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> Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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kiwiguy
post Jan 10 2018, 07:30 AM

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QUOTE(lifebalance @ Jan 9 2018, 03:15 PM)
normally try not apply >6 banks at the same time

for bank account details you can normally save as PDF, no need to print from their PC.
*
Does a banker knows that you have submitted applications to other banks from their system?
if yes, how can they detect that?
lifebalance
post Jan 10 2018, 08:13 AM

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QUOTE(kiwiguy @ Jan 10 2018, 07:30 AM)
Does a banker knows that you have submitted applications to other banks from their system?
if yes, how can they detect that?
*
via CCRIS record when they pull it from BNM
kiwiguy
post Jan 10 2018, 08:55 AM

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QUOTE(lifebalance @ Jan 10 2018, 08:13 AM)
via CCRIS record when they pull it from BNM
*
does the ccriss update daily/everytime you apply for loan?
isn't it every 15th?
lifebalance
post Jan 10 2018, 09:16 AM

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QUOTE(kiwiguy @ Jan 10 2018, 08:55 AM)
does the ccriss update daily/everytime you apply for loan?
isn't it every 15th?
*
for new application, will be updated immediately into the pending application.
ngph988
post Jan 10 2018, 10:52 AM

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QUOTE(kiwiguy @ Jan 10 2018, 07:30 AM)
Does a banker knows that you have submitted applications to other banks from their system?
if yes, how can they detect that?
*
QUOTE(kiwiguy @ Jan 10 2018, 08:55 AM)
does the ccriss update daily/everytime you apply for loan?
isn't it every 15th?
*
It will show pending application under CCRIS indicating the date and loan amount applied.
r34
post Jan 10 2018, 08:20 PM

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QUOTE(lifebalance @ Jan 9 2018, 08:37 PM)
It means you're intending to make bulk purchase for different units of the same project by applying multiple banks
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bro, which means we are no longer can submit multisub for the same project?
lifebalance
post Jan 10 2018, 08:22 PM

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QUOTE(r34 @ Jan 10 2018, 08:20 PM)
bro, which means we are no longer can submit multisub for the same project?
*
You can still try but success or failure depends on individual banks.
ngph988
post Jan 11 2018, 12:12 AM

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QUOTE(r34 @ Jan 10 2018, 08:20 PM)
bro, which means we are no longer can submit multisub for the same project?
*
Not encourage to do so. MBB, PBB, UOB will check applicant's CCRIS prior to loan disbursement. If there is any loan more than the particular bank approved, they have rights to withdrawn the facility.
thenazek
post Jan 11 2018, 02:20 PM

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Any banker can do a loan eligibility check?

On paper, I can calculate but the bank willing to give is different story. I want to buy an auction property so I wouldn't want to risk 10% deposit when no bank will want to give me loan later.
lifebalance
post Jan 11 2018, 02:30 PM

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QUOTE(thenazek @ Jan 11 2018, 02:20 PM)
Any banker can do a loan eligibility check?

On paper, I can calculate but the bank willing to give is different story. I want to buy an auction property so I wouldn't want to risk 10% deposit when no bank will want to give me loan later.
*
Let me know the following

Age
Gross pay
Nett pay
Rental income
Bonus 2014 2015 2016

Commitment
House
Car
Credit card outstanding
Personal Loan
PTPTN
ngph988
post Jan 11 2018, 02:59 PM

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QUOTE(thenazek @ Jan 11 2018, 02:20 PM)
Any banker can do a loan eligibility check?

On paper, I can calculate but the bank willing to give is different story. I want to buy an auction property so I wouldn't want to risk 10% deposit when no bank will want to give me loan later.
*
Will need details below for our reference.

1) Borrower info
Age
Occupation
No of borrower
Single/joint borrower
No of housing loan on hand

2) Income
A) Salary earner
Gross salary
Allowances
i) Fixed (average in 3 months)
ii) Variable (average in 6 months)
OT
Bonuses
i) Contractual (total amount in 1 year)
ii) Performance (total amount in 2 years)
Commission (average in 6 months)
B) Self employed
- Sole proprietor / partnerships / Sdn Bhd
6 months company bank statement(credited amount)
i)
ii)
iii)
iv)
v)
vi)
Income tax declaration
Net Profit/Loss shown in past 3 years audited report (optional)

3) monthly commitment
Housing loan
Hire purchase
Personal loan
ASB loan
PTPTN loan
Credit card
Share margin
Other term loan
OD

4) supporting document
Rental
Savings
Fd
Asb dividend
Shares
others

5) property details
Under construction or subsales
Property type
How many storey (for landed)
Property address
Purchase price
Master title / individual title / strata title
Freehold / leasehold
Build up / land area
Renovated area & total cost
jAsOs
post Jan 11 2018, 06:14 PM

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Hi, my question is specific to Selangorku projects and loan amount.

1. In order for me to get a joint loan, do I have to include my co-borrower’s name in the SPA?

2. Does Selangorku projects allow for joint name purchases?

Thanks in advance!
lifebalance
post Jan 11 2018, 06:16 PM

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QUOTE(jAsOs @ Jan 11 2018, 06:14 PM)
Hi, my question is specific to Selangorku projects and loan amount.

1. In order for me to get a joint loan, do I have to include my co-borrower’s name in the SPA?

2. Does Selangorku projects allow for joint name purchases?

Thanks in advance!
*
1. Not necessary

2. Yes
soulmixx
post Jan 11 2018, 08:14 PM

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hi..
i just bought a house undercon.. my loan already approved.. right now lawyar appointed by developer charger 20% higher than lawyer appointed by bank..
it is compulsory to take lowyar from developer? or i have a right to choose?

