INSURANCE | Mortgage | ING Malaysia

Online Applications Available!
1 Hours Pre-Assessment & 3 Working Days to get Letter Of Offer*

ING Home Loan-Mortgage Agents Malaysia 4.85% Fixed Rate For Life! No BLR, No worries!
Call or sms Contact and Loan Amount to
+6012 233 8369 or +6012 207 5570
apply@inghomeloan.info

Steps to Getting a ING Home Loan in Malaysia

Having decided to commit yourself to buying a house, next is to scout around for the financing for the house.
Things to note when looking for a loan
Rates
Flexibility in terms of the early repayment, changes to loan structure
The standard of service provided

Assessing your needs
Loan amount required
Loan tenure
Monthly instalment

Requirements for eligibility
Must be a Malaysian or Malaysian permanent resident in of at least 21 years of age
Must not be a bankrupt or currently sued by any other party
Income and creditworthiness

For fast approval, please bring along the original and photocopy of the following documents

Property Documents / Info
A copy of Sales & Purchase Agreement (original to be submitted to the lawyers upon loan acceptance)
A copy of Land Title (compulsory for completed properties)
Certificate of Fitness for completed properties purchased directly from the developer

For refinancing cases (if applicable)
Latest Loan Statement 12 months

Personal Documents / Info

2 copies IC (both sides in one page)
2 copies Passport & work permit (for foreigners)

Financial Documents / Info

For Employed
6 months pay slips of 6 months commission statement
6 months - Bank statements (for pay credited into account)
Latest 1 year – EA form
Latest 1 year - BE form
1 year - KWSP / EPF Statements
EA Form from previous employer (for change of employment)
Letter of appointment (for newly employed)

For Self Employed
Latest 1 year - B form
Latest 2 years - Audited Accounts / Trading Accounts
Form 24 & 49 & Comapony Registration
Business Registration Form (A/D)
6 months - Bank Statements (personal account)
12 months - Bank Statements (company account)

Acceptance of loan applications
Upon acceptance of the home loan application , you will receive a letter of offer and the bank’s lawyer will prepare the necessary loan documentation. You will be notified to sign the documents once they are ready and you will be required to pay the legal fees, stamp duty, disbursement, insurance premium and valuation charges (if any). Lastly once this documentation is completed, the bank will release the loan and pay the seller/developer in accordance with the terms of the SPA.

Download Application Form

ING (malaysia) home loan rate

Online Applications Available!
1 Hours Pre-Assessment & 3 Working Days to get Letter Of Offer*

ING Home Loan-Mortgage Agents Malaysia 4.85% Fixed Rate For Life! No BLR, No worries!
Call or sms Contact and Loan Amount to
+6012 233 8369 or +6012 207 5570
apply@inghomeloan.info

How to Get ING Home Loans Fixed Rate ?

Frequently Asked Questions

Q : How long to take for processing my application?
A : Pre-assessment is 1 Hour & 3 working days with completed documents.

Q : I am interested in a property that is outside the Klang Valley/Selangor. Is it eligible under ING Home Loan?
A : ING Home Loan is able to finance residential properties in selected locations in Malaysia. It is preferred that these properties are in selected areas of Klang Valley, Ipoh, Penang, Seremban, Malacca, Johor Bahru, Kuching and Kota Kinabalu.

Q : What margin of finance is available?
A :
i. Completed Under construction
ii. Landed properties ie.terrace house, bungalows, etc. Up to 90% * Up to 90% *
iii. Non landed properties ie. Condominiums, apartments, etc. Up to 90% * Up to 80% *
* Subject to fulfilment of credit underwriting guidelines

Q : How much is the loan processing fee?
A : This is waived for all loan applications.

Q : Is there a minimum loan sum? Please clarify.
A : Minimum loan sum for each application is currently RM100,000. The minimum open market value of the property to be financed must be at least RM125,000.
A : Minimum loan sum for each special package is RM200,000.

Q : Is ING Home Loan a special “package” for agents / policyholders?
A : No. It is available to all who are eligible. The applicant need not be a policyholder/agent to qualify.

Q : What is the ING Home Loan all about?
A : It is a fixed Rate Housing Loan provided by ING Insurance Berhad. The interest rate is truly fixed for the whole duration of the loan.

Q : How can I benefit from it?
A : ING Home Loan can be used to part finance purchase of a completed or under construction residential property. You can also use ING Home Loan to refinance your existing housing loan from any financial institution.

Q : How does refinancing work?
A : You have an existing housing loan with another financial institution. We are able to extend a loan of up to 90% of the property’s open market value to firstly, settle all outstanding amount with the said financial institution, and thereafter, the balance (if any) will be given to you for renovation, children’s education, etc.

Q : What type of property must I have? Is it applicable for uncompleted properties?
A : We are able to finance all types of residential properties. The property may be completed or even under construction (as per ING’s list). Please call 012 233 8369 for details of the under construction list.

