Dear sifu sifus

this kinda sial oso last time my parents pakai my name to borrow $$ to buy the current house which im staying at the moment. Then years later hor i bought my own. Now wanna buy another property but kena LTV 70% pulak.. Got anyway how? MBSB ken pakai mou?

MBSB ?? if i no mistake.. that one purely applicable for Goverment staffs only.. please double check.. and the interest quite HIGH.

Buy under friends name.

Goverment staffs should enjoy lower interest rate!!!

too bad im not goven staff nia

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Added on March 29, 2011, 10:33 pmbut my fred kena take the risk of taking the loan oso... hahahaha not many ppl willin to do tat nia

This post has been edited by anzen600: Mar 29 2011, 10:33 PM

Clear the loan of one prop or transfer ownership of existing prop, other way is to buy commercial type prop...

MBSB doens't apply the LTV70% rules... but their interest is high...

Non goverment staff can apply. their current package is BLR -1% ... and lock-in period 5 years... Penalty is 3.5% or 6k whichever HIGHER..

Non goverment staff can apply. their current package is BLR -1% ... and lock-in period 5 years... Penalty is 3.5% or 6k whichever HIGHER..

[/quote]

sure ? non governmentr staff can apply? i went to MAPEX last 2 weeks, they said "Khas and only for Government staffs"? or me wrongly heard?
max BLR -1%? have you try this before?

Any banker can provide more details here?

[quote=cutealex,Mar 29 2011, 11:23 PM]
Non goverment staff can apply. their current package is BLR -1% ... and lock-in period 5 years... Penalty is 3.5% or 6k whichever HIGHER..

[/quote]

sure ? non governmentr staff can apply? i went to MAPEX last 2 weeks, they said "Khas and only for Government staffs"? or me wrongly heard?
max BLR -1%? have you try this before?

[/quote]

I went over to MBSB and asked ... I asked why interest so high... they answered .. Win Win situation!

[quote=Felice821,Mar 29 2011, 11:29 PM]
sure ? non governmentr staff can apply? i went to MAPEX last 2 weeks, they said "Khas and only for Government staffs"? or me wrongly heard?
max BLR -1%? have you try this before?

[/quote]

I went over to MBSB and asked ... I asked why interest so high... they answered .. Win Win situation!

[/quote]


at the end, do you apply for this ? think to taking 1 loan also.. and i heard they more easy to apply.. and approve...

More easy to apply because they did not check CCRISS ...

No after calculation, not worth ...

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Added on March 29, 2011, 11:40 pmMore easy to apply because they did not check CCRISS ...

No after calculation, not worth ...

This post has been edited by Felice821: Mar 29 2011, 11:40 PM

But, if u calculate.. if you are flipper... locking period is 5 years ... how abt buy then sell after 5 years ? still earn mah..

[quote=Felice821,Mar 29 2011, 11:29 PM]
sure ? non governmentr staff can apply? i went to MAPEX last 2 weeks, they said "Khas and only for Government staffs"? or me wrongly heard?
max BLR -1%? have you try this before?

[/quote]

I went over to MBSB and asked ... I asked why interest so high... they answered .. Win Win situation!

[/quote]


I got called up MBSB and asked about it and they told me currently they only offer 0.8% with 10yrs lock in period wor.. Bloody hell not sure how truth is this... mmg gila sial

0.8% with 10 years locking period...i think this is crazy...

nolah wat i heard the version same with Felice, BLR-1% with 5 years lock in period.

you think lah.. who wanna becos of save 20% more then go for so high interest + 10 years...

[quote=cutealex,Mar 29 2011, 11:44 PM]
But, if u calculate.. if you are flipper... locking period is 5 years ... how abt buy then sell after 5 years ? still earn mah..

[/quote]

The house i plan to buy is RM450k. Let take it as 400k loan, 5 years interest more RM28k.

[quote=anzen600,Mar 29 2011, 11:52 PM]
I went over to MBSB and asked ... I asked why interest so high... they answered .. Win Win situation!

