hi,everyone i m here to seek for advice on my housing loan

1) Maybank
a) BLR -1.9%(3.9%)
b) 3 years lock in period
c) 2% early settlement charges
d) 38 repayment years
e) advance payment withdrawal is min 1k and RM 25 of administration charges

2) OCBC
a) MLR -0.85%(3.8%), this is equivalent to BLR -2.0%
b) 3 years lock in period
c) 2% early settlement charges
d) 40 repayment years
e) advance payment withdrawal is min 5k and RM 10 of administration charges

the good thing about OCBC is lower monthly installment but i m somehow skeptical about their MLR. i wonder how stable/reliable is the rate and it claimed to be control by BNM as well.

any inputs are highly appreciated.thanks

Both are good. I'm able to do for both banks so I'd say my view is independent. I would not let your skepticism about MLR get in the way.

Most may not realized this, but BLR is actually no longer controled by BNM. Each bank's BLR is also set by each individual bank. So its same case as MLR.

Regards,

sorry, wat does MLR stands for?

Mortgage Lending Rate, which is based on the just the Mortgage Business

Base Lending Rate on the other hand is based on all the bank's loan businesses

so actually MLR is not control by BNM?

Both BLR and MLR not controlled by BNM.

BNM will set the Overnight Policy Rate (OPR) and Statutory Reserve Requirement (SRR).

But its up to banks to decide how to adjust their individual BLR based on any changes made by BNM.

why u take 38 or 40 years. thats too long in my opinion. like 2 generations loan

ok..i need to further research on OPR n SRR..thanks for ur inputs

i m trying 2 reduce the monthly repayment..my plan is to refinance once after lock in period..by that time i should be earning more to commit higher monthly repayment

Don take too long. Offer letter's have expiry date. I'm sure the bank officers from both banks worked quite hard to get your loan offer so you shouldnt keep them waiting for too long.

Both the packages are pretty good already.

Just out of curiosity, how much is your loan amount?

Regards,

of course i need 2 do depth consideration b4 commit to any bank..how can i be so rush rite?this is few hundred k of deal..not few hundred RM

btw i m trying 2 get maybank 2 fight for better offer..haha

my loan amount is 261k

i am a traditional guy, if i in ur shoes , pick maybank

another question,what is the difference between MRTA and MLTA?

pros n cons?

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Added on April 27, 2010, 2:50 pmi also want maybank..but ocbc gv better rate..at the end,money still count

This post has been edited by jasonlim: Apr 27 2010, 02:50 PM

http://forum.lowyat.net/topic/410824/

You can read up about MRTA/MLTA here. I was reading it too.

oh thanks dude

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Added on May 3, 2010, 11:41 ami have decided to take Maybank..but currently there is another dilemma

i m trying to secure a lawyer to handle the legal stuffs..but Maybank only allow their panel lawyer to do the Loan Legal Agreement

why is this so?this kind of limitation give us customer more trouble

i pay money but i still need to get your panel lawyer..unless bank absorb for me la..that will be more fair

This post has been edited by jasonlim: May 3 2010, 11:41 AM