emm..correct me if im wrong. for loan below than 250k, CB giving BLR-1.8%. i guess BLR-2.3% or -2.4% for loan above 500k right

can get la.. if 250K can get BLR-2.2/2.3.

make sure u accept, and not blindly submit application,

5% RPGT ..and now standardized loan rate, is property still a good investment? Poor for peasant like me, sigh..
Which bank is still offering good loan rate (e.g. BLR-2.2, 2.3 & 2.4%), Thank you

Source:Home loan rate hike inevitable

Quote:
The analyst said the banks had agreed to end the mortgage price war. “We understand some banks have started to raise mortgage rates for new applications since this week.

“Mortgage rates have been standardised to BLR minus 1.8% from BLR minus 2.3%, while banks are no longer funding upfront costs such as legal fees and other costs.”

what kind of crap is this? normally banker will charge higher interest rate if they give ZEC package as compared to non-ZEC. The moving cost is built into the loan interest rate...not freebies to consumers.....

apa dia cakap?

well, you could still put the costs of lawyer fees, stamp etc into the loan itself, ie have a higher loan amount than the price in the spa. of course, not all banks allow that if the margin exceeds a certain amount, but its worth a try.

and you will get to enjoy the 'lower' interest as it is classified as non-ZEC. yeah i know, its not really 'lower' at all compared to the usual blr-2.4

2cents

I just got the nzec package from ocbc. My legal fees is financed into the loan amount. 1st 3 yrs BLR-2.3, thereafter BLR-2.4,

i did a check though i am very well settled with a loan (RHB is probably not so happy about it - it's effectively BLR-2,5 and they did pay for all the upfront costs of this flexi pay and withdraw they customized for us after a hell a lot of haggling) and made some calls to a few banks just to check this friday.

it appears that with a low margin of finance (i.e. 40% capital on hand) you can negotiate a rate of BLR -2,4 over the phone. entry costs are not financed though. seems they figured that this is not really good idea in case the customers pays back to fast.

if you are a good customers (low risk of default and good paymaster) you should have no problem to get rates significantly better then published. for 90% MOF i dont see the rates to remain as good as they used to be.

Here is some news from me who work in Public bank:
Currently Outside market there is no more BEST rate as most of the banks are "standardize" the rate within BLR - 1.7% to BLR-1.9% ( minor deviation due to whether got purchase MRTA, higher margin & etc ). Good news is that this Standardaziation is only applicable to subsale property & refinancing. Purchase from developer is still able to FIGHT rate among the offers.
Another sad news is that there is no more ZERO COST. More sad is that this is applicable to all type of loan, included purchase from developers. Hence, people maybe consider more things on their loan since the rate is not the priority.
HOW TO CHOOSE THE MOST SUITABLE LOAN?
New things to be consider now:
1) Whether the bank near to your house to save your travelling cost and parking fees
2) Bank does offer legal fee financing package up to 100%
3) Bank does waive your valuation cost which is range from RM250 to RM 1500 ( most of the banks need to charge valuation fee )
4) The efficiency of loan disbursement staff to release the loan before due date. This help you to avoid cost of late interest charged by developer or vendors. ( Normally the staff in each branch is faster than those are centralize in KL because of they know you and you can easily get in touch of them )
5) A competible of whole package - High loan margin, longer loan tenure, lesser Early Settlement Fee.
6) The speed of approval and processing ( branch manager got authority to approve the loan will get faster approval )
7) The completed system for after sales service ( for example, after few years you may want to withdraw EPF to pay off loan, revise instalment amount or increase the loan limit)

Hence, do share more about your consideration to help us improve our loan package...

does that means we can still get the higher minus rate if we're purchasing new property in construction?!

good advice
i wished you would have posted earlier. i would have saved on the valuation fees if i knew it earlier.

If my loan package is flexi, Can my EPF withdrawal (say after few yrs later) to be bank in to my other designated account instead of loan account ?? ?

Yes. Due to the bank had tie-up with developer an agreement previously.

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Added on November 10, 2009, 9:32 pmUnfortunately, the EPF money will be minus out the loan principal straight away without withdrawal.
Alternative way is that after EPF withdrawal to this loan you can refinance to another bank to cash out the money.

This post has been edited by Bon Lee: Nov 10 2009, 09:32 PM

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Added on November 10, 2009, 9:32 pm

Unfortunately, the EPF money will be minus out the loan principal straight away without withdrawal.
Alternative way is that after EPF withdrawal to this loan you can refinance to another bank to cash out the money.

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Yes, good point. But hv to wait for 5 yrs lock in period

Anyway, i just received HLBB offer letter for mortage plus (flexi) loan package, ZEC with BLR - 2.00% lar

ANyone saw yesterday Sun Paper advertisement by SIme Darby?

I saw there BLR - 2.4%.........

loan amount? RM500k and above or below?

THey just refer to Sime Darby project....ranging from 300k to millions.....

haiya..too bad..dont understand why goverment do this..

it make it become harder for people to buy a house. unless the lower the cap for BLR as well.

i dun think the govt did anything about this rate thing...

actually, many bank still giving BLR-2.xx% for under-con property including OCBC...