[/quote]
I got called up MBSB and asked about it and they told me currently they only offer 0.8% with 10yrs lock in period wor.. Bloody hell not sure how truth is this... mmg gila sial

[/quote]

0.8% .. BLR -0.8% ... or fixed 0.8%??

Felice = oh i see .. you wanna buy Odora Parkhomes... i thought u have 1 unit at Rawang area?

Ya.. I wana buy Odora, and I got 1 unit at Bukit Beruntung.

[quote=cutealex,Mar 29 2011, 11:57 PM]0.8% with 10 years locking period...i think this is crazy...

nolah wat i heard the version same with Felice, BLR-1% with 5 years lock in period.

you think lah.. who wanna becos of save 20% more then go for so high interest + 10 years...

[/quote]

ya lor... doesnt make sense oso if really BLR -1% with 5yrs lock in period can consider geh... the first 5yrs rugi sikit nia

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Added on March 30, 2011, 12:28 am[quote=Felice821,Mar 29 2011, 11:58 PM]
The house i plan to buy is RM450k. Let take it as 400k loan, 5 years interest more RM28k.
I got called up MBSB and asked about it and they told me currently they only offer 0.8% with 10yrs lock in period wor.. Bloody hell not sure how truth is this... mmg gila sial

[/quote]

0.8% .. BLR -0.8% ... or fixed 0.8%??

[/quote]


BLR -0.8 nia

This post has been edited by anzen600: Mar 30 2011, 12:28 AM

if BLR-0.8 still very much ok for flippers

If blr -1% the difference is only 1-1.2%(current competitive -2-2.2%) Isn't it 5-6% more if you take from MASB? To me it is worth it as value appreciate more than 5% over 5 years period... The property price of course not too high la... My 2 cents...

I've the same problem like TS. Wonder if those insurance (eg: ING Home Loan) can borrow 90% for third house?

Before people only borrow from mbsb if got ccris problem or repayment got problem
Now only I hear they want to borrow from mbsb to goreng properties

Does below work?

"Use company name to buy house and borrow loan. Newly formed company(proprietor/partnership/sdn bhd)also can, as income will count using personal income from shareholder or director."

Hi .. i am also in the same situation .. family used my name to buy houses and now when I want to get one on my own, need to pay 30% dwnpayment.

Question here .. what if the house loan for our house has already completed? How does this 70% LTV work? Is it based on the number properties with on-going loans to be serviced, OR, the number of properties in general?

Once the loan is completed and discharged the property is not under loan.

So I can proceed to get the next property with 90% loan instead of 70%?

I don't know abt ING Home Loan, but AIA doens't allow.

If CCRISS only showed 1 property, then you're safe.

Hi iamwho,

From my understanding, it is based on number of housing loan and not number of properties you have. If you have 5 properties and currently only servicing 1 housing loan while the 4 already fully paid, you still entitled the 90% loan. Also, if you have a joint account for housing loan, it is count as 1 housing loan.

Can someone shaes more on MBSB?

yeah... i am curious how they do biz too

since you are Mortgage consultant, i sure you got "luang" to overcome this 70%LTV.... please share with us so that we can take loan from you...

told u liow lor... settle 1 or 2 of your props... or buy SoHo units

kok pun, which mortgage institution are you attach to?

if got $ then we no need to borrow loan or headache, that why we need some "lubang" here and need your professional advice... so many SOHO meh.. like Empire City, Scott Garden, PJ... then you advice which SOHO good take?

OCBC...

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Added on March 30, 2011, 4:49 pmpeople say scott garden is good... but the price is "good" as well

This post has been edited by kok_pun: Mar 30 2011, 04:49 PM

LTV 70% is for 3rd RESIDENTIAL Properties!!!

Tomorrow MBSB having their AGM at Sime Darby Convention Centre start around 11am!!!!

This post has been edited by CyrusChang: Mar 30 2011, 05:07 PM

aiya y goven suddenly implement this control geh, its not gonna impact the rich pengoreng pengoreng much pon but for ppl like me who wanna invest small small kena pulak.. wth

if taking MBSB with BLR -1 then 5 yrs later kasi refinance to get a better rate frm other bank is not a bad idea isnt? but kena pay for the 3.5% penalties for early settlement la

Depend on market ... if the price go up more than 100%...I believe you don't mind to pay 3.5% penalty!!!

