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Guys/ Girls, Just to check with everyone here in Propsocial. I have receive several friends complaining to me about the Empire Damansara Loan Approval! Based on what I know, the banks are not giving out loan to this and has some hidden agenda behind. Anyone know more about it? My friends are all overqualified for the loans and doesn't have any bad records.


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@JLean

there are many factor that can affect one person from having their loan approval. probably he can approach loanstreet or other mortgage agent to assist him/her on his/her banking matters... as each bank look into different loan approval while following BNM ruling.

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Overqualified in term of? 

Some reasons may affect the loan approval:
1) Borrower background and credit history 2) Developer issues 3) Bank own agenda - such as tightening loan approval. and etc.

Usually the mortgage consultants will know some the reasons why the loan has been rejected. Just ask them to find out further. 

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Thank for the reply, Ronald and Ngoi. My friend a He has no problem with the loan actually. Clean good track record. Just that he got rejected due to Some issue, that's what the bank mentioned. Bank also say that his profile has no problem at all.

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Then the problem might be due to "developer issues"....

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@JLean oh... there are some customer with clean record but bank is categorizing them as "non economic proof job" or some occupation as high risk job that they do not grant loan easily nowadays too

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also some bank might blacklist some developer due to their past record.... 

e.g. there are many bank that will not grant bank loan for property belongs to talam corporation in year 2004 to 2006 (not all but some bank will tell you upfront)

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Alright Ronald. Thank you so much for feeding me so much info. =)


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@imronaldsoo and @ppnnkk2011 is always so informative ! got something from this thread :D 

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My friend is looking to rent a unit there, Empire damansara Studio as he is temporary based there so it will be more convenient for him to get to work. What's the rate for the studio there? RM1100-Rm1300?

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@JohnL website can get many listings already. can get agent also

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@6011_3531_5354 Yea, agreed with you but getting a listing versus getting the place out for people to rent makes a big difference. Saw many listings, but if I able to see so many listings, means there's a number of volume of people can't get the place rented too. =(

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@JohnL 

Too many listing... might be same unit listed twice from different agents?

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@domng You may be right though but browse through the photos taken, seems like different units as different background and furniture available in it.

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@Nic. Must actively promote our properties sometimes. We know best of our requirements. If need to be low profile, suggest to engage agents. 

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True that you have to update the photos of the units and description of it from time to time as there are many developments going on around the area and We can either cut it short by providing what's the foodie nice around there, transportation available, amenities and etc to keep it useful.


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@JohnL 

Yes agree to provide as much information about nearby facilities and ongoing businesses.

By the way, do you think the design of the on-site banner plays a better role in promoting our property? or do you think a great location practically sells itself to any potential tenant.