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

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sss123
post Jul 30 2015, 01:30 PM

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QUOTE(Neo Light @ Jul 30 2015, 12:48 AM)
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?  icon_question.gif
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Affinbank 4.4% wihout mrta, loan amt 530k..
Publicbank 4.35% without mrta

Both semi flexi.

Still waiting for ambank..submitted more than 2 wks ago, havent got approval yet...and yet the manager actually promised to giv me a reply within 1 wk...dun really trust them now..plus their counter service is really bad...the staffs r quite rude too..

Publicbank service is ok..at least efficient..i got reply fr them within 1wk over raya holiday..

Affinbank very troublesome...ask for lots of additional documents which other bank nv req for..And also take ages to process loan approval..

Rhb even worse, went there first time the loan ppl not in left my contact they nv contact me, second time go the person was so rude and not helpful..actually went to 2 diff branches and end up din get to apply coz the loan ppl not in...if they dun wanna giv out loan better just close their loan service..swore i will nv use their service anymore...gonna close my savings acc too..

Guess u should also take into consderation the bank servixe when choosing loan...if bank cause so much troubles its really a waste of time and money..and who knows wat will go wrong if some r so unproffessional..

ims2628
post Jul 30 2015, 01:37 PM

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QUOTE(Neo Light @ Jul 30 2015, 12:48 AM)
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?  icon_question.gif
*
Depends on profile grading but this loan amount there's bank offer lowest 4.4 for normal, and priority or first grading customer able appeal to 4.35
sss123
post Jul 30 2015, 01:44 PM

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QUOTE(Neo Light @ Jul 30 2015, 12:48 AM)
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?  icon_question.gif
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Btw, watever rate they offer u before application dun take it too seriously..as the final decision is not made by them..and can always appeal aft the approval till u get the rate u want...

My publicbank previously was 4.5%, affinbank4.45%, and before the appeal the agent kept convincing me to get mrta to get lower rate, in the end i still get lower rate without mrta..so dun giv in too easily..should fight till u r happy with the rate..
sss123
post Jul 30 2015, 01:52 PM

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QUOTE(henchman @ Jul 28 2015, 02:48 PM)
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.  shocking.gif
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.
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I have checked with ambank agent, she said not possible to ask for waiver for the monthly fees...there will always be a monthly fees..may i know how do u get the waiver huh?
Neo Light
post Jul 30 2015, 04:24 PM

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QUOTE(sss123 @ Jul 30 2015, 01:44 PM)
Btw, watever rate they offer u before application dun take it too seriously..as the final decision is not made by them..and can always appeal aft the approval till u get the rate u want...

My publicbank previously was 4.5%, affinbank4.45%, and before the appeal the agent kept convincing me to get mrta to get lower rate, in the end i still get lower rate without mrta..so dun giv in too easily..should fight till u r happy with the rate..
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MRTA is not compulsory?
Both Public and Maybank said must take MRTA if apply housing loan. True?
I walk in to bank house loan counter and enquire.

Is it better to enquire via bank sales ppl that can come and meet me near my office? They give better rate?
Neo Light
post Jul 30 2015, 04:26 PM

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QUOTE(sss123 @ Jul 30 2015, 01:44 PM)
Btw, watever rate they offer u before application dun take it too seriously..as the final decision is not made by them..and can always appeal aft the approval till u get the rate u want...

My publicbank previously was 4.5%, affinbank4.45%, and before the appeal the agent kept convincing me to get mrta to get lower rate, in the end i still get lower rate without mrta..so dun giv in too easily..should fight till u r happy with the rate..
*
MRTA is not compulsory?
Both Public and Maybank said must take MRTA if apply housing loan. True?
I walk in to bank house loan counter and enquire.

Is it better to enquire via bank sales ppl that can come and meet me near my office? They give better rate?
Jasoncat
post Jul 31 2015, 12:07 AM

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QUOTE(Neo Light @ Jul 30 2015, 04:26 PM)
MRTA is not compulsory?
Both Public and Maybank said must take MRTA if apply housing loan. True?
I walk in to bank house loan counter and enquire.

Is it better to enquire via bank sales ppl that can come and meet me near my office? They give better rate?
*
No such rule that borrower must take MRTA if apply housing loan. But if the financier wants to make it as an approved term that MRTA is required for the loan offer, then you may appeal to remove it. If the financier still insists on it, then you can either accept it or just walk away.
choywm
post Jul 31 2015, 12:31 PM

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I am looking to refinance with cashout.

Is there any banks that can offer the cashout as OD with term loan rates or close to it? Pls pm me.

Not so keen on full flexi.
sss123
post Jul 31 2015, 01:26 PM

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QUOTE(Neo Light @ Jul 30 2015, 04:26 PM)
MRTA is not compulsory?
Both Public and Maybank said must take MRTA if apply housing loan. True?
I walk in to bank house loan counter and enquire.

Is it better to enquire via bank sales ppl that can come and meet me near my office? They give better rate?
*
I guess if profile grading is good, they really wan u to sign their loan, can actually apply without mrta, they will still giv u good rate..

Mrta is obsolutely optional, the sales person will always stress to take up mrta but in the end of the dy its yr own choice..
Neo Light
post Aug 1 2015, 12:58 AM

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I am planning to take a housing loan.
Still considering whether or not to incorporate MRTA into my housing loan.
I currently have an existing life insurance policy with 150k sum insured for death & permanent disability.

Lets say my loan amount is 500k.
Which is better move:

A) Take MRTA and cover 500k.

OR

B) Increase my existing life policy from current 150k to 500k.


