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

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wild_card_my
post Jun 19 2019, 05:15 PM

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QUOTE(urameshi81 @ Jun 19 2019, 03:38 PM)
Thanks. May i know which bank is that?
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Public bank. Maybank can offer 4.15%
lifebalance
post Jun 19 2019, 09:53 PM

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QUOTE(urameshi81 @ Jun 19 2019, 03:38 PM)
Thanks. May i know which bank is that?
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OCBC.
AskarPerang
post Jun 19 2019, 11:41 PM

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QUOTE(dj1 @ Jun 17 2019, 07:43 PM)
Lastly is 90 days more than enough to conclude the S&P?
My credit rating is good, do not have any debts. Do use CC, but always pay on time.

Thanks in advance
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How quick the process will determine whether it got individual/strata title already or still master title?
Freehold or leasehold property?


wild_card_my
post Jun 19 2019, 11:58 PM

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QUOTE(AskarPerang @ Jun 19 2019, 11:41 PM)
How quick the process will determine whether it got individual/strata title already or still master title?
Freehold or leasehold property?
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In general,

1. freehold would be much quicker than leasehold, as the latter would require transfer approval (although as we know some freehold in some areas require this as well)
2. individual titles would be quicker than strata titles, of which both are quicker than master titles

It has to be noted that for leasehold properties, the 90 days would start counting after you get the approval to transfer
joe8489
post Jun 20 2019, 01:45 PM

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maybank semi-flexi loan....what are the main pros n cons? ok package?
wild_card_my
post Jun 20 2019, 01:52 PM

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QUOTE(joe8489 @ Jun 20 2019, 01:45 PM)
maybank semi-flexi loan....what are the main pros n cons? ok package?
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erm, if you have no specific needs (have to be full flexi), there are no discernable differences between one semi-flexi to another. The interest calculation is based on reducing balance, MRTA optional, etc. Now with free instant transfer, one should not be locked to a single bank for one's financial needs.
lifebalance
post Jun 20 2019, 02:23 PM

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QUOTE(AskarPerang @ Jun 19 2019, 11:41 PM)
How quick the process will determine whether it got individual/strata title already or still master title?
Freehold or leasehold property?
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It will be better to get the opinion from a conveyancing lawyer.

QUOTE(joe8489 @ Jun 20 2019, 01:45 PM)
maybank semi-flexi loan....what are the main pros n cons? ok package?
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When you ask about pros and cons, what are you comparing to ?

As far as I know for MBB Semi Flexi, it's an okay package. Per Withdrawal for prepayment is RM25, you can make prepayment.
swissalto
post Jun 22 2019, 04:58 AM

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I am wondering why some bankers are using their own private email (eg: @hotmail; @yahoo etc) instead of the official email address from the banks. Every time when P&C documents such as payslips, bank statements, EPF statements, EA form etc are about to be sent to those private emails for loan application purpose, am I wondering is this legal? Anyone can explain why does this happens? Why those bankers using their private emails instead of the work email from the bank?


dj1 P
post Jun 22 2019, 09:22 AM

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Gents,

This week got about 4 bank loan proposals, I reckon next week will get the Offer Letter.

Some questions as Maybank send me a SMS, saying that the Offer Letter is valid 14 days from today:

- What does the Offer letter means? I understand that I need to get the Product Disclosure Sheet, the Offer Letter draft and terms & conditions. But is there anything in general I can ask them to amend to make it favorable to me? Like changing calendar days to working days, etc?

- Must I sign this Offer Letter before engaging SPA Lawyer?
- Can I extend the Offer Letter deadline?
- When should I engage SPA lawyer?
- If I sign this offer letter without SPA lawyer, what does it mean? Can I back out?
- Typically how long will the SPA lawyer takes to draft the SPA agreement?
- Should I approach a few property lawyers and compare the quotes?

Lastly
- House I am purchasing is a freehold property.
- The land title (geran) is good as in no issues.
- Owner mentioned that the house is fully paid up.

My biggest issue is time where suddenly workload (job wise) is high so can't really take time off.

Again, many thanks for answering my earlier queries and taking time to reply to this long query. It is my first time buying a house, and a good learning exposure so far.

Have a good weekend all

lifebalance
post Jun 22 2019, 09:54 AM

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QUOTE(swissalto @ Jun 22 2019, 04:58 AM)
I am wondering why some bankers are using their own private email (eg: @hotmail; @yahoo etc) instead of the official email address from the banks. Every time when P&C documents such as payslips, bank statements, EPF statements, EA form etc are about to be sent to those private emails for loan application purpose, am I wondering is this legal? Anyone can explain why does this happens? Why those bankers using their private emails instead of the work email from the bank?
*
Bank emails can’t receive more than certain size compared to gmail. So if you intend to send him the documents via email then it may be rejected due to size reason.

If you don’t feel safe, you can hand over the physical document.

QUOTE(dj1 @ Jun 22 2019, 09:22 AM)
Gents,

This week got about 4 bank loan proposals, I reckon next week will get the Offer Letter.

Some questions as Maybank send me  a SMS, saying that the Offer Letter is valid 14 days from today:

- What does the Offer letter means? I understand that I need to get the Product Disclosure Sheet, the Offer Letter draft and terms & conditions. But is there anything in general I can ask them to amend to make it favorable to me? Like changing calendar days to working days, etc?

