Hi All, not sure if I can open a thread like this. Mod kindly close this if this is not allowed.

Im about to take this package, BLR - 2.2 (with MRTA).

Anyone taking this package? Appreciate your comment.

Tks

mind to ask,
is the MRTA is compulsory in this package?
i do realise that to increase your repayment for quite a big sum provided those LOAN+MRTA plans..

MRTA is not compulsory, but if without MRTA BLR -2.15
With is BLR -2.2

ur loan amount?
flexi?

There are many T&C that is applied when taking a loan especially how the offer deals with the cost of fund (legal fees etc.). Make sure you understand all these charges upfront before taking the loan. You don't want to be dealing with it afterwards.

SC's M1 still my fav housing loan now.....but just check if there's any "cap" on floor rates and prepayment in your agreement.....

Mortgage One by SCB is always a flexi loan. their term loan was not M1 and i can't think of the name =P

ZMC package always comes with admin fee, please go behind part of the letter offer, around the fees and charges clause.

it is good to take up mrta even though it is optional. We dont know wat will happen to yourself the next second of your life. you may die, get rich, knock by a car and whatsoever....

BLR -2.2% is for loan amount RM500k below.

You can always compare with MRTA from other institutions and gauge the difference that you may save with your housing loan if you choose without MRTA.

(PM me. I'm working in Hong Leong Assurance) hehe..

If the banks insist on MRTA, I get away by offering to buy a term policy and assign it to the bank instead.

mind explain more?
i dun understand


my house is under SC also...

I heard, SC was the first who introduce KLIBOR to consumer, issit right?

anyone can explain on how it works? in history, how high is KLIBOR % can go?

Means you buy life insurance, anything happen the bank will get the money to settle the loan.

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Added on October 15, 2009, 6:34 pmKlibor rate peak around 3.7% at year 2006-2007. It really depends on the economy, generally it is lower than BLR.

This post has been edited by klang-valley: Oct 15 2009, 06:34 PM

Its called "Term Loan" bro So you already got the name right

KLIBOR is kinda risky to me. I hope I can get SC M1, if this is the case i can dump all my remaining $$ into the CA, and get an ATM card from SC. From there, i can offset alot of int right (provided i got a lot of $$ )

But is there any term on prepayment? My sales exec did not mention this to me..

KLIBOR is to me risky. It can fluctuate 1% or more within 3 months. Are you willing to take the risk? I'm taking some loans tied to the Euribor in Europe and am facing the same issues so if you're risk averse I would say avoid the KLIBOR loans.

loan amount?
MRTA is optional here, 100% zero cost all absorb by bank.
Goh
016-3372335

BLR-2.2% not low enough, some bank offer blr-2.3.2.4%

Again, its subject to T&C. Most banks attract you with lower rates in the first few years of the loan. Then you are bound by the T&C for 5 yrs.

sorry gents...lost..what is "M1"

Mortgage One

Yep, can only prepay up to 69% of the loan i.e. at any1 time o/s must be at least 30% if not got penalty 3%.

U don't need atm-la M1 opens a chequeing a/c (U gotta pay RM200.00 1 time and RM10.00 maintaince monthly) U just issue a cheque

If take this package, when i withdraw money from atm, any charge?

some semi flexi loan like mbb will charge rm25 per withdrawal, some like pbb even worse..need 2 days in advance notice, plus charge

Unfortunately they only give 80% loan to non-klang valley properties...

the 69% is calculated from the total loan amount? installment amount per year or just based on the total loan amount?

let say i have rm100k loan with M1. loan period is 10 years. that means from year 1 till year 10, the accumulated prepayment amount cannot be more than 69%?

I was one of those who signed up for MortgageOne way back when it was first launched. There is no charge for ATM withdrawals, however there is an RM8 annual charge for ATM cards (not including the RM10 monthly fee). You can withdraw as much as you like without fees but at least with my account you can only withdraw from Stanchart's ATMs only, something about the MortgageOne account not being a regular savings/current account. This limits your choices to the 5-6 branches they have around KL/PJ only...