Thats what i have in mind. Thx bro

the only way is to refinance if you wish to follow your islamic law.

Which bank giving 3.7% now? 😅 i m lazy to ask my bankers

Most Banks? Just submit and ask.

hi, just to clarify for this 6 mths moratorium the interest still running but not compounded, right?

eg:

current outstanding loan rm100k with monthly interest rm500, so whoever who opt for it by 7th month the total outstanding will be :-

rm103k [rm100k + interest (6 x rm500)], right?

This post has been edited by quintesson: Apr 1 2020, 05:25 AM

yes, spot on.

i have a semi flexi loan from HLB

anyone knows how do i reduce the interest? or is it possible before full disbursement? still paying progressive now.

so far i have been pumping extra amount every month, however the extra amount is shown as 'Advanced Payment' instead of reducing the outstanding amount.

Hi Guys,

Planning to get my 1st property in this year.
Seeking the sifus to advise for the below:

(1) Property price @ 760k
After discount - Newly launched project, double storey landed, freehold.

(2) Loan amount @ 650k
Tenure of 35 years (Plan to place 15% d/p)

(3) MRTA/MLTA
Which one is advisable for first property, for own stay.
How much additional per month needed if amortize into the loan?
I heard, most banks will require you to opt-in their policy to enjoy better interest rates.

(4) Semi/Flexi Type
In my understanding, both shared similar characteristics.
But Flexi offers better cash flow option, with higher charges? I'm confused.

(5) Banks
Typically, Bank C has the most transactions as it's salary account.
Other 2 banks in considerations are Bank P & Bank M.

Seek to hear from the sifus here soon, thanks.

[quote=Kanbawza,Apr 3 2020, 10:39 PM]
Hi Guys,

Planning to get my 1st property in this year.
Seeking the sifus to advise for the below:

(1) Property price @ 760k
After discount - Newly launched project, double storey landed, freehold.

(2) Loan amount @ 650k
Tenure of 35 years (Plan to place 15% d/p)

(3) MRTA/MLTA
Which one is advisable for first property, for own stay.
How much additional per month needed if amortize into the loan?
I heard, most banks will require you to opt-in their policy to enjoy better interest rates.

(4) Semi/Flexi Type
In my understanding, both shared similar characteristics.
But Flexi offers better cash flow option, with higher charges? I'm confused.

(5) Banks
Typically, Bank C has the most transactions as it's salary account.
Other 2 banks in considerations are Bank P & Bank M.

Seek to hear from the sifus here soon, thanks.

[/quo

Mrta is option to purchase or finance into your loan. Premium will be depend on your loan amount , Age and tenure to be cover.

Since you are buying house from developer,hence. You need to apply the loan with their panel bank. Try to apply 3 bank. Once the loan approval, u can ask banker to give you view the letter offer and you can ask them to explain the loan detail to you.

3) Most banks will offer you this condition. I know HLB do not impose such condition. If banks really set this condition, and you think that you do not need MRTA, just take the min sum insured.

4) Flexi account has a monthly RM10 fee, while offering better flexibility (i.e. you can withdraw anytime)

5) Just get the one who offers the lowest rate.

(3) MRTA/MLTA
Which one is advisable for first property, for own stay.
How much additional per month needed if amortize into the loan?
I heard, most banks will require you to opt-in their policy to enjoy better interest rates.

~ You are taking Above RM500K loan, technically should cover yourself with insurance or else next of kin going to scream blood. As for MRTA or MLTA would depends on your appetite or ability.

(4) Semi/Flexi Type
In my understanding, both shared similar characteristics.
But Flexi offers better cash flow option, with higher charges? I'm confused.

~ Different banks, different product features on Full Flexi. So got to measure them up properly.

(5) Banks
Typically, Bank C has the most transactions as it's salary account.
Other 2 banks in considerations are Bank P & Bank M.

~ Choose the better rates and also whether your FA is reachable if you have any queries even after the deal is done.

[quote=Pac Lease,Apr 4 2020, 08:20 AM]
[quote=Kanbawza,Apr 3 2020, 10:39 PM]
Hi Guys,

Planning to get my 1st property in this year.
Seeking the sifus to advise for the below:

(1) Property price @ 760k
After discount - Newly launched project, double storey landed, freehold.

(2) Loan amount @ 650k
Tenure of 35 years (Plan to place 15% d/p)

(3) MRTA/MLTA
Which one is advisable for first property, for own stay.
How much additional per month needed if amortize into the loan?
I heard, most banks will require you to opt-in their policy to enjoy better interest rates.

(4) Semi/Flexi Type
In my understanding, both shared similar characteristics.
But Flexi offers better cash flow option, with higher charges? I'm confused.

(5) Banks
Typically, Bank C has the most transactions as it's salary account.
Other 2 banks in considerations are Bank P & Bank M.

Seek to hear from the sifus here soon, thanks.

[/quo

Mrta is option to purchase or finance into your loan. Premium will be depend on your loan amount , Age and tenure to be cover.

Since you are buying house from developer,hence. You need to apply the loan with their panel bank. Try to apply 3 bank. Once the loan approval, u can ask banker to give you view the letter offer and you can ask them to explain the loan detail to you.

[/quote]

Thanks for the reply.
Yup, I have yet to find out more details with the developers' recommended bankers.
As we're in MCO period, nothing much can do at the moment.

After the docs submission, banks will provide their L/O after their assessment.
This inclusive of the MRTA/MLTA, it comes before or after the L/O?
And we'll negotiate with the banks based on their L/O inclusive MRTA/MLTA, am i right?

Thank you for your advise.
Indeed, should choose the banks which offer better rates and the FA service.
Otherwise, after you sign the on the dotted line, there's no turning back.

Thank you bro for the info, i'll check and study of HLB mortgage facilities again.
Of course, will compare the offers which offer the best rate.

Hello sifus, is a 413k loan, 35 years tenure at 3.8% a good rate? Or should I find out what's their base rate & spread rate to further determine whether is it good or bad?

Should be able to get 3.70% ~ 3.80% pa.. as for Base Rate, should refer to your FA as they would know what they are offering.

Just found out it's 3.25% Base Rate + 0.55% Spread Rate.

good SR pf 0.55% as this is fix vs BR which will variable although outlook will remain low amid the current challenging time

Is 0.55% SR a good rate?

What percentage of SR is considered good? Is there a benchmark / reference point?

I receive an offer of Rate:
First yrs: BR+0.63%
Thereafter: BR+0.75%
current BR is 3.02%*

Is it considered as acceptable?