Since you don't intend to take out money, full flexi / semi doesn't really matter for you.

Just sharing from my limited experience, you can opt to use the same lawyer for both SPA and loan. Usually can get better discount if 1 lawyer handle both. But you need to inform the bank that you don't want their panel lawyer. I got 55% discount from mine currently for the legal fees. Also on lawyer, ask them to give you detailed quote. Ask them to take out all the disbursement etc, can save a bit on that.

Next is maybe ask bank to waive (unlikely) or discount on valuation fees. On your case, valuation should be 0.25% on 1st 100k, then 0.20% on balance. There's a schedule on board of valuers website that you can check and calculate.

Some agents will ask you to sign up credit card together with loan, use that as bargaining chip for better deal.

Since first property, if it's below 500k, you can apply for 50% discount on stamping. You can only use this for first properly + below 500k. Also if your loan is Islamic, you get 20% off the loan stamping as well but bear in mind Islamic loan may have more loan documentation (additional cost) which may offset the discount.

Hope it helps, just my limited experience.

This post has been edited by phoenixxx: Jun 26 2015, 12:04 PM

i'm using the same lawyer for SPA and loan. will ask for discount.

i'm torn in between RHB and Maybank now.
RHB, full flexi, higher MRTA, additional RM38 every month that will total up to RM15K in 35 years.
Maybank, semi flexi, lower MRTA. i save RM15K in 35 years.

Have tried talking to RHB to request for lower coverage or shorter tenure of the MRTA to maintain the same loan pricing?

Did you ask RHB why their MRTA so much higher for same amount, same tenure vs MAYBANK? I didn't really pay attention to mine since I'm not taking but IIRC most banks quote around the same ballpark figure.

This post has been edited by phoenixxx: Jun 26 2015, 12:22 PM

RHB RM19K. Maybank 11K.

RHB claimed that their surrender value is higher than other bank hence the higher premium. I'm meeting the Maybank dude tonight to look at the value. decision decision...

Ya.. Could be due to that. You can request the schedule and compare it side by side. Then see for yourself if the higher surrender value is worth it.

Anyway, unless you plan to stay there for 25 years, no need to take so much MRTA. Average person will sell / upgrade / refinance before that, then your MRTA will burn since it is tagged to the loan (unlike MLTA which will follow you)

All the best in your decision.

according to RHB i can get back money if i sell the house. that's the surrender value. hmmmm

If you not taking the MRTA from RHB, then your RHB installment got increment? By how much?

didn't ask. haha. but i've decided to change the MRTA to 15 years instead. friend said 25 years are too long. being a grown up is not fun

Lol... Bank cannot force you to buy MRTA from them.. Of course normally with MRTA package, bank can offer you a better rate.

If the different is not much, I would suggest you to take the full flexi account.

for 25 years, Maybank 11K, RHB 19K.
i save rm30+ a month if i go with Maybank and RM15K for 35 years haha.

Maybank semi flexi
RHB full flexi

Take loan from RHB, buy MRTA from Maybank..

Suggest you reduce the MRTA tenure, anyway RM30 / mth difference is not that big, and you probably won't service the loan for 35 years, except if for the next 35 years your earning power stay the same, ha ha...

Otherwise just take Maybank.

Tried any other banks? StanChart, PBB, Citibank, HSBC, OCBC, CIMB etc...

reduced the MRTA to 15 years.

UOB interest is 4.45. the rest of the banks just disappeared after i've submitted my docs.

Lol... all up to your preference.. Even you want to reduce MRTA to 5 years also no problem, as long as the bank lock in the offer rate.

RHB got full flexi? since when?

If I'm not mistaken, about a year ago.

RHB Full Flexi since 1 yr ago. But the mechanism abit different. You still have to put the money into the loan account, but can withdraw anytime into the linked CA anytime online. I know because I took it.

Funny thing is RHB's full flexi is not showing in loanstreet's housing loan comparison page. they're usually pretty updated but looks like they dropped the ball on this one.

i see, thanks, my last 2 rhb was semi

anyone knows how to withdraw from the semi flexi? must be via loan's home branch?