Do I need a guarantor for my housing loan? Advertisement  
This is at the financial institution's discretion and depends on the credit standing of the borrower.

Back to Housing Loan's Contents

  1. Guarantor - Person or entity who is legally bound to pay a debt incurred by the borrower if that borrower fails to pay.

Reprinted with permission from BankingInfo (A Consumer Education Programme by Bank Negara Malaysia)

Back to the top

Sponsored Links

Share this Page
submit to reddit

Tags   :     |    |    |    
Knowledge Base ID   :   1285
Last Review   :   May 22, 2014
Source   :   BankingInfo

Related Mortgages (Housing or Home Loans) Issues
» How should I choose a housing loan from various financial institutions in Malaysia? How should I choose a mortgage?
» How long is the grace period for payment of my monthly home loan instalment?
» Does the bank have the right to charge my home loan account for any miscellaneous charges incurred by them such as late payment charges, legal costs, insurance, etc?
» Can I make extra payments on my home loan other than the monthly contractual repayments? Should I prepay my housing loan or mortgage?
» Why does my outstanding home loan remain high at the initial stage despite the repayments made?
» Can I purchase a house under joint names and apply for the housing loan only under my name?
» What can the bank do if I do not make repayments on my home loan?
» What happens when my home loan is fully repaid or settled?
» What are the common housing loan packages offered by banks or financial institutions in Malaysia?
» If the developer abandons the housing project, am I still required to service my interest or instalment payments?

Back to the top