hey guys sry for asking this question here.. didnt really get a solid answer from property Q&A

so it's like this.. i'm a serani/eurasian and I would like to buy my first house probably next year and i'll like to know if im eligible for bumi discount? not bumi lot.. just bumi discount.

I have ASB acc but that doesn't prove that serani/eurasian is bumi because from what i've
check ASB is specially granted by prime minister or some sort

Also when I open company with SSM its written there SERANI BUMIPUTERA even though I only ticked lain-lain but i'm still not convinced.

So any idea guys? is serani/eurasian considered bumi and can I purchase property with discount? Your help is much appreciated. Thanks

Thank you. These days hard to get approval for loans according to the loan agent. They chase me like crazy.

1. Was thinking of applying to Ambank. If only 4.4% no point I think. Haha.

2. BSN offered me 4.7% ZMC and 4.55% NZMC. Hopefully RHB can offer me 4.4%.

Hi, can gv me formula of dsr?
What bank take rental as 100percent income?

Evan, other than income derivation, will the bank also take into account things such as gold deposit account, mutual funds, shares and epf as assets and take them into consideration for my housing loan?

Hi, any ambank banker or anyone familiar with ambank procedures can assist?

Signed LO with ambank and preparing snp now, and the ambank branch banker keep on told me the same snp lawyer cant handle my ambank loan dpcument. Told me new policy spa lawyer cannot handle loan. Which i think is merely a funny reason from them. The firm handle my snp all the while got handle ambank loan and their office name is in ambank system.

Now the branch office dont want issue the Letter of Instruction to my spa lawyer... anyway or department for me to complaint too? Trued to speak to them in nice way but seems like they dont bother.

Dont we have our right to choose own lawyer??!!

hi my father is almost 60 , we are currently planning to sell our current property and move out . assuming if he still wants to grab a loan , how much most likely will the bank allow ? he doesn't have a lot of epf . My brother is running his own Chinese physician business and wishing to pursue another loan for his own property , can he be any good to our loan ? and im 21 , but I'm just finishing my degree , still had another year of CLP to pursue , can I do any good to our loan ?

Evan, other than income derivation, will the bank also take into account things such as gold deposit account, mutual funds, shares and epf as assets and take them into consideration for my housing loan?

Maybe I should have asked this here instead sorry.

https://forum.lowyat.net/index.php?act=ST&f=153&t=3766339

Pros and cons of taking 80% vs. 90% loan? How much more estimated progressive interest I have to pay if I take 90% loan for a SPA price of RM850k.

Yea, its subsale case. My spa lawyer is in thier ambank system as ad hoc panel. Just that the branch banker dont want to issue the LI to my spa lawyer even i insisted. This is really so unprofessional. Will definitely complaint to thier hq. Just hope anyone here able to guide which department and who shall i complaint to is the most effective way...

hi ! i happen to have a confusing situation for DSR calculation. I'm trying to figure out max loan eligibility for me and my siblings to go ahead with property investment project from a capital we inherited. To make explanation easier, let me put it in numbers.

A) Gross: 5k

DEDUCTIONS
B) EPF/SOCSO etc: 700  (+TAX Should be RM777)
C) Deduction for savings (ASB, Tabung Haji, Koperasi etc): 250
D) Biro Angkasa (for bank loans, Bank Rakyat, BSN etc): 300
E) Biro Angkasa (for non-bank loans i.e: Govt,MBSB, Koperasi etc): 400

OTHER COMMITMENTS
F) HP: 500
(HP is not counted)
Question no 1
How does banks treat deductions for savings ( C )
(Bank don't consider this)
Question no 2
How does bank treat loans paid through Biro Angkasa deductions? For case D and case E.
I know that E also appears in CCRIS report, but not too sure regarding case D. Let's assume it's not in CCRIS.
- Is deduction by Biro Angkasa for both cases calculated as commitment outside payslip or included in the calculation for nett income?
(If it is a loan and it shows somewhere in your payslips deduction, it will be considered as a debt. If it doesn't show at payslips, bank usually couldn't deduct such non bank loan commitment except declaring upfront)
Question no 3
How do i calculate DSR from here?

If i take nett income as nett income stated in the payslip = A - B - C - D - E = 3,350
DSR would be 14.9%

But if i take nett income as A-B = 4,300 and commitment as C+D+E+F=1,450
DSR would be 33.7%

And depending on the answer for question no 1 and 2, the DSR would differ again 

Hi Madgeniusfigo , the numbers i give isn't actual numbers, just for easy calculation to look at where those commitments stands theoretically.

Did you misunderstood my numbers since you did not take all deductions into account at all? And i dont see why  HP/car loan is not counted 

Looking at my example as above, nett income would be 3,350 in the payslip whereby $300 (deduction D) is bank loan, and $400 (deduction E) is non bank loan.

The analysis is easier to do if I know how banks calculate nett income from this. This is why i pening. I'm sorry but your analysis has not answered the confusion yet.

I'm stuck at calculating nett income 

Gross: 5k
Statutory & savings deductions: 950
Loans deduction (Biro Angkasa): 700
Nett income according to payslip : 3,350

Let's say HP/car loan commitment is $500

If Biro Angkasa deduction is considered as debt, then commitment would be $500+$700: $1,200
And to include this $1,200 in DSR % is wrong, since we end up calculating it twice since it is already deducted from payslip.
So the $700 must be calculated once only,  either in the payslip or in the DSR %.
- Deducted from payslip : Take Nett income in payslip $3,350, Debt HP $500, DSR - 14.9%
- Calculated in DSR: Nett income (Gross minus statutory/savings deductions only) $4,050,  Debt (Biro Angkasa $700) & HP ($500), DSR - 29.6%

Which one? Almost 15% difference is huge.

