hi guys,

I'am planing to apply bank housing loan to buy second hand home. Many people said OCBC housing loan good.
Can I know in what way it is better than other bank housing loan?
Thank in advance ^.^

Due to their branding and aggressiveness of their banking strategy, especially they lending the forces of outsources companies liased with insurance companies to promote their product, where, pay as per you cross sell basis ... So, most people were saying OCBC were good ... in terms of approval, perhaps approval and perhaps rates ...

However, now, most banks rates are standardize now ( i mean quite similar to each other ), especially bigger loan size, so services are most important.

Previously, it was the brand name of CIMB, they were the king of approval and rates .... Now, they not keen for approval and rates but deposit ...

To add on, I admire OCBC aggressiveness but too bad, I always prefer Full Flexi Home Loan .... what OCBC offers are Semi-Flexi.

i go for this bank only if other bank won't grant me loan

semi flexi and fully flexi different

I am customer service banker in ocbc previously, to withdraw the extra money you dump in before, could tooks u about 7 working days.

I would suggest compareing A to A, B to B, because this semi flexi, other banks are offering fully flexi

OCBC loan for me is the best available & very aggressive.

ocbc will charge you rm600 for the land survey

From my experience, 'Oversea' bank are never really really good in terms of their packages.

Maybe their branding and promotion looks good, but when u look deeper into the TnC blablabla, you might not find it any better than our own local bank.

There are no perfect package, so you got to find something that suit you the best.

i only interest their no lock in package.

what land survey?
condo got kena?

This post has been edited by airline: Mar 7 2012, 09:55 AM

condo or landed also kena, survey the market value of the house tat u wan to buy

cimb tarak lock in period

Any bank that can grant Loan i will take

Property Valuation cost is standardize by the Board of Valuer based on property value as well as purpose for valuation.
So most of the banks will be charged similar amount by the valuers then this cost the customer will need to pay, either as fees or amortized into the loan.

So Land survery is valuation Report?
I am referring to undur construction here

For undercon, there's usually a "project assessment" done. Certain valuers will do that but not all.

Recently OCBC Msia upgraded their internet banking system. I noticed some changes in the statement.

Previously, the outstanding amount takes into consideration the advance payment. For e.g. with 100K balance initially, if I make advance payment of 10K, the outstanding balance will be 90K.

However, now with the same scenario, the outstanding balance will remain as 100K.

I wonder if this will affect the daily-rest interest calculation? Can any OCBC banker here shred some light?

Thanks!

I got afew mortgages with OCBC and never encountered RM600 land survey b/4. Maybe only applicable to landed subsale? Anyway they gave competitive rates (most bank offer almost same rates) but was also very fast in response (good service)

---

Added on March 20, 2012, 2:13 pmThese days lock-in period 3 years start from 1st drawdown so essentially by the time Vped only left 12 mths. If leasehold property by the time settle transfer already past lock-in period-lo.

Not like my older loan, after 6 yrs still lock-in period (5 yrs from final drawdown = 7 yrs!!!)

This post has been edited by rakyat: Mar 20 2012, 02:15 PM

What is the interest rate and how long is the lock-in period ?

Hi,

I trying to buy property in Kajang (RM135,000 ONLY) but 3 banks already rejected my loan. OUB rejected my loan because kajang area not under favorable to them and HLB and CIMB rejected because they unable to check my previous records coz I do not have any loans/credit card records. RHB and PBB still pending, really dun knw what they will say !!!!!!! I can't understand 1 thing, I just applied for RM100k loan and my gross income is RM2150 plus with my part time income about RM600 and I also do not have any debts or loan with any banks. I m just 25years but would like to get a property 1st before i wan apply for any other loans. Can anyone help me to get housing loan?

Thank you

btw, which bank offer good package for full flexi loan and minimal/no lock-in?

what is the "accured profits/interest" mean? it seems to increasing day by day, but with no effect to outstanding balance.

any OCBC banker here can help?

Apply under one malaysia house scheme ( for first time buyers )

i have ocb.c loan, so far so good, but i applied last yr, not sure for 2012 still the same

check with the bank valuation price first when purchase subsale property.

ocbc very aggressive in their mortgage business ah?

Still cannot :-(

Your loan is rejected due to 1 reason.
You do not have a CCRIS record.
Means when you DO NOT have a credit card, banks cannot see your past transactions.
Thus they cannot assess your financial cash flow "authenticity".

