Yew Huoi, How & Associates | Leading Malaysia Law Firm

Menu

LOAN APPLICATION – DEBT SERVICE RATIO (DSR) – CREDIT TRUST

How do I improve my chances of getting housing loan from the banks?

There are many factors bank will consider when giving a loan. Here are the steps:

  1.  Start building credit trust by applying for credit card or car loan.
  2. Ensure that your credit card bills, car loan etc are paid on time.
  3. Reduce your debt service ratio (DSR) rating based on this formula:
  4. Reduce your DSR to 80 or below by either reducing monthly debt payments or increase your net income. Depending on the banks you are applying to, some banks only accept DSR 50 or below.
  5. Monthly debt payments can be reduced by :
    • Negotiating with your creditors for alternative payment plans for lesser month payment;
    • Refinancing of property to extend the tenure of repayment;
    • Consolidate your outstanding debt; or
    • Balance transfer of your credit card debt.
  6. Increase your net income
    • Part time job; or
    • Rental of your unoccupied premises.

Every bank maintains its own distinctive policy for loan approval. If you have any difficulty in applying for housing loan or needing help to apply for loan, please do not hesitate to log on to our website by clicking here at YHA Law – Loan Application.

Send us your details and we will get our professional mortgage specialist to understand your needs and apply loan for you.

Back to Latest Legal Updates

Recent Post

NAVIGATION AND SHIPPING LAW – COLLISION REGULATIONS – COLLISION AT SEA – A WAKE-UP CALL FOR ADHERING TO NAVIGATION RULES

The collision between the FMG Sydney and MSC Apollo highlights the critical importance of adhering to established navigation rules. Deviations, delayed actions, and reliance on radio communications instead of clear, early maneuvers can lead to disastrous outcomes. This case serves as a stark reminder for mariners: follow the rules, act decisively, and prioritize safety above assumptions.

Read More »
12 January ,2025 No Comments

SHIPPING AND ADMIRALTY IN REM – A SINKING ASSET – COURT ORDERS SALE OF ARRESTED VESSEL TO PRESERVE CLAIM SECURITY

In a landmark admiralty decision, the High Court ordered the pendente lite sale of the arrested vessel Shi Pu 1, emphasizing the principle of preserving claim security over the defendant’s financial incapacity. The court ruled that the vessel, deemed a “wasting asset,” could not remain under arrest indefinitely without proper maintenance or security. This case reinforces the necessity for shipowners to manage arrested assets proactively to prevent significant financial and legal repercussions.

Read More »
12 January ,2025 No Comments

EMPLOYMENT LAW – IS DIRECTOR A DIRECTOR OR EMPLOYEE? UNPACKING DUAL ROLES IN EMPLOYMENT LAW

The Court of Appeal clarified the dual roles of directors as both shareholders and employees, affirming that executive directors can qualify as “workmen” under the Industrial Relations Act 1967. The decision emphasizes that removal as a director does not equate to lawful dismissal as an employee unless due process is followed. This case highlights the importance of distinguishing shareholder rights from employment protections, ensuring companies navigate such disputes with clarity and fairness.

Read More »
12 January ,2025 No Comments

COMMERCIAL CONTRACT – FORCE MAJEURE OR JUST EXCUSES? LESSONS FROM LITASCO V DER MOND OIL [2024] 2 LLOYD’S REP 593

The recent decision in Litasco SA v Der Mond Oil and Gas Africa SA [2024] 2 Lloyd’s Rep 593 highlights the strict thresholds required to invoke defences such as force majeure and trade sanctions in commercial disputes. The English Commercial Court dismissed claims of misrepresentation and found that banking restrictions and sanctions did not excuse payment obligations under the crude oil contract. This judgment reinforces the importance of precise contractual drafting and credible evidence in defending against payment claims, serving as a cautionary tale for businesses navigating international trade and legal obligations.

Read More »
1 January ,2025 No Comments

SHIPPING – LETTER OF CREDIT – LESSONS FROM UNICREDIT’S FRAUD CLAIM AGAINST GLENCORE

The Singapore Court of Appeal’s decision in Unicredit Bank AG v Glencore Singapore Pte Ltd [2024] 2 Lloyd’s Rep 624 reaffirms the principle of autonomy in letters of credit and highlights the high evidentiary threshold for invoking the fraud exception. Unicredit’s claim of deceit was dismissed as the court found no evidence of false representations by Glencore, emphasizing that banks deal with documents, not underlying transactions. This case serves as a critical reminder for international trade practitioners to prioritize clear documentation and robust due diligence to mitigate risks in financial transactions.

Read More »
1 January ,2025 No Comments

LAND LAW – PROPERTY SOLD TWICE: OWNERSHIP NOT TRANSFERRED IN FIRST SALE

This legal update examines the Court of Appeal’s decision in Malayan Banking Bhd v Mohd Affandi bin Ahmad & Anor [2024] 1 MLJ 1, which reaffirmed the binding nature of valid Sale and Purchase Agreements (SPAs) and the establishment of constructive trust. The court dismissed claims of deferred indefeasibility by subsequent purchasers and a chargee bank, emphasizing the critical importance of due diligence in property transactions. The decision serves as a cautionary tale for financial institutions and vendors, reinforcing the need for meticulous compliance with legal and equitable obligations.

Read More »
1 January ,2025 No Comments
en_USEN
zh_TWZH ms_MYMY en_USEN
× Contact Us