sure how can I help you ?

Hi,

Feel free to pm me, I can process it for you immediately.

Sounds good enough

You need to check the loan whether it's a term loan or not and how is the principle deduction calculated. Going through your letter offer will tell you what you're in for.

If you're a salaried person then a semi flexi loan would do.

If you're a businessman and have a huge cash flow then full flexi is better.

interest rate is the same, just that the facility of the loan is different. as my explanation above will help you to do a decision.

Feel free to let me know if you need loan application

If you don't have much cash idle then picking any type wouldn't be much of a difference.

If you're a good investor then maximum loan is advisable because you can get other returns higher than the loan interest rate. Otherwise higher down payment is possible to reduce interest by taking a full flexi loan to reduce your interest while looking for opportunity

S&p portion must be borne by you. The loan agreement legal fees can be finance with the bank loan.

If you need help with loan application feel free to let me know via pm or whatsapp

Congratulations on your loan =)

If you plan for own stay and plan to pay it off early or having extra money at the same time. Opting for full flexi is helpful as you can put in your extra money so you can reduce your interest at the same time reducing your loan tenure.

yes you can say so. Just that you get lesser savings in your account 2 later on.

Additional 3% nett income.

Feel free to send me some info on what you do. Tq

The interest rate depends on your loan amount and also the type of land that a property can be built on it, the range goes from 4.4 to 5%, will need to get more detail on your purpose on whether you're financing to buy the land on construct a bungalow on it.

Hi,

Refinancing works like this, if your value now is 310k, they will take 80% - 90% of the market value and refinance you 248k - 279k.

So your cash out portion would be 279k - 150k = 129k

If you need to refinance it and need to talk further feel free to whatsapp or PM me.

Hi,

Depends on your agreement with the seller, if during down payment, some amount is paid to the vendor, then you just minus out some of the amount like for example booking fee of RM1,000. In the S&P of course it can be drafted to say the amount 100% payment will be upon loan disbursement minus whatever booking cost earlier.

is your purchase an undercon project ?

If so, the property agent can't take in this 10% as this is out of the norm, most likely he's trying to tie you down with this 10% story to get you committed.

But this is not the usual practice, you may argue this with the property agent. If he still insist, it's up to you to decide to pull out or commit this 10% ... it's a huge risk for you as the purchaser

For example

If you took a loan of 300k for 35 years @ 4.5% interest
Your repayment is RM1,419 per month

Now if you put in RM10,000 into your account
The repayment would have drop to RM1,372 technically, but interest still remains the same at 1419 actually

So literally, you're saving about 47 per month or RM1.57 per day.

Of course that's based on 10,000 deposit, what about higher amount ?

If you're looking at return of investment, definitely putting all your money into the flexi account will not save you alot of cost since the interest is around 4.5%, if you got any other investment that generates 7%, please go for it, use it to pay off 4.5% and you still earn 2.5%

This post has been edited by lifebalance: Feb 24 2016, 09:04 PM

The agent is only entitled to hold 2-3% of your deposit, the rest is in S&P for the remaining 7-8% deposit. This is totally out of the Board of Valuers and Property Agent practice. If convenient, please call me further to discuss on this matter.

You reduce your monthly installment per month in the calculation but you repay the same amount of interest per month, just that by paying the same repayment every month with your 10k deposit, you are effectively reducing your loan repamyent by RM47 each month.

This post has been edited by lifebalance: Feb 24 2016, 09:06 PM

Hi qkumba, there is no such practice. Kindly do not proceed

What is weird is the mode of payment of the remaining balance and the hold on to your deposits. There shouldn't be any need for holding onto your deposit and thereafter refunding it. It's like holding your money on custody while "lending" your 10% deposit interest free to your Seller for 3 months which he could use it to gain financial return. Does it even make sense ? No.

Yes and No, need to establish the type of relationship.