I double checked with my handler. You made me doubt myself. I was right, the land and construction MOF is as 90%.

Now the OCBC website may say it's 80% MOF, but I trust my handler more than the website that may be left unupdated by the webmaster - which is normal for a static site that has little to update.

Let me reiterate: The land + construction loan from OCBC has a 90% MOF/MOA

Hi All Sifu'

I opened up a thread but no one respond so try my luck here

Need help as i was thinking to refinance my 8 yrs old apt and to use the cash from it to fund another house :

questions :

1. What is the procedure involved both from my side and the current bank ?

2.How to get my house evaluation ? cost and who bears the cost ?

3.Any other cost that will incurred to me ?

4.How long will it take for the bank to cash out the deferent's to me and in what form (cash/cheque) ?

5,Whick bank provide the lowest interest with the most facility provided ?

All the help is much appreciated TQ

1. First you would choose the bank that you want to apply to. I can help with that. Usually my clients wouldnt apply to more than 2 or 3 banks at the same time though, since each application will be recorded in the CCRIS and in your future loan applications all the banks would be able to see this "application record" and you could be deemed as non-serious customer. Word of advice: apply to just a few selected banks for this purpose. Like I said, I can help with that.

2. The house valuation will be done by the mortgage agents. I can help with that. Just tell me the full address, house type, renovations done and for how much, and what is the expected value.

3. Cost would be the new Loan agreement fees, valuation fees, and loan agreement stamp duty fees. All this usually account to 2% of the loan amount. However, most banks would allow you to add these fees into the the loan, meaning your loan would be 90% + 2~% = 92~%

4. The whole process would take between 2 to 4 months depending on your luck, and the speed of the lawyers. I can help with getting the better ones. The cash-out will be in the form of a check or a bank-in to your account.

5. It depends on the loan amount, the higher it is the lower the rates. I can help with that since I am empanneled with multiple banks.

This post has been edited by wild_card_my: Nov 19 2014, 12:48 PM

Bungalow land + Building for OCBC bank can up to 90%, credit to underwriter ,normally approved 80% ,but got 90% MOF successes case in previous record.

Thanks for the backup.

still available ? up and running ? i dont get what u mean bro..

which branch u located at bro ? I have approached till KL MAIN BRANCH MANAGER and they said for business premises they just have term loan no fullflexi.. if its so how can u be very sure that they have fullflexi..

i have doubt here.

This post has been edited by GHOSTVIC: Nov 19 2014, 09:34 PM

Thanks bro will pm you later

Hi All,

I would like to ask regarding housing loan.

Since i am a first time buyer I am a bit blur about the whole process.

right now am in d midst of applying loan and last night i got a call from CIMB and they said they need my other saving account statement to know that i have enough saving in the bank which i dont have.

I do have saving in one bank but not so much less than 10k. They said it is not enough to support the loan.

What should i do to get the loan approved? pump in again some money and print out the current statement?

Does all banks will need this kind of requirement?

Hi, you could ask your question here in detail and I will answer them point-to-point so everyone reading our exchange could benefit, or you could give me a call or send me a text and Ill explain to you privately.

1. It's normal practice for CIMB to ask for your savings account, and they will scrutinize it for whatever reasons they have. That's their way or looking into their customers' loan worthiness. But let it be known that this is not the practice of other banks. For example, OCBC, Ambank, and Alliance would not need to look at your savings/current account unless for some reason something is amiss.

I have had one client whose application to XXXX bank was rejected due to his wife (not an applicant) current account with the XXXX bank not meeting their criteria. I still cannot fathom why this XXXX bank needs to care about the applicant's wife's CA/SA account well-being.

2. Well what to do to get it approved? I don't know, best answer should come from the CIMB officer himself, but alternatively I would say to let me help you with the application to the other banks as I am empanneled to about 6 other banks.

3. Is this a sub-sale or a developer-new-house? Because there is no reason that you need to stick with CIMB

This post has been edited by wild_card_my: Nov 20 2014, 10:30 AM

Thanks lot for your prompt reply. I do apply to other banks like RHB and Hongleong. Muamalat about to submit all documents by tomorrow.

So far other banks that i have submitted have no respond.

As you said, i dont think i will stick with CIMB.

Anyway this is a new development house.

Noted. Let me know if you need other help.

Hi, is there any UOB bank morgage loan agent here ? i am looking for house loan at uob ~

I am planning to do refinancing for my home. What is the step that I need to do ya?

Mr.Yap - 0129269498

You need make an appointment with him at his branch.

1. First you could contact a banker or a mortgage broker such as myself.

2. The person you contacted will need to value your house, you can get up to 90% of the valuation as your new loan. That figure minus your current loan outstanding would be your cash-out portion

3. If you are happy with that you could meet up with the person to draw up applications for a few banks (if you go to a banker you would need to meet a few other bankers as well)

4. Then sit back and wait until the loan is approved.

5. If you are happy with the terms, sign the letter offer and let the lawyer do their things.

I can be contacted from my sig below

Thanks bro. I'll check with a few banker first. I'll let you know if I need your service.

Which bank is good in term of their loan policy and service of the bank? RHB, HLB, or CIMB?

I personally prefer the Chinese banks of Public Bank and Hong Leong. Ive had bad experiences with CIMB and (like usual) MBB.

But then again pretty much every service quality is tied to the type of branch that you go to. If you go to the branch where the manager really cares about their customers, then good for you.

My favourite PB branch is the one in Subang Jaya SS15. Hong Leong: Kota Damansara.

Having said all that, the best services Ive gotten are from OCBC Branches...maybe because there isnt too many people there? Haha

Thank you so much for your feedback. I will consider Hong Leong then. My loan just got approved by those 3 banks so I need to make decision on which bank should i sign the agreement with.

do note that different banks have different clauses in their loan agreements, such as redrawal, principle payment amounts, lock-in, default rates, etc. these are important things to consider.

in terms of service, i gotta agree with wcm. totaly depends on the branch