What is the highest percentage of loan obtained for property purchase?

  • Up to 90% for bank loan application (subject to terms and conditions)
  • Up to 100% for government loan application (subject to terms and conditions)
  • Up to 100% for Skim Perumahan Belia (subject to terms and conditions)

Are there any charges other than the property purchase price?

  • Yes, there are late payment interest charges (when there is an overdue invoice) and miscellaneous charges such as quit rent, assessment fee, Form I and etcetera.

How can I avoid late payment interest charges?

  • Always provide your up-to-date correspondence address, contact number and email to the developer.
  • Ensure the differential sum is paid on time without any delay and promptly follow up with the financier for the loan release.

If the financier delays the payment, will the interest be charged to the purchaser?

  • For all overdue progressive billings, the interest will be charged to the purchaser as per sales and purchase agreement (SPA). Therefore please follow up with financier until the payment release to developer

Are the legal fees borne by the developer or purchaser?

  • Only legal fees for SPA will be borne by the developer, stamping fees and disbursement fees for Memorandum of Transfer (MOT) process will be borne by purchaser.

How much can I withdraw from my KWSP Account 2?

  • You can withdraw a minimum of 10% and up to 20% of the property purchase price from your KWSP Account 2.
  • You can withdraw up to 10% of the total selling price and up to 10% for renovation purpose.

Can my spouse withdraw his or her KWSP Account 2 to make payment for my property?

  • A person can only withdraw from KWSP Account 2 if his/her name is stated in the property’s SPA.

How long is the defects liability period for my property?

  • Under Construction Project :     24 months from the date of Delivery of Vacant Possession Date
  • Completed Project :     No defects warranty as what you see is what you get

Source of Information:

  • Employees Provident Fund (KWSP)
  • National House Buyers Organisation


Disclaimer: Above depicts the general process of home purchase, different developer or projects may have a different process. All data and information is correct at time of upload.