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

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joe8489
post May 17 2019, 02:48 PM

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Low BR or Low BLR is better?

of course ideally...both is low!

but if only 1 is low? which should it be?
wild_card_my
post May 17 2019, 04:02 PM

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QUOTE(joe8489 @ May 17 2019, 02:48 PM)
Low BR or Low BLR is better?

of course ideally...both is low!

but if only 1 is low? which should it be?
*
Ermm.. is there a choice? If your morthage is old it would be based kn BLR. If it is new ir current it would be based on BR
diners
post May 18 2019, 12:29 PM

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i am meeting my bank agent to sign LO tomorrow, while she shared with me the LO soft copy.

I saw a clause that i have some concern, it reads...

"the bank has the right to vary the loan pricing i.e. the interest spread and/or BR in accordance with prevailing BNM guidelines"

they can adjust the spread, while i thought is fixed throughout the tenure?
coolguy99
post May 18 2019, 03:18 PM

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QUOTE(diners @ May 18 2019, 12:29 PM)
i am meeting my bank agent to sign LO tomorrow, while she shared with me the LO soft copy.

I saw a clause that i have some concern, it reads...

"the bank has the right to vary the loan pricing i.e. the interest spread and/or BR in accordance with prevailing BNM guidelines"

they can adjust the spread, while i thought is fixed throughout the tenure?
*
Nope they can adjust the base rate anytime. For example if the opr increases or decreases.
diners
post May 18 2019, 03:41 PM

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QUOTE(coolguy99 @ May 18 2019, 03:18 PM)
Nope they can adjust the base rate anytime. For example if the opr increases or decreases.
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Thanks. But how about the spread - I thought it should be fixed?
AskarPerang
post May 18 2019, 07:05 PM

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QUOTE(diners @ May 18 2019, 03:41 PM)
Thanks. But how about the spread - I thought it should be fixed?
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Effective interest rate = BR (variable) + fixed spread
robeng
post May 19 2019, 10:17 AM

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QUOTE(wild_card_my @ May 16 2019, 03:44 PM)
Cool. For future and others' references, in general, here are the information required for valuation:

Property valuation request form

The first letter of the applicant's name:
Property address:
Property type (terraced/semi-D, etc.):
Number of floors:
Built-up area (sq. ft.):
Land area if applicable (sq. ft.): -
Renovations/extensions done to the property (as detailed as possible):
Cost of renovations/extensions (RM):

Completion year:
Title type (master/strata/individual):

Expected market/asking price (RM):
Financing type (subsale/refinance/completed-developer unit):
Has the booking fee been paid? (n/a for refinancing):

Please provide property photos if availablee
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Check your pm bro
Vintage_X
post May 20 2019, 12:55 AM

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QUOTE(diners @ May 15 2019, 08:26 AM)
Thanks for you inputs on flexi loans. Will consider it.

Yesterday went to request the PDS from the 3 banks (and boy you got all of them correct!) to compare the COF. I agree with you that PBB and MBB are stable compared to HLBB. I think I had made my decision. Thanks!
*
Mind sharing what’s your final decision?

1. What’s the effective interest rate?
2. Full or semi flexi?
3. Did it include any MRTA/ MLTA/ OLTA?

BTW, what is PDS and COF? Sorry for asking so many questions as I’m also considering taking a loan with MBB or PBB. Many thanks!
diners
post May 20 2019, 10:59 AM

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QUOTE(Vintage_X @ May 20 2019, 12:55 AM)
Mind sharing what’s your final decision?

1. What’s the effective interest rate?
2. Full or semi flexi?
3. Did it include any MRTA/ MLTA/ OLTA?

BTW, what is PDS and COF? Sorry for asking so many questions as I’m also considering taking a loan with MBB or PBB. Many thanks!
*
signed my Letter Offer yesterday, sealed the deal with PBB at 4.15%, semi-flexi (cuz i dont have much cash running around anyway laugh.gif ) included OLTA.

OLTA is a little bit pricy but i am fine with that, it's within my budget. i also met with my insurance agent later the day to buy MLTA separately. so if anything happens my MLTA+OLTA=covers the house+extra leftover for my family.

PDS = product disclosure sheet.
inside PDS, there is COF (Cost of Funds), this determines the BR of the bank aside from BNM's OPR.

you can study the COF and see the BR trend of the bank. i see HLBB have fluctuations, MBB and PBB are quite stable (at least following OPR).

let the lowest ELR wins.
lifebalance
post May 20 2019, 11:51 AM

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QUOTE(diners @ May 18 2019, 12:29 PM)
i am meeting my bank agent to sign LO tomorrow, while she shared with me the LO soft copy.

I saw a clause that i have some concern, it reads...

"the bank has the right to vary the loan pricing i.e. the interest spread and/or BR in accordance with prevailing BNM guidelines"

they can adjust the spread, while i thought is fixed throughout the tenure?
*
BR fluctuates while the spread is Fixed.

Spread will be varied once you don't abide to the Letter Offer T&C
diners
post May 20 2019, 01:06 PM

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QUOTE(lifebalance @ May 20 2019, 11:51 AM)
BR fluctuates while the spread is Fixed.

Spread will be varied once you don't abide to the Letter Offer T&C
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Yeap - got the confirmation from my banker that this clause is to support should I default or never pay within the timeframe.
dannychen
post May 20 2019, 02:53 PM

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QUOTE(diners @ May 20 2019, 10:59 AM)
signed my Letter Offer yesterday, sealed the deal with PBB at 4.15%, semi-flexi (cuz i dont have much cash running around anyway  laugh.gif ) included OLTA.

