Can I purchase a house under joint names and apply for the housing loan only under my name?

The financial institution will consider such applications on the merits of each case, under the following circumstances:
  • The co-owners are related as husband and wife, and one party is not working and the other party is solely responsible for the loan

  • The co-owners are related as father/mother and children, the parents are old and not working and the children will be responsible for the loan

However, the above is at the financial institution's discretion and they may also consider other circumstances.

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

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Knowledge Base ID :   1288
Last Reviewed :   May 22, 2014
Source :   BankingInfo
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