Malaysia House Mortgages for Expatriate

Expatriate looking to buy property in Malaysia will be happy to know that there are no restrictions on foreign ownership of Malaysian property, in fact residency is automatically guaranteed for property owners depending on visa status.

Malaysian banks are eager to issue mortgages to overseas citizens. Malaysian mortgages are generally issued up front and local terms are often very liberal when compared to other countries, while some people can even secure up to 85% finance.

Although recent conditions have pushed interest rates to 6.55% from about 5.55% at the start of mid 2022, Kuala Lumpur property has still seen a boom in the kind of high-end condominium development that expatriate buyers and renters demand.

As a foreigner, you are normally allowed to borrow up to 70% and in most cases, Malaysian banks are more than willing to finance your Malaysian real estate purchase. Loans are granted on the proviso that the property value is RM250,000 or more. There is no upper limit to the cost of properties that may be purchased by overseas purchasers of property in Malaysia.

For most of Banks, home loan tenure are for a maximum period of 40 years or up to age 70, whichever is earlier.

Finding a home loan in Malaysia can be complicated and confusing because of the banks increasingly competitive interest rates and aggressive marketing.

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