• Like
Malaysia Home Loan
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

Malaysia Home Loan

  • 2,188 views
Published

Malaysia home loan and Malaysia Property guide to home and housing loans in Malaysia, offering all banks in Malaysia!

Malaysia home loan and Malaysia Property guide to home and housing loans in Malaysia, offering all banks in Malaysia!

Published in Economy & Finance , Business
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
2,188
On SlideShare
0
From Embeds
0
Number of Embeds
1

Actions

Shares
Downloads
22
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. HOW WELL DO YOU KNOW GUARANTOR METHODOLOGY AND REGULATIONS?
    Malaysia Home Loan
    http://malaysialoan.com.my/category/malaysia-home-loan/
    Malaysia Home Loan: Guarantors
  • 2. What is a Guarantor?
    Person who agrees to indemnify the holder of a loan all (borrower) or a portion of the unpaid principal balance in case of default by the borrower.
    Guarantor
    Financial Institution
    Borrower
    Borrows
    Money to
  • 3. Being a Guarantor?
  • 4. Liabilities of a Guarantor
    Be held liable for liabilities of a borrower in accordance to the contract.
    Be requested to pay only if borrower defaults payment and financial institution calls upon the guarantor.
    The extent of the liability of a guarantor will be as specified in the guarantee document.
  • 5. Action Limitations
    Guarantor Discharges
    No action taken to the guarantor until a demand for action under the guarantee has been made.
    A demand may be served by hand, post or courier.
    Financial institution has 6 years from the date of first demand to take legal action against guarantor.
    After full payment of debt, including taxes and interests.
    Terms of guarantee has to be adhered to by the financial institution to enforce guarantee against the guarantor.
    Guarantor Limitations
  • 6. Common Problems
    Legal terminology too difficult to understand.Solution: Seek legal advise/consult banking officer.
    Questioning liability for increase financial facilities.Cannot happen without guarantor’s consent.
    Signature witnessing: Who should be?Financial officer, spouses are not allowed without independent advise.
    Bankruptcy: Can I be made if borrower defaults payments?Yes.
    Death of the borrower. Is the guarantor discharged?No. If the borrower cannot finish paying, the guarantor bears the cost.
  • 7. TOPIC: MALAYSIA HOME LOAN GUARANTORS
    Home Loans
    http://malaysialoan.com.my/
    Thank you