Foreigners wishing to borrow money to buy property will usually only be able to obtain financing in Malaysia. Financial institutions outside Malaysia do not usually lend money to buy individual residential properties in Malaysia.
Generally Malaysian banks will only give loans to foreigners who are working in Malaysia and have a valid work permit. We are in the process of approaching various financial institutions to determine which banks would be willing to lend to non resident foreigners or people who have retired here under the Malaysia My Second Home programme.
For foreigners with valid work permits the maximum loan is usually 60% of the selling price. It is usually easiest to get financing for new developments as the developers will have arranged with selected banks to offer loans to their purchasers including foreigners.
1 comment:
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Warehouse Leasing
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