Thank you for your prompt yet detailed reply.

However, I have difficulty deciphering the tables. Does that mean I am entitled to the loan or otherwise.

Duly noted on the tenancy agreement and it shouldnt be an issue.

As for the bonus, we are young working adult and we are yet to complete our second year of working, hence we could only produce one year bonus slip.

Thanks alot

To be frank base on your gross income I counted included with tenancy agreement there's no problem with the loan already, so bonus slip is not necessary

Wow, you didn't have to be so tipsy and jumpy when I simply made a point that added to the discussion. It takes a lot of years of experience to go through the industry and everything has a first; and it is of the utmost importance that we are open to all opinions and possibilities.

To be honest, I find it difficult to comprehend what you said in your post above. It's like you are rambling on and on trying to throw everything at me. Getting a little calmer before you put your thoughts into words would definitely help a little. Finally, I hope that I have not stepped on your feet or offended you in anyway.

By the way, since we are talking, the "resident" in my signature refers to "someone who maintains a residency in a given place" as opposed to commercial vs residential. Just saying, since your signature looks eerily close to mine. If you haven't drawn any inspirations from mine, then I apologize upfront for accusing you of doing a crime that you did not do.

Regardless, have a good day. We are running the same business after all, there is no need for bad blood between agents.

Thanks for the feedback! I may need to tweak the table so it gets easier to read. Now that you mention it, the importance pieces of information to be presented needs to be a little more... stand-out

Based on my calculation, you can borrow up to RM1,036,000, based on HLBB's 85% DSR. Different banks have different DSR limit, so please keep that in mind when making the application.

Understood about the 1 year bonus pay slip. It will then be up to the credit controller to accept or reject the bonus income. With some banks, a simple bonus payslip is enough, while others require 2 years worth of EA form.

Best of luck to you, and let me know if you need anything else.

Would like to check usually how long to complete the loan agreement document process. Currently, bank has already disbursed the loan to developer. I also collected the key from developer, just that I yet to collect my loan agreement contract. I do approached my solicitor as she said that the title still at land office, so wait. But it is about 1 month already, has anyone got the same experienced as me?

Yes, the speed is limited by how fast the land office is handling the case. And it also depends on the land office that is processing it. A client of mine had dibs with the people in the land office and had it done very quickly. But for normal cases people just have to wait as there isn't much that the solicitor could do.

For properties with strata title, it would take the longest by the land office. Normal processing time is between 6 to 12 months (!!), it is especially bad for land offices in WP.

For properties with individual title, it would normally take between 30 to 40 days, the longest being for land offices in WP.

This post has been edited by wild_card_my: Jul 1 2015, 11:33 AM

Thanks for your explanation, actually what I want just an explanation. I am not trying to chase my solicitor, but she can just explains to me usually it takes about 30-40 days or even longer to process but not just replied me still waiting and afterward ignore my message for few weeks. In that cases, I would think is it any problem causing the delay. Also, I worrying will bank charging me penalty cost because of late. Since they already disbursed the loan but loan agreement still haven't yet completed.

Really thanks for your explanation.

which bank offers zero lock in and attractive rates for now?

What is the loan amount that we are looking at ya?

approx 420k sir.

Average lowest should be 4.4 for this loan amount, yes there's few bank is without lock in period

I'm looking for the lowest flexible (no lock-in period whatsoever) Islamic loan for my about-to-purchase apartment.

Looking for a RM1mil loan. Any recommendation? So far what i got is 4.4%.

Sorry double post.

This post has been edited by Xonius: Jul 1 2015, 04:46 PM

Depends on profile grading, for this loan amount interest rate can go as low as 4.35%

hi would like to ask, for a loan amt of 560k, if bank interest rate differ by 0.15%, would it make a lot of difference in terms of interest paid? Thanks for answering..

Yes quite a lot in long run and estimate around RM30++, But there's always a choice, you can always refinance to others bank after lock in period for lower interest rate choose bank you feel you're more comfortable with and convenient for you for loan repayment.

For every 0.1% of interest difference, for every year, for every rm100k outstanding, you are paying RM100 extra to the bank.

Since your loan is RM500K you would be paying RM500 extra a year to the bank, of course his gets reduced as the outstanding diminishes.

Refinancing just to save interests of 0.1% or so is a waste of money. Typically the moving cost is about 2% of the loan amount.

I'm going to use a basic calculation here: if you are refinancing in the future just to save 0.1 % it would take 20 years for you to recoup the cost of the 2% Legal Valuation and Stamp duty fees.

I have to admit that agents like myself would prefer for you to refinance since it is for the agents' own interest when the clients refinance. So it is important for the clients to understand that us advisers are here only to advice but it is you who will pull the trigger and get the benefits or incur the loses.

I've actually had a long discussion about refinancing, everyone can take a look at it here:

https://forum.lowyat.net/topic/3438769#

This post has been edited by wild_card_my: Jul 1 2015, 07:15 PM

4.4% is about the average if it is higher we can alway appeal although the is no guarantee of success. For no lock in periods we should apply for Islamic loans.

This post has been edited by wild_card_my: Jul 1 2015, 07:19 PM

Is it subsale or purchase from developer ya?

4.35% is quite achievable after a short appeal process. For no lock-in periods then Islamic loans are the right choice