Get any banker from mobile sales team.
Depends on how banker write recommendation.

Full flexi or Semi Flexi?

Really depends on how well & how often you use these facilities.

Full Flexi Difference
=============

They give you:
0. Current account
1. ATM card
2. Cheque book
3. Bank statement end of the month (how much you bank in & how much you saved)

For all that,
bank charge you rm10/month

Thus begs this question: Do you use deposit $$$ into flexi account every month?
Some of my clients apply full flexi and paid rm10/month for years, yet they do not use this facility.
Yes, people who use semi-flexi might argue you have to notify bank 7 days in advance and queue to deposit.
And yeah you can avoid all that by paying 120/year.
But again really depends on how you use these facilities.

The reason i seldom get involved in " which bank is better etc" is that, lots of misleading and false infos by sifu wanna bes...as far as i know, for OCBC u need only 3 days notice to withdraw extra prepayments that u had made...and only Rm10 per withdrawal, no limit per month, compared to seven days for HL bank and Public Banks Rm 50 per withrawal and only can do so once per month....information always changes, so its best to go to the banks yourself to find out, instead of believing the claims here...some may be other bankers giving inaccurate info, bestncheck yurself

There is better offer from AIA Mortgage Loan with Fixed Interest Rate of 4.85% throught out the whole period.

There is no lock in period as well for the sale the property or settle early.

Best package in town at the moment.

Need more info kindly do call me 016-3595075(Deyen)

Min Loan:100k

No effect with BLR.

This post has been edited by Deyendra Doshi: Mar 27 2012, 10:05 PM

i want fixed rate for 2%pa.

the down side of fixed rate is it can not get benifit when blr decrease

This post has been edited by realcyma: Mar 27 2012, 10:49 PM

AIA is not a loan that is ideal for investors.

the only USP which is a fixed rate - not too compelling in a low interest rate environment, especially when the FED and EURO Central Bank have pledged low interest rates till 2015.

Coupled with the fact that you can't cash out with AIA with ease, plus they don't have a full flexi product.

i feel ocbc is quite good.
i took both of my house loan from ocbc too.


speedy service and good rate.
the reason i choose ocbc is because they came to collect documents from me and sent me offer letter by hand,
somemore, they follow up my case tightly.

thumb up for OCBC.

2 questions for you.

Zero Moving Cost?

90% Margin of Advance if 3rd Housing Loan?

WHat about loan offer by HSBC ? im currently looking for loan for to buy a sub sales property too . in the dark which bank to choose

Now days the rate from all banks is very similar.
Just pick the package that suit you best:
-minus blr rate
-Full flexi, semi flexi, fixed
-minimum lock in period
-service quality and respond.

But must say OCBC is doing very well in service respond and as well as quality. 3 days to pre-approved my loan. Without paying a single cents, even until i signed the loan offer.
Save me alot of waiting time. That's why I choose them.

I have recently purchased a house in Semenyih for investment and took OCBC Bank due to the following:-


i. Up to 80% commitment based on net income. (Able to obtain 90% loan plus good BLR - 2.4% rate)

ii. Offered innovative loan called "Renovation Loan" with BLR +0% on top of my approved housing loan facilities. The best part is that the Renovation Loan is able to "skip" my existing high commitment shown in CCRIS.

iii. Provided example of payment, and the expected full amount of housing loan need to be paid (principal + interest) through separate letter (more clarity & transparency).

Thumbs up to OCBC Bank

Is Maybank MaxiHome Loan daily rest?

Hi,
For those subsale owners, mind to share with me your ocbc panel lawyer contacts.

This post has been edited by SilkyLene: May 8 2012, 12:49 AM

Up to 80% commitment? Really?

how much is your loan amount ?

when i ask ocbc, if loan amount less than xxx, it is blr - 2.2

This post has been edited by jalsrix: May 8 2012, 01:51 AM

OCBC offerred similar product like you to my recent purchase, good follow up and service. They even called me in overseas..... Thats why i decided to give it a try, 1st time used different bank...

Loan amout: RM 300,000

BLR = - 2.4%

---

Added on May 8, 2012, 10:05 amYes. Only if you are in executive position and above with income at least minimum RM 3,000 and above, If I'm not mistaken.