Q : What interest rate is applicable?
A : The interest rate can be as low as 5.75% per annum, depending on the type of property, location, construction risk and whether fees are borne by the customer. Please call 012 233 8369 for the latest interest rate.

Q : How do I qualify?
A : The general guideline is the installment must be within 50% of your monthly income.

Q : What is the installment like?
A : It is dependent upon the loan amount, loan tenure and interest rates.

Q : What do you mean by fixed rate?
A : It means that the interest rate charged on your loan will not change over the duration of the loan.

Q : How many years can I borrow?
A : As long as 30 years or up to age 65 on loan maturity whichever is earlier. The average age of the applicants servicing the loan is taken for applications with more than one applicant.

Q : Do I need to purchase any insurance?
A : As part of the loan requirement, the applicant will have to purchase ING’s Group Mortgage Decreasing Term Assurance (MDTA) or the ING Life policy that matches the loan. In addition, the property must be protected by ING’s Houseowners Insurance.

Q : What are these two insurances?
A : The ING Group Mortgage Decreasing Term Assurance (MDTA) is a policy that pays off the outstanding principal loan in the unfortunate event of death or total permanent disability. This policy ensures your family will not be left to shoulder the burden of servicing the loan repayments. You only pay the premium once before the loan is released.

Our Houseowner Policy protects your home from fire and other perils. You may also choose to insure the household contents under our Householder’s Insurance available at competitive rates.

Q : What is the premium for the MDTA / MRTA ?
A : It is dependent upon the loan amount, loan tenure, construction period and interest rate, age and health condition of the applicant(s).

Q : Tell me more about the life policy.
A : You may take up ING’s life or term policy that covers death and total permanent disability. The policy must be absolutely assigned to us and at least match the loan amount, loan term and construction period.

Q : What about prepayment?
A : Prepayment in part or in whole is permitted at any time during the duration of the loan. However prepayment in whole (full settlement) as a result of refinancing before the first five years from the first disbursement of the loan is subject to a penalty of 0.35% per annum on the amount prepaid and the remaining loan term. Thereafter, no penalty is charged. Refinancing is an act of transferring your loan out of ING to another institution.

Q : Will I receive any rebate should I prepay?
A : There is no physical refund as “rebate” is given to the borrower in the form of reduced interest costs. After the required notice given, interest on the loan will be recalculated on the following month based on the reduced loan balance, which translates to a shorter loan period since monthly loan installments remain the same after prepayment.

Q : What about legal fees?
A : The applicant has a choice of paying all legal fees and charges incurred for the loan documentation or allowing ING to pay. Should ING bear the legal fees and charges incurred for the loan documentation as well as the valuation report fee, an additional 0.4% per annum is added to the prevailing interest rate.

Q : Can I appoint my own lawyers?
A : The lawyers must be those within the Mortgage Division’s panel of lawyers to handle the loan documentation. There is no restriction on the lawyers for the sale & purchase agreement.

Download Application Form

Enlisting developer
in ING’s Panel of Developers

1. At least 2 commercial bank providing End Financing facility.

2. Paid up capital of at least RM1 million.

3. Preferably, the project has a Bridging Financing facility from a Financial Institution.

4. Management of the company has at least 5 years of satisfactory track record in project development experience.

5. Project to be end financed is located in the identified location as listed in the Credit Guidelines and duly assessed by the Property Division.

6. Submit at least latest 2 years of audited financial statements showing profitability track records and positive net worth.

7. The following documents are to be submitted.

i) Form 24 & Form 49 (compulsory)

ii) Project Brochure (compulsory)

iii) Project write-up and management profile (compulsory)

8. To arrange for a meeting between Mortgage Division and the developer upon fulfilling all the above conditions (compulsory).

CALL or SMS +6012 233 8369

Contact Us

HOUSING LOAN MRTA CALCULATOR

MRTA- MDTA CALCULATOR

How to Refund Mrta Premium?

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Download Application Form

ING Mortgage Protection Plan (IMPP)

coverage for the 35 critical illnesses

FEAUTURES
The ING Mortgage Protection Plan (IMPP) is a mortgage reducing term assurance plan with coverage for the 35 critical illnesses. This plan is targeted at home loan owners who wish to have the peace of mind that comes witH added critical illness protection for their assets should the unfortunate happen. The regular premium payment plan is further designed to help ease the burden of high upfront cost involved in purchasing a house.

BENEFITS
1) Life Protection
2) Total Permanent Disability Coverage
3) Critical Illness Coverage
4) Flexible Plan Durations
5) Regular Premium Payment Option
6) Interim Coverage Period (For uncompleted properties only)
7) 24-hour Worldwide

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BAHASA MALAYSIA

CHINESE

Contact Us +6012 233 8369