Housing Loan

We’re driven by a single purpose: to bring your dream come true; and in doing so, we provide you with complete peace of mind throughout the loan process. Our experienced and professional loan officers and support teams put you in the strongest position possible to help you become more confident with your home loan application.

CURRENCY	LAK (you will find it easier to make your payment and don't have to worry about the change of exchange rate)
LOAN PURPOSE:	Purchase of owner-occupied residential house (apartment) with or without land Purchase of vacant land for erecting owner-occupied residential house within 1 year. Over 1-year house erecting is not yet start customer is forced to repay House renovation Any other residential property that may fit into housing loan criteria
SELECTIVE AREAS	In town and vicinity of town applicable to all provinces
LOAN AMOUNT	Up to 80% of the current market value (Maximum not exceed LAK 2 Billion)
INTEREST RATE P.A (Floating rate)	9.59% P.A The interest rate will be changed annually on one year corresponding day from the starting date, thereafter from the previous interest setting date, and will be set at 4% plus prevailing 1-year maximum deposit rate by BOL, e.g as of an existing BOL notice on deposit rate for 01 years is 5.59%p.a, So the lending rate apply 9.59% p.a
LOAN TO VALUE RATIO	Maximum permissible LVR ratio is up to 80% of total price of the property (Land and house). 20% margin has to be borne by the borrower as down payment
LOAN TUNURE	Minimum 1 year; Maximum 30 years
REPAYMENT METHOD	Monthly Interest and Monthly Principal
DEBT SERVICE RATIO	Lending level is subject to monthly repayment burden, typically not exceeding 40% of borrower's disposal income and varies according to individual circumstance
LOAN PROCESSING FEE	1.0% of approval loan limit
LATE PAYMENT	Late payment after 7 calendar days bank will charge 0.5%/day of monthly installment
PENALTY RATE ON DEFAULT	After 3 months the bank will charge 150% of the loan interest rate on the amount of the outstanding balance Afrer 6 months the bank will seize the house
EARLY SETTLEMENT FEES	3 months interest on outstanding principal balance, if settle within twelve months from the drawdown.
PROPERTY VALUATION FEES	Borne by the borrower minimum 1% maximum 3% of approved loan limit
COLLATERAL	Land or Land with House
INSURANCE	Applicable for building and Life Insurance of the borrower (MJBL can provide loan)
CO-SIGNER or CO-BORROWER or GUARANTOR	Compulsory: Husband and wife, son and mother or father, sister and bother or single borrower must have guarantor
AUTHORITY SERVICE, LAND TITLE OWNERSHIP TRANSFER, REGISTRATION, NOTARIZATION AND OTHER LEGAL FEES	Borne by borrower