QUOTE(alwyn75 @ Jul 18 2013, 12:05 AM)
Dear mortgage advisors,
Good day to you,
I would like to ask a few questions before i refinance this house (mortgage already fully settled).
1) Can i refinance it but keep the money in the bank until i found the right property to buy? Would there be an interest charges or any hidden charges?
2) Currently the house under 2 names, my wife and me . Can i refinance it under my wife name only? If yes, how much she can refinance? let say, my house bank value is RM250K, she can only refinance half of it (RM125K)?
3) Method of calculating the fees for transfer of title, loan agreement, legal and service fee, all are the same as buying a sub sale property?
4) Normally how it will take to refinance a property or to get the money?
5) What is the bank value for this property?
Property address: 30 Jalan SG 9/10, Taman Sri Gombak, 68100 Batu Caves, Selangor.
Built up: about 770sqft, 14' x 55'
Double storrey terrace house, 3 rooms 2 bathrooms
Kitchen and toilet extended (only ground floor)
Built in kitchen cabinet
If you need further information, please let me know, thank you.
Hi~
Good day to you. Here is the answer for your curious:
1. Can, you may choose fully flexi loan to refinance. Once the loan amount disbursement, the excess money will credited into your current a/c. These current a/c amount shall offset with your loan a/c. Which means let said you taking RM200k, in loan a/c will be debit balance 200k, in current a/c got credit balance 200k, these will offset. Bank wont charge you interest. While bank will charge you the RM10 for maintenance fees. These current a/c balance you may withdraw it anytime, any place. Once withdraw, bank only will only start to charge you interest.
RM10 per month is the charges and of course in order to set up these current a/c. there will be a RM200 set up fees which pay once only.
2. Seems both are spouse relationship. Can. S&P (A+B), loan (A only while B as a mortgagor - 3rd party). 3rd party loan only acceptable for direct relationship, father, mother and son, spouse, siblings.
3. Method of calculating not very sure, may need lawyer to advice. Roughly within the range of charges, its depend on loan amount.
4. Refinance a property from application until disbursement roughly need about 2-3 months, subject everything goes smooth. Without any delay.
5. Shall check it on monday.
Jun 7 2013, 03:07 PM
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