I need to check on that, I may sound biased if I say OCBC is the only one that offer DSR as high as that, but I dont know of any other banks that offer the same

As for the DSR, it means the portion of your net income that can be used as loan repayment. So if you have high commitments, or you need to get a bigger loan, going to banks that can give you higher DSR % can help you.

Exactly, you got it!

And thanks for the update. Time to try selling CIMB products hehehehe.

Well if you need help in any way finance-related, do tell.

Have a good one.

Here is OCBC and OCBC Al-Amin's DSR limits:



It will be quite the hassle because:

1. You will have to have a lawyer to prepare an agreement, that you would sell your share to your wife, new Sales-purchase Agreement (SPA) fees, can be expensive

2. You will need to source for a new home loan because the owners have changed, new Facilities Agreement (legal fees)

50% isn't that much actually, if you are buying a house that cost RM550k, the stamp duty for the SPA is RM10,500. So in this case, you would get a discount of 50% or RM5,250. The cost of the new SPA and Loan Agreement would far exceed that savings

Hi, at that house price, you can confirmed get:

1. BLR - 2.35%

2. 35 years tenure if you are younger than 35 years old

3. 4% for legal, valuation, and stamp duty fees

4. Up to 10% for MRTA/MLTA, or you can choose not to insure this liability

5. Option for renovation loan for up to 30% of the house price, at the rate of BLR - 0% = 6.6%

6. No lock-in period

I hope that my bank has a better offer than the ones you already have gotten, in that case, and if you are interested, we can meet up tomorrow at, say 10AM (?) near Kelana Jaya.

You can reach me through email or phone number listed in my signature. Thank you

Yes they can.

1. Tenure limit is up to 35 years long, or until borrower reaches age of 70 years old (for OCBC, other banks may have a different age limit, but none that I know of is higher than 70 years old)

2. But that fella needs to have an income of any form:

a) Rental of property
b) Dividen from shares
c) Distributions from unit trust
d) Director's fees
e) Salary (perhaps he continues working in the private sector)

3. Banks don't really care about YOU per se, only that you cannot be past 70, and must have recurring income to repay your debts

My pleasure!

Helo Annas

1. For that loan amount, you can get BLR - 2.2% = 4.4%

2. Refer the table below for information on your other repayment

3. Keep note that I am assuming that you are younger than 35 years old and that the income you stated is your net income, which is your gross income minus your EPF.

4. Also, please get a credit card or any form of cheap loan so that you can start building your credit history in CCRIS. Banks prefer customers with a CCRIS record than ones without one. But make sure it is a clean record!

5. The calculation done below is pending approval from the bank. Treat it as a rough figure of your capacity to secure a loan, but nothing is guaranteed.



Hello

1. When we talk about net salary, we are referring to your GROSS SALARY plus FIXED ALLOWANCES , deducted by EPF, SOCSO, and PCB (tax). So in short, if your gross salary is 3k, it is not likely that your net salary is 3k too...

2. Now, please, do yourself a favor and get a credit card. In fact, get 2 credit cards from different banks. Or if you need a car, get one now. You see, banks prefer customers that they can measure up, to do so, they need to see their potential customers' CCRIS record.

If you do not have any CCRIS record, you would be classified as riskier than those who do have a CCRIS record (a clean one)

Obviously I would have you pay your debts on time so that you CCRIS record will be BEAAAUUUTIFUL.

3. Take a look at the table below. I really am not sure how much your salary is, but I made an example of someone with RM2995 as net salary, and another person with RM3005 net salary. Btw, do note that BONUSES can be included into the net salary calculation!!!

4. Debt-service ratio tells you the portion of your net salary that can be used as debt-servicing. This debt-servicing amount includes your current repayment-commitment to all registered financial institutions, as well as the new loan that you are applying for.

For example, if you have a salary of RM4000, with OCBC, your DSR limit is 80%. That means up to RM3200 can be used as debt-repayment. Let's say your current loans takes RM2000 for loan-repayment, that means you have only RM1200 left as loan-repayment for the purpose of getting a new loan, for example a housing loan.

As such, it is great to have a bank that can offer a high DSR-ratio limit!



This post has been edited by wild_card_my: Aug 26 2013, 04:12 AM

That one's link is down. Try this

I can help you with that.