OLTA is a little bit pricy but i am fine with that, it's within my budget. i also met with my insurance agent later the day to buy MLTA separately. so if anything happens my MLTA+OLTA=covers the house+extra leftover for my family.

PDS = product disclosure sheet.
inside PDS, there is COF (Cost of Funds), this determines the BR of the bank aside from BNM's OPR.

you can study the COF and see the BR trend of the bank. i see HLBB have fluctuations, MBB and PBB are quite stable (at least following OPR).

let the lowest ELR wins.
*
such a good deal. may I know your loan amount?
Vintage_X
post May 20 2019, 03:21 PM

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QUOTE(diners @ May 20 2019, 10:59 AM)
signed my Letter Offer yesterday, sealed the deal with PBB at 4.15%, semi-flexi (cuz i dont have much cash running around anyway  laugh.gif ) included OLTA.

OLTA is a little bit pricy but i am fine with that, it's within my budget. i also met with my insurance agent later the day to buy MLTA separately. so if anything happens my MLTA+OLTA=covers the house+extra leftover for my family.

PDS = product disclosure sheet.
inside PDS, there is COF (Cost of Funds), this determines the BR of the bank aside from BNM's OPR.

you can study the COF and see the BR trend of the bank. i see HLBB have fluctuations, MBB and PBB are quite stable (at least following OPR).

let the lowest ELR wins.
*
Thank you for the prompt response!

According to my PBB banker, if you would like to make part settlement if you have extra funds:

Full flexi
- you will need to incur at least 30% of the required interest
- no withdrawal fee

Semi flexi
- no such requirement with semi-flexi
- withdrawal fee of RM25/50
diners
post May 20 2019, 03:26 PM

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QUOTE(dannychen @ May 20 2019, 02:53 PM)
such a good deal. may I know your loan amount?
*
my loan amount 520k smile.gif smile.gif

so happen when applying for loan, BNM announced the drop in OPR.

according to the banker(s), it will increase the spread to meet the ELR up to around 4.4% +- after awhile to meet back the market.

This post has been edited by diners: May 20 2019, 03:29 PM
diners
post May 20 2019, 03:28 PM

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QUOTE(Vintage_X @ May 20 2019, 03:21 PM)
Thank you for the prompt response!

According to my PBB banker, if you would like to make part settlement if you have extra funds:

Full flexi
- you will need to incur at least 30% of the required interest
- no withdrawal fee

Semi flexi
- no such requirement with semi-flexi
- withdrawal fee of RM25/50
*
Yes yes, you are correct.

but for me, i'll reduce my tenure by paying monthly commitment+a little extra every month and when i have increment yearly. withdrawal is RM50/transaction at denomination of 1000s, i think it's once a month (for semi flexi).
Vintage_X
post May 20 2019, 03:35 PM

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QUOTE(diners @ May 20 2019, 03:28 PM)
Yes yes, you are correct.

but for me, i'll reduce my tenure by paying monthly commitment+a little extra every month and when i have increment yearly. withdrawal is RM50/transaction at denomination of 1000s, i think it's once a month (for semi flexi).
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How many years is your OLTA?
diners
post May 20 2019, 03:52 PM

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QUOTE(Vintage_X @ May 20 2019, 03:35 PM)
How many years is your OLTA?
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200k for 20years, premium around RM5k one-off smile.gif
budang
post May 21 2019, 02:09 PM

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QUOTE(diners @ May 20 2019, 10:59 AM)
signed my Letter Offer yesterday, sealed the deal with PBB at 4.15%, semi-flexi (cuz i dont have much cash running around anyway  laugh.gif ) included OLTA.

OLTA is a little bit pricy but i am fine with that, it's within my budget. i also met with my insurance agent later the day to buy MLTA separately. so if anything happens my MLTA+OLTA=covers the house+extra leftover for my family.

PDS = product disclosure sheet.
inside PDS, there is COF (Cost of Funds), this determines the BR of the bank aside from BNM's OPR.

you can study the COF and see the BR trend of the bank. i see HLBB have fluctuations, MBB and PBB are quite stable (at least following OPR).

let the lowest ELR wins.
*
4.15% sound like a good deal ohmy.gif
WahBiang
post May 21 2019, 05:57 PM

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Some queries regarding housing loan.

1. Assuming I have 3 housing loan with all under residential title, at 90%, 90% and 70% margin of loan respectively.... if one of the 90% loan house was sold later on, would I be able to get the next new loan at 90% margin (since the remaining loans are at 90% and 70% margin)?? or it will be at 70% margin again (as it will be the 3rd loans)??
2. With the recent reduction of OPR, the banks reduced the BR, but would they increases the profit loading? Since the effective rate is BR + y%, BR drop, but bank would bank up the y% for new loans and causing the effective rates eventually unchanged??
lifebalance
post May 21 2019, 06:15 PM

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QUOTE(WahBiang @ May 21 2019, 05:57 PM)
Some queries regarding housing loan.

1. Assuming I have 3 housing loan with all under residential title, at 90%, 90% and 70% margin of loan respectively.... if one of the 90% loan house was sold later on, would I be able to get the next new loan at 90% margin (since the remaining loans are at 90% and 70% margin)?? or it will be at 70% margin again (as it will be the 3rd loans)??
2. With the recent reduction of OPR, the banks reduced the BR, but would they increases the profit loading? Since the effective rate is BR + y%, BR drop, but bank would bank up the y% for new loans and causing the effective rates eventually unchanged??
*
1. No, subject to 70% as well

2. SR is fixed, the change will only be on the BR.

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