Trying to understand further, if borrow loan from MBSB and refinance to other new bank after 5 years, does that consider 3rd housing loan for the new bank? still kenan LTV 70%? yes no?

The cooling measures are there for a reason. People are complaining that if 70% they cannot buy. In the first place, if you do not have that much of a safety net, perhaps it may not be a good time to go into investments. 70% LTV is based on CCRIS. You can have any two loans for 90% at any time. MBSB is a financial instituition so it must adhere to BNM directive and base their loan approval on CCRIS.

according to them . No cap at 70 LTV and CCRIS...that why only BLR - 1%

more than 100% in 5yrs .. How I wish nia haha

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Added on March 30, 2011, 11:40 pmthats what i have been told as well..Will call them up again tmr to double confirm

This post has been edited by anzen600: Mar 30 2011, 11:40 PM

MBSB is no doubt an FI but it was licensed by Ministry of Finance.

The directive of LTV of 70% come from BNM.

Therefore, since MBSB is not governed under BAFIA, there is no need for MBSB to follow the guidelines from BNM.

p/s: MBSB does not have access to CCRIS as CCRIS is BNM's tool.

Interesting facts. I will find time to double check the info. Thanks for the headups.

Same applies to credit and leasing companies, i.e. ORIX leasing, Hap Seng Credit and etc.
They are not governed by BNM, but from MOF. If not mistaken, they are governed under the Moneylenders Act 1951.

License loan shark ...

Ok as promised, I have called up MBSB and it is indeed true that they are happy to finance 90% for the third property upward but for rates of BLR-1% which is about 1.5% or so higher than the others.

Thanks to those who had enlightened me on this.

yeah.. wat number u call ? 017 ? i enter their webiste ... but both handphone cannot get ,.,,please let me know the number.. thanks in advance

Spoke to MBSB yday and they confirmed that they do check on CCRIS prior to approving loans apps......

In their website , they clearly stated "NO check on CCRIS" ... but actually internally they will proceed to check for it to at least "secured the unsecured loans"..

mean the wording of "No check on CCRISS" is just to attract more ppl to apply and try luck ... maybe 100 ppl apply, then 10 ppl will get approval based on their (MBSB) crietria

I think they do check CCRIS but the officer I spoke to claimed that they are the only one doing 90% for 3rd property upward and no limit as long as your income justify the borrowings.

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Added on March 31, 2011, 3:59 pmI used the number on their website. They have quite a few branches, maybe you could try another branch?

This post has been edited by michaellee: Mar 31 2011, 03:59 PM

Just went to MBSB AGM....one of the region representative mentioned that MBSB start to check CCRIS since Jan 2011...anyone can double confirm this?

this is indeed good news nia at least for me ...its not totally hopeless!!!

thank you so much for the enlightening news

No problem. Apart from MBSB, you may try call up credit and leasing companies for alternative. Who knows their pricing are more competitive?

Spoken to a friend of mine working in the CGC this morning and was informed that nowadays you do not have to be necessary a bank in order to retrieve CCRIS info from BNM, you can in fact 'buy' the information from credit bureau - 'http://www.smecb.com'.

I reckon MBSB must have subscribed to this to obtain the CCRIS information. Infact, lets say you have a company and you wana do checking on the payment record of your potential buyers before you sell to them in credit terms, you could 'buy' such info from credit bureau.

Read the facts here with interest. And i'd like to clarify a few things.

1. MBSB is not owned by the Ministry of Finance. Their major shareholder is in fact EPF

2. MBSB is regulated by the Ministry of Domestic trade & cooperative affairs, and Suruhanjaya Koperasi Malaysia. They have their own MBSB act, gazetted by parliament. In that sense, they are not subservient to BNM.

3. BNM is stupid. They have unleashed so many "tightening" measures lately, but big culprits like MBSB and Bank Rakyat can do watever they want.

