thanks for reply

Loaned 25k

won't be enough, do u have
extra income ?

Bonus, tenancy agreement, comission, FD ?


if don't have need joint borrow to purchase or buy lower price property.

New property rm700k
looking for loan 90% 35yrs flexi
blr-2.5 possible?

For maybank.. depends on projects.. standard range -2.40-2.50%

May I ask for opinions.

I currently have a mortgage under my wife and my name. If we refinance it under my wife's name only, will I be eligible to get mof 90% for my next 2 residential properties?

Thanks in advance.

This post has been edited by cytoh83: Oct 31 2014, 12:49 AM

Guys , i would like to advise those looking for loans. Past few months i have submitted documents to few banks and had few experiences through out all this loan process and procedures. Almost 4 banks loan has been approved but i have rejected since their package not worth.

I were fully interested on FULL FLEXI before this, since i had intention to park money at current account to save loan interest. So each bank i have tried i was looking for FULL FLEXI and below was my feedback.

AMBANK - Beginning stage agreed for 80% and BLR-2.2, where BLR was 6.6. Then 1st reply said only can offer 70% with blr-2.1. Requested to push for blr-2.2. Next feedback was only 65% and blr-2.15 . So what i noticed here each time i ask to give better rate bank tried to reduce MARGIN OF FINANCE and made me to increase property value higher. So i have rejected.

MAYBANK - NO full flexi for business premise. Bank offered standard traditional loan, said can push for blr-2.2, subject to HQ approval. And if iM willing to park any cash in FD that would be easier for them to push. So i dropped.

CITIBANK - Full Flexi can push for blr-2.0 but loan tenure is just 20 years where monthly installment getting higher for loan amount. Not afford to pay, dropped.

ALLIANCE BANK - Fullflexi blr-2.0 can push more, only can offer 70% loan. In order to get better rate i must park about 50 or 60k in current account for 6 months. Later can take out money it seems. What i don't understand is, even without knowing whether loan success or not we have to park money in current account. If fail, still our money stuck in CA. So dropped.

HONGLEONG - Do have fullflexi link to current account. Blr-2.1 subject to approval. Loan approved but i reject since only can offer up to 20 years with lower amount of loan since their risk calculation on me is high. So dropped

PUBLIC BANK - Before try above banks, had tried PUBLICBANK once and they informed FULLFLEXI package has been closed. Then recently tried again and found out they offering FULLFLEXI if loan amount is above 500k with BLR-2.2. Seems good offer and applied then later on found out how their FULL FLEXI really works, where previous i had understanding of what ever cash you park in current account will be used to offset the principal loan amount and balance will be calculated for payment. BUT ACTUALLY NOT. I have attached below snapshot of clause.

To explain you short, PUBLIC BANK CURRENT ACCOUNT should have minimal amount which is 30k. That 30k will be excluded from computation. And only 50% of balance money in CURRENT ACC (after minus minimal amount 30k) will be used to offset loan principal amount.

Example, you have 100k parked in CA. Minus 30k of minimal amount, balance 70k. So only 50% of 70k means just 35k will be used to offset outstanding loan principal amount. So the rest of 65k in CA doing nothing....


LOOK AT 5.1 , 5.2, 5.3


NOW I already have doubt about FULL FLEXI at other bank, might be works in same way.
So i advise please check the clause or term how their FULL FLEXI works.

This post has been edited by GHOSTVIC: Oct 31 2014, 09:17 AM

if currently that property are your only property then yes u are right.

having said that, if this is the only property ur name is on then ur next loan you may also get up to 90% mof. its only your 3rd property that will be capped at 70%

you are right, infact most banks only offer semi-flexi loans

yes,still can loan 800-900k base on calculation.
However,approval still subject to management.

Seek for advice:

Property selling price - rm320k
Monthly salary - rm2500 + rm400 fixed allowance
Commitment - rm125 per month (insurance), no car loan, ptptn 28k
Property location: cyberjaya, beside MMU, condo, freehold
First property, age 24
Currently working in Cyberjaya too

My question:
1/ is there any bank willing to offer me 95% or 100% MOF? if yes, what is the T&C?
2/ best rate able to offer

Thx for your advise

so banks saying about FULL FLEXI so it does not really works in that way where full amount in CA will be offset to outstanding principal amount ?

then whats the purpose of having FULL FLEXI ? If FULLFLEXI have such terms and conditions what about SEMIFLEXI.

