The bankers that entertained you before is doing sales, so after-sales service must be his/her lower priority.

You should just walk in to any branch and get the LO printed out for a fee. But why do you need the LO if all you want to know is the principal and interests? Why not just ask for a LOAN STATEMENT? These are mailed to you every 6 months anyway, maybe update your residing address while you are at it?

Any branch and banker will do, since they are paid to serve you. The ones that dont serve you... well.. .you can ask to talk to the branch manager and escalate from there.

I tis true, because MBB full flexi product is actually a combination of OD and term loan. The installment would flucturate a bit if you pay into the OD account due to the fact that with OD you are only responsible to pay the interest, and not the capital (since you have already paid for it anyhow by dumping money into that OD)

The rates would be dependent on the loan amount, you can get 4.25% starting from RM500k loan amount.

Hope that helps.

Yes you can, although I would suggest that you apply for a change of name by getting a transfer. Transfer is cheap, you can do so at pejabat tanah, supported by the Letter of Administration. At the same time, you can also "finance" to generate capital if you have a good investment scheme to invest in

If you are buying underconstruction properties, there should be a list of panel banks that are the end-financers for the project. Have you found out which banks those are? You can apply to those banks, through the agents located at the sales galary, directly at the branches, and brokers as well. Based on recent approvals that I got for my clients, at 450k, you an easily get 4.35% rate with other banks.

As above, just find out the banks that are panel to the project and proceed with that.

Assuming a conservative DSR of 80%, and rate of 4.5%, both of which can be better, but for the sake of pre-approval calculation, I kept them conservative.

You are most welcome. I live here now, in the 2 threads.

Your partner? Okay so I assume that he/she is the opposite sex to yours; if he is, then it should be easy.

Malaysians working in SG can get loans from Malaysian banks, it simply takes a little bit longer (extra a few days) because it takes time to credit controllers to verify the cross-border documents

Can you give me his/her gross income without any applicable deductions, including the house rent?

As it is though, here is the calculation

1. You should only do joint-application if you can't afford to get the loan you want (or the house you want) based on a single application. As it is, your loan eligibility is pretty high, at above 800k, that is a big/luxury house even in KL. You can do joint-application no problem, especially if you need to buy bigger

2. There are 2 agreements, the Loan Agreement and the Sale-Purchase Agreement, so joint has different application ya.

This post has been edited by wild_card_my: Jun 7 2017, 12:22 PM

As usual, rate of 4.5% and DSR or 80%, which can be better, but for the sake of being conservative, we stick with these figures. He should start getting a few commitments in Malaysia to build his credit here, I recommend a few credit cards.

You are most welcome.

Wait I do not get your question. Are you asking about the minimum total payment required to start withdrawing, or are you asking about the amount to withdraw has to be multiples of RM1000 (like RHB)?

To reduce principle, directly pay to the loan account, it can be done over the counter, ATM, or online.

Advance payment on the other hand, just let the money sit in the savings account and wait for the monthly deduction.

the bank will consider two things:

1. Declared tax on Borang B
2. 10-20% of the average 6 months deposits in your company bank account statement

Some banks will look look either one, whichever higher, others whichever lower, but a tax payment is essential for an enterprise that is running a business (as opposed to those that exists for tax purposes for a contracted person)

Also, if you are running a business, the salary, epf, etc that is paid to you as a person from your own company is not worth anything to the bank; because as the owner of the company, you can manipulate your income however way you like.

Ah my mistake, must be due to the time.

Yes, as long as your income is documented by the company, and the company is in good standing (banks may run RAM credit checks on them), then you will get 80% of your income calculated as part of your gross income. No EPF deductions will be applied, but banks may apply its own tax table deduction on the income.

But you are in good hands. Just make sure:

1. Your payment vouchers are documented for the past 6 months
2. You can tally the nett pay on the payment vouchers for the past 6 months bank statement
3. You get a letter of appointment from the company
4. It doesn't hurt to show that you are paying taxes. Are taxes deducted from your pay?

Side note: For commission earners, or partial commission earners (salaried sales men with commissions), most banks will only take up to 80% of the income as gross income, the reason is that these income is not fixed... the same goes with rental and dividends (UT, ASB, Tabung Haji, company dividends etc.)

This post has been edited by wild_card_my: Jun 19 2017, 12:03 AM

The banker would probably use that to confirm:

1. Monthly installment
2. Match the loan amount with that on the CCRIS to confirm the installment
3. To check on number of borrowers if it is a joint loan
4. Based on 2, if your payslip has the installment stated in the payslip, the commitment will only be calculated once instead of twice.

A lot of good reasons to give the old LO/LoanAgreement to the banker. If you cant find the LA, you can try giving him the LO isntead

Sorry, LO is the Letter Offer from the bank. Loan Agreement, the LA, is the one you sign between you and the bank

The LO should have the bank's logo at the top, it is printed with the bank's letter head. You can use that in place of the Loan Agreement, usually that is what I request from my clients because not many people know where their LA is

You are most welcome. Drop by anytime if you have any further questions

Yes and no, it depends on how you define guarantor. Most banks are not keen on using guarantors anymore now... so they will ask for documents for the guarantors, but they will not be able to hold them liable for any payment defaults by the borrower

Now, going back to your question, B is the chargor, and not a guarantor nor applicant.. The chargor is part owner of the house but is not part of the loan agreement. No financial burden will befallen him or her in the case of a default.

1. In the event of a default and the preoperty is auctioned off, if the property is sold for higher than the outstanding amount, then you dont have to worry too much anymore about it as the bank would get their dues...

But to answer your question, yes the debt will not be transfered to B...

2. third party loan is NOT the same as joint application... joint application will take into account both the income and commitments of the joint applicant when considering to approve the loan... a chargor (part owner of the SPA but not part of the Loan Agreement) also known as B in your example, does not have his/her income adn commitments taken into account

3. In adition, the chargor "B" will NOT have the loan of "A" as part of B's CCRIS/commitment...

Here's the thing about auctions.. the reserve price that you see stated on auctions already covered the outstanding amount that person A owes the bank... in any case, person B will not be liable to the debt because he/she is not part of the loan agreement, not part of the debt. Person B would lose the house, which is the asset, but he/she will not inherit the debts

Best of luck

Semi flexi, full flexi.. well these are just terms that banks use to compare their own to another...

most banking products are now FLEXIBLE, meaning you can pay extra each month and the money will be used to deduct/reduce your borrowing/capital-outstanding, which is the actual amount that you borrow from them (which means it doesn't include the interest payments)

Now, for FULLY flexi, no 2 flexi products are the same:

1. Some have maintenance costs per month, others dont
2. Some have minimum withdrawal amount, other dont
3. Some link your mortgage account to a savings account, others dont

So how does a banker describe his product as full-flexi? i dont know, it is hard to tell. You need to ask all the details.