Thank you so much!

The last I checked with MBB, I think the offer is legit.


It's about 2.4% higher compare to current housing loan rate. No way to ask for rate revision from MBB ?? Your loan is still based on the old BLR -/+?

Hi guys...

which wan will u guys take:

4.45% with 15 years MRTA (premium around 3790)
4.5% without MRTA

Please advise if is worth to get 0.05% lower by taking up the MRTA?

Thanks

This post has been edited by MAC-tronome: Jul 27 2015, 11:57 PM

Any bank in the market currently allow to borrow 95% MOF?
So far, I have inquired three banks. All three only up to 90%.

Please enlighten me as I wish to borrow 95%, so that I can allocate some cash for renovation.
Thanks.

Old BLR + 0.1%

I've tried refinancing once in 2011. It got stuck at MOT as the developer refused to transfer strata title as I was not using their panel law firm or something. Bank's lawyer wanted to do it themselves. And I think my lawyer had no backbone when dealing with this issue. I'm stuck somewhere.

Anyhoo I decided to pay off the loan and then get the title transferred and if needed, refinance from there (cleaner transaction). Balance is only about 20% left, take the extra 2.2% sting/year (it's not that much anyway - tiny apartment).

Btw I dont know how to ask for rate revision .

This post has been edited by Syd G: Jul 28 2015, 09:16 AM

Hi Neo,

For 95% financing, actually bank only help finance up to 90%, as for the 5% actually is the legal fees, MRTA/MLTA and valuation (if any).

Looking at 2 loan options here:

1) Ambank (4.45%, 90%, 35years ) - Full Flexi: No withdrawal fee. Setup Fee RM 100. Monthly Charges RM10 (Waived if loan current account has RM 1000 access money).

2) Public Bank (4.40%, 90%, 35years ) - Semi Flexi - Withdrawal fee RM 50. No setup fee. Minimum withdrawal amount is RM 5000.

3) Public Bank (4.40%, 90%, 35years ) - Full Flexi - No withdrawal fee. Setup fee RM 200. Monthly Charges RM 10.
Only 50% of the access Money will be reduced from the loan amount.


I like the Public Bank rate, but their full flexi is not that attractive. My idea is to channel both mine and my wife's salary to the current account every month to reduce the overall loan amount(since interest is calculated daily). We will eventually transfer our salary from the current account whenever we want to use it.

Do advice if my salary transferring idea using full flexi loan seems flawed. Also do advice if got any other bank which can offer more attractive packages.

I got my O/D rate revised with a call then followed by an official request letter. I gave simple reason like the market rate is lower than my current rate.

Why not taking the 2) option ? Since there is no monthly fee and the 50% thingy ?

Because im planning to put our salary into the bank as excess money to reduce our interest. So i will definitely withdraw quite often. Option 2 will charge me RM 50 every time i withdraw. So full flexi would be better.

Then better go for RHB, full flexi, no setup fee, no monthly fee, no withdrawal fee.

That sounds good. But my loan got rejected by them. Reason, I never had any other loan / credit card before. Record too clean.

By the way whats their rate now?

Edit: Any RHB guys here, do contact me if you think can get me a good package. Thank you.

This post has been edited by henchman: Jul 28 2015, 05:40 PM

This is a classic example that no borrowing doesn't mean a good thing as the bank is unable to see the repayment records so cannot judge whether the borrower is a good paymaster.

Totally agree. Anyhow having a saving account for a long period with a constant cashflow sometimes helps alot in securing a loan.

RHB is 4.5 to 4.55 depending on your creditworthiness rating.
MBB is 4.4 to 4.50 depending on your creditworthiness rating, full flexi, no monthly fee, RM25 per withdrawal.

There is a easy way to overcome your frequent withdrawal requirement. Just keep a few k monthly expenses fund into a separate interest bearing CASA such as M2U savers to minimize the costly redraw from the loan account.

Checked the M2U saver... it give 2.25% interest. But putting the money as excess amount for the loan will reduce interest of 4.45%.

You don't get my point.

Say RM5000 x (4.45-2.25)% p.a. Vs RM50 x "n" withdrawals, which one is better ??

You are rite... thats why im considering the Ambank, no transaction fees.

Hi, may I know any bank does cousin relationship? And whats the margin right? What can I do to get a higher margin, and hopefully 90% since I am paying a lot extra for HDA unit. Thanks

So far, enquire three banks for interest rate. The lowest is 4.45% Public Bank, with 30 years tenure, loan amount 680K.

Any of you guys got better offer than 4.45%? Which bank?

any details on this? i looking for loan on 550k property. kindly pm me if you have any service to offer. thanks