Hi, is there any difference/advantage between refinancing a landed freehold house vs a leasehold condo?

no difference / advantage.

ok thanks for the reply

i have a question on MRTA, appreciate some guidance. Loan amount RM588k

I have been offered by 2 banks same loan amount, one bank (Bank B) higher interest rate by 0.17% than Bank A

However the MRTA is different by both banks. bank A asking for RM30k (35+4 years for construction period) whereas bank B asking RM17k (35 years). in the end both installment virtually same amount

why 2 vastly different MRTA amounts? which should i choose and why?

Note: edited/updated interest rate

This post has been edited by juvaan: Mar 24 2020, 10:07 PM

Are you sure it's 1.7% difference? Or 0.17%? If really 1.7% diff ofc the lower better because it's huge diff
If you sure both are MRTA and the coverage amount is same, ofc bank B is better but still depends on the interest rate.

why dont you apply without mrta and compare the rate only decide. mrta is depends on the sum insured, your age and duration. the premium wont be so big difference. perhaps the 30k one is included some other coverage.

My bad. Typo..Its actually 0.17%

Bank A offering x% ; MRTA 30K for 39 years (including 4 years construction duration)

Bank B offering x+0.17%; MRTA 17K for 35 years.

Sum insured and loan amount same. Ok checking with bank what's the difference. So far that's the only explanation I got.

https://www.thestar.com.my/business/busines...-for-six-months

what is the best strategy? continue to pay to reduce principle or just stop paying for 6 months?

Meaning we don't have to pay anything towards our house loans during this 6 months? For undercon project, means don't need to pay anything towards progressive interest right?

need more clarification regarding the interest for the 6 months.

That's because you start serving the loan even during construction period so it's advisable to take 35+4.

Another option is to purchase MLTA.

Interest will still be accrued, so makes no difference other than stalling your installment for 6 months.

Guys I have a question on Hong Leong bank loan

Loan amount 500k
Interest 3.65%
CAPPING AT 70%
Full flexi (tag with current account)

The capping 70% is on loan amount or our amount in current account? Example :

Scenario 1:
I dump in 100k, 70k entitle to save 3.65% interest and 30k is zero saving.

Scenario 2:
70% of loan 500k is 350k.
Today I dump in 360k, 350k entitle to save interest of 3.65%, and 10k is zero saving

Normally is scenario 2 if the tnc doesn't trick you.
Mine 70% capping too but with SCB.

I see. Thanks. This cause me to worry because just now Maybank Banker called me, he said he had many years banking experience and previously was from hong leong, he asked me to take maybank loan because he told me the capping works like scenario 1. Then again I called to hong leong banker but she said it works like scenario 2..but this hong leong banker very new, thus I'm finding evidence and also ask around

I ask the same question to my banker only after applied the loan, too new that time didn't think much
She's then confirmed it's 70% based on outstanding, and I'm confirmed now when paying my progressive interests.

Thanks, I feel comfortable now, because the maybank banker the way he told me very very very confident, and the hong leong staff like a bit blur blur

subject to the TNC, copy paste the TNC in here for us to have a further reference.

Oh ok I'll post it once I get the letter offer, because the banker told me under MCO now unable to give me letter offer. Thanks bro

Maybe u could ask your banker to give u a soft copy of LO because I just got mine.
I just got the housing loan approval.

Maybank
Loan Amount 500k
35Years
3.9

Not sure whether this is a good deal,
however I got plenty of time to consider because the banker told me the due date for the offer letter will be extended because of MCO.