For that house price you can confirmed to get BLR - 2.30% with legal, valuation, and stamp duty included into the loan.

I have a number of banks under my wing and can probably offer rates from them too. It's only that only OCBC can give fixed and guaranteed rates.

Hello, I am Faiz

1. For that property price, you can get up to BLR - 2.45% depending on your risk profile and up to the bank's approval

2. legal, valuation and stamp duty fees can be included into the loan

3. I have 5 banks under my wing, I will look at your profile and recommend the best 3 that is suitable.

Hope to hear from you soon.

hello. Can you share with us the purchase price for this property? Interest rate is usually based on loan amount

Thank yoy

Helli, I can help you with that. I have 5 banks under my wing, I just need to know more about you and your property. You are welcome to contact me through email or call me and we can set a good place and time to meet.

Thank you

Purchase of loan document? What is that?

Actually, many people will call you out of the blue for your services after you have helped others with their questions. I think people who are asking or saying "PM me" or "I'll PM you" are doing it wrong.

I can help:

1. So you will want to do joint-loan

2. So you have no other loans at all? Zero? What about a credit card?

A credit card is good

1. You see, theproblem is when those without a single record in CCRIS, they try to apply for a loan and when the bank looks at their CCRIS, they can judge if the applicant is a good paymaster or not.

2. Having a credit card is a good thing.

3. Call me if you need me to process you loans, or ask away if you need to know anything else.

1. Good, then your CCRIS record is splendid

2. DO share, your net income, that is your income plus fixed allowances, minus your EPF, TAX, and SOCSO (or the Singaporean equivalent)

3. Then I will come up with an illustration as to how much you can apply for.

1. The conversion rate is 2.6 with the bank as of today

2. Calculation based on you being younger than 35 years old, so you can borrow all the way to 35 years tenure

3. Please let me do your financing as I have a number of banks under my wing



This post has been edited by wild_card_my: Sep 3 2013, 12:39 PM

Masjid Jamek, KL

OCBC does offer loans to anything bellow RM100k

1. The rate will be BLR - 1.8%

2. Maximum tenure is 35 years or until you are 70 years old

3. How old is the flat? Does it already have a Strata title?

Hello,

1. May I know the name of the project, and name of the developer?

2. Combination of the salary. No problem.

3. Typically the rate should start from BLR - 2.35% and it goes up from there. I will apply for you a number of banks to get the maximum value.

4. Have you paid for the booking fee yet?

Hello, I can help you with that:

1. I have helped clients get loans for Empire Studio before.

2. I have 7 banks under my firm's wing, I'll help you apply to 3 that is most suitable for you. On that note, don't apply to too many banks, as each bank will see your application from the previous banks and will think that you are simply playing around.

You can call me at the number in my signature below for quicker services

Hello Azri, please allow me to help

1. Would you like to apply for the 100% first home scheme? I do that for my clients all the time.

2. If you apply for 90% loan, there cost for the Legal, Valuation, and Stamp Duty can be included into the housing loan.

3. I have 7 banks under my firm's wing, can help you apply for the one that is most suitable for your risk profile, level or commitments, and salary.

4. Call me at the number in the sig below for swift services!

And 40 years tenure too, despite BNM's directive that all loan tenure to be capped at 35 years; but all power to the agent!

But eh, why not try other banks too while you are at it? I can help you with that!

haha yeah i thought it was an overpromise..

Hello!

You are correct in that Islamic Loans have a little more documentation needed than conventional, but the number of extra documents required depends on the banks and products.

1. This is the typical list of documents required for conventional housing loan:

For Master-title property:
a) Facilities Agreement
b) Deed of assignment
c) Power of Atoorney

For Individual-title property:
a) Facilities agreement
b) Charge annexture

2. Islamic housing loans documents differ from one bank to another. For example, RHB Islamic requires up to 6 documentation.

3. Now, this is why OCBC Al-Amin is quite awesome (according to the lawyer that I deal with). For OCBC Al-Amin, everything is the same as conventional except for one document:

For Master-title property:
a) Facilities Agreement
b) Deed of assignment
c) Power of Atoorney

For Individual-title property:
a) Facilities agreement
b) Charge annexture
c) Asset purchase agreement <--- the only extra document required for OCBC Al-Amin's Islamic Housing Loan

4. The Asset-purchase-agreement only cost an extra about 5% of the legal fees. For example if your legal fees is RM4000, the Islamic loan is only merely RM42000. But the fees differ from one case to another (is it Master/Individual/Strata title, Lease/Freehold? etc.), to get the exact fees need to do quotation.

