One dont need to be a borrower to buy insurance to cover the loan.

Buy a life policy. When the insured pass away, the beneficiary can use the payout for any purpose including paying off tbe loan.

What are the reasons ?

Maybe they have past poor experience with the developer when title not issued.

Only during the lock-in period, that is 3 years from the final disbursement date.

Starting 4th year and thereafter, no early settlement fees.

This post has been edited by mini orchard: Sep 28 2022, 09:24 PM

If not mistaken, 35 years is from VP date or 3 years after SnP date whichever earlier.

If the property cannot vp as per SnP agreement date, meaning a delay, borrower have to start the monthly instalment payment.

Progressive interest payment is not included in the 35 years.

Did you applied for any moratorium during mco ? Depending on banks, some include the moratoriium in the monthly repayment now.

Best is to call the bank or visit the branch to clarify.

Depending on loan type....flexi, semi or conventional.

Best is check with your bank. All banks have different tnc for their loans.

Banks can grant higher % but if they value the property lower, the final sum is almost the same amount.

So either way, the bank wins.

80% of 1,000,000 = 800,000

90% of 900,000 = 810,000

Unless you can find a bank that can value it at 1,000,000 and 90%.

The property value overwrites eligibility. In the event of a foreclosure, how much the property can fetch in an auction matters to recover the outstanding loan.

Banks cannot force borrower to pay up but they can foreclose the property.

Borrower who purchased property above market price or bank valuation for whatever personal reasons should have the financial means to top-up the differential loan sum, including lower % loan eligibility.

Some borrowers think that they can mark-up the SNP price to borrow higher but that is only possible if the purchased price is way below market price or bank valuation., eg auction purchased.

One may qualify 90% for 1st and 2nd loan in paper but bank will assess their own risk b4 approving.

This post has been edited by mini orchard: Oct 14 2022, 06:28 AM

1. Land matters are under individual states. Approval, price and category for purchase are different in each state.Consult a registered property agent or lawyer from that state to seek further info.

2 I think is still around 70% but do check with the bank for confirmation

3. Legal fees for SnP, & Loan Agreement, Stamp Duties for both and Valuation fees are all applicable in a purchase of property. Estimate allocate 5% of purchase price.

Ask another mbb loan officer. Maybe that guy is new.

Use the calculator here ....

https://www.lowpartners.com/malaysia-law-fi...uty-calculator/

Is excluding disbursements and other cost if it involve additional work outside the snp or loan agreement.

Discount on fees only are at their discretion but dont squeeze them dry.

A good and experienced lawyer overwrites discounts if buyer wants the deal to proceed smoothly.

This post has been edited by mini orchard: Oct 21 2022, 07:40 AM

15k + is more realistic compare to some chap pa lang quote 50k.

Use this calculator. The result is about there from most banks for normal borrowers who are employees unless your case is 'special'.

What bank officers indicated may not necessary be the same as the offer letter after official application submission.

Avoid using agent if your case is normal. Banks have to pay him commission which is indirectly charge to borrower. Application is submitted to banks that pay higher commission.

Hear from different bank officers to understand borrowing tnc better as each operate differently.

Borrower himself can also apply from different banks b4 deciding and not necessary only through agent.

Agent 'mistake' in the application is ultimately borrower's mistake.

Lastly, if direct borrower cannot have his loan approved, what are the chances using the same documents through an agent ?

Anyway bank loan officer would also want to get approval for all his borrowers to meet his quota and year end bonus so your loan approval is also his benefit.

https://www.propertyguru.com.my/mortgage/ho...lity-calculator

This post has been edited by mini orchard: Oct 24 2022, 07:52 AM

I beileved your question is only about loan fees and post #19547 answered correctly.

Other fees are also applicable but the answer is not necessary, albeit is part of the subsale transaction.

Unless the post is reword.

SnP and Loan Agreement lawyers are not necessary the same person.

If same lawyer, a separate invoice will be issued.



This post has been edited by mini orchard: Oct 24 2022, 08:29 AM

4k nett ... 300k...monthly about 1 2k on current interest rate. No other loan.

Use the above as a guide or use this

https://www.propertyguru.com.my/mortgage/ho...lity-calculator

This post has been edited by mini orchard: Oct 25 2022, 07:32 PM

PBB at 3.55% .... monthly 3,446.

Ranking ....
1. PBB ..... 1,157,856 ... total loan payment assuming interest no change
2. CIMB ..... 1,186,260
3. MBB

If lower repayment for 1st 5 years is important, then ignore better interest rate or nego with cimb again
1. CIMB
2. PBB
3. MBB

Check with bank that the mrtt or mrta covers the entires 28 years and full loan amount. Secondly, if joint borrowers, is advisable for both to buy mrtt or mrta.

Buy from auction. Most prices oredi big discount. Then dont have to borrow much.

How much is the extra 10 to 20%, ?

If borrower risk factor is high, bank also wont give loan at all.

This post has been edited by mini orchard: Oct 29 2022, 12:28 PM

The other 2 properties, how many years have you paid the loan. What is the purchase price then and the estimate market value now ?

This post has been edited by mini orchard: Oct 29 2022, 12:35 PM

On the assumption that one of the property now is above 400k, refinance it and take the extra cash for the new property down payment. Try to max out for the 20% payment.

The bank will have to assess your risk and refinance will have cost to pay which you may include in the loan sum.

I dont see any other way than the above unless you want to approach financier outside the bank system such as legal credit leasing or insurance co with higher interest rates.

My first housing loan was with Metroplex Credit & Leasing.

This post has been edited by mini orchard: Oct 30 2022, 05:36 AM