I just got a whatsapp msg from a property agent which I would like to verify if its true. It says that from 1/1/2015 onwards, banks no longer offer minus interest rate of BLR, there will be BLR + 0% or higher. Last day submission on loan to entitle for minus on interest rate will be set at 19/12/2014.

Can someone verify if this is true?

OMG! u belif a "property agent"???

This post has been edited by jeremy05: Dec 5 2014, 11:03 AM

Check with your banks, not with the agent.

That would be Base Rate he is mentioning. Try google, don't panic.

Show him the middle finger!

better call your trusty bank ...

Property market is bad nowadays. Agents have to make a living too. Cant blame them.

It is no longer called BLR then. That is Base Rate.

just a word from property agent, not the bank or bank negara. ask him from where he heard? no news at all regarding this matter

It's not true. What is going to happen next year effective 2/1/2015 is there will be Base Rate introduced to replace BLR. No such thing as BLR+0% to be implemented.

maybe the agent heard half and didnt heard the other half..

he heard BLR will be no more .. =>so he assume BLR=0%
he did not heard BLR will be replaced with Base Rate.

This agent phailed ... O_o

agent just want you to quickly bbb by the year end. same trick done by car dealers, must buy now, next month interest increase! lol

let them rot only... after GST only buy if agents /bankers come wave ur middle finger t them

as I know, next year NPL (non performing loans ) will surged, dunno bank negara will give instruction to hold legal action to 6 months from default or not... lets guess

OPR is rumoured to increased 25 points Jna 2015

economy downturn, they are not going to increare the OPR. If situation worse, they might even consider to reduce it instead.

guess depends on the inflation level, Malaysian are all noti taking opportunity, need to contain inflation

BBW, normally central bank will hike the interest rate when the inflation is caused by demand pull. But the current inflationary pressure is cost push in nature.

The thread is temporarily pinned so that people understand what it is about (BR)

I have seen too many uninformed person spreading false rumour across.

https://forum.lowyat.net/topic/3432094
https://forum.lowyat.net/topic/3432076

BR /= BLR

Not much different between BLR (Base Lending Rate) which are using right now compared to BR (Base Rate) which going to implement soon. For BLR, the spread by the bank can be either + or - ; For BR, the spread will be only +. BR is implement to provide transparency (to consumer) of costs & profit imposing by the bank with the spread (+) they offered as previously the spread (+ or -) is quite confusing to consumer which do not have financial knowledge.

Despite BLR going to be replaced by BR. The effective rate for BLR & BR will be the same.

Assume BR @ 3.6% & BLR remained 6.85%.

Scenario 1:
BLR 6.85% - Spread 2.4% = Effective Rate 4.45%
BR 3.6% + Spread 0.85% = Effective Rate 4.45%

Scenario 2:
BLR 6.85% + Spread 0% = Effective Rate 6.85%
BR 3.6% + Spread 3.25% = Effective Rate 6.85%

Existing Loan with BLR will be remain based on BLR. Only new loan will start using BR. I dun think bank will set the effective rate differently for both BLR & BR. Else, all existing customer (using BLR) will refinance within the bank or to others bank. Just my opinion.

Rumor that RPGT gonna be abolished Jan 2015 and LTV 100% allowed for 4th home and above starting April 2015 lol

Thanks for the information. Your illustrations is so clear.