Hi Everyone,

Enquiry for me.

Age : 27
Net income : RM3230
No commitments
Credit card : 500 Average

Loan amount : RM340,000 - 90%

I still confused as why bank still wrote in the agreement as "Term loan" instead of "Full Flexi" or "Semi Flex" loan. Standard?

* HLB Loan

The letter offer is a template that the officer normally will just print which sometimes you'll come across things like OD terms although you applied for term loan.

I'm applied for Semi Flexi but the agreement wrote "Term Loan". where the officer indicated it was correct 

Yea don't worry about it.

undercon

Hi All,

Currently i plan to refinance my home loan - any advise on best refinance package from bank

I got an offer from bank A, should i take it and sign it first ?

Or wait for bank B offer first and compare ?

If i had sign the letter offer, is it a must i have to take the offer ?

It's best for you to wait for the other bank offer before signing any Bank Letter Offer because it may subject to a cancellation fee if you decide to sign and take another bank offer subsequently.

I have the same questions too regarding on refinancing. you can pm me for more details. Thanks.

Thanks for the advice.

Unbelieved...after signed the letter of offer and document mid process. HLx making changed on the T&C that during constriction time any advance payments in the account are not allow to withdrew instead of so called Flexi...
How this possible...

thanks man

I have the housing loan with maybank, and maybank just did the first imbursement , now i receive the letter from maybank regarding the first imbursement and i visit maybank2u it shows payment due date as N/A. may i know when is the date i need to start to pay for the first imbursement interest?

1. Yes, it is quite acceptable. As an aside, the MRTA provider is almost always fixed for any givern bank with differences between islamic/conventional offers (i.e RHB using Prudential RHB islamic using Takaful Malaysia, if I am not mistaken since it has been quite a while)

2. the premium for MRTA, as per all insurances, correlates positively with the tenure and loan amount. The longer the tenure, the higher the risks since based on the life expectancy table you are more prone to dying and getting sick as you grow older. And of course, the higher the possible payout (or coverage), the higher the cost of insurances, thus the higher premium.

3. Area under the graphs dictate the price... the bigger the area, the more expensive the MRTA. Also included, possible MLTA, which can be more expensive due to the constant coverage.


terence_say is asking about the difference between the tenure of the MRTA, not the difference between insurance provider
It is on the higher side, but most banks do not like to do financing on below RM100k. You can still shop around but that is abot the rate you will get. The "typical" rate of ~4.6% starts at RM100k and above as per what I have done recently

For such Loan amount, such rate is quite reasonable

Hey, thank you Madgeniousfigo. To be frank, a number of people have complained about him to me, which I can prove of course (Whatsap, lowyat PM, etc.) - but only he wants me to prove the allegations.

Yeap, there is cases whereby it's limited to 70% of the balance outstanding, meaning if you took 100k loan and you put in 100k into the current account, only 70% (70k) is considered as prepayment, so in order to fully offset the 100k loan amount, you'll need to put in about 142,858 into the account to offset 100%

It has come to my attention that one of the brokers/bankers/insurance-agents here may be forcing the clients to take the MLTA when it comes to HLBB applications. This was brought to my attention by one of the people who view our topics here and have proceeded to apply for a loan from a service provider

I would like to make it clear that for the 4.4% (first 2 years) and 4.55% (remaining tenure) package offered by HLBB requires NO MRTA/MLTA. For this package, not taking any of the insurance policies would NOT increase the interest rates. Any attempt to force the client to take the insurance package, which so happened to be an MLTA package for that particular applicant, is wrong and the banker/broker should be reported to the bank for further actions.

The loan applicant brought this to my attention, so I thought that it would be wise to share this information. The suspect, as reported by the applicant who complained this issue to me is a huge proponent of MLTA packages for mortgages - which is fine, but please draw the line at the point where you DO NOT LIE to the client. I hope it is made clear to everyone that BANKs DO NOT force the applicant to take up any insurance policies, and the increment of the interest rates for not taking these policies, if any, is merely 0.1-0.2% and NOT 1% as the banker/broker/insurance-agents has claimed

If mods require proof of this complain, I would be happy to ask the loan applicant for his/her approval to share our conversation, or he/she can come forward and testify on his/her own

I can't valuate this way because this is just on the tenure and MOF.

I need the bigger picture which is the borrowers detail such as his income and commitment.

If you don't mind to provide the following

Gross pay
Nett pay
Rental Income
Bonus 2015 2016 2017

Commitment
House
Car
Credit card outstanding
Personal Loan
PTPTN

so I can see what really went wrong.

5 banks won't go with this property location. Choose another location.

Not interested to share my intels with you 2, simple as that. Do your own homework and don't be lazy.