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How should I choose a housing loan from various financial institutions in Malaysia? How should I choose a mortgage?

You should shop around before you decide on any financial institution.

Remember that when you take up a housing loan, you will be dealing with the financial institution on a regular basis for a period of time. Therefore, you should also consider factors other than just lower interest rates.

Below are some of the factors you should consider:
  • How professional is the financial institution in dealing with customers?

  • Does it offer quality service in terms of efficiency and reliability?

  • What are the available loan packages and which package suits you best?

  • What are the charges involved?

    For example, legal fees, related government fees and charges, disbursement fees and others.

    You should also be informed when and how often these charges are to be paid


An innovative financial institution may offer a more suitable loan package that suits your needs and their application process may be faster and hassle-free.

It usually takes about one to two weeks for your loan application to be approved from the time you submit all relevant documentation.

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Reprinted with permission from BankingInfo (A Consumer Education Programme)


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Knowledge Base ID :   1263
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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