WHAT IS REFINANCING LOAN
Refinancing is especially for borrowers who have properties loan but looking for more cash and aiming for better terms and easier repayments. It is made possible because price of the properties have risen or that they have repaid a big portion of their debts.
Borrowers can apply for excess cash payout, based on the market value of the real estate and the existing loan outstanding amount. In financial term, it means that you can use your property to get emergency cash. This cash out is usually for a short period of time.
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Refinancing is easier to get approval, because of the lower risk to the lender. The loan amount is dependable on the market value of the property. If you are unable to pay back the installment, the lender after having exhausted all avenues of claim, can execute the SPA to sell the properties to claim back the outstanding money.
Requirements for this loan
Most preferable properties are fully-paid, besides the land title must not be Malay Reserved Land, but preferably are Freehold Lands. The lender will usually compare the current value against the outstanding loan amount. If there is any excess cash, the lender may only give a portion of the amount as temporary refinancing loan amount.
However, the differential amount must be substantial. Or else it may not worth to refinance and get the cash out.
Who are we?
We are a licensed money lender with years of experience in this type of loan and are staffed with professional personnel to advise clients on the best value and terms for their loan, so do not hesitate to call us in time of needs.
We provide services in and around Johore especially Yong Peng, Mersing, Simpang Renggam, Bukit Gambir, Skudai, Iskandar Puteri, Kota Tinggi, Pontian, Segamat, Bandar Tangkak,
Johor Bahru, Batu Pahat, Muar, Kluang, Bandar Kulai, Pasir Gudang.
Conclusion
Call us if you have any queries not just for refinancing loan, but also cheque cashing and SME business loan.You may also look-out for our Personal Loan, caveat loan and debt consolidation loan.