I am not sure which premium is cheaper. If you are me, which option above you will go for?
ims2628
post Aug 1 2015, 01:52 AM

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QUOTE(Neo Light @ Aug 1 2015, 12:58 AM)
I am planning to take a housing loan.
Still considering whether or not to incorporate MRTA into my housing loan.
I currently have an existing life insurance policy with 150k sum insured for death & permanent disability.

Lets say my loan amount is 500k.
Which is better move:

A) Take MRTA and cover 500k.

OR

B) Increase my existing life policy from current 150k to 500k.
I am not sure which premium is cheaper. If you are me, which option above you will go for?
*
Mrta is cheaper but mrta is without cash value and can't bring forward to next property, and once refinance you have to buy again.

Instead of increase your existing policy why don't you buy another that covered value 350k. As for me I will advice take mlta as it have cash value and can bring forward to next property and it can help you to do early statement to save up interest at least 5 years and above
Neo Light
post Aug 1 2015, 02:29 AM

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QUOTE(ims2628 @ Aug 1 2015, 01:52 AM)
Mrta is cheaper but mrta is without cash value and can't bring forward to next property, and once refinance you have to buy again.

Instead of increase your existing policy why don't you buy another that covered value 350k. As for me I will advice take mlta as it have cash value and can bring forward to next property and it can help you to do early statement to save up interest at least 5 years and above
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Thanks for highlighting the cash value. Ok lets compare MLTA(500k) vs LIFE insurance(500k) for 30 years. Will you increase your life policy to 500k from previous 150k?

MLTA premium still cheaper? or?

I am asking that because my property is joint-name. I want my loved one to get protected.
ims2628
post Aug 1 2015, 03:22 AM

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QUOTE(Neo Light @ Aug 1 2015, 02:29 AM)
Thanks for highlighting the cash value. Ok lets compare MLTA(500k) vs LIFE insurance(500k) for 30 years. Will you increase your life policy to 500k from previous 150k?

MLTA premium still cheaper? or?

I am asking that because my property is joint-name. I want my loved one to get protected.
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Mlta need to pay yearly as compare with mrta just pay once, but mlta have cash value and able do early statement for your property if there's nothing happen to you during the whole loan period.

For me instead of increase life policy I will buy another one with value 350k because once top up the whole plan will be diff.. And what's your main purpose of buying life? Because you want your Loved one to get this amount when anything happen to you right? Why don't buy one 500k premium to protect this house and the 150k as extra cash for them if you can afford. You can always seek for quotation and compare the price for 350k and 500k, feel free to pm me your loan amount, gender, age, occupation and smoker or none smoker, I can quote you a list of mrta and mlta so that you can do comparison.

Mrta maybe need you to pay huge amount but it only pay once, as for mlta is pay yearly , half yearly, quarterly , or monthly
MAC-tronome
post Aug 2 2015, 11:32 AM

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anyone know difference of islamic loan vs normal?
aeiou228
post Aug 2 2015, 12:31 PM

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QUOTE(MAC-tronome @ Aug 2 2015, 11:32 AM)
anyone know difference of islamic loan vs normal?
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One major difference that I know is there is no flexibility to make prepayment and redraw.
ims2628
post Aug 2 2015, 09:51 PM

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QUOTE(MAC-tronome @ Aug 2 2015, 11:32 AM)
anyone know difference of islamic loan vs normal?
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Whole picture is Islamic loan there's 20% discount in stamping fees however lawyer professional fees charge will be slightly higher because they need to prepare more documentation. Some bank package for Islamic is slightly diff like there's no flexi package, some is without lock in. So need to compare base on your prefer bank.
jackor
post Aug 3 2015, 04:22 PM

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Dear Sifu, need advice...

Looking to do a re-finance of property for estimate RM400K.. RM300K to off-set previous bank and RM100K extra for other purpose. So far which bank can offer the better package, preferred those bank that can have flexi withdraw allow...

wfeng
post Aug 3 2015, 11:13 PM

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One question to ask

under either full flexi or semi flexi loan, is it no difference in term of interest charges between:

1) Advanced payment thus the loan outstanding reduced
2) Park the money under CASA for interest reducing purpose

coz from what i understood. let say if i pay RM2k for the loan, it will reduce the outstanding balance hence the interest charge will be reduced.
OR if i put 2k under the CASA, the interest charge will be reduce/offset by 2k amount.

am i right ?
if yes, as a conclusion. it's better to park money under CASA than make advanced payment due to liquidity purpose ?

please enlighten me
Thanks
aeiou228
post Aug 3 2015, 11:34 PM

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QUOTE(wfeng @ Aug 3 2015, 11:13 PM)
One question to ask

under either full flexi or semi flexi loan, is it no difference in term of interest charges between:

1) Advanced payment thus the loan outstanding reduced
2) Park the money under CASA for interest reducing purpose

coz from what i understood. let say if i pay RM2k for the loan, it will reduce the outstanding balance hence the interest charge will be reduced.
OR if i put 2k under the CASA, the interest charge will be reduce/offset by 2k amount.

am i right ?
if yes, as a conclusion. it's better to park money under CASA than make advanced payment due to liquidity purpose ?

please enlighten me
Thanks
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1) correct. Reduce principal will reduce interest charge.
2) don't understand what you mean. You park money in casa, you don't reduce loan principal. Thus, no interest saving.

It's betty to park into your loan account to reduce loan principal.


wfeng
post Aug 3 2015, 11:54 PM

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For 2,
Coz for semi-flexi we will open an savings acc for the loan, and the money put in the savings will automatically offset the interest in daily basis. is n't it that way ? or any technical term i should use for that particular savings acc.

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