Based on your income should be okay to get if 90%

You can improve your income further if you got
Side business
Part time job
Rental income
Asb

The dsr is based on your income range so for your income level will be around 70%

You're asking about refinancing I guess?

1. There are some Banks offering zero moving cost if you loan more than a 500k. Otherwise the moving cost for 1mil should be no more than 20k.

2. It depends on your age but assuming with 35 years tenure it will be around 4670 per month

3. Other fees would be mrta or MLTA

Hi there!

Based on your details provided you can loan up to 1.8 million

So a loan to purchase 1 mil should be okay

Loan eligibility will varies from different banks depending on your salary

Interest rates will varies from bank to bank also depending on your loan amount.

a. If your loan amount is 400k, the current interest is 4.35%.

b. If above 500k, you're entitled to the lowest 4.3%.

Things you need to consider when buying a property
1. You need to consider legal fee cost and stamp duty to be paid when you purchase a property. Which is normally about 5% of the purchase price.
a. Determine who to include in Sales and Purchase Agreement and Loan Agreement.

2. You need to consider mortgage insurance when you obtain your loan to secure your property in the event you are no longer around or fallen critically ill. Your mortgage insurance will pay off your loan. There is MLTA and MRTA in the market.

- source from iMoney

3. I will need to analyse your personal document and check on your CCRIS and CTOS to make sure that your loan will not encounter any issue such as late payment, special attention account and bad repayment history.

4. Feel free to let me know if you have any further questions.

actually makes no difference now as the banks are quite competitive, some even getting up to 4.25% now.

Depends on certain banks, nowadays the bank will require you to purchase a minimum MRTA to get the loan, otherwise they will impose higher interest rate / don't approve ur loan.

4.2% is only for the first year @ fixed rate, subsequently it's 4.4%.

This is offered by Hong Leong Bank

Regards to the closest to 4.2% will be 4.25% which some ppl managed to get it.

No free gift aside from that, comes from their own pocket

There is so such things as cash back value. It's how those agent would cut their commission to give it to you back which I do not condone such unprofessional scheme to solicit business.

This is unacceptable in the code of conduct of an insurance agent and will be immediately terminated by the insurance company if found out. It's not okay and we need to say it's not okay otherwise why be called professional when you can't even follow the codes properly.

If robbing someone is okay if someone else is doing it does that mean that it's okay ? Do you have to be competitive by robbing someone else to justify that someone else does it so why can't I rob someone ?

Want to opt for something better ? Then be more professional rather to spit at the name of professionalism with discounts, freebies, etc which does not associate with professionalism.

Bank officers might not be a professional job but if you're seeking for good advise then be prepared to be professional about it rather than taint the title of Professional with discounts and rebates. It just doesn't jive, you don't associate Premium & Cheap when you go to a store. Would you go to a top tier shop and said to the store owner, I want to look for the most premium Ginseng @ RM1 and discount further please ?

If it's what is being offered by the bank as stated in their brochure then it's fine but if such offer had to whispered through your ears with "Hey if you sign up with me I'll give you RM200 back from my own" then it's clearly a wrong conduct and obviously you do not know what a bank officer is bound by the Banking Act for such actions. There are somethings that can't be done then it can't be done no matter how you try to turn it to the left or right.

If you're talking about outsource then by all means as long as they have not sign up with any Banking Act. They can give you everything they want, if they would like to remain this way as part of their business model operation then we can't stop them. We can't stop someone who wants to give away his money and build his reputation such as that. However if you're attached to a bank, then you represent the bank and if this conduct is permitted, what example is it telling to the other employees and the reputation of the bank ??

And no, you don't have to ask me to mind my words if you're not up to discuss about it.

Another example of wrong doing being conducted in the industry.

This post has been edited by lifebalance: Oct 24 2016, 08:03 PM

Sorry I won't bend my back to ppl who think a wrong is right. Clearly you're trying to make things worse by approving such act.

Clearly you didn't read the discussion that we're having, as I mentioned my example is with a direct bank. If your outsource firm would like to provide such gifts and vouchers then it's fine. I won't be stopping your business to do that if you need to be on a "competitive edge".

Calling me to think narrow, can't fathom how other ppl can do a better business than me is being so judgemental and clearly you don't even know me and just dish out negative words just because we haven't been in good terms. You're not in a very good position as well to say that. Anyways I've enough of this discussion and will definitely be the last of it. Thanks

Sole prop you'll need

SSM (business must be above 2 years)
IC
6 months current account statement
Income Tax 2 years
Booking Form

Income tax need. Otherwise will consider from the current account statement. Which might be based on percentage which might bring down your overall eligiblity as the % used might be used based on the industry of your business. If you got declare higher income tax then it'll be better to use the income tax

Normally the SNP and Loan already given free by the developer then you got no choice but to use their lawyer

If the spa is free but loan is not but they'll tell you that if you use the same lawyer for the SNP then they will offer you discount

Its up to you to decide if you prefer to use their lawyer to save cost or to appoint ur own lawyer

Yes the developer

Normally it'll be the panel lawyer of the bank

Hi Bro

Based on ur commitment, can't take up any other loan as your owing to the bank is quite high especially with your credit card commitment

If you can settle off some of the debts then can help Abit

Ya normally bank only take 70 to 80% of the rentals income.

If you want to loan 90% of 235k you'll need to fully pay off the CC outstanding to afford the loan

There isn't much analysis but copy paste of lengthy post with basic information actually.

My advise for you is that if your dsr is on the verge of burst, I don't recommend to take loan further unless you're comfortable with the commitment that you're committing to every month

Alright

Will be around 4.25 to 4.3% for 730k loan

Mbb pbb rhb CIMB

1. It will depend on loan profile such as ccris and ctos and salary range and company you work in

2. Nowadays it's all semi or full flexi loan

2.1 the rate on full flexi loan could be high er by 0.05 to 0.2% depending on the bank