Loan Application Process - Hartamas Real Estate
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Loan Application Process

From application to first release.

What happens after you submit a housing loan application, who is doing it, and roughly how long each stage takes.

The process

10 steps to drawdown.

Durations are indicative and run in working days unless stated otherwise. They vary by bank, by state and by the condition of the title.

  1. 1
    3 - 4 Working Days
    Submission
    Obtained Loan Application form & all supporting document from customer
    Approval
    Update customer approval status and prepare Bank Letter Offer
  2. 2
    1 - 2 Working Days
    Bank
    Issuance of Letter Offer
  3. 3
    1 - 2 Working Days
    Acceptance of Bank Letter Offer by customer
  4. 4
    3 - 4 Working Days
    Bank Issue Letter Instruction to Lawyer & Valuer
  5. 5
    5 - 6 Working Days
    Lawyer
    Prepare for Loan Agreement for customer execution
    Valuer
    Contact customer to arrange for Site Inspection
  6. 6
    14 Working Days
    Lawyer
    Send for Bank Execution and Bank return Agreement to Lawyer
    Valuer
    Send in Valuation Report to Bank
  7. 7
    5 Working Days
    Customer to make payment to Lawyer
  8. 8
    3 weeks - 1 month
    Leasehold
    To request consent from Land Authority (Selangor)
    1 - 2 months
    Leasehold
    To request consent from Land Authority (Wilayah Persekutuan Kuala Lumpur)
    14 Working Days
    Encumbered Property
    Request Redemption

    Whichever applies to your purchase.

  9. 9
    2 - 4 Working Days
    Lawyer
    Stamping of Loan Agreement
  10. 10
    14 Working Days
    Advise Bank for Release of 1st Payment

Timings are a guide only. A leasehold title needing state consent, or a property still charged to another bank, will add to the schedule — both appear at step 8.

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More guides.

Buyer guide, tenant guide, acquisition cost, RPGT, EPF withdrawal and professional fees.

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