The trick was to hold the old campaign rate despite the bank having change the BR and spread as discussed below. I won't share too much because this is a behind-the-scenes trick.

Insurance agent,

I have proof of my success rate of gettin the 4.15%. Do you have proof of one without editing the letter offers. Save it, as proven many times before, you are not trust worthy. For example, you have been caught plagiarizing external articles and pretending that you wrote it on your own.

Here's my proof of the 4.15%, when the letter offer was issues, the BR has already dropped and the spread increased, but I still managed to get 4.15%. This bank's BR is currently 3.88%

That is a given - everyone knows that. The rate offered to you is highly dependent on the borrowers' credit rating and loan size. The question is what is the best rate in the market, regardless of your situation.

Btw the borrowers that i got 4.15% for are not high net worth customers. One of them has an income of 8k net

p/s you need to work on your quote-formatting

This post has been edited by wild_card_my: May 25 2019, 11:30 AM

HLBB, 700k.

Basically you would need an excel calculator for this, but try looking at the way interests is calculated:

daily chargeable interest: [current balance outstanding] x [interest rate/365]
monthly chargeable interest: [current balance outstanding] x [interest rate/365] x [number of days in the month]

As you can see, the [current loan balance] is a function of the interest calculation. When you make a payment into the loan account, and reduce that figure, your chargeable interests are also reduced. Hence when you pay your installments at the end of the month a smaller portion of this installment would be used to pay for the interests, hence a bigger portion used to pay for the capital repayment.

As you perform more capital repayment this month, next month's interests payment would reduce as well. This will cascade all the way until the end of the loan, of which the loan tenure would be reduced automatically.

There is nothing to pity them about. No one put a gun on their heads and forced them to sign the SPA and LA, they made the choice out of their own free-will. Buyer beware should be practiced in everything in life, especially when buying or investing in big-ticket items that can't be bought with cash - hence the mortgages. Mortgages come with a lot of risks, including but not limited to interest risks - can you guarantee that your return (both capital appreciation and rental) can beat the interests rates plus other overheads? No one could, but if you listen to property gurus of the past few years, you will hear them sell their products/classes/developer-sponsored-projects as if these are your golden ticket to retirement.

Those who bought Cyberjaya in the past few years for investments are hit the worst. Highest property overhang in Malaysia behind Forest City.

Why U Buy Cyberjaya?

This post has been edited by wild_card_my: Jun 7 2019, 02:06 PM

Guan Eng: Incentives for first-time homebuyers extended for six months


Lim Guan Eng speaks during the 2020 Budget Consultation Council meeting at the Finance Ministry in Putrajaya June 27, 2019. — Picture by Choo Choy May

KUALA LUMPUR, June 30 — National Home Ownership Campaign 2019 (HOC 2019) is extended for another six months until 31 December 2019, the Finance Minister Lim Guan Eng announced today.

Lim said the extension of the campaign was to encourage home ownership among Malaysians and reduce the number of unsold houses.

HOC is a collaboration between the Ministry of Housing and Local Government and Real Estate & Housing Developers' Association (Rehda) Malaysia, Sabah Housing and Real Estate Developers Association (Shareda) and Sarawak Housing and Real Estate Developers' Association (Sheda).

He said the HOC combine government incentives in the form of stamp duty exemption and from housing developers of at least 10 per cent discount on sale price, which is for housing properties priced between RM300,000 to RM2.5million.

“The Finance Ministry has accepted the Housing and Local Government Minister Zuraida Kamaruddin’s request in support of Rehda’s appeal to extend the HOC period for another six months ... from July 1, 2019 until December 31, 2019.

“Besides the HOC incentives, the government has also made available incentives for first home purchases,” Lim said in a statement today, stating that houses priced up to RM300,000 can apply for stamp duty exemption on Memorandum of Transfer and loan agreement, while houses priced between RM300,000 and RM500,000 can apply for the same stamp duty exemption but limited to the first RM300,000 of the house price.

Lim said first home purchases made in the secondary market or from developers not registered with Rehda can also apply for stamp duty exemption under the HOC incentive.

“...for those who have yet to own their own residence but intend to purchase one from developers who are not registered with Rehda, or for purchases made in the secondary market, they can apply for stamp duty exemptions under this incentive.

“HOC has received a positive reception from the public as the stamp duty exemption incentives and discounts of at least 10 per cent were able to reduce the cost of home ownership especially for Malaysians who have never owned a house,” he said.

Citing a report from the National Property Information Centre (Napic), Lim said the number of unsold homes had 2,313 units valued at RM19.86 billion as at the fourth quarter or 2018.

“This reflects the long-standing issues of home ownership, as well as the mismatch between the supply and demand of houses in the market. Compared to the fourth quarter of 2017, this represents a 30.6 per cent increase in the volume of residential units unsold and 27 per cent increase in the value of residential units,” he said.

The HOC was launched in March and was initiated to increase homeownership and address the issue of unsold houses.

I need to double check agricultural land financing and construction. Very few banks would finance Agriculture land as the collateral for the mortgage.

Just a note for other readers, for residential land no problem to finance the purchase of land (if already bought, you have to charge the land to the bank) and construction at 90% of the land+construction value, at normal residential loan rates.

I do not carry this bank, but I have previously been referred to "Agrobank" for help with agricultural land financing/issues.

Sorry not much help. Appreciate if you could share your experience going forward. Who knows one day I would own an agriculture land and face the same issues.