My friend even went to HSBC and question about FULLFLEXI whether is it really works like PUBLIC BANK.
According to him, HCBC mortgage officer showed some calculation and confirms their FULLFLEXI has no minimal balance and capping like PUBLIC BANK.

Im not sure how true it is.. we only knows when we start paying it..
Since my friend's case, loan at HSBC is FULLFLEXI property still under development and money is been releasing partially.
So its too early to jump on conclusion, only can able to verify after park some cash in current account and monitor how the interest get calculated.

Must check before and after pump in cash to current account.

Base on my understanding below is the difference of both TRADITIONAL and FULLFLEXI loan mechanism. Correct me if i missed or wrong about anything.


TRADITIONAL LOAN

LOAN PRINCIPAL - RM 500,000 ,
BLR 6.85% - 2.2% = 4.65% ,
LOAN TENURE - 25 YEARS... Lets say monthly instalment RM2821.90

[loan principal X 4.65% ] / 12 = INTEREST
[500,000 x 0.0465] / 12 = 1937.50
Monthly installment - Interest = Principal deducted
2821.90 - 1937.50 = 884.40

so each time your montly principal get deducted, your new outstanding principal will be used for following month calculation.
refer to below snapshot , 25 years tenure, loan amount 500k.......... INTEREST PAID RM346,571.10






FULL FLEXI LOAN

LOAN PRINCIPAL - RM 500,000 ,
BLR 6.85% - 2.2% = 4.65% ,
LOAN TENURE - 25 YEARS , you park one time prepayment 100k in same month at CURRENT ACCOUNT

Look at below SNAPSHOT how much get deducted from principal loan amount each month.
1st month is similar to above calculation, where 2821.90(installment) - 1937.50(interest) = 884.40 (principal)

RM 500,000 - 884.40 = RM 499,115.60 (new outstanding loan principal) , park 100k in CA, following month calculation will be...

[(499,115.60 - 100,000) X 0.0465] / 12 = INTEREST
RM 399,115.60 X 0.0465 / 12 = 1546.57
Monthly installment - Interest = Principal deducted
2821.90 - 1546.57 = 1275.327


If FULL FLEXI really works such way then, by just letting that 100k sit in CURRENT ACCOUNT you can save 7 years 9 months tenure, interest saved RM164260.76





If FULLFLEXI really works like this, then look at how much monthly interest can be saved compared to TRADITIONAL LOAN.
Obviously its better than parking that 100,000 in FD.

If FD maximum rate i discovered PUBLIC BANK offer 4.05% per annum. So you park 100k there.
( RM100,000 X 0.0405 ) = RM4050 / 12 months = RM 337.5
FD Monthly you earn 337.5 , FULLFLEXI makes you save more interest each month your outstanding of loan principal reduces.


SO THE QUESTION IS, FULL FLEXI REALLY WORKS LIKE WHAT WE THINK OR, IS THERE ANY HIDDEN MINIMAL BALANCE AND CAPPING ? like PUBLIC BANK

This post has been edited by GHOSTVIC: Nov 1 2014, 08:48 PM

Does anyone know can the seller decides to sell the unit to another when I already signed the booking form and paid rm500 as booking fee?

ur net income will be around RM2581

House monthly payment will be around RM 1400

24 years old can loan to max 35 years

RM2581 X 0.6 =RM1548

able to loan. can try 90%

everybank offer different rate, actually is almost the same. trust me on this

When ur loan processsed, u will need to sing LETTER OF OFFER contract

everything u need to know will be inside it, whether full flexi or semi, how much payment, whats the delay charge and so on.

ask the banker to show you where it is written in the LETER OF OFFER. If he can't even confirm u at the letter. DOnt even bother to accept his term and contract.

very true

full flexi have 2 account/

advanced account and capital account

money at capital account will deduct the capital and money can be withdrawn.

advanced account, ur money put in will offset the capital but can't be withdrawn.

anyway, different bank account system is different.

some bank say it's flex but the money put into the account won't deduct the capital but used as reserve money to pay off future interest. and doesn't reduce the capital...

read the LETTER OF OFFER and ask the banker to show you the wording. So that u won't be CON . LETTER OF OFFER shows everything

If loan 500k, what is the best rate can get? if without MRTA?

subsale property

I apologize in advance if it's a silly question.

If one purchase a property for flipping say in between 5-10yrs. Is it worth getting a full flexi loan?

Or in general one should just get the full flexi loan for convenience sake?

BLR -2.4 to 2.45