4. I'm pretty sure MBSB checks CCRIS. That is the only way for them to do Debt burden checks. The difference is - they probably relaxed their ccris standards a little. By d way, MBSB doesn't need to "buy CCRIS" reports. They get it FOC from their collaborative partner in crime, mr. RHB Bank. Why is that the case? Both parties have the same common shareholder lah!

In my past life, i was required to know nonsense like the above

today i called up PJ branch... the lady staff told me now confirm is BLR -0.5%... not 1% anymore... crazy..

of course lah. finally increase their pricing to protect their margin sikit

those people in MBSB are lending so recklessly, God knows what time bombs are existing in that place.

Then again, nothing will go wrong lah. EPF will use our taxpayers money to rescue that place lor. LOL

Shall we summarise

(1) The LTV of 70% for 3rd property is only applicable to FIs governed by BNM. Therefore, MBSB is excluded from this.

(2) MBSB did check CCRIS but not to find out how many mortgage loan that you have. They wana know your payment record.

ya... somemore that lady said... will need about 1 month then only know the approval status... i said i tot about 2 weeks... she said no gurantee.. some could take up to 1 month... omg....

walau yeh.... then really wasting ppl time wor... even can get the loan but later oso kenot break even with the monthly installment leh, still worth taking it boh?

Not take or dont take the loan, its whether take or dont take the property .. keke

Of coz you have to do your due diligence, mbsb is an option for you to get 90%, and you cant compare it with other bank loan packages.

Seems like all information are not in sync, some says BLR - 1% or BLR-0.5%. Lock in period 5 years and 10 years.

Guys,

Is the 70% loan-to-value (LTV) limit on third housing loan or third property?

3rd housing loan

Hi guys, I just check with MBSB HQ in Jalan Leboh Ampang in last few weeks. The staff told me that for third property only can loan 70% from MBSB and the rate is BLR - 1%.....

I have read all the posts in this topic... How come so many version kah? MBSB, what you doing????

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Added on May 16, 2011, 10:48 pm* Third residence property...

This post has been edited by SmallPotato2011: May 16 2011, 10:48 PM

Serious???

I asked seriously... but not sure the staff answer seriously or not.... As you seen, so many different version...

as per our record at tat point of time March,yes,confirm no cap on LTV70% and tat why the interest rate so expensive?now already change to 70%? To double confirm..u can always check their website and ring to them..thanks..

I thought the 70% rule has been implemented for so long and it should be very cleared to public already, or BNM keep changing the details?

Pls read the previous page before input comment,so u'll more in details...cheers..

So this thread is more focus on MBSB, but still I find different answers...

Wat diff answer?

LTV 70% is for 3rd Residential Property VS 3rd Housing Loan?

3rd residential property..

ok guys, for your info, MBSB just rejected my app due to some unknown reason altho my criteria is more than enough (according to the agent la).. At first, their mgmnt mistakenly rejected my app due to the developer profile so i kasi complain to the developer and things clear up edi and tot no problem geh.
However hor, I got rejected for the second time as well for dun know what ever reason la.. Seems than they are not keen to do business with non bumi clients nia.

So all the best to u guys la if wanna apply loan frm them nia...really wasting my time with them nia

For your guys information, MBSB,ING,AIA are not falls under the 3rd property 70%. So if you're planning to take a third loan can consider.

As i know MBSB are not for only bumis, and the rates are quite competitive around -2

They want good profile customer as well, can't afford to get all those customer that turn npl.

ING & AIA are under bank negara control, hence 70% for 3rd property

What so special about MBSB that it can be exempted ?

nothing special.
MBSB is not under bank negara control, hence they can approve up to 90% loan, but higher interest rate.

Would like to ask, if this is possible -

Say you currently have 1 property under your name and still servicing the loan.
So if you purchase one more, you will kena the LTV70% for your third property.
Is it possible if you buy 2 property at the same time, so that when the banks check CCRIS it shows only one loan, so the banks will approve both your property loans at 90%, thinking that this is your second property only. (provided you apply different bank la at that same time).

Possible?

I doubt got such loop hole. Maybe banks or Bank Negara will check CCRIS once in few months to tally the reports or sumthing?

good effort. Better don't try.

