Interest changing to BLR + 0% and higher?, Starting from 1 January 2015
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 Jan 27 2015, 10:43 AM
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#1
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Senior Member
2,493 posts Joined: Mar 2014  
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Hi all sifus, just last week, HxB offered me BR 3.99 + spread 0.56 = 4.55% for 35 years tenure. My property is RM420k and the approval loan amount is 89%. Is that worth to take it? Thanks.
This post has been edited by kelvinlzy: Jan 28 2015, 02:01 PM |
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Jan 27 2015, 01:10 PM
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#2
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Senior Member
2,493 posts Joined: Mar 2014
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QUOTE(Jasoncat @ Jan 27 2015, 11:39 AM) Just purely based on the rate without looking at the whole loan package I think that is fair. Thanks Jasoncat, meanwhile I will wait for other banks' rates. |
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Jan 28 2015, 02:04 PM
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#3
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Senior Member
2,493 posts Joined: Mar 2014
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QUOTE(kelvinlzy @ Jan 27 2015, 10:43 AM) Hi all sifus, just last week, HxB offered me BR 3.99 + spread 0.56 = 4.55% for 35 years tenure. My property is RM420k and the approval loan amount is 89%. Is that worth to take it? Thanks. CxMB approved 90% of my loan of RM420k, with an interest of BR 4.00% + spread 0.50% = 4.50%. Compared with HxB which offered 89% of the loan amount, interest rate is (3.99% + 0.56% = 4.55%), is CxMB better a little bit? Please advise. Thanks.  |
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Jan 29 2015, 11:54 AM
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#4
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Senior Member
2,493 posts Joined: Mar 2014
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QUOTE(Jasoncat @ Jan 28 2015, 02:41 PM) 1% LTV difference is equivalent to RM4.2k only. Based on the info given, I will opt for CxMB. However, are both offering the same loan terms in terms of lock in period, MRTA requirements, full-/semi-flexi, tenure etc? These should be factored in your decision making. QUOTE(phonixloo @ Jan 28 2015, 05:36 PM) Sure CIMB better. Lower by 0.05%. Long story short:HxB: BR(3.99%) + Spread (0.56%) = 4.55%, semi flexi, lock in period 3 years, tenure 35 years, MRTA 100% for 20 years. CxMB: BR(4%) + Spread (0.5%) = 4.50%, full flexi, lock in period 3 years, tenure 35 years, MRTA 100% for minimum 10 years. Also, after lock in period should I refinance to other bank to save more interest? Thanks. |
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Jan 29 2015, 01:01 PM
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#5
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Senior Member
2,493 posts Joined: Mar 2014
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QUOTE(phonixloo @ Jan 29 2015, 12:56 PM) As for me, I will still choose CxMB as the interest lower @ 4.50% + full flexi. Noted. Thanks a lot. After lock in period, unless there is a substantial cut in interest, otherwise it is not worth for you to consider refinance. Unless there is "ZERO" moving cost option. |
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Jan 29 2015, 06:33 PM
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#6
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Senior Member
2,493 posts Joined: Mar 2014
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QUOTE(phonixloo @ Jan 29 2015, 12:56 PM) As for me, I will still choose CxMB as the interest lower @ 4.50% + full flexi. After lock in period, unless there is a substantial cut in interest, otherwise it is not worth for you to consider refinance. Unless there is "ZERO" moving cost option. QUOTE(Jasoncat @ Jan 29 2015, 02:13 PM) Seems CIMB is the winner... Quick update: PxB approved 90%, effective rate 4.4%, lock in period 3 years, MRTA 25 years, semi flexi. I assume it is better than CxMB?Too early to judge whether it's worth to refinance after the lock in period lapse in 3 years time. You need to see what's the prevailing rate then and whether any cost incurred for the refinancing. This post has been edited by kelvinlzy: Jan 30 2015, 07:59 AM |
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Jan 29 2015, 11:04 PM
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#7
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Senior Member
2,493 posts Joined: Mar 2014
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Apart from the RM200 one time set up fee and monthly RM10 maintenance fee, any hidden charges for full flexi loan? If I opt for ATM/debit card instead of cheque book will there be any annual fee? Also is there any withdrawal fee?
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