Refinance Loan for Debt Consolidation
Leading Refinance Agency in Malaysia
Bluebricks is a refinance agency in Malaysia with over a decade of experience. We specialise in loan consolidation and rejected services, and we are committed to helping you regain control of your finances and plan for a debt-free future.
Our certified experts recognise that every financial situation is unique and will customise our services to meet your needs. They will work closely with you to assess your financial situation, create a personalised action plan, and provide guidance to ensure your loans are approved.
Streamline Your Finances with Your Home Equity
Are you juggling multiple debts and looking for a more streamlined way to manage them? Consider consolidating your credit card debts and personal loans by tapping into your home’s increased value. This approach allows you to repay a single lender and significantly reduce your repayment period.
Take This Scenario:
You have an RM100,000 credit card debt with a monthly payment of RM5,000, an RM100,000 personal loan with an RM2,500 monthly payment, and an RM400,000 home loan with a monthly payment of RM1,900. Your total monthly instalments add up to RM9,400.
By opting for refinancing, you could revise your home loan to RM650,000, with a new monthly payment of RM3,076. This strategy lowers your total monthly payments, resulting in a 67% reduction in your financial commitments.
Before proceeding, however, ensure your house has appreciated in value. For example, if a house initially valued at RM400,000 has doubled to RM800,000, you might be in a good position.
You Can Assess Your Home's Value By:
Using Online Valuation Tools
Websites like iProperty or Property Guru offer quick, approximate valuations.
Seeking Professional Advice
A property agent can provide a detailed analysis.
Checking Your Property's Age
Typically, homes over ten years old appreciate in value.
Using Online Valuation Tools
Websites like iProperty or Property Guru offer quick, approximate valuations.
Seeking Professional Advice
A property agent can provide a detailed analysis.
Checking Your Property's Age
Typically, homes over ten years old appreciate in value.
Determining Your Property's Location & Type
For example, terraced houses in Kuala Lumpur, particularly those over five years old, often see an increase in value.
Determining Your Property's Location & Type
For example, terraced houses in Kuala Lumpur, particularly those over five years old, often see an increase in value.
Assessing Your Ownership Status
This strategy is most effective for properties that are fully paid off.
Assessing Your Ownership Status
This strategy is most effective for properties that are fully paid off.
Refinance Your Housing Loan with Bluebricks
Even with strong credit scores, homeowners can face unexpected loan rejections. Bluebricks specialises in assisting borrowers to resubmit their refinance loan applications after such hurdles. We conduct an in-depth analysis of the reasons for rejection and help devise a robust action plan.
Our goal is to not only enhance your chances of approval but also to increase the potential loan amount you can secure. However, our services are exclusively available to individuals who have no outstanding legal issues or summonses impacting their credit score, as verified by CTOS records.
How Can We Help
Dealing with a loan rejection can be a disheartening experience, especially when it comes to refinancing. Our dedicated team is here to support you through this process and turn your loan rejection into a potential success story.
Expert Valuation Associates
We collaborate closely with esteemed valuation associates who may offer a higher appraisal for your property.
In-Depth Knowledge of Banking Preferences
Our expertise extends to a deep understanding of various banks' preferences and criteria. With this knowledge, we are adept at matching your profile and needs with the right financial institutions, increasing your chances of loan approval.
Financial Support for Legal & Transaction Fees
We recognise that additional costs like legal and transaction fees can be a burden. Bluebricks offers assistance with some of these expenses, making the refinancing process more accessible and less stressful for you.
Get In Touch With Our Loan Experts
Ready to explore your options? Fill out our form to discover how we can help you refinance your loan in Malaysia.
Ready to explore your options? Fill out our form to discover how we can help you refinance your loan in Malaysia.
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 and support you to get your loans approved. You will have access to a wide range of loans, even if banks or lenders have rejected you. Our goal is to offer advice that helps ensure your loan applications are successful and not subject to rejection.
Over 10 Years of Experience
We will navigate through all situations alongside our clients, managing payments and resolving any issues that arise. Our solutions reflect insights gained from years of experience and are supported by a range of supplementary services. These include loan and credit solutions, consultancy on real estate financing, and technology responses for asset management.
One-Stop Solution
We offer comprehensive loan services, acting as a one-stop solution for our clients, where we compile a variety of loan options from lenders for your consideration. All you need to do is provide us with the necessary documentation, including your income statement, assets and liabilities, employment record, and credit history. We will manage your collateral and documentation to facilitate loan approval.
Full Financing with 100% Bank Loans
We understand that financial accessibility is key, which is why we offer 100% bank loan availability. This unique opportunity is perfect if you are in need of complete financial support, providing an accessible path to your goals while also helping you build a positive credit history.
No Upfront Payment Required
We believe in easing your financial journey from the start. With our no upfront payment policy, you can embark on your investment without any initial financial strain, not only reducing your immediate burden but also reflecting our commitment to your satisfaction and trust in our services.
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Refinance Loan for Debt Consolidation – FAQs
Yes, in Malaysia, you can use a refinance loan for debt consolidation. Refinancing involves taking out a new loan to pay off one or more existing loans, and it can be a viable strategy for consolidating various types of debt.
Using a refinance loan for debt consolidation in Malaysia can be worth considering, but it depends on your individual financial situation and the terms of the refinance loan.
Here are some factors to consider:
- Long-Term Costs: While monthly payments might be lower, extending the loan term can mean paying more in total interest over the life of the loan.
- Secured vs Unsecured Debt: If you're using property to secure the refinance loan, you risk losing the property if you default on the loan.
- Fees and Penalties: Refinancing can involve various fees, such as processing fees, legal fees, and possibly prepayment penalties on your existing debts. These costs can add up and should be factored into your decision.
In Malaysia, obtaining another refinance loan for debt consolidation when you already have one is possible, but it comes with certain conditions and considerations:
- Equity in Property: If your property's value has increased or you've paid down a significant portion of the mortgage, you might have enough equity to secure another refinance loan.
- Lender's Assessment: Lenders will thoroughly assess your financial situation, including your income, employment stability, credit score, and debt-to-income ratio.
Your ability to service the new loan in addition to your existing financial obligations will be a key factor in their decision. - Debt-to-Income Ratio: If your existing refinance loan and other debts take up a large portion of your income, lenders might be hesitant to offer another loan due to the increased risk of default.
