A Mortgage Consultant in Malaysia You Can Trust

Bluebricks is a mortgage company in Malaysia with years of experience. Our mortgage brokers have the knowledge to help customers find and apply for a mortgage loan that suits their circumstances.

What is a Mortgage Loan?

A mortgage is a loan that uses land or immovable assets (e.g. house) as security. The borrower signs an agreement with the lender (usually a bank or financial institution) to collect cash in advance and will then repay the loan over a specified period until the lender is paid back in full.
A mortgage loan is mainly used to purchase a house; therefore, a mortgage is often referred to as a home or housing loan.

Who Can Apply For A Mortgage Loan?

Mortgage loans are designed for home buyers with insufficient cash on hand to purchase a property. Individuals and businesses can use the loan to purchase more properties without paying the entire purchase price upfront.
There are several types of mortgage loans, and buyers should understand which is best for them. Many mortgages can be as short as 5 years; some can be extended to 35 years or until the borrower turns 70 years old, whichever is earlier. The most traditional mortgages are fixed for 15 and 30 years.

Fixed Interest Rate

A fixed-rate mortgage has an interest rate that remains the same for the life of the loan. The changes in the market interest rate will not impact the borrower’s existing loan. However, if the interest rate drops significantly, it is advisable to refinance the loan to enjoy the lower interest rate.

What Is Mortgage Refinancing?

Refinancing your mortgage is a process where you change your current mortgage with one with newer and better features. Examples include such as lower interest rates and monthly payments.

Benefits of Mortgage Refinancing

Save On Your Interest Cost

Refinancing your current mortgage loan can help you save money. With a lower interest rate, you can settle other high-interest debt, add to your savings account or put more money toward retirement.

Change in Loan Tenure

With a mortgage refinancing, you can change the tenure of the loan according to your needs. For example, if you have an increase in your income, you can opt for shorter loan tenure to pay off the mortgage faster through a higher instalment amount.

Cash Flow Adjustments

A mortgage refinancing can reduce your monthly commitment. With lesser monthly expenses, you will be able to manage your cash flows better and have more money for your daily expenses.

Reasons Your Loan Was Rejected

Banks have their own criteria for any loan application, and being employed is one of them. This is because your income indicates if you are capable of repaying the loan.

If you fail to prove that you are employed or are producing enough income to repay the loan, the bank will automatically reject your loan application.
Even if you have proven that you are employed, any changes to your income can also affect your application. For example, although your credit score does not indicate your current income level, banks will require you to disclose the information for further assessment. Your application will be rejected if your salary does not meet the bank's requirements.
The bank will access your track records, including late or overdue transactions and your monthly balance. They will use this information to assess your credit risk and determine whether you are a trustworthy borrower.
Some of us may not have credit cards or other financial commitments as we are too worried about spending. However, this does not help when it comes to a loan application. This is because the bank does not have enough information to decide if you are a good paymaster or vice versa.

Why Bluebricks?

Licensed Loan Brokerage In Malaysia

We act as your loan agents and represent not only individuals but also businesses. As technical financial advisors, we work with various borrowers to get your loans approved. You will have access to a wide range of loans, even if you were rejected by a bank or lender. Our services are designed to ensure your loan application is approved.

10 Years of Experience

We are there for our customers no matter the issue, handling the payment process and smoothing any bumps along the way. Our solutions have been developed from our knowledge gained over our decade of experiences, such as loan and credit solutions, consultancy on real estate financing, conveyance, and asset technology response.

One-Stop Solution

We provide an all-inclusive collateral service and act as a one-stop solution for clients. All clients need to do is to provide us with relevant documentation, such as their income statement, assets and liabilities, employment record, and credit history. We will handle your collateral and your documents for loan approval.

Mortgage Loans – FAQ

A mortgage loan is used to purchase or maintain a home, land, or other types of real estate. A borrower must ensure that they meet the requirements for a mortgage loan, including minimum credit scores and down payments.
A mortgage broker helps borrowers find a lender with the best terms and rates that meets their financial needs.

Here is how you can choose a mortgage broker:

  • Ensure you understand what a mortgage broker does.
  • Ask for referrals from friends, relatives, and business acquaintances.
  • Have a look at online reviews and check for complaints.
  • Ask a mortgage specialist about their experience, services, and fees.
During a mortgage consultation, the lender would want to know if you can afford the mortgage repayments. Therefore, they will ask you about your income and expenses.

They are also likely to ask about outstanding and ongoing payments, including credit card and loan balances.
A home loan provides funding to help you upgrade, construct, or buy a residential property. On the other hand, mortgage loans have no restrictions on how the borrower can use the loan amount.
When you refinance your mortgage loan, your credit score will decline temporarily. This is because you are taking on a new loan and have not proven your ability to repay it.

However, your credit score will return to where it was in a few months, as long as you make your payments on time.

Learn How We Get Your Loan Approved