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Loan application advice

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KUCHING: Sarawak Housing And Real Estate Developer Association (SHEDA) has advised potential applicants to provide the necessary documents before applying to banks for property loans. According to SHEDA Kuching Branch chairman, Dr Christopher Ngui, while the requirements differ according to which bank the applicant wants to go to, they should know what documents to bring to ensure the process goes along smoothly.

He said that for personal loans, the applicant should bring a copy of their identity card or passport, payslips and bank statements from the last six months, and EPF statements and income tax assessments from the last two years.

For sole proprietor or partnership purposes, they should bring the identity cards or passports of the sole-proprietor or partnership, business registration certificate, annual renewal certificate, bank statements from the last six months, income tax assessments from the last two years, and certified management account from the last two years. As for private limited companies, they are required to bring all guarantors’ or directors’ identity cards or passports, certificate of incorporation, the latest Form 24 and 49, Memorandum and Articles of Association, bank statements from the last six months, and financial statements from the last three years.

“ In addi t ion to that , they should also ensure that they have a good Central Credit Reference Information System (CCRIS) record. “To get their loan approved, they should prepare all the necessary documents and check their status to ensure that everything goes smoothly,” he said during a press conference here on Wednesday.

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