Why need this loan?
Refinancing loan is easier to get approval because it will lower the risk of the money lender. The loan amount depends on the market value of the property. If you unable to pay back instalment, they can execute the SPA agreement to claim back the outstanding money from selling the property.
Firstly, you must at least own a property to refinance. However, the differential of current outstanding charged and the property market value must be quite substantial. Or else it may not worth to get the cash-out.
Besides that, it is most preferable that the property is Fully Paid-Off. Next, the land title for the property must not be Malay Reserved Land and preferably is a Freehold Land. If you fall outside of these requirements, then you may not qualify for this loan.