This post has been edited by izzudrecoba: May 8 2012, 08:08 PM

I took loan from CIMB recently they gave me BLR - 2.45 and Alliance gave me BLR - 2.4. Both full flexi loans. Both loan amounts in the region of 800-900k.

Why should settle for semi flexi when one can get full flexi?

Great. Excellent

Have you decided to take the renovation loan? I rather refinance the existing loan to utilize the cash equity for other investment purpose, rather than using the renovation loan (4.2% versus 6.6%).

I was informed that OCBC Bank is the strongest bank in the world for two consecutive years by Bloomberg Journal yesterday. What an award!

Is tis the loan for G Residence ? And u using their panel banker ?

---

Added on May 9, 2012, 6:59 amI took it, but will decide if use it or not upon VP. If cashflow allow, wont touch it then.... fingers crossed..

This post has been edited by froglai88: May 9 2012, 06:59 AM

Guilty as charged

My sister who got a housing loan from this bank... They pre-approve 36k personal loan and 63k renovation loan on top of her housing loan.. Gila!

Coz I heard their CIMB panel banker can offer -2.45%....

Hi Kidmad,

Your sister can opt not to take the renovation loan by ignoring the loan within 1 year after her house is complete.

get semi flexi so you dun have to pay the rm10 monthly ?

This post has been edited by id3d: May 9 2012, 10:19 AM

yup, of course we will never take! haha renovation and so on had being accounted for.

chaps, i have 3 units from Baiduri (Setia Alam) priced at 194k. if any banks can offer me BLR-2.4, its a deal.

This post has been edited by zackzauri: Jun 20 2012, 07:43 AM

waa......so many biji......i am sure bankers out there will be very keen to do your business

194k must be bumi lot.....but usually loan below 200k can get 2.4 meh? i oso want if can get

My ocbc was 3 years fixed rate at 4.55% then remaining years will be BLR-2.45% 40 years 80% rm550k

Cimb gave me blr-2.40% 40 years 90%
hongleong gave me blr-2.40% 30 years 90%
ambank gave me blr-2.35% 40 years 80%

uob din wanna do my business lol..

Do they charge rm10 every month?, bc this will affect 0.05% if u did the amordise table..

i choose ocbc coz the loan officer provide good service to me and rates the best at that time

nothing in particular. but i stress for good service more

No rm10 Monthly charge.. Mine is semi flexi.. If i wanna withdraw my advance payment need 3 working days to process and that one got rm10 charge.

Other than that its 3 years lock in.

I went for ocbc coz of the fixed rate. I think the blr may go up soon.. Hopefully i can be protected with the 3 year fixed.

One problem that occur during application is that Ocbc required a whole lot of documents and verifications which other banks dont need. Especially those like me who do not have any CCRIS record at all.. Processing took 5 weeks.

Cimb 4 working days
Ambank 4 working days
Hong leong 5 working days

Hi all,

Normally OCBC will just take 3 to 5 working days to process the loan.

There is a delay cause of recently OCBC has just upgraded their system & there's some backlog issues which make the processing slower.

After all the implementation & backlog issues have been cleared OCBC will continue to serve customer better.

it is the accumulated interest to be charged on your account during the first day of the following month. because interest is calculated daily, you will see the change in amount everyday. try to pump additional Rm5000 one day and on the next day you will see lower interest being added to the "accrued interest" amount

got it! thanks

prefer the previous presentation of the account where the actual outstanding balance was shown.

now i have to do some arithmetic to get the amount correctly

MRTA compulsory? if yes, min how many years?

it is not compulsory to buy MRTA if you taking loan from OCBC

the only downside to ocbc homeloan is probably when your property rise in price and you would like to apply for a top-up loan. they do not facilitate top up loan....ie your borrow 500k today and 3 years down the road other bank can lend you 700k, giving you 200k to invest in another unit......for ocbc, they can offer the renovation loan but it is bearing a much higher interest.
while you can just refinance with another bank, the legal fee and stamp duty will be based on the full amount and not the top up amount.
so that will increase your cost a little.
but of course, this will only happy when your property rise in price and you want to invest another one. otherwise, nothing to complain about ocbc loan

i just wana correct u on this statement regarding top up loan...
they do provide top up loan and it's cal term loan, they will send a person to inspect ur house and will revalue before giving you more top up loan..and no process fee, except some fee which is around RM500..maybe your SA no knowledge on this... and for this top up loan, a different BLR will kicks in, depends on the market rate which i get a better rate for the top up loan..