Why I'm asking? I am well aware that the DSR is below 70%, but at how many % exactly?
That way, with the estimate of how much loan is possible, and then we work backwards with the capital we have for downpayment to decide property value to purchase. The intention was to maximize property value from both the capital in hand and DSR on the pay slip & current commitments. My only confusion is the above, on the payslip.

For example, if currect DSR suggests that only $350k loan can be obtained, then we put $150k downpayment for a $500k house. Something like that for a plan is feasible, right?

Thanks alot for your assist. My SPA firm did show me their latest case with the Letter of Instruction from Ambank. So they are very sure there is no issue with Ambank.
Just that the banker do not want to issue the said Letter to them. Again thanks for your assist.

I heard  that the base rate will drop soon for R bank.      Is that true?

i having 2 shop lot in bank loan. both in commercial title, not residential.
how many percent loan of margin can i borrow for 3rd residential, condo?
what bank offering in 90%, 80% or 70% loan of margin ?
please advise

Hi i'm malaysian working in spore. Wish to buy a property in KL. My basic pay is SGD13,000 per month after Deducting CPF is SGD10,400. So Banks will convert 1 : 1 or times 3 my salary? Anyone knows?

Need some advice from shifus' here:
My friend's father intend to sell off his properties and he wanted to purchase 1 of his father's property.

Is that recommended for him to ownership transfer the property to his name 1st & then to do a full refinance on the property to cash out?
OR To do S&P and perform a bank loan+cash out to repay his father?
Which is the best and cost saving method for him to own the property with 35yrs loan?

Hi,

Need some help from sifu sifu sekalian in calculating my max loan eligibility. My details below

Gross Pay : RM 7,200
Net Pay    : RM 5,850
Contractual Bonus : 1 month

Current Commitment
Car Loan : RM921
Credit Card Outstanding : RM 1,600

1. What is my max loan eligibility?

2. What supporting documents do i need to provide to the bank for this 1 month bonus?

3. How does the bank factor in the bonus into the DSR? I've only been working for my current company for 1.5 years so i only have one EA form which is from last year.

Appreciate the help and advise 

Thanks

Hi Madgeniusfigo,

Thanks for the quick reply, Please find my reply below in blue.

Hello Madgeniusfigo,

Thanks for your reply.
Yes, you are right. my friend wanted to purchase his father's property.

Do you mean if the property is encumbered, he is only waived 50% on "Stamp duty chargeable on SPA RM10/ copy" OR 50% on "Stamp duty charge for Memorandum Of Transfer-Follow tiers" ?

50% Waived on the stampduty charge for Memorandum of Transfer, he will still need to pay for the rest of the entry cost (SPA legal, Loan Stamp  duty and Loan legal fees)

On unencumbered property, if he does transfer straight with lawyer, basically what are the fees involved that he needs to pay? And what are the bank/mortgage package available that he can secure for a 35yrs loan to repay his father?

If the property is unencumebered means the property has paid off all the mortgage loan outstanding, hence he owes nothing with the bank. Hence, transferring ownership will require the party to pay (SPA legal fees + SPA stamp duty) for the SPA ownership transfer fees.

If you say securing 35 years, I guess you mean trying to cash out/top up to withdraw money from the property itself. There is 3 package in the market right now Full flexi, semi flexi and fixed rate. Each package will allowed you to secure the financing, 35 years depends on your friends age, if his age is less than 36 Y.O, he will be able to secure 35 year loan tenure.

CODE

Full flexi:

1) current account tied to loan account
2) auto debit from current account at month end and interest is calculated based on outstanding balance minus amount in current account
3) maintenance charge of RM10 per month
4) setup/ processing fee of Rm200
5)The liquidity comes in the form of an ATM card or a linked CASA account to the housing loan. 
Example: You have a shop that is opened Monday to Satuday, rest on Sunday. On Saturday, you deposit all your proceeds of the week into the flexi account, on Sunday, you would save [(your-HL-interest-rate)/365]*AmountDeposited worth of interest. On Monday, you withdraw the money to run your business
6) Withdrawal of money or crediting of money through ATM,CHEQUE,OVER THE COUNTER, or online

Semi Flexi

semi flexi package typically has these features:
1) requires you to phone in to indicate the extra payment as early settlement of advance payments
2) if you fail to indicate, you will be charged 1% (some banks do this afaik)
3) if you indicate advance payment, no additional interest is saved as "advance" payment will only be credited to your loan account when it reaches your cycle date, so it is plain advance payments. and must be in multiple of your monthly payment.
4) For redrawable prepayments, you need to indicate separately and Redraw charge of RM50 is imposed (M*B charge Rm25)
5) Withdrawal of money or crediting of money through Cheque or Over the counter

Fixed rate

1) Rate will maintain throughout the loan tenure.

Hi Sifu,

Need some advise here:

My mortgage loan of RM300k with HLB is about 2yr old now, and will soon be fully disbursed.

The loan rate is BLR - 2.4%, which make it 4.45% based on the current BLR of 6.85%. However, I notice that the current market rate loan is fluctuating at around 6.3%-6.4%.

So, my questions are:
1. Is there any way to reduce my loan rate without incurring any charges?
2. And, can I extend my loan term from the remaining 28yrs+ to 35 years, without incurring any charges? I'm 26 yrs old btw.