bro put me in pending list as my loan approval still not finalized..but i strongly want to take this hs by hook or crook..hehe.

anyway Sirqueza the sinking is on Dzaman 1 is it? what kind of compensation? i hope Dzaman 2 wont have this problem

This post has been edited by macabre221: Mar 9 2012, 04:46 PM

No no, it is legasi( I guess) which just beside petronas and ppl already moved in.

guys can i know more details housing insurance on MRTA/MLTA and also we personally insured?

the person incharge for loan application suggest me to take MLTA and incorporate it in housing loan. for 9 yrs coverage on MLTA will be RM35k it seems. After 9yrs i can get back the money and after that is depends on me to proceed take insurance or not.

u guys advise kindly needed here..thanks.

Briefly, explanation on MRTA vs MLTA... something i got online...

Mortgage Reducing Term Assurance (MRTA) and Mortgage Level Term Assurance (MLTA) are functioning as a protection for borrower by helping them to settle their outstanding mortgage loan in the event of something bad happens. In other words, it is mortgage insurance.

Mortgage Reducing Term Assurance (MRTA)
-The premium will be much more cheaper than mlta as the insurance will be decrease every year.

-Only cover death and the Beneficiary name the the bank. The insurance company will pay up all the balance loan to the bank and the house belong to your family member. Wont received any money form the insurance company only the house.

-If nothing happen at the end of the tenure, house owner receive $0.

-Need to pay for 1 lump sum for the whole tenure and can finance into the loan.

Mortgage Leveling Term Assurance (MLTA)
-premium much more higher, constant every months untill whole tenure.

-cover death and permanent disability. If house owner cant work the insurance company will pay straight away for ur case RM300k to the owner plus some interest. Same apply to death, the Beneficiary name ur family member will get the rm 300k plus some interes not the bank. Then its depend on ur family to settle the balance loan or continue the house installment if the balance is not much left.

-If nothing happen at the end of the tenure, house owner will receive all his money back plus some interest. lets say every month u pay rm100. At the end 30 years u will get at least rm100x12x30=rm36k plus some interest or u can take out the money earlier to settle ur house loan at year 20 or 25 or continue can until age 100 so that at old age someone will take care of u. Once u not around the Beneficiary name will receive at least rm 300k

- can pay monthls or yearly. finance to loan depend on bank not every bank will finance it to the loan.

TAKE AWAY POINT:
MRTA follows the house, whilst MLTA follows the buyer.
1) MRTA - if you change property, or refinance ... your MRTA will be gone!
2) MLTA - even if you change property, or refinance, or buy additional investment, you can leverage on your existing MLTA.



Regards,

Personally i am taking MLTA due to flexibility, but of course you have to fork out more every month as the premium is monthly basis. MLTA is better for me because 1. you can get back your money after a few year, not the full sum tho but at least 90% of it. 2. It covers 36 critical illnesses 3. You are free to adjust the sum insured.

That's how i thought about it. Have you finalised your bank?

This post has been edited by sirqueza: Mar 12 2012, 09:01 PM

tomorrow sign loan agreement wif bank, hopefully in future Bayuemas is the best & harmony & peace place...

did you guys paid the remaining amount to the developer already?

i paid the outstanding amount already. Hw abt you? Which row you buy? Did you receive letter from developer for another 10% payment for piling work done?

---

Added on March 13, 2012, 3:53 pmI took MRTA. 1) I prefer put the monthly premium in bank or invest which generate higher return. 2) You will get back certain amount of cash if you manage to settle the loan early. 3) I prefer MRTA to take care of the housing loan and other life insurance products with lower premium,instead of combine the housing loan with life insurance, i.e. MLTA.

This post has been edited by kgb1245: Mar 13 2012, 03:53 PM

bro on the 36 CI, it is up to you want it or not. i am going for MLTA also but insured for TPD/Death only..So far OCBC approved and since i am outstation, not yet meet the agent to take the LO and go through it..

I prefer to take 36CI just in case (touch wood). I believed MLTA is a separate buy and not come together with loan package. Between, i do not put you in pending list anymore

if i take CI it will be more cost..for 9yrs coverage i include in loan..after 9th years i'll need to pay as normal..
haha..ya ya..take me out from pending and submit my name under DZaman owner's list..

Dear Buyer,

This is wayne from HSBC.

Inform that HSBC is 1 of the panel for this project.

Kindly give me a call if you are interested or any inquiries about the package.

012-5558647

Thanks

kgb1245,
on letter from developer for another 10% payment for piling work done, it will be release by our bank right?

Yes, if you taking 90% loan, then the amount will be released by bank once you signed the loan agreement.

guys,

on the MOT payment, when we should pay it? once we get the key or once our loan have been agreed?

for MOT we pay (total MOT - RM3850) right?

anyone have idea how much total MOT will be?

Hi KGB1245
May i know u take which bank & which row u bought?? your bank charge u interest liao??

---

Added on March 16, 2012, 10:58 amMy lawyer ask me prepare cheque pay for MOT together with the booking fees 10K
May i know ur lawyer name?

Calculation for MOT from my lawyer

House Price - RM 433888.00 @ 1% = 4338.00 But we jus need pay = RM 1000.00
- RM 333888.00 @ 2% RM 6678.00
----------------
Total MOT RM 7678.00
Less Developer Bear RM 3850.00
----------------
RM 3828.00
Add Stamp Duty RM 400.00
-----------------
Total RM 4228.00
----------------

This post has been edited by godfavor: Mar 16 2012, 11:00 AM

godfavor, thanks for your info.
i not yet deal with the lawyer as my loan just have been approved y'day by 2 banks. next week will get the LO frm the banks.
anyway on the lawyer side, in the I&P booking offer letter stated their lawyer's name. we have to deal with them right?

I took maybank.. mine 1st row facing parkland.. still have not disbursed any payment yet, so no interest charge yet..

---

Added on March 16, 2012, 3:43 pmfor snp, we need to deal with the lawyer assigned by I&P.. however for loan agreement, we can choose our own, especially if you have lawyer friend.. however, the snp lawyer normally will try retain you. so you try negotiate with them for better offer.. their selling point is that they will process the same documents.. so facilitate smooth process..

This post has been edited by kgb1245: Mar 16 2012, 03:43 PM

bro the developer lawyer said for loan agreement legal fees will be around RM64++.00..
urs are charged the same? we can either opt for include in loan or pay separately right?
How about urself?