With all these OPR rate cuts and BR revised. What is the recommend BR range that new loan should try to aim for?

Hello mortage sifus,

What the max loan possible for following scenario:

Net: MYR 8200
Performance bonus: MYR 25200

Existing housing loan: MYR 3928
Existing car loan: MYR 1525
Existing personal loan: MYR 831

Fully paid condo MV: MYR 600K

Intend to refinance the condo to settle car & personal loan as housing loan currently paying progressive interest-schedule completion late 1Q2021

Thanks in advance

I need your kind advice.  After we have made the final payment to settle our housing loan, the bank will return us all the documents and ask us to go see /appoint our lawyer. May I know what is the purpose of appointing a lawyer? Is it to discharge? What exactly does the lawyer need to do to discharge the property?

How fast the bank will adjust the rate following OPR reduction announcement yesterday?

This morning the banker told me my loan has been approved with rate of 3.55%

hi guys,

my is mbb semi flexi
recently BNM just revise the ORP
but haven't see banks update
update the new BLR rate yet?
My loand still see 3.75% profit rate showing .

any way to take advantage of low interest currently?
Other than refinance cost.

if making advance payment will help a lot?

Can speakin to the branch help to reduce the interest further more?
any valid point can share
Thx

Hi All sifu,

My loan just approve today from PBB and they offer 3.65%
The officer mention BR is 3.02 + 0.63 and when next week PBB announce the reduction it will be done to 3.15%

Is this a good deal ? He explain that the spread rate is lower from PBB compare to others bank and PBB had maintain BR at 3.02 for quite sometime.

hi senpais,

As the OPR is reduced again, I don't know whether is it a good or bad impact on my current loan offer.

I got my loan approved from AmBank before the OPR is dropped to 2.00%,
it was 3.80% (BR 3.35 + 0.45) + 10Y MRTA on an RM 510k loan amount. 
(edit: I tried Maybank, what I got was 3.9%)

With the recent cut in OPR, may I know if this is a good/bad impact to my current offer?

Thanks! 

Recently got loan approved at a good rate (spread .27).
Applied 15k for 33 years MRTA on this loan to get that rate, funded into the loan, as advised by the officer. By default, MRTA not compulsory.

Insurance provider requested us to do medical check up and if I didn't revert before 90 days, the application is not considered taken up.

My question is:
What is the consequence if medical check-up failed? The 15k loan cancelled and we will pay lower monthly installment? Or still pay the same?

can bank lock in the interest rate?

My friend who's working at MBB as relationship manager said the rate is okay
but I don't know because I'm not in the finance industry and this is my first housing loan. 
umm.. I wouldn't use the word "too high".. it's just simple maths.

You're right on the rate will go up when the OPR back to the average of around 3.00 to 3.25 based on the OPR history in the previous 5 years.
Let's assume if someone secured his/her loan at 4.15% last year when the OPR was 3.00,
so if the OPR is back to 3.25, mine would probably be 4.55% and his/her would be 4.40%.

At the end of the day, the 0.15% is only RM20k difference based on my loan amount over the loan terms of 35years.
And that is the case of assuming the interest rate of the loan is fixed at 4.55 & 4.40 since the beginning,
hence the difference could be lesser or more but yea, the difference is not giving me the impression of "tooooo high". 

Back to what I really concern, is the recent OPR cut good or bad for the current loan offer I got? 

Hi, any OCBC representatives here? I don't fully understand my loan statement. OCBC says to opt out deferment, just continue to pay as usual. I did, and for April's interest, I was charged a full amount of my monthly repayment.

Monthly repayment RM2590.
Profit billed RM2590.

On the 1st of May, RM2590 goes to profit, 0 goes to principle

Whats best residential and commercial refinancing option now?

Normally the loan can still go through even MRTA fails. Your installment will be revised and you will need to sign another supplementary LO
As long as you haven’t sign the letter offer, the bank has the right to revise their interest rate offered to you. So I don’t know what you’re waiting for.
It really doesn’t matter as the rate will fluctuates overtime, whether it’s good or not depends on why are you buying this property in the first place and not about the interest rate.
Best to show your bank statement here as I can’t diagnose
What’s ur loan amount and tenure

With all these OPR rate cuts and BR revised. What is the recommend BR range that new loan should try to aim for?

Looking at few millions

3.2%

Anyone can advise if now is a right time (based on low rates) to settle mortgage loan (around 300k left)? I just need to go to the bank and ask them the exact amount that need to be paid right?

Is this a good time to start my loan payment now? I have a house loan which is underconstruction.

Anyone can advise if now is a right time (based on low rates) to settle mortgage loan (around 300k left)? I just need to go to the bank and ask them the exact amount that need to be paid right?

Is this a good time to start my loan payment now? I have a house loan which is underconstruction.

Is this a good time to start my loan payment now? I have a house loan which is underconstruction.

Has bank disburse partial loan sum to developer if yes then they will already charge progressive interest which is payable unless you have opt for moratorium, non repayment when due will impact your CCRIS record which will be bad in long run

Yes I am paying progressive interest now. Thinking if I want to start my installment earlier.

Yes if financially you are good as ultimately will reduce the loan sum, how long to go till the project completion? Btw for Term Loan any additional payment will be treat as advance and will not reduce the interest if not wrong

I am looking to buy a subsale condo unit near my son's school. The question I have is I am not working, my expense are all from my inheritance that I put in investment and FD.
Will I still be able to secure a mortgage loan? I can put more than half the amount for downpayment. is it true u cannot get a loan if u are not working or have income.?