1. Most of the term loans now are flexi or semi-flixi, as such you are able to to do extra payments into the loans to reduce payable interest.

2. HSBC does have that ZEC package, but the interest is charged at BLR - 2.1% (and limited to loan amount of between RM300k to 600k if I am not mistaken), compared to up to BLR -2.5% in the market for the same loan amount. If I am wrong, others can correct me. I cannot speak for them, but I have spoken to my HSBC baker friends and this is what I got from them.

If your legal, stamp duty, and valuation (LVS) fees amounts to only about 2% of your loan amount, you can cover that "free ZEC" in 4 to 6 years by signing up with other banks; and then beyond those 4 to 6 years, your interest rates would be higher with HSBC compared to the other banks. The calculation is simple. interest is charged on a daily-basis, but it is calculated as per annumn. Here is a simple calculation which can be further refined if I have the time, the calculation is not ENTIRELY accurate because I do not take into account of the financing of the LVS as part of the total outstanding as well as the reducing balance of the outstanding as you pay your installments.



There is no free lunch in this world, HSBC package is good for those who are planning to dispose the property within less than 5 years of purchase, but if you stay with them longer than 5 or 6 years, you would be paying more interest to them due to the higher interest rates compared to what their competitors are offering. I don't mean to put down any banking products, and I apologize if there are any mistakes in describing the product, but as a holistic financial planner with a keen interest in mortgages, it is my duty to spell it out clearly since the bankers may not be entirely objective about their own products.

This post has been edited by wild_card_my: Dec 26 2014, 01:26 PM

Hi,

Allow me to answer this enquiry.

To qualify for this FREE zero moving cost package,

1. Loan amount 300k - 600k
2. For both under construction property, subsales
3. BLR -2.1% to BLR -2.2%
4. Lock in 3 years

It is good for those has limited cash flow applicant, no need to pay the moving cost.
It not zero moving cost package, like finance the moving cost into package, where you are still need to pay it together with your monthly installment.
It is FREE, and absord by the bank.

Thanks

The only bank that offer true ZEC right now is BSN.

Hi Guys, i am currently submitting for loan application.Understand that some of the banks did have some kind of processing fee. Anyone from here can tell the different for different banks charge?

For HSBC Loan, is there a chance of BLR -2.4% and also qualify for FREE zero moving cost package?

As currently I'm using HSBC Advance as my main bank for payroll, really would hope that I can also consolidate home loan with the same bank (reduces hassle of transferring here and there); but the initial proposed BLR -2.2% by the HSBC officer is a big letdown...

As a mortgage broker, I have Maybank, OCBC, Ambank, HLBB and Alliance as our panel.

Neither the banks nor I charge any kinds of processing fees.

don't think there is any processing fee application is not obligation for my understanding

but most of the mortgage ppl predict the rate is going up after that

Yeap, no processing and obnligation fees form my side.

Maybe, maybe not. Why does it matter anyway? Everything discussed are just speculation including the ones from myself. New year is just a few days away anyway so why not just wait ?

citibank offer ZMC flexiloan but rate only BLR -2.3 look good

http://homeloan.com.my/citibank/homecredit.htm

for more info https://www.citibank.com.my/english/promo/h...hback/index.htm



This post has been edited by asiatrader98: Dec 31 2014, 11:36 AM

Will submit and see their responses.

But still hope that HSBC can give me good rates la, at least BLR-2.4 or BLR-2.35

Don't really like the hassle of moving money here and there every month

Hi,

would like to inquire how much loan amount I could get from banks.

Age: 24
Gross Salary/mth = 4.4k
Credit Card outstanding this month = 350
No other loan repayment commitments

Is it possible for me to buy a 500k residential property (first house) ?

Thanks in advanced!

sorry, double posted.

This post has been edited by DanAct: Jan 3 2015, 04:33 PM

Hi, you are still eligible to buy.

500K
90% is 450K
monthly installment if 4.45% interest rate : RM2115.74
C.C RM350
Your DSR is still within <60%.

Looking to refinance. 500k loan. Please pm me the effective rate and fees involved. Flexi and islamic loans preferred.

This post has been edited by mrkenjiro: Jan 6 2015, 05:00 PM

Hi all,

Need advise as im toying with the idea to refinance or its better to stick to current loan.

Current loan is blr 5.55 (-2.1)
Loan start Jan 2010

Dear professional advisers,

Both of us are looking for house, my wife has no property and I'm presently servicing a shop lot's loan with another partner 50:50 (joint name).
What are the maximum loan margin we can get for the House under the below scenario?

buy the house in our joint name
buy the house with my name
buy the house with my wife's name (first time buyer)

Any difference with houses price above / below RM500K?

Thanks for your time and advice

Hi,

It really depends on what purpose of your financing
It could be:

1. Cash out spare portion
2. Revise better interest rate
3. Take up better package plan (eg from term loan to full flexi loan)

IF you wan 1 & 2, you may contact the bank staff to do your refinance
IF you only want 2, just walk in to the bank (your current loan bank), request to review your interest rate and counter offer the better rate. (subject for approval)
IF you also need 3, please contact bank staff to enquiry what is the package offer, from there you will know what package is more suitable for u.

Thanks

Dear All,

I need help here. 1st thing is i m first time buying house & not sure which bank housing loan can approve. my details as below.

Salary: RM2.5K(basic) + Commission(sometime earn sometime no)
House cost: RM30k
Year loan: 35 years
Age: 27 years old.
no commitment & pay credit card on time monthly.

Hi guys

Im looking for an advise here.
This will be my first property.
Im looking is there any way or method to get 100% loan ?

Age: 29
Basic salary : 3000
FIxed Allowance : 650
Ptptn : 19k with monthly paying Rm175
Currently staying in a rented room : 700


Property value that im looking at: 532k