Base Lending Rates or Islamic Financing Rates are regulated by Bank Negara Malaysia and change from time to time. As a result, various financial institutions will offer different loan packages at differing interest rates.

Re-financing your home loan is usually done for two main reasons:
1. To save on interest. A lower rate can save you thousands of ringgit throughout your loan tenure.
2. To acquire additional funds. There will be times when you need some extra money to start a new business venture, or pay for your child's education or even go on a long holiday. You can extract that money from your property by re-financing.

Tip: Hire purchase loans usually have higher interest rates. Re-finance to pay off your hire purchase and save on the difference in interest!

The procedure for re-financing is similar to that of conventional mortgage applications.

Required documents:
For Salary Earners:
1. Photocopy of your identity card/ passport.
2. Photocopies of your latest three (3) months' salary slip.
3. Current loan statement.
4. Latest three (3) months bank statement.
5. Photocopies of your latest income tax return (J form) or EA form.
6. Sale and Purchase Agreement/ Deposit or booking receipt/ letter of offer from the housing developer.
7. Photocopy of the land title or previous sales and purchase agreement (if current SPA is unavailable).

For self-employed:
All the documents stated above (except for salary slip) and the following:
8. Business registration document.
9. Latest financial statements.

Contact us now to review your loan agreement and assess whether if you are eligible for re-financing.