Hi bankers,

I just recently follow this forum 1-2 months ago when I started to look for a house for my own stay. Really learn alot after following the threads. I am having difficulty to get house loan that I need to give up my purchase of my dream house

To be frank I just clear my name from ccris and ctos. I only owe rm2k and i being put in such situation. I am not sure all the while even after clear the outstanding we can't apply for any loan. Most of the banks told me that bank negara recently very strict in giving out loan and I will need to wait for a year only can try to get loan again! Seriously after a year I can't afford any house at kl anymore as the cheapest now is more than rm500k. May I get any other solutions to get the house now! PLEASE HELP!!!

Thank you for your effort. I have a question here (scenario slightly different with your illustration)

Loan agreement amount in 2007: 280K (Flexible loan)
Outstanding amount as at today: 180K
Valuation as at today: 500K


Question 1:
Based on the new policy, if I refinance today,
- Loan amount up to 35 years = 280K or 180K ? If based on your illustration, outstanding amount is 180K. So, answer for this question is 180K. Correct?
- Loan amount up to 10 years = (500*90%)-(Loan amount up to 35 years tenure)


Question 2:
Based on the new policy, if I settle the loan first, with cash (180K). Then apply loan again right after loan settlement. Can I get 450K loan for 35 years?

Question 3:
What are the cost (amount in RM) involved for Q1 and Q2 ?

This post has been edited by propusers: Sep 14 2013, 02:44 PM

Q1. 35 years on outstanding ( redemption )

Q2. Loan on redemption still 180k
Cash out up to 10 years repayment subject to eligibility

Q3. Cost meaning ? Loan agreement ?
Or installments amount for both ?

Which bank provides best loan rate now?
So far, I hv checked with public bank, uob, maybank, can only give blr -2.4. Any one know other can give blr -2.45?

Loan amount about rm500k, for 20 yrs, subsales.

Huh? after i setttle loan with cash. Then apply a new loan again, it still 10 years? Are u sure?

if it is ctos less than 2k still can be salvaged.

if ccriss teruk for past 12 months, no one can save you

10 years... this should be the standard across all banks.

PBB and OCBC have already implemented it, the rest of the banks we have to find that out

with our latest promotion for subsales we are able to provide 2.45 but subject to t & c

apply new loan up to
35 years for residential
25 years for commercial

refinance
eg. property value 300k
your current loan outstanding 180k
redemption on 180k = repayment up to 35 years

cash out 120k = repayment up to 10 years

Hi Ben,

My ctos cleared with special remarks : account fully settle so my special attention in ccris should be cleared as well. i dont have any other commitment others than my 1 active cc which no late payment at all and still cant get loan.

More ridiculous, 1 of the banker told me even my husband get the loan my name still cant put in spa. After clearing my debts cant even have my name in any property? omg!

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

Hi Faiz,

Thanks for your reply. I will msg u the situation I face tomorrow.

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!

Glad to know got this "loophole"!
I want to refinance my fully paid (settled) property, agent pls PM me! Thanks!!

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!

PM replied!

Actually all bank is the same based on my understanding. Hoping somebody can prove it to me I am wrong.

If you end up taking up HSBC, please let me know.

mm..ur location is at seremban?

Yeah!!!! Seremban very near only.

Im looking for ocbc bankers who can process my 70k housing loan.. please do pm me..

Tq

I am looking for Housing loan, hopefully know more bout 100% loan for first home scheme, loan amount 400k

Hi would like to know what is the most competitive rate for commercial loan now? Being quoted at BLR-2.25%, is this good enough?