Mortgage broker with experience in the Malaysian market needed

Discussion in 'Property Finance' started by jerrybee, 15th Jun, 2015.

  1. jerrybee

    jerrybee Member

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    This is a long shot but I thought I would try anyway.

    Someone I know has gotten into hot water with his loan, he is Malaysian and lives there too. His education level is very low so he's depending on friends and family to help get him out of this bind. I believe he needs a refinance but no one knows how to begin helping him and especially with navigating a foreign lending system. Even if we could find someone locally** to help him, we'd still like someone on the ground here that we can trust and speaks English to consult and help coordinate things. I don't think there are trailing commissions involved so we'd be happy to pay a pre-negotiated fee, which would obviously include some level of compensation even if you aren't successful. Can anyone here help or recommend someone that can?


    **As I understand it, mortgage brokering is not an industry that even exists in many countries. Anyone know if it's even an occupation / industry in Malaysia?
     
  2. Peter_Tersteeg

    Peter_Tersteeg Finance broker/strategist

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    Is the property and loan in Malaysia or Australia?

    It's possible to help if it's all in Australia but I doubt you'll find many brokers here to help with a Malaysian loan.

    I have a couple of clients with property in Malaysia, it might be possible to ask them for some direction here.
     
  3. en_

    en_ Member

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    You usually deal directly with the banks in Malaysia, each bank will have their team of mortgage lenders/ advisors.

    Generally, expats will stay with international banks i.e. HSBC, Citibank

    Locals will usually go with the local banks i.e. CIMB or Maybank

    If it's purely rates, then local banks usually offers a bigger discount from published rates.

    https://www.imoney.my/home-loan

    If your friend is Malaysian, he can just walk into the bigger branches and people are mostly multilingual anyways.
     
  4. jerrybee

    jerrybee Member

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    Loan, property and person are all in Malaysia.
     
  5. jerrybee

    jerrybee Member

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    Are interest only loans a thing in Malaysia for PPOR's or is that more of an Aussie specific financial product? I'm thinking this might help him get by till his finances improve.
     
  6. en_

    en_ Member

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    IO is available. (Last took a loan in 2011 and I am not a banker)

    Think it was in one of the clauses, interest only period for change in financial circumstances etc
     
  7. jerrybee

    jerrybee Member

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    Are there any oddities or traps to look out for when choosing a lender in Malaysia?
     
  8. Redwood

    Redwood Member

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    I have a Malaysian Broker that works with me - credit rep here in oz with a ton of experience in Malaysia, let me know if you would like his contact details by pm. Certain he can assist.

    Cheers Ivan
     
  9. Redwood

    Redwood Member

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    Whoops....deleted post.
     
    Last edited: 16th Jun, 2015
  10. Melbournian

    Melbournian Member

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    what is your involvement if everything is in malaysia?

    just go to the banks like HSBC, maybank etc. majority of people in malaysia speak a number of languages. And there will be people in the bank that will cover the landscape of languages so shouldn't be problem.

    If you are getting a mortgage broker from here (it is very different) compared to malaysia.