It will be easier, efficient and the speedy for the whole housing loan process. Because same lawyer handling it without much hassle in between.

You can shop around for different lawyer price quoted, sometimes agents lawyer will be pricier because of the commission they get part from it, that's the problem. Ask for discount or opt for different lawyer when the price is too much.

Conclusion:
Best to have same lawyer working on the SPA and Loan side, it will speed up the process. You can shop for a less cheaper lawyer but quality wise not ensured, ask for lawyer contacts recommendation around from friends and families who has their housing loan done without any problem.

Outstanding rm230k
market value rm480k
4.45% interest

Rm480k*90%= Rm432k
(90%given that you refinance is on 2 nd mortgage, if is 3rd oe more mortgage, you only will get 70%)

Total cash out= Rm432k-230k= Rm202k

1.
Rm202k cash out installment= Rm2088.63
rm230k term loan installment= Rm1081.23
Total installment / mont Rm3169.89

Above is max cash out.

2.
If you only able to afford rm2500 then :
Rm230k term loan installment = Rm1081.23
Rm145k cash out installment = Rm1419

Total installment / month= Rm2500

Above is the amount cash out you are entitled, total Rm 145k cash with monthly rm2500 installment

It depends on few factors for the refinance & cash out.
1) Property freehold & Leasehold (Freehold will be quickest)
2) Which state are you at (usually selangor is the quickest)
3) Speed of lawyer
4) Title of your property (Master title will take longer time)

The fastest will be 1 month as I have done and seen, but this need to keep on pushing the lawyer... haha

Usually it takes 2-3 months

1)It is best to chose lawyer that you have deal with and completes your mortgage loan without any hiccups.
2) If you don't have any preferred lawyer, best is to ask your friends or family members recommendation
3) Chose lawyer nearest to the area.

Talking about refinance an cash out speed.

There is few cases which lawyer able to speed up the cash out in 1 month time (leasehold, selangor property, with strata title), that's fast though. But as said, it depends on various factors as stated. But selangor land office is pretty linear compare to KL's one (As told by various lawyers of mine that I deal with)


This post has been edited by Madgeniusfigo: Oct 10 2015, 02:15 PM

Rm150k / 1%
<=1mil / 0.7%

RM519K

RM150K =Rm1500
RM369k =RM2583

Total would be around= RM4083

Hi,
in your case, this is half share repurchase, half share refinance. It can be done.

May I know who will be transferring the shares?

When undergoing this procedure, we need to make it clear cut who is responsible to bear all cost of transfer, or it is shared among each other.

For this, they will be cost for legal and stamp duty:

Legal loan full amount
Legal spa half amount
Stamp loan full amount
Stamp spa half amount

Before proceeding with this, I will need your following details.


1. Income (borrower)
- net salary
-OT
-Allowance
-Bonus

2. Supporting income (borrower)
-Tenancy agreement
-ASB ( 2 years total bonus)
-Shares
Fixed deposit

3. Debt / commitment (borrower)
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

4. Property market value
-Property address details
-Property square feet
-Any renovation and refurbishment

lengthy, but in order to be more accurate and able to better advise you, it is needed.

Strata title and leasehold and property located at selangor area, the speed will be around 1-2months for refinance and cash out.

The lock in period usually stipulated in the letter offer and loan agreement on the first few pages, do look carefully at the fine print.

Yes, I do deal with few good lawyer's at KL and PJ area for years, without much problem. I can recommend them if you need the help.

Dear Piggy zai,
I had done a loan analysis on the given details.

LOOK at right bottom

Yes, you are able to purchase rm 390k property,
DSR 43%, hence it is in good hand.

5 banks able to finance this loan you are borrowing.

RM390K, MONTHLY installment RM1650

loan legal and stamp and valuation is total rm8215.

