Mortgage for Malaysia, without MM2H?
Mar 27th 2008, 6:55 am
#1
Just Joined
Thread Starter
Joined: Mar 2008
Posts: 5
Mortgage for Malaysia, without MM2H?
Hello Chaps,
As the title says - is this possible.
I have found loans available for the MM2H programme, but feel that it is geared more for folk nearing retirement, as the financial commitments are quite heavy.
I am only 30, so retirement is a ways off yet. I would however like to buy a place in KL (or nearby), for investment and/or perhaps as a holiday home, for it's a short commute from the Middle East.
I can't find any info on financing it though - is it possible to get a loan from a bank in Malaysia without being in the MM2H program. Or would I have to finance from an 'international'/offshore bank that does such loans.
Anyone have experience of this, or can point me to some links etc?
Cheers, Regards
C
As the title says - is this possible.
I have found loans available for the MM2H programme, but feel that it is geared more for folk nearing retirement, as the financial commitments are quite heavy.
I am only 30, so retirement is a ways off yet. I would however like to buy a place in KL (or nearby), for investment and/or perhaps as a holiday home, for it's a short commute from the Middle East.
I can't find any info on financing it though - is it possible to get a loan from a bank in Malaysia without being in the MM2H program. Or would I have to finance from an 'international'/offshore bank that does such loans.
Anyone have experience of this, or can point me to some links etc?
Cheers, Regards
C
Mar 27th 2008, 2:33 pm
#2
Just Joined
Joined: Mar 2008
Posts: 1
Re: Mortgage for Malaysia, without MM2H?
Hello,
Good luck, Getting mortgages in ASIA can be a nightmare, however, my IFA made me aware of a very handy alternative way to raise cash.
I have a Personal Portfolio Bond with Royal Skandia worth around $500,000 and my IFA arranged a interest only from a Bank in the Isle of Man using my PPB as collateral. I managed to release $200,000 from my PPB for a property purchase without having to cash-in any of the assets in my portfolio (which can be expensive), my investments are still growing and valued at $500,000+, I own the property outright and only have to pay $700 dollars a month in interest repayments, of course I still owe $200,000 however, I will just pay the capital when my policy matures or investments rocket or when I sell the property. My loan is only 4.20% and if you repay the capital early there are no penalties. Compare that to some mortgage rates and arrangements and if you have a PPB it may be a cost affective alternative.
Cheers
Tommy
Good luck, Getting mortgages in ASIA can be a nightmare, however, my IFA made me aware of a very handy alternative way to raise cash.
I have a Personal Portfolio Bond with Royal Skandia worth around $500,000 and my IFA arranged a interest only from a Bank in the Isle of Man using my PPB as collateral. I managed to release $200,000 from my PPB for a property purchase without having to cash-in any of the assets in my portfolio (which can be expensive), my investments are still growing and valued at $500,000+, I own the property outright and only have to pay $700 dollars a month in interest repayments, of course I still owe $200,000 however, I will just pay the capital when my policy matures or investments rocket or when I sell the property. My loan is only 4.20% and if you repay the capital early there are no penalties. Compare that to some mortgage rates and arrangements and if you have a PPB it may be a cost affective alternative.
Cheers
Tommy
Mar 27th 2008, 4:03 pm
#3
still pat
Joined: Mar 2008
Location: Newtownabbey, County Antrim
Posts: 13
Re: Mortgage for Malaysia, without MM2H?
Hello,
Good luck, Getting mortgages in ASIA can be a nightmare, however, my IFA made me aware of a very handy alternative way to raise cash.
I have a Personal Portfolio Bond with Royal Skandia worth around $500,000 and my IFA arranged a interest only from a Bank in the Isle of Man using my PPB as collateral. I managed to release $200,000 from my PPB for a property purchase without having to cash-in any of the assets in my portfolio (which can be expensive), my investments are still growing and valued at $500,000+, I own the property outright and only have to pay $700 dollars a month in interest repayments, of course I still owe $200,000 however, I will just pay the capital when my policy matures or investments rocket or when I sell the property. My loan is only 4.20% and if you repay the capital early there are no penalties. Compare that to some mortgage rates and arrangements and if you have a PPB it may be a cost affective alternative.
Cheers
Tommy
Good luck, Getting mortgages in ASIA can be a nightmare, however, my IFA made me aware of a very handy alternative way to raise cash.
I have a Personal Portfolio Bond with Royal Skandia worth around $500,000 and my IFA arranged a interest only from a Bank in the Isle of Man using my PPB as collateral. I managed to release $200,000 from my PPB for a property purchase without having to cash-in any of the assets in my portfolio (which can be expensive), my investments are still growing and valued at $500,000+, I own the property outright and only have to pay $700 dollars a month in interest repayments, of course I still owe $200,000 however, I will just pay the capital when my policy matures or investments rocket or when I sell the property. My loan is only 4.20% and if you repay the capital early there are no penalties. Compare that to some mortgage rates and arrangements and if you have a PPB it may be a cost affective alternative.
Cheers
Tommy
May 21st 2008, 5:37 am
#4
Forum Regular
Joined: May 2008
Location: Currently Edinburgh, Scotland
Posts: 68
Re: Mortgage for Malaysia, without MM2H?
Hello Chaps,
As the title says - is this possible.
I have found loans available for the MM2H programme, but feel that it is geared more for folk nearing retirement, as the financial commitments are quite heavy.
I am only 30, so retirement is a ways off yet. I would however like to buy a place in KL (or nearby), for investment and/or perhaps as a holiday home, for it's a short commute from the Middle East.
I can't find any info on financing it though - is it possible to get a loan from a bank in Malaysia without being in the MM2H program. Or would I have to finance from an 'international'/offshore bank that does such loans.
Anyone have experience of this, or can point me to some links etc?
Cheers, Regards
C
As the title says - is this possible.
I have found loans available for the MM2H programme, but feel that it is geared more for folk nearing retirement, as the financial commitments are quite heavy.
I am only 30, so retirement is a ways off yet. I would however like to buy a place in KL (or nearby), for investment and/or perhaps as a holiday home, for it's a short commute from the Middle East.
I can't find any info on financing it though - is it possible to get a loan from a bank in Malaysia without being in the MM2H program. Or would I have to finance from an 'international'/offshore bank that does such loans.
Anyone have experience of this, or can point me to some links etc?
Cheers, Regards
C
and specification are too expensive to me without a Mortgage as I am not selling my house in the UK.
Anyone got any information onf "Golden Oldie" Mortgages as I am retired now - outwith MM2H initially.