5. I hope this helps EVERYONE reading this. Also if you need recommendation for a lawyer, just ask That guy is panel to most banks in Malaysia, and work super-fast (according to my housing loan clients, and they are happy!)

Have a good day everyone! I'm off to my honey moon! Flight is tomorrow morning!

This post has been edited by wild_card_my: Sep 11 2013, 06:36 PM

Can, local-based honeymoon only. 4 days till Sunday. Monday back to work!

I'm replying to you on my honeymoon eve, I'm serious with my work la.

Hello,

1. The board rate with OCBC is BLR - 2.35%

2. Tenure can be had for up to 35 years if you are younger than 35 years old

3. 90% MOF of the estimated valuation (I haven't done the estimation yet) shouldn't be a problem if your CCRIS record is commendable

4. I have Maybank, OCBC, RHB, CIMB, AMBank and Alliance Bank under my firm, I will match the right profile with the right bank.

5. Hope I can serve you all the way to getting your house.

Thank you.

If I am not mistaken, all banks have started doing so already.

As far as I know, OCBC and Maybank already implemented this.

Yes and no

You can read more on the issue here as I have posted a comprehensive reply: https://forum.lowyat.net/index.php?act=ST&f...t=2889496&st=0#

Hello everyone, I am Faiz, and let me clear some things up

1. Recently BNM has set up a guideline to reduce the maximum tenure for personal loans to 10 years. This is done to curb increasing household debt and irresponsible or needless spending (wedding receptions, vacations, home appliances) by the Malaysian public..

2. Unfortunately, the cash-out portion from a refinancing is now considered as personal loans, because borrowers are mortgaging their property that has already been partially paid to get cash that can contribute to needless spending as per above.

3. So now, when refinancing:

a) The outstanding amount from your current loan as well as the redemption fees can be refinanced to the maximum tenure that is available to you (i.e 35 years or until age of 70 for most banks)

b) Anything extra, that is the cash out portion is limited to 10 years.

c) For most banks, the cash-out portion gets the same interest rate as the refinanced amount

4. So essentially, the best reason to refinance is to lower the interest rate from the old rate that you signed up with to the new rate.

5. However, it is not a bad idea to refinance to get some cash along the way because the rate is still significantly lower than the typical personal loans.

6. All BANKS as well as FINANCIAL INSTITUTIONS like MBSB has to follow this new rule. It is only a matter of time between now and the implementation.

7. As of now, the list of banks that has already implemented this rule are:

OCBC, MAYBANK

The banks that have yet to do it but confirmed to are:

MBSB, AMBANK, HSBC, STANDARD CHARTED

Everyone, I am a mortgage consultant. Self-professed, sure, but I am not an agent nor broker. I talk to my clients, discuss with them on the best methods to get a loan, indulge them with industry-related news and tangos, and my motto is share share share. Share with everyone on how involved I am with mortgages and I know you will come calling. So do call if you need to buy a property and need some help securing loans.

Check out my other threads down below to understand more about mortgages, don't forget to ask questions:

1) https://forum.lowyat.net/topic/2671761/+40

2) https://forum.lowyat.net/topic/2759418/+440

Thank you

Hey people, I have made a small illustration on the impact on your refinancing of the outstanding amount and the cash-out portion between the old policy and the new policy



This post has been edited by wild_card_my: Sep 14 2013, 10:39 AM

The record in CTOS will stay in there for 2 years. The banks will know how much you had owed to these institutions.

1. Some banks look at CTOS while others do not

2. Some banks, like OCBC have an upper limit for CTOS. For OCBC, anything in CTOS for RM2000 and bellow is OK. Anything above RM2000 and your application will be rejected.

3. If you have closed the loan account the record in the CCRIS will clear as well. Once this has happened you can start apply for a bank loan.

4. If you need help apply for a bank that don't look at CTOS, do talk to me. I have them with me. In fact, with 8 banks under me, let me help you with your loan application as a whole. I'll look at your financial records and tell you which one is best for you.

