I didn't say cannot.........I am actually surprise and glad to know such transperancy.

The banker relunctant to entertain my friend question when the question was asked. Thought it is set and tedious thing to do.

Oh yes, like I said, it is important for financial consultants in Malaysia to be open, honest, and transparent about their products. The quotations for example, take only 30 seconds to make as long as you have all the necessary details.

Hi, it is difficult for a bank to accept a loan where the property is under liquidation AND it is MASTER TITLE
Majority of banks has policy to decline the loan where the property is under MASTER Title AND:

1. Liquidation OR
2. Developer has bankrupcy.

But since your property has individual title, it has NO effect on this.
However, this is based on the policy of the bank that I am worked with.
It might different from the other banks' policy.

Cheers

As long as the developer or that particular project is not known for horrible workmanship, properties with individual/strata titles built by developers that are gone can easily be financed by the five banks that I represent too. It's a general problem face by all banks across the country, that is the risk associated with accepting collateral that is under a Master title belonging to a company that has gone down under.

Only 1 bank that I know of could do such transaction: CIMB

Those looking for a good CIMB banker to finance such properties can ask for it here; I have a network of CIMB bankers just for such cases

This post has been edited by wild_card_my: Dec 16 2014, 11:33 PM

Hi all,

I am 25 years old.
Monthly gross income exclude OT = RM 3,850

Here's my monthly spending:
Car loan = 600
Insurance = 200
Petrol = 300
PTPTN = 200
Food (lunch only)= 150
Entertainment = 250

Wonder how much loan will bank lend to me to purchase my 1st home??
Seeking advice and learning from forumer.

Should be around this much, for some banks the OT can be included, but to be safe I suggest that for the purpose of calculating your borrowing power, that we do not include it. Do note that this is subject to approval by the credit controller so try not to borrow very close to your maximum borrowing limit.

Thanks for illustrative guide

House price keep increasing, is it better to purchase 1st if I have capability (apply loan under me and my gf name)

Noted. Let me help with the application if you need to find a broker who can handle multiple banks. My services are free, I get my commissions from the banks.

Hi Son, I always people NOT to buy properties with their GF / BF or Siblings

Only join to buy properties with your Legal Spouse. Else, when there is complication and the other buyer play hard ball, you are really in a difficult position.

But back to your question, if u can afford it and the location is okay, buying fro own-stay, yes, buy when you can afford it. No need to wait cos in long run, prices will only go higher

Yes I agree.
Safe run for both side.

Maybe 1st few year will suffer due to income not high.

I looking for refinancing my property in KL/Shah Alam, please pm me if you have such services

Edit : Will consider CIMB HomeXtra package as my current loan with CIMB.

This post has been edited by M2K2Land: Dec 19 2014, 05:17 PM

So starting from 2nd JAN 2015... BLR(BASE LENDING RATE) will be replaced by BR(BASE RATE)... so not sure is it worth applying loan after BR implimented..


http://www.businessinsider.my/base-jumping...rate/#.VJOuqsDA

To be honest, no one knows yet what the base rate is going to be. Will the effective interest rate offered by the banks remain at similar levels as it is today? I think so, but I am just speculating. The BR is probably going to be lower tha BLR, but the banks will offer it in the form of BR + xx%, and in the end, the effective interest rate would be around 4.4-4.8% anyway, just like it is today.

Again, that's just my speculation, best that we simply wait and see. People still need loans for their big ticket purchases regardless.

Hi,

I have signed the offer letter from bank for my housing loan last week.
Now i'm considering to change my job. Will it affect my housing loan?

Hi,
Some of the banks will do the employment verification when

1. Before loan approve
2. After loan approve
3. When the loan going to drawdown

It depends on bank's practise, if you want a very safe way, resign after loan has drawdown.

Cheers

Depends on the banks, sometimes they would give your employee a call during an application and/or after you accepted the LO, or even during the processing of the loan until the drawdown. It would be best if you could change your job after the drawdown, as the bank cannot hold you liable for you changing the jobs, they can only hold you liable for lying in the application form. But no one knows if an opportunity would present itself in the near future.

This is off topic but I'll post it here anyway: From my experience, it would be best too apply for the loan before you change your jobs because your pay on your payslips would be pro-rated, usually reduced, which is a sign of someone changing a job.

You don't need to tell anyone that you are going to change a job, it's your prerogative, but any signs of job changing may trigger a clause in the LO and loan agreement (set by the bank). In addition, I know those who successfully applied for a mortgage even after 1 month's worth of their full salary accompanied with the LO for the job.

No, it wont affect your offer.
no worries

they wont do after LO acceptance check on employment.

i wonder when we submit all the important document to the banker how they handle that document after applying...i mean either accept or reject the letter offer later? anyone can know th bank policy?

If you accept the LO, they will keep the documents for future uses like evidence in court in the case of mortgage default.

If you reject the LO, or the LO is expired, or your loan application is rejected, they will stamp those documents as void and it cannot be used for any other purpose anymore.

thank...

i wonder is there any term loan allow the extra prepayment to principle in the mkt?

and the HSBC is the only one offer the zero cost moving package

and citibank has this Complimentary Legal Fees + up to RM10,000 cash back


any comment pls share thank you

This post has been edited by asiatrader98: Dec 26 2014, 11:50 AM