- Must I sign this Offer Letter before engaging SPA Lawyer?
- Can I extend the Offer Letter deadline?
- When should I engage SPA lawyer?
- If I sign this offer letter without SPA lawyer, what does it mean? Can I back out?
- Typically how long will the SPA lawyer takes to draft the SPA agreement?
- Should I approach a few property lawyers and compare the quotes?

Lastly
- House I am purchasing is a freehold property.
- The land title (geran) is good as in no issues.
- Owner mentioned that the house is fully paid up.

My biggest issue is time where suddenly workload (job wise) is high so can't really take time off.

Again, many thanks for answering my earlier queries and taking time to reply to this long query. It is my first time buying a house, and a good learning exposure so far.

Have a good weekend all
*
Letter offer discloses all the information pertaining on the loan offered by the bank. For easier understanding, refer to the product disclosure sheet for the layman summary.

You are unable to alter any contents within the letter offer other than appealing for a lower interest rate / loan margin / tenure.

- There is no hard and fast rule, as long as you have managed to secure a housing loan, it means you’re good to go with the purchase rather than worry that your loan may not be approved for the purchase after signing a SPA.
- You extend for another 14 days
- Within 14 days upon signing the booking form or any agreed timeframe between you and the seller
- You may back out as long as your loan agreement is not signed.
- No stipulated timeframe to draft SPA until both parties agrees to the T&C on the purchase
- You can

Since the house is fully paid and title has no restrictions, transfer should be complete within 2 months.


Pac Lease
post Jun 22 2019, 02:14 PM

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QUOTE(swissalto @ Jun 22 2019, 04:58 AM)
I am wondering why some bankers are using their own private email (eg: @hotmail; @yahoo etc) instead of the official email address from the banks. Every time when P&C documents such as payslips, bank statements, EPF statements, EA form etc are about to be sent to those private emails for loan application purpose, am I wondering is this legal? Anyone can explain why does this happens? Why those bankers using their private emails instead of the work email from the bank?
*
You may always ask for banker Email which the domain is from bank. Due to the bank email got limitation of receive the file size, so you may need to separately your file into few email. This is the way how i advise my client to do so.
Drian
post Jun 25 2019, 09:51 AM

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This is a sily question because my first home loan is full flexi but how do you withdraw from a semi-flexi? Do I have to write to the bank , go to counter? Is it automated through online banking or is it manual.


coolguy99
post Jun 25 2019, 10:22 AM

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QUOTE(Drian @ Jun 25 2019, 09:51 AM)
This is a sily question because my first home loan is full flexi but how do you withdraw from a semi-flexi? Do I have to write to the bank , go to counter? Is it automated through online banking or is it manual.
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I think it’s best to check with respective banks as they have different ways of doing it. For Hong Leong it is manual over the counter, and there will be a fee for each withdrawal, RM50 if I am not mistaken.
RockStar05
post Jun 25 2019, 12:36 PM

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Hi Sifus,

Will Pajak Gadai-i Ar-Rahnu in Bank Rakyat will be a cause for a bank loan rejection? House loan specially.


Drian
post Jun 25 2019, 02:57 PM

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QUOTE(coolguy99 @ Jun 25 2019, 10:22 AM)
I think it’s best to check with respective banks as they have different ways of doing it. For Hong Leong it is manual over the counter, and there will be a fee for each withdrawal, RM50 if I am not mistaken.
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Manual, wow. I've not stepped into any banks for 10 years already.
wild_card_my
post Jun 26 2019, 05:38 PM

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QUOTE(Drian @ Jun 25 2019, 09:51 AM)
This is a sily question because my first home loan is full flexi but how do you withdraw from a semi-flexi? Do I have to write to the bank , go to counter? Is it automated through online banking or is it manual.
*
It depends on the bank. Some banks you can call ahead and they will withdraw into your savings/current account with them, but as per all "semi-flexis" you would need to wait a few days before they can arrange the funds for you. Other banks you would need to pay the branch a visit and request for a withdrawal

QUOTE(RockStar05 @ Jun 25 2019, 12:36 PM)
Hi Sifus,

Will Pajak Gadai-i Ar-Rahnu in Bank Rakyat will be a cause for a bank loan rejection? House loan specially.
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I dont recall, is there a pajak gadai entry in your CCRIS?
kino318
post Jun 26 2019, 09:14 PM

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hi sifus, what is the best bank loan offer now? my friend is getting 4.15% (BR3%+1.15%) from maybank, is this good deal?

Thks
lifebalance
post Jun 26 2019, 09:20 PM

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QUOTE(kino318 @ Jun 26 2019, 09:14 PM)
hi sifus, what is the best bank loan offer now? my friend is getting 4.15% (BR3%+1.15%) from maybank, is this good deal?

Thks
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Very good deal alreadyother offer will be very similar to maybank
kino318
post Jun 27 2019, 06:51 AM

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QUOTE(lifebalance @ Jun 26 2019, 09:20 PM)
Very good deal alreadyother offer will be very similar to maybank
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thk u sifu
Pac Lease
post Jun 27 2019, 12:09 PM

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QUOTE(RockStar05 @ Jun 25 2019, 12:36 PM)
Hi Sifus,

Will Pajak Gadai-i Ar-Rahnu in Bank Rakyat will be a cause for a bank loan rejection? House loan specially.
*
Some bank will reject such as Scb, however alliance bank can accept it.

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