Later, both banks recall your both facility. You must appeal to maintain one and cancel another loan to reapply for 70% ( due to 3rd loan ) and after all S&P sign and 10% deposit paid, u willing to forfeit?

Quite true. I recall seeing a clause in the bank loan agreement that the bank has the right to recall or something to that effect.... having to top up, etc. So, unless you have the cash on standby for this, better not try your luck. You never know...

possible, but not a recommended move.

banks will report loan application that is pending approval in CCRIS. (yes, CCRIS shows not only loan that has been taken up by u, but also the application, approval or pending.)

if they find out... u'll probably get 70% for both of the application instead of what you plan for earlier.

hi all, if i am having 1 prop which fully settle with my name on it, 2nd prop just started the loan serving, so if i am to invest the next prop will be considered as 3rd prop? and meaning i can only loan up to 70% under this regulation for my 3rd prop base on my scenario?

Sorry if my questions sound noob.

actual 3rd house will be ur "2nd house" according to ur CCRIS. so u r entitled to 90%

Thanks AMINT for the clarification.

Any one taken loan from insurance company like AIA? What are the pros and cons? Can share their experience here.

I checked my CCRIS report last week since I want to check my status on progressive interest payment by 1 developer who is always late in payment n a few days before I applied a prop loan from 1 bank. To my surprise, the loan application is reflected in the CCRIS report even though the application is in the same month n just few days ago. I checked with another banker, they also can see the application online even though they are from another bank.
So it's confirm this way will not work because the update is very fast nowadays on loan application/acceptance. Either bank will find out one has accepted the loan offer.

Yes u re right. I also checked on my ccris, it seems like they update every few days. So please don't risk urself on getting 90% for many props at the same time otherwise u re risking to fork up the other 20% upon disbursement

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Added on December 9, 2012, 11:15 amYes u re right. I also checked on my ccris, it seems like they update every few days. So please don't risk urself on getting 90% for many props at the same time otherwise u re risking to fork up the other 20% upon disbursement

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Added on December 9, 2012, 11:15 amYes u re right. I also checked on my ccris, it seems like they update every few days. So please don't risk urself on getting 90% for many props at the same time otherwise u re risking to fork up the other 20% upon disbursement

This post has been edited by greenstuff: Dec 9 2012, 11:15 AM

Of course I won't. Too conservative to do such thing n I don't think my heart can take it. LOL.

Dear sifus, I have been searching an answer for this question, but cant seem to find it here. So here is the question:

Is the LTV 70% rule apply to third 'owned property' (name inside SPA) or to third 'housing loan' (name inside loan agreement) or both?

For example, lets say I have purchased 2 houses and both are having my name and my wife's name inside the SPA. But for the loan, I only use my name (of course this is possible only for certain banks that allow 3rd party loan) without my wife's name anywhere as guarantor / chargor etc.

Then my wife would like to purchase a 3rd house and wants to use her name in the loan. Will the banks offer LTV 70% or 90%?

I heard my friend is saying there are cases that name inside SPA also is considered in the LTV decision by banks although the name is not inside loan agreement. That would mean, the bank would update the CCRIS record too for the name inside SPA.

Can anyone confirm this? Thanks for all your input.

Tq.

To get the best answer, go to BNM and print out the CCRIS Report. You can see whats inside

No la not referring to you boss, but TS.
Taikor don't have to do this, pay ca$h sap2sui only

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Added on December 9, 2012, 8:28 pmSPA is a legal document, whatever inside doesn't relate to ur ccris. Only the loan application will. So don't worry, 2 names in spa, one name on loan, that commitment ll only appear to the one applying loan.

Previously they update ccris every 15th of the month, but the song melody has changed so they update reguarly.
Also most banks ll recheck ur ccris again during disbursement, that's why the method TS mentioned here cannot be applied anymore


This post has been edited by greenstuff: Dec 9 2012, 08:28 PM

sorry for bringing up the rather old thread, but I'm interested to know the answer for this.. can this new business/company get 90% loan, even the the owner is already servicing more than 2 housing loan?