Page 50 - Maybank Premier & Privilege Virtual Property Fair

REDRAW FACILITY ON A HOME FINANCING

Did you now that assets such as landed & non-landed properties are good collaterals because
they are likely to increase in value over the years? Most homeowners don’t know this but you
can actually derive surplus cash from your property! How? In simple terms, when your property
value appreciates, you’re able to ask for cash from your financial provider.

Doing so gives you a chance to capitalize on the market value appreciation of your financed
property. At Maybank, when you take up a Redraw (aka Top-Up) facility, it gives you the
flexibility to release the equity from the property especially when you have already paid /
partially paid the loan/financing.

Whether you are looking to renovate your home, pay for your child’s education or broaden your
investment portfolio, this would be an option for consideration as compared to personal
financing.

To qualify for a Redraw facility you need to have Mortgage financing with Maybank for more
than 6 months with a good repayment track record.

Total financing amount (i.e. outstanding balance of the existing home financing & the new
redraw) must be within the prescribed maximum margin of finance.
Example:
Based on the scenario of an original approved financing amount RM200,000 with current
outstanding balance RM100,000:-

New Redraw Application

With the above illustration, customer’s eligibility for New Redraw Facility is up to RM300,000
based on the current OMV of RM500,000 subject to meeting the terms & conditions.

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