Mortgage Loan

source: Google

 

The housing developer where I booked a new property recently has 4 bank panels where we can apply for a mortgage loan i.e. The Native, The Bow, The Stripe and The Chain. After seeking some information from the experts in banking field (mostly my MBA classmates) and doing investigation (Mr Goog P.I) on my own, I applied for Islamic Mortgage Loan with Native, Stripe and Chain. Filling up forms for the 3 banks are quite easy...emailing supporting documents are also easy, you know things like your IC, bank statement, EPF etc. Seems quite okay. A few days later, my lawyer WhatsApp-ed me asking whether the officer of Native have mentioned that they can't process Islamic Loan for property under development. And I was like?? What?? No!!! So I'm kinda turned off already with the Native. And a couple of days later, the officer called me and explained...well, ok... and I said I won't proceed with the Native.

In another case with The Chain, officer Miss A was quite nice, she actually came down and see me in my office and explained on the process. So I'm quite happy with her service,  considering the BLR are all the same between the 3 banks so now it all came down to service. After she handing over the loan application to her credit department, a few calls were made to me asking some things like my hire purchase and ASB loans...so I obliged and provided the bank with the requested supporting documentation. She also asked me for an HR personnel contact for verification, which I also complied. The other day, I bumped into my HR personnel and she told me that the credit officer from The Chain called and asked her what does it mean by P.C.B in our salary slip. Is our huge GLC company with 28k staff the only one using that abbreviation in our payslip? Or is it a formality? I didn't get it....

The Stripe approved my loan without much hassles after 2 weeks. 

I called The Chain and ask them when are they going to approve the loan. The officer said, all application will have to go to their HQ and she wasn't sure how long the HQ will take to approve. Hmmmmm....

I have been a customer of the Stripe since I was fifteen years old and I'm very much satisfied with the services. Well,  as much as I want to try using other banks for this, I guessed I'm going to end up with The Stripe at last.

I haven't decided anything yet...

Yesterday afternoon, I received a text from the Native saying my land facility loan application has been approved! I'm stunned :) and confused. I think it is quite funny as well.