good day all.

have something regarding mortgage loan to ask.

thinking to get the third property which is around 800k. I have 2 properties at the moment and i'm 37,

Apartment - outstanding loan around RM100k (market value around RM380k)
Town house - outstanding loan around RM150k (market value around RM370k)

EPF account 2 can take out RM120k to settle loan

Gross pay RM9200

Credit card debts - around 15k

How much loan i'm eligible to take from bank.

Thanks in advance.

This post has been edited by 0saka9: Dec 14 2014, 01:46 AM

Hello,

1. Can you give me the ORIGINAL LOAN AMOUNT for all your loans, including the 2 houses, personal loan, and hire-purchase (if any)?

2. So you are planning to use the EPF account 2 to settle the loan for the apartment?

3. Can you also settle the RM15k credit card debt? This will help a lot since 5% of RM15k = RM750 monthly commitment. This is how banks calculated for your monthly commitments for the credit card (5% of outstanding) which is A LOT

4. Any received bonus or dividend in the past 12 months? GIve me the gross figures before deducting statutory deductions (EPF, SOCSO, PCB)

Once you can get back to me with the numbers I can give you a more accurate calculation

Ask on behalf

2nd house : rm900k.

Monthly around 8k before deduct elf and tax.
Monthly commitment car loan 900. House loan 2000.
Wife income around 3000. Car loan 700.

What's the max amount this guy can borrow the loan if he wish to get max loan. Monthly installment is how much. Any bank recommend ?

Hi,

can you share with me the ORIGINAL LOAN AMOUNT for the house and car loans for these 2 applicants?

Thanks

Hi, please see my above reply... Thanks.

1. As far as the banks are concerned, as long as the loan is still on-going, the full installments would be considered as part of your commitment, the current outstanding amount has no effect on your installments, as such my calculations for your commitments will take these facts into account.

2. Noted, so could you settled this 15k in credit card outstanding using your own cash? If you could, this would significantly reduce your monthly (calculated by the bank) commitments, and increase your borrowing power

3. If you think the maximum loan figures are too small, I would suggest that you settle one of the 2 outstanding loans that you have using the EPF, and pay off the credit card outstanding balance. In addition, if you settle one of the loan accounts, you would be able to apply for a loan for the 3rd house at 90% margin of finance (MOF) as opposed to 70%

I am calculating for you twice, one as is, and another if you could do as I suggested. And most importantly, everything is subject to approval by the credit controllers.

As is:


If you do as suggested:


This post has been edited by wild_card_my: Dec 14 2014, 04:57 PM

Thanks for your professional advice, will contact you again when needed.

I just got a loan, around 630,000
35 years, -2.45% fixed, is it acceptable? Anything else I need to look out for?

I am looking for banker around KL/PJ area for a property loan, could you pm me here?
Thanks.

C S Chong

hi all, want to ask something regarding loan issue here...

i own a property, a double storey terrace house, already got individual title and CF, property is still under bank loan...recently i plan to let go of this property, but my friend (a property agent) told me that my property may have some loan issue...

he say due to the developer of the property had went into liquidation, so it's very hard for the potential buyer to obtain loan from the bank(s) as most bank will just reject it...is this really the case? anyone has experience this before?

kindly help me on this matter here...thx a lot...

i am not sure if i read it somewhere they will be no more blr- in future loan, but based on actual bank negara + bank profit is this true or how will this affect the loan borrowwer?

Acceptable, -2.50% is pretty much the best for the general public, -2.45% is OKAY. Is MRTA forced upon you or could you opt out? You may consider MLTA. Even if they force you to take MRTA, maybe you could ask if it can be reduced to the minimum allowed: usually about 5 years. Only do this if you would consider getting MLTA instead of MRTA


Yes, if the developer has gone bankrupt while the property is still under the MASTER DEVELOPER TITLE (hasn't been transferred to individual/strata title), then the banks would be less keen, or outright impossible, to finance the property on your buyer's behalf.

However, I can arrange a bank to help your prospective buyer. If you decide to sell, and have found a buyer, you can ask that buyer to call me so I can help him with the loan application.

Yeah, in a way the interests will not be calculated using BLR anymore. No one knows what the future beholds, since they havent announced their new rates yet. Those who signed their loan agreements using the old system will maintain using the BLR which will run concurrently along with this new interest rate system. For some banks, the deadline for the submission of new applications to use the old BLR system has already ended, newer submission would be using the new system

hi wild_card, 1st of all thanks for clarify this for me...but what if the property title already transfer from the developer to individual? will the buyer still find difficulty to obtain bank loan? thx again...

of course not! if it has already been transfered to individual/strata, then it the developer has no bearing in the transaction anymore!

alrite, understood...if i got potential buyer in the near future and he / she really had problem with the loan, i will get contact with u...and thx again for the help...

Thanks for the information Wild Card. Yes MRTA is included in order to offer me the -2.45%, it was reduced to 9 years though.

Noted. Let me know if you need quotations for the MLTA.

can get quotation one meh？？？ can lesser or not and choose package

Can you explain why the client cannot ask for a quotation? They have every right to know the kind of contracts they are going to get into. Financial planners in Malaysia need to be more transparent about how they conduct their businesses.

Project? If new project u let me know what's d project name. We might offer 2.5