1. if your dad put ownership of the house under you and not borrower, then it is not consider as commitment.
2. if you pay your credit card on time within the grace period, you are safe and sound
3. since your DSR is low 43%, bank would consider you as a good candidate, but have to look at your ccris first for further assessment.

1. I is usually islamic
2. you can negotiate with lawyer but usually they will collect all fees beforehand.

Dear all,

If you need us to help assess your profile for loan eligibility, it is best to follow below format. SO that we can assess accurately. Cheers

1. Income (borrower)
- Gross salary
-OT
-Allowance
-Bonus

2. Supporting income (borrower)
-Tenancy agreement rental
-ASB ( 2 years total bonus)
-Shares
- Fixed deposit

3. Debt / commitment (borrower)
-Hire purchase loan (Credit limit)*
-Housing loan (credit limit)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

Dear @bibibear

1. For you salary, purchasing RM450K property is not a problem for 5 banks, moreover 50% DSR is quite good. Bank will open heartedly accept you.
Your installment will be RM1904, 4.45% 35years loan tenure.

2. Do you have credit card at least? (if you don't have any debts in your ccris, bank might slash your borrowing margin)

3. For first home house buyer, purchasing property below RM500K, you will entitle for 50% stampduty discount.

4. You are qualify for 100% first home scheme purchasing, since your DSR is lower than 60% and property balue below RM500K.

5. LOOK at my loan analysis bottom right, your maximum borrowing can purchase RM650K property.



This post has been edited by Madgeniusfigo: Oct 15 2015, 03:52 AM

6. If solely use individual B to borrow loan
Max is RM700K property price.


This post has been edited by Madgeniusfigo: Oct 15 2015, 03:38 PM

To be more exact and accurate, do provide relevant details as below

1.
-Age of borrowers
-How many borrowers

2. Income (borrower)
- net salary
-OT
-Allowance
-Bonus

3. Supporting income (borrower)
-Tenancy agreement rental
-ASB ( 2 years total bonus)
-Shares
-Fixed deposit

4. Debt / commitment (borrower)
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

No problem
If the information provided serve you well, I am glad and happy.

No problem, do remember to settle it first before apply for housing loan.

Dear Kingsora,

1. wife working for full 3 months wouldn't be a problem in applying loan, importantly the company pay her salary crediting through bank account and contributing EPF.

2. For you sir, working for 5 years is a very solid strong credit score from the bank itself. Hence so far no problem with this issues.

3. With my loan analysis report. Purchasing RM500,000 PROPERTY wouldn't be an issue, as you look at the bottom right. Debt service ratio is 40% which is very healthy, 5 banks would be able to finance your property in full.

4. Lets'say if both of you age less than 36. You can qualify for 35 years mortgage loan tenure, the rate for the loan amount will be around 4.45% rate, monthly installment will be RM2115.74/month.

5. Your loan side of S&P + legal fees + valuation fees will be around total of RM9600.

6.Based on the bank DSR threshold, your max property price you could purchase is RM918,000.

7. Everything seems great, but I would suggest if you have extra documentation mention at below, do provide. It will strengthen your credit scoring.

a) Fixed deposit
b) Tenancy agreement
c) Bonus (performance or contractual) 2 years bonus amount
d) Shares
e) ASB bonus dividend for 2 years total amount

Dear Kingsora,
U mean fixed and (semi/full flexi) ?

Take note*(This is just example of a bank, different bank has different modus operandi)


Full flexi:

1) current account tied to loan account
2) auto debit from current account at month end and interest is calculated based on outstanding balance minus amount in current account
3) maintenance charge of RM10 per month
4) setup/ processing fee of Rm200
5)The liquidity comes in the form of an ATM card or a linked CASA account to the housing loan.
Example: You have a shop that is opened Monday to Satuday, rest on Sunday. On Saturday, you deposit all your proceeds of the week into the flexi account, on Sunday, you would save [(your-HL-interest-rate)/365]*AmountDeposited worth of interest. On Monday, you withdraw the money to run your business