one thing im suprise is applying top up loan is easier than applying for a new loan for the new house.

sounds great, only rm 500 can have better rebates on BLR + top ups

well, i did the check just 3-4 months ago cos i am now using ocbc homeloan. called up the sales person, said no such things.....not believing the sales person, i called up the call centre and they repeated the same message. and the ONLY way to get more loan is renovation loan

i can only conclude they do not favour top up BUT renovation loan cos they can charge more and renovation loan is something new for them to sell.

i heard OCBC can provide house loan for more than 90%, can anyone confirm this?

depends on developer ,
they seems like now supply spsetia project kuat kuat , up to 95%

Sp setia linked to govt....= safe developer. Sure more confidence to lend more....

normally you can apply for 90% MOA + 10% of insurance & LVS financing

on top of that you can also apply for renovation loan up to 30% of your loan amount with BLR +0% (subject to credit assessment)

Reno loan 30%?

Not so easy... Depends on grading... BLR + 0% is subject to Reno Term Loan insert into loan agreement, means u have to pay valuation and legal fee or so called LVS. It is almost as good or as high as Personal Loan in 10 years given period. If to avoid LVS, the rates is BLR + 1%, good to cash out but the interest not low.

I managed to get blr-2.45 whole tenure.

90%?

90% of 300k ,-2.4

abit weird if they say no such thing..i do heard the renovation loan when applying for my new home loan...but theinterest rate is way high from the normal home loan..even all the bnank rejected my new application..

i end up taking the top up loan from OCBC, i remember i just randomly met the agent in lowyat but i forget the details of the agent already..try to advertise in the classfied for the loan section im sure the agent can help..

Loan over RM800K ?

can get a minimum of BLR -2.4% and up to -2.45%

Last 2 month below 800K is -2.4% only

the water gate open already

i juz got my loan approved from OCBC at -2.45%...

but got 3 years lock in...no free legal...

but lock in not an issues for me...at least i stay for the next 10 years...dun wan shift house again...its scary....unless... i got money buy semi d / bungalow la....

How much the loan amount? Less than RM800k ?

my loan amount is RM8000K...


my loan range from RM500K - RM800K...

Less than RM800k used to be -2.4% 2 months ago.
Looks like bank has open their tab again.

---

Added on July 23, 2012, 5:31 pmYes sir!!

This post has been edited by yehlai: Jul 23 2012, 05:34 PM

Yupe. Loan amt 600k n pre approved 25k reno loan

---

Added on July 23, 2012, 9:33 pm600k loan wif 3 yrs lock in.

This post has been edited by dp82: Jul 23 2012, 09:33 PM

8000k.... must be an istana

Because the unit is below market unit?

OC had such reno loan since long time ago.

The approval of reno loan was based on their customer grading in 5 lvls.

Lvl 1 : up to 30% of S&P price
Lvl 2 : up to 20%
Lvl 3 : up to 10%
Lvl 4 & 5 : not eligible

Lvl 1 is not easy and very hard. Heard only assigned to self employed only.

My CCRIS was quite clean and facilities all '0' arrears. Only Lvl 3. But the rate is equivalent to P. Loan so, not taking it.

Is MRTA compulsory?

no

No idea y. Mayb my income no strong enuf gwa....

If you need to apply OCBC loan, you can apply from me.


We are agent who can collect document from your house.
0123092585

I also have OCBC housing loan. Every month i will pay extra RM200-300. But now i noticed that the extra I made all go to advance payment. I confirmed with OCBC cust service saying my instalment has been advanced till next year. meaning if I dont pay now till next tear also ok.

I thought whatever extra will go direct minus the outstanding principal??

Anyone can help?

Orang Cina Bukan Cina bank seem quite aggressive recently....

1. advance payment 2. principal repayment.

if u choose 1. , u no need to pay for next month instalment , if u pay 2x instalment amount on the month.

if u choose 2. , u still need to pay for the next few months , even u pay RM10,000 in the current month... the extra amount will use to offset ur interest payable ...

---

Added on July 26, 2012, 4:58 pmpersonal loan so low interest rate ? i tot around 8-9% annually ?

This post has been edited by steventan85: Jul 26 2012, 04:58 PM

Agreed. Strongest