Have you guys heard? There is a rumour going on saying that Bank Negara is telling all banks to abolish the lock-in period when you buy a property, for both new and existing loans, starting 1st July. So now the banks will counter this by raising the interest rates (from BLR - 2.4 to BLR - 1.8). So this is going to be a good time to refinance your property that has raised significantly in price.

I receive this news from a respected bulk purchase group over email today. I wonder how true this piece of news is ....

praying not to be true..if happen, trouble to the wallet..
btw, got source?

haiyo, please tell me is not true. if true, haiyyooo

OMG....any supporting source to read?

its fake news... dont simply spread rumor !

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Added on June 25, 2012, 3:10 pmraise in interest is a good time to refinance ? u dont even have common sense at all.... the standard disc rate is around -2.2 to -2.5 ... i would rather get locked for 3 yrs to get -2.4 , rather than no lock in period but -1.8 .... apply some common sense pls..nowadays a lot of brainless forumer trolling around ....

This post has been edited by steventan85: Jun 25 2012, 03:10 PM

old news isn't it?

For sellers whose loans are still under the lock in period, this is a great news. As one of the forumer pointed out, the news was announced last year but no subsequent news about it.

but they never talk about raise in interest rate. Zzzzz

Rumours? Did I said that this is 100% confirmed? Read the title of my post, I asked instead of asserted. If you know your England, you will know the difference between the tone of my post.

Quote from The Star news :

"Instead, banks will only be allowed to charge for the cost incurred in processing the loan and not for profit loss from the early settlement of the loan."

You decide......

Thought there is a news recently that states BNM is not going to raise the interest rate.

Not sure about the interest rate hike. This could be a counter reflex by the banks to cut losses. Hope BNM will really control this

Dont think the bank will rise the interest rate. I got a loan last month BLR-2.4 zero lock in, so I think the banks can live with that if BNM said so.

This post has been edited by ahsoh: Jun 25 2012, 05:11 PM

my latest housing loan also BLR-2.4, zero lock in..

[quote=steventan85,Jun 25 2012, 03:07 PM]
its fake news... dont simply spread rumor !


This is true new, when I talk to some banker few days back, but never mention about increase the BLR - XXX.

@abgkik

What bank offer zero lock in ?

some banks no lock in with BLR-2.4. some banks got lock in but BLR-2.5 depending on loan amount also.

Mind to share ? How much only they offer -2.5 ?

Wa so good offer now. Got -2.4 with lock in, but that was early last yr

what i remembered read was that they have no plans to reduce at the moment.. nothing was said about raising..
that is if my memory serves me well..