All you want to know about... MAA MOTORCLUB MEMBER 

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MAA Housing Loan

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DETAILS OF MAA HOUSING LOAN

For details, please call Ms Nuryina at 03-2146 8221 or En. Madzelan Yaacob at 03-2146 8692

PURPOSE OF THE LOAN

The loan can be granted for the following purposes only:

  • To finance the purchase of property

  • To refinance the property and/or for personal investment

WHO CAN APPLY FOR THE LOAN

The loan is extended to all MAA MOTORCLUB MEMBERS.

 

TYPE OF PROPERTY

The loan can be granted for the purpose of financing or refinancing and/or for personal investment secured by the following types of property only:

  • Houses

  • Condominiums / Apartments / Flats

  • Commercial Lots

MARGIN OF LOAN AMOUNT

  • Residential: up to 90% of the purchase price or market value of the property whichever is lower.

  • Commercial: up to 70% of the purchase price or market value of the property whichever is lower.

INTEREST RATE

 
  • Houses
 Less than RM 250,000

RM 250,001 to RM 500,000

RM 500,001 to RM 1 million

 - 8.5% p.a. fixed

- 9.0% p.a. fixed

- 9.5% p.a. fixed
  • Condominiums / Apartments / Flats
 Less than RM 250,000

RM 250,001 to RM 500,000

RM 500,001 to RM 1 million

 - 8.5% p.a. fixed

- 10.0% p.a. fixed

- 11.0% p.a. fixed
  • Commercial Lots
 Less than RM 500,000

RM 500,001 to RM 1 million

More than RM 1 million

 - 10.0% p.a. fixed

- 11.0% p.a. fixed

- 12.0% p.a. fixed
MAXIMUM LOAN PERIOD

  • Houses / Condominiums / Apartments / Flats - 40 years or reaching the age of 65 years.

  • Commercial Lots - 20 years or reaching the age of 65 years.
VALUATION REPORT

The property must be valued by one of our panel valuers (except for property purchased directly from the developer) and the cost for the valuation report is to be borne by the borrower.  The panel of valuers are:

  • CH Williams, Talhar & Wong     Tel: 03-26938888

  • Rahim & Co     Tel: 03-26919922

  • WM Malik Kamarulzaman     Tel: 03-26985522

  • Khong & Jaafar     Tel: 03-22829699

  • Colliers, Jordon Lee & Jaafar     Tel: 03-20955811

  • Jones Lang Wotton     Tel: 03-21612522
DOCUMENTS REQUIRED FOR PROCESSING

  • Completed Mortgage Loan Application Form

  • Copies of applicant's Identity Card

  • Salary slip / salary confirmation from employer

  • Last 3 years' Form J / EA form

  • Latest Bank Statement / FD Statement / Savings Account Book

  • Valuation Report (if applicable)

  • Latest Quit Rent & Assessment (if applicable)

  • Copy of Sales & Purchase Agreement

  • Copy of Title Deed (if any)
 

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