Semi Flexi

semi flexi package typically has these features:
1) requires you to phone in to indicate the extra payment as early settlement of advance payments
2) if you fail to indicate, you will be charged 1% (some banks do this afaik)
3) if you indicate advance payment, no additional interest is saved as "advance" payment will only be credited to your loan account when it reaches your cycle date, so it is plain advance payments. and must be in multiple of your monthly payment.
4) For redrawable prepayments, you need to indicate separately and Redraw charge of RM50 is imposed (M*B charge Rm25)


Fixed

1) interest rate will be higher among all other packages. Normal rate for RM500K loan is 4.45%, fixed rate will charge example 5%
2) This package does not allow you to reduce loan interest with advance payment. All advance payment will be treated as prepayment for future installment. However, there's special consideration which bank might or might not grant you to reduce loan interest. It depends
3) Hedge against interest rise. When normal conventional interest spur to 5.85% (lets say), you will be still serving 5% interest. Fixed rate remove the fluctuation environment from your side, you will just pay 5% throughout loan tenure.



2. For loan approval it really depends on which bank, different banks have different speed. The waiting time usually falls under 3-7 days, if everything is done right by the agent. If there's hiccup in between and with bank queries, it can drag till 11-15 days. It really based on luck which agent serves you, which credit approval department employee vet your case and their mood. Hence, the speed can be said quite subjective. If everything goes right, documents sufficient, CTOS and CCRIS check all proper, 3-7 working days is the standard.

Hence it is important to prepare all relevant documents to the agent.



This post has been edited by Madgeniusfigo: Oct 18 2015, 07:53 PM

1. Your max loan eligible is RM639,000 from HLBB. But if you opt for islamic loan, go for Ambank and maybank. FOr the table stipulated, ambank and maybank islamic loan Max is rm526k for Maybank, RM451 max for ambank.
Your installment will be RM1629/month for 35years/ 4.45%

2. It is good that you have credit cards facilities, which it will help in your credit scoring for better loan acceptance chances and for better rate. Since your DSR is within threshold, you can get a better special rate.

3. Usually banks allow 90+5% for Legal,valuation and stamp fees to be financed. May I know if your property is either subsales or Underconstruction property?

Dear Kingsora

1. For you wife case is not an issue. If she just work for 2 months and have previous job employment before this, it can be done.
Bank would want your following document so that can justify your income is solid.

1. 2months current pay slips
2. 2months previous employment payslips
3. Current job appointment letter or confirmation letter.

So your 2months working period only with 2 months pay slips will be sufficient to get loan financing.

2. 90%+5% financing by bank, it means the legal fees,stamp duty fees and valuation will be financed into the loan itself.
Example:
Rm500k poperty 90% rm450k loan.
Legal fees, stamp duty and valuation for the loan side around rm20k (remember, extra 5% financing by bank is for loan side legal stamp valuation fees)
In the end bank will be financing Rm470,000 loan amount.

Bank will finance this rm20k cost because it is within 5% benchmark. (RM500K *5% = RM25K)

You won't receive cash. Except you take OCBC loan cash rebate scheme where bank will allow extra 10% cash out. But the extra cash out given by the bank is high and not easy to get, rate is around 6.85% or lower.

This post has been edited by Madgeniusfigo: Oct 21 2015, 01:44 AM

1. Rm300k above now are fetching 4.4% lowest market rate. 4.75% not to say the best but maybe due to your credit scoring and your CCRIS debt payment record. As the rate now are based on client's profile. So i'm not in the position to judge the rate they gave as I haven't seen your document and profile yet.

2. You will be paying 10% down payment regardless.

3. Subsales property don't have any rebate, discount, early bird, absorption of S&P fees etc..

4. You are fully utilizing bank financing tools to leverage and finance every possible entry cost. (LVS)

5. You are in a good position, just that the rate is slightly high.