This post has been edited by soulmixx: Jan 11 2018, 08:16 PM
lifebalance
post Jan 11 2018, 09:02 PM

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QUOTE(soulmixx @ Jan 11 2018, 08:14 PM)
hi..
i just bought a house undercon.. my loan already approved.. right now lawyar appointed by developer charger 20% higher than lawyer appointed by bank..
it is compulsory to take lowyar from developer? or i have a right to choose?
*
You have the right to choose
Kanelam
post Jan 12 2018, 12:03 PM

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I have been offered RHB MY1 FULL FLEXI HOME LOAN but there is something unclear and need those who has knowledge in this to help explain.

We all know that we need to link the savings account to loan account via standing instruction(SI)

1) Let's say ( example) during construction the first 10% progressive/drawdown is 50k and I need to pay RM 500 interest monthly.

What happens if I made a prepayment of RM 49.7k to reduce the principal loan ?
From my understanding, you need to key in the amount (RM500) when setting up standing instruction. If this is the case then my loan will be zerorised next month and I need to pay the bank penalty for full repayment during the first 3 years.

But my mortgage officer told me that during construction period , you don't have to key in the amount when setting the SI . It will only deduct the interest of principal owned ( for my case, the interest of RM300 ) from my savings account to my loan account.

Can anyone confirm is this the case as it sound more like direct debit to me instead of SI?



2) He said that you can only key in the full Monthly Repayment amount in the SI once the loan has been fully disbursed.

Lets say by the time the loan has been disbursed, my total loan is 500k and I already made a prepayment of 499K to reduce Principal. My Monthly Repayment Amount is RM2k.
With the SI, what are the methods to reduce the interest without zeroing the loan and incur penalty?

Can I make a prepayment to my loan account to a max of 497 and let the SI deduct the 2k from my savings account to my loan account every 5th of the month
to let the loan account to be 499k .Then I transfer it back to my savings account on the 3rd next month and let the cycle repeat again.


In this best case scenario, I only pay minimal amount of interest provided I have the cash and I don't plan to settle the loan early as I might need the cash later for emergency.

Thanks


lifebalance
post Jan 12 2018, 12:09 PM

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QUOTE(Kanelam @ Jan 12 2018, 12:03 PM)
I have been offered RHB MY1 FULL FLEXI HOME LOAN but there is something unclear and need those who has knowledge in this to help explain.

We all know that we need to link the savings account to loan account via standing instruction(SI)

1) Let's say ( example) during construction the first 10% progressive/drawdown is 50k and I need to pay RM 500 interest monthly.

What happens if I made a prepayment of RM 49.7k to reduce the principal loan ?
From my understanding, you need to key in the amount (RM500) when setting up standing instruction. If this is the case then my loan will be zerorised next month and I need to pay the bank penalty for full repayment during the first 3 years.

But my mortgage officer told me that during construction period , you don't have to key in the amount when setting the SI . It will only deduct the interest of principal owned ( for my case, the interest of RM300 ) from my savings account to my loan account.

Can anyone confirm is this the case as it sound more like direct debit to me instead of SI?
2) He said that you can only  key in the full Monthly Repayment amount in the SI once the loan has been fully disbursed.

Lets say by the time the loan has been disbursed, my total loan is 500k and I already made a prepayment of 499K to reduce Principal. My Monthly Repayment Amount is RM2k.
With the SI,  what are the methods to reduce the interest without zeroing the loan and incur penalty?

Can I make a prepayment to my loan account  to a max of 497 and let the SI deduct the 2k from my savings account to my loan account every 5th of the month
to let the loan account to be 499k .Then I transfer it back to my savings account on the 3rd next month and let the cycle repeat again.
In this best case scenario,  I only pay minimal amount of interest provided I have the cash and I don't plan to settle the loan early as I might need the cash later for emergency.

Thanks
*
1. SI is literally you're giving an instruction to the bank to make a regular deduction from your savings/current account, similar to auto debit.

2. You may put prepayment up to 497k which means you incur very few interest since you're made such a high prepayment, therefore the 2k you paid every month would pay directly towards your loan principle amount of 500k.

The purpose of the flexi loan account is so that you have the flexibility to take out the money to use for other purposes. So there is no harm doing so.
ngph988
post Jan 12 2018, 12:11 PM

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QUOTE(jAsOs @ Jan 11 2018, 06:14 PM)
Hi, my question is specific to Selangorku projects and loan amount.

1. In order for me to get a joint loan, do I have to include my co-borrower’s name in the SPA?

2. Does Selangorku projects allow for joint name purchases?

Thanks in advance!
*
Yupe, joint name purchase is acceptable and you may include your co borrower in SNP.

QUOTE(soulmixx @ Jan 11 2018, 08:14 PM)
hi..
i just bought a house undercon.. my loan already approved.. right now lawyar appointed by developer charger 20% higher than lawyer appointed by bank..
it is compulsory to take lowyar from developer? or i have a right to choose?
*
It depends on developer's offer. Mostly developer will bear SNP and loan legal fees. If you were to choose your own lawyer, usually they will request you to bear SNP legal fees.

Sometimes developer only bear for SNP legal fees hence you may select your own lawyer to execute loan agreement.
Kanelam
post Jan 12 2018, 12:20 PM

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1) So i need to key in the ammount of the SI or there is no need to key in.
In this case it will deduct only the interest of the rm300
lifebalance
post Jan 12 2018, 12:24 PM

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QUOTE(Kanelam @ Jan 12 2018, 12:20 PM)
1) So i need to key in the ammount of the SI or there is no need to key in.
In this case it will deduct only the interest of the rm300
*
No need, RHB will auto update the figure for you based on the progressive payment stages



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