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Hi all, 

I have a question on refinancing, although I'm not sure whether this is the term I shall use here. But below is my current situation, hope anyone will such knowledge could tell me what could I do next. Thanks in advance.


I have joint-name with my friend - property-A in KL which currently worth close to RM 1m and loan already settled. I also have another property-B which joint-name with my cousin & currently paying Interest (since the property-B still under construction & only ready by 2019). So now, I'm interested in another property-C but I'm no longer working (semi-retired, just playing some stock trading) now. Since i'm not working anymore, I can't get bank loan. Therefore it came across my mind that refinancing existing property-A to purchase property-C. 

1. I'm not working anymore. I'm 31yo. No income or whatsoever. Just stock trading. 

2. I have a joint-name property-A (with my friend) which the loan already settled 1 year ago from today.

3. I also have another joint-name property-B (with my cousin) which currently is paying bank loan-interest of RM 4xx per month until completion in 2019.

Now, if i want to purchase property-C by refinancing property-A, with all conditions I have above, is it workable to get a bank loan?

Anyone knows?


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Any fixed / variable income such as rental? dividend from share? business?

To obtain mortgage loan, it required income document to prove that you are still earning monthly income which can payoff your monthly installment. If not guarantor is required for refinance your existing property. 

You may consider to joint loan with your family and relative which still earning regular salary.

You may PM me your contact for further discussion.

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I don't think is good idea to pledge property A to buy C. Just start build out your earning capabilities to get a loan. Age 31 years you still can get max loan tenure like 35 . Create stream of income monthly like salary, rental or dividend prior to the application. Shows evidence of it at least 3 months :-) 

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agreed with you. increase yr income is good way instead of purely refinancing to buy a new one.

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the thing is, I plan to retired. not to work. 

since it is unworkable, i guess i will just forget it. kekeke. 

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Thanks guys for the replies.

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Unlike before, even with refinancing, banks require proof of income....at least from the banks that I know.

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yes, correct. bank prefers stable regular income, lower risk for them.

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@nicky_esh thanks for sharing