Ok. Here's my condition.

Around three years ago, I applied conventional financing for my first house when I was 23. The value was around 280k. A landed intermediate double-storey linked house in Bandar Seri Putra. I was single.

Fast forward to today, I am married and expecting a child. I'll be moving in next month to my completed property. My question is, how do I go about in refinancing my properties, saving budget, and can convert it to:

1. Joint financing with my spouse
2. Islamic financing

I have search the web and no satisfactory results cater for my conditions. I hope the Gurus here can help me in finding my way. Appreciate if you could guide me in the best directions.

Thank you

Pm-ed you.

Hi rEktOr,

I've PM'ed you.

By the way, is your lock-in period over already?

Hope to hear from you soon.

Regards,

Thank you

Yup. Over already

hi rektor,

out of curiosity, any particular reason u only want Islamic financing?

nope. no particular reason.

The major concern for people not to refinance over is because of the lock in period.
And of course the penalty

But like you said you are no longer in the lock in period and feel free to refinance over to other financial inst.

But Islamic financing does have it disadvantage in this growing market

Depending on what type of customer you are, but in general Islamic financing has more pros than cons

Just a feedback, while in most cases the islamic version of a typical mortgage product has some significant advantages, just ensure that the bank u pick or the branch u go to is familiar with the product and has done few cases before. Else you moght end up with plenty of hassle...........................

The main disadvantage that I believe most ppl are worried about is that Islamic loans are more difficult to restructure if they become default cases.

Simple solution... don't default on the loan

Regards,