No one is sure about this. Everything is so new. I will check these up to morrow and share the wealth of knowledge with all of you here.

Hello,

I have Maybank along with 8 other banks with me, and Maybank in particular can offer BLR -2.45% for you. We can try applying with another 2 banks just so that you may get your best of offers.

Do call me up and Ill be right at your door.

1. Hello. Loan amount for 35 years will be on the outstanding amount. Hence, it is the 180k. Hey, you are correct! See? I make sense right?

35 years: 180k
10 years: 270k
Total loan: 450k

2. Ah, this one I will get back to you later ya. Just a side note, are you going to refinance this as the same name? Or joint? Because maybe got loophole if the house has 1 name and the new "refinancing" loan uses 2 names. We need to see...

3. The cost? Well,

a) for Q1 it will be the legal, valuation, and stamp duty costs that can be included into the loan

b) It will be the redemption cost with the current bank, plus the legal, valuation, and stamp duty costs that can be included into the loan

4. I hope all of you guys can spread the word about me and my personalized services. If you got friends, family, colleagues planning to buy a property or refinancing current ones, I am the man to help

No problem, glad to help.

Good luck tomorrow.

Good news, everyone! I have managed to dig some info on this, sorry that it took a while, everything is so new, some banks haven't even implemented the new policy yet and what not.

From what I have gathered, in the situation where you have completely finished paying for your housing loan, be it in the form of lump-sum payment to the old bank or you paid it off as per schedule:

a) The property is then free of encumbrance and can be charged to a new or different bank
b) The new loan will be considered as a new property loan, so that means the tenure limit is set to the maximum of 35 years

So in your situation, if you settle the loan first with cash (RM180k), then apply for a loan by mortgaging the house, you CAN get RM450k loan for 35 years.

I know that you guys are thinking that this is ridiculous, but Bank Negara simply wants to control the credit levels in Malaysian households. The good news is that there are loopholes that we can take advantage of.

If any of you guys need, or know anyone (family, friends, colleagues) who need to do anything related to properties and mortgages (buying a new property, refinancing, top-up) you and your contacts can talk to me. I am not simply a mortgage broker, but I consult my clients on how to get your loans, how much can you expect to get, and explain the high-and-lows of getting a mortgage!

Hello,

Allow me to help you.

1. As you can probably see, I try my best to help my clients when it comes to financing their property purchases or refinancing and re mortgaging their properties

2. I have 8 banks for you to choose from: Maybank, CIMB, OCBC, Ambank, Alliance, RHB, Public Bank and Standard Chartered, so I can be your one stop service.

3. I will match your property, risk profile, income and commitment levels to the bank.

4. I hope that throughout this thread I have shown my professionalism in mortgage management for my clients.

Thank you!

Hello Vincky! I am Faiz and I can help you get that 100% you want.

For 100% loan, there are a couple of criteria, namely:

a) For single applicant, the loan gross income must be less than RM5000, for joint-loan application, the combined gross income must be less than RM10,000

b) The house price has to be less than RM400,000

c) You can buy both under-construction and sub-sale houses, no problem

I have successfully processed a number of 100% loan schemes for my customers, so you will be in good hands.

I also have a lot of banks under my wing, so I can match your risk profile with the suitable banks for your loan application.

Hope to hear from you soon!

What is the loan amount?

Best Ive done a few weeks ago was -2.2% :|

Hello!

1. Okay, will get back to you with the valuation. But I need some input when it comes to this property:

a) What is the house type? Is it a double-storey terrace intermediate or what?
b) What is the expected selling price?
c) The 1200sf that you gave is that the built-up area (area in the house) or the land area? If it is one, then what is the other? Need this for valuation
d) Is there any renovations and extensions done to the house, please be detailed.

2. Okay, so the CTB is a CityBank credit card right? I assume you pay at least minimum on time every month? If yes your credit record should be good then.

3. 100% loan is my speciality. I have done a number of such cases. Let's do this 100% loan.

4. Your gross is RM2600, then I think your net income is roughly RM2300. Correct?

5. Are you below 35 years old?

6. Magic below. So lets do this. I have multiple banks under me, I will give my best shot to help you:



This post has been edited by wild_card_my: Sep 20 2013, 11:30 PM