Quite right. OCBC was among those that had high DSR, up to 90%, but now it has been changed. Other banks simply maintained their DSR. Now HLBB's 85% has allowed many of my clients get the loans that they want. Alliance are okay too, but their documentations can be tedious for the clients.

edit: I can only speak for the banks that I am doing ya.

This post has been edited by wild_card_my: Jul 6 2015, 04:00 PM

thanks and appreciated

thanks, but to put it in simple. if i take the construction 30k loan of 6.85% with repayment of 10 years, i will need to pay additional of ~rm350/monthly for the first 10 years of my loan period?

Yes, there will be two separate loan accounts, with different tenures. BUt each tenure start at first disbursement which is within the same period.. usually the housing loan will start first since its first disbursement is when the lawyer gets the money to start their work.

thanks bro.. , Pm me the service you can provide if i decided to go for that unit.

Hi All sifu's, I'm get 2 offer. haven't decided will go which bank, need some advise

Public Bank 3.65 (BR) + 0.70 (profit) = 4.35

Cimb Bank 4.0 (BR) + 0.40 (profit) = 4.4

which is that a good deal?

lower interest rate better , no?

At face value CIMB bank would be better. But I believe CIMB forces its customer to take up flexi services? Please confirm with the. It costs RM5 to RM20 a month for flexi services, something you may or may not need.

It depends, recently AMBANK changed their base Rate from 3.99% to 3.80%, with such a jump, you can't be sure if the loan package you are getting is the best as BR changes like crazy as far as I can tell.

Hi All Sifu,

Currently I am buying my 1st property which is under construction..
Noticed that 0mortgage loan has offer flexi,semi flexi or term loan..
1)May I know what is the differences between this 3 type of mortgage loan?
2)For term loan,am I be able to dump in money to reduce the interest?Can I withdraw the money whenever I need to use and is there a charges?

1. Full-Flexi loan is a term loan product that has the flexi facility where it is usually linked or combined with a savings account. You can use this account for your salary credited account and you can move money in and out of the account just like a savings/current account. Most of them come with its own ATM card. THis is advantageous if you want to save interests that are calculated daily (daily rest) based on the amount that you have in the account. This type of loan account usually comes with RM5 to RM20 a month fees. As such, you should only get this loan account if you actually use this feature. Recommended for daily trader, not so recommended for salary earners.

2. Semi-flexi term loans on the other hand, isn't linked to any savings/current account. However, you can still dump money into the account and reduce the capital outstanding, thus reducing the interests accrued daily. The biggest difference is that the process of transfering money into and out of your loan account isn't as seamless as the full-flexi account. To dump capital into your loan account, you must write in a notice at the back of the deposited check saying "this is for CAPITAL REPAYMENT" or something along that lines, otherwise, the money would be considered as advance payment. For some banks, the advance payments can be used to reduce the outstanding loan, while not for the others. This type of loan facility has no fees whatsoever, which is what I would recommend for most people.

This post has been edited by wild_card_my: Jul 6 2015, 08:32 PM

May I know how did u manage to get 4.35 and 4.4 from those banks? as I heard a lot of bank offering lowest 4.45% now. May I know what type of home loan u applied to? full flexi semi flexi? islamic? any lock in period? did they come with mrta etc?

would like to enquire, between maybank and cimb, which bank should I try apply for, for semi flexi, variable, no lock in, no mrta loan? anyone can advise abt the diff products they have? If i go for islamic, heard it will incur lots of legal fees, is tat rite?

does it means the lower the profit, the safer?

hi guys, need help with loan application, first home buyer here.

I have options of applying the loan on following banks

1. Maybank
2. Public Bank
3. RHB
4. Hong Leong
5. UOB
6. Bank Islam
7. Bank Rakyat

Planning to apply for Maybank's loan but I heard from other ppl that Maybank's loan hard to approve

i can't speak for CIMB, but I haven;t had any problem with my clients with Maybank. Rates are variable, semi flexi (no monthly fees), no MRTA and lock ins. The legal fees aren't that much more, only a few hundreds of ringgit due to the extra documentations. You could also have a quotation from the law firms before the application just to be sure

It's not that theirs are hard to approve per se, but they are simply a little more strict with the documentations, and the DSR limit is at the lower side than other banks like Hong Leong. let me know if you need help with the application.

Well if you put it that way, sure. It's just that we don't know how the BR is going to move, up or down, and how much? No one knows and we are supposed to sign based on something we are not really sure of.

Hi all,

I need done advice. I bought an apartment for 420k. Looking for loan now. Loan officer from MBB told me must have MRTA - minimum is 5 years. Can I ask there are no charges for semi flexi? What is best interest for MBB now?

HSBC loan officer said no no need to pay legal fees and stamp duty - bank cover? Or maybe included in loan but interest is 4.55%.

Any advice for best interest rate in town?

Hello,

I dont know about branch bankers, but mortgage brokers like some of us are not required to sell MRTA as the requirement waived because we are not part of the overhead by the bank - hence no need to cross sell.

Semi-flexi don't have any charges, only full-flexi facilities have charges. At this price you can look at rates of around 4.50 to 4.55%, depending on your credit score.

Most banks can include the loan legal fees into the loan package, all my banks can do it from MBB, HLBB, OCBC, AMBANK and Alliance. But are you sure the developers are not absorbing the legal fees? If they do, good for you, if they don't no worries, as I said.

This post has been edited by wild_card_my: Jul 6 2015, 11:42 PM

can i please check again, I have heard a few banks are going to change their br in mid july, if i get my loan approved before they change their br, does my loan follow the old br or new br? and if approved aft they change their br, it would definitely follow new br?

Ambank already changed their BR to 3.8% Many banks will change every 3 months or so. I haven't kept up because there are so many changes compared to when they were using the BLR system.

Your loan will be approved based on BR + XX, where the BR will follow the current BR as announced by the bank every 3 months or so, while the spread (the + xx) will be fixed.

So today lets say your loan is approved by Ambank, and AMbank's BR is 3.8%, your spread is + .6% = your current effective rate is 4.4%. In 3 months, Ambank reduces the BR to 3.7%, then your current effective rate is 3.7% + .6% = 4.3%

Ambank reduced their BR this month!