so it can minimise your time to keep digging documents when you're applying for multiple banks for comparison sake...

[@sinkorswimchimmy6786]

Some weird questions I was asked. Why are you paying so much for your own EPF ? We had not seen this high percentage before. Why you applied and cancelled so many credit cards in a year ?

[@iherng]

Haha. Thanks for sharing!!

[@rainlow8]

What about combine income for loan application? Example couple married

[@iherng]

What about it!? You wanna know mistakes of doing so?

[@VCestate]

@@iherng Always love when you talk about not applying loan with your another half no matter what. Even at the rational stand point, all of us have 2 quotas to get up to 90% loan, once you joint loan with another half means both parties lost each opportunity to get 90%, means 2 of you get only 3 of 90% quota, which is a waste.. Also, if your income isn't matching the property value you're keen, means you have to increase your income than thinking how to join name to get the loan approved 😅 Better safe than sorry...

[@nickcdiaz1349]

Rena is super attractive Omg 😆 😅

[@kevintan2926]

The banker said from 4000 to 8000? Jump of 50% increase? 😂

[@All-gp3tt]

That is why Malaysia needs to have a credit bureau that tracking every person credit and income and bankruptcy. Like in US

[@VCestate]

Were waiting for this too! How good when we all can check our credit score within apps to understand what's the current condition so we can understand more before actually applying for any loans, while rejected may cause decreasing of credit score, which is awful 🤦🏻‍♂

[@All-gp3tt]

@@VCestate Well, this is lender to prevent credit risk and offer people with good credit a much better loan rates. Its like I have great credit score I received 2.25% for mortgage and those who have not a stellar credit score get a 3% rates

[@All-gp3tt]

@@VCestate I was thinking of setting up a Company doing that but due to this is an important industry and the Malay govt will want free 30% equity. NO Way.

[@VCestate]

@@All-gp3tt I’ve heard that there’s a lot of big corp that trying to work with them but they always take 30% cut…

[@All-gp3tt]

@@VCestate I am glad that run away from Malaysia..

[@tthh8757]

Bank Harimau MayB lol