Just sharing, I have just signed a LO with PBB, locked in period 3 months and semi-flexi, they allowed me to reduce mrta tenure and new mrta tenure has stated in the LO haha, so i sign up the credit card with the banker as a token of appreciation (initially want to reject the new credit card application that has offered)

Hello, need an opinion 🙏🏼

We were waiting in a list for a unit, and apparently only affin bank came back to us with below package (managed to secure the unit because our loan was approved first?)

Current approval:

Islamic financing
Financing: 1,053,054
Mrtt premium: 58,594
Profit rate: 3.15%

It’s a bit on the higher side isn’t? But from what i gathered from maybank last time, we might only get 70% of the loan.

According to agent, public bank affin and maybank get the lowest rate. Not sure to just accept this package or if we actually have options to choose others.

Hi, wanted to ask whether this is a good deal for the current market

Current approval for my 2nd property:

Conventional loan - HLB
List price: 1,610,800
Financing: 1,407,839
MOF 87.4%
Tenure 35 years
BR 2.88% + SR 0.17%
ELR 3.05% without MRTA

Questions
1. Is this a good deal?
2. Shall i try for other financier of the project like PBB, Ambank, Alliance, HSBC

Hi, guys i need opinion on the 2 loan offered by diff bank.

Option 1 : step up loan (semi flexi)
- 90% + min insurance 3.6k MLTA
- RM794,520
- 35years
- rate 3.15%
- Monthly instalment
First 5 years rm2812 per month
Thereafter rm3211 per month
- rm3.6k pay separately
- one time processing fee rm200

3.6k  cover 1st year value RM700k, if next year wan renew need to pay another 3.6k, cash back RM1200 annually

Option 2 : full flexi with Minimum MRTA
Margin: 90%(794,520.00 )
Clta: sum assured 500k, 15years (16, 140)
Total loan amount: 810,660
Rate: 3.1
Tenure: 35 years
Installment: 3165

Purpose : own stay for 5 years then rent/sell out (investment) have to wait for township to mature.

Isn't the mlta will be more pricey? Which means every year gotta pay 3.6k and does the interest with 0.05% more will contribute to more interest charge?

Next. Does semi flexi matter in this case as there will be charges and take time to withdraw money etc as option 2 will be full flexi?  Btw I'm an employee.

Hi guys, if the new property that i wish to purchase only has 1-2 panel banks, and I want to try other (non panel banks), do I really have to wait for the CCC to be obtained first?

Hi guys, here's the situation.

I received the offer below from Maybank.

SPA price: RM 1,436,150
Loan amount: RM 1,005,305 (70%)
CLTA: RM 48,965
————————————————
Total loan amount: RM 1,054,270
————————————————

Loan tenure: 35 years

Interest rates: BR + 1.05%
Current Base rate: 2.00%
Effective lending rate: 3.05%

Monthly instalment: RM 4,087

_________________________________

CLTA seems to be high. I was thinking of getting a life insurance instead and justify to bank.

If i decide to do so, will I still get the allocated CLTA amount as cashback?

Also, I might consider getting a higher margin loan from PBB/CIMB, but these are non panel banks since the property is only due obtaining CCC in September. Do i really need to wait till CCC is obtained?

Hi all, got offer from Alliance while 1 offer only 70% and 1 rejected.

Islamic financing for 2nd house
spa price : RM1,154,888.00
Loan : RM1,039,399 (90.00%)
MRTT: RM34,608.00 cover 700k for 25years
Tenure: 32years
Rate: 3.10% (after appeal)
Instalment: RM4413

OK deal? What should i ask before sign the agreement? Any1 else got experience with Alliance? Thx

Hi sifus,

I am considering whether to take LPPSA loan or bank loan to finance my 1st property (not a PR1MA or PPAM house). The options are as below:

LPPSA

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 17,645 (including LHTO)
Interest Rate : 4% (Fixed for the entire tenure)
Monthly Instalment : RM2,205
No restrictions on advance payment

Bank (Semi-Flexi)

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 10,131 (MRTA 100% for the entire tenure)
Interest Rate : 3.05% (BR + 0.17%)
Monthly Instalment : RM1,956
Interest saved on advance payment up to 30% of outstanding balance

Any advice on which loan is more suitable for me at the moment? I am buying for own stay and currently have no plan to purchase a 2nd property in the near future.

Thanks.

Bank's interest rate is currently lower compared to LPPSA's fixed 4%.

However in the long run (25 years tenure), would the floating rate offered by banks be sort of a disadvantage compared to fixed rate should the OPR increases beyond 4%?

Hi all, appreciate any info. Is it more worth to get a 1mil life insurance or mrta ? I've been offered around 36k mrta for a loan amount of 750k

Hi Guys, 

Loan amount: RM 514,800 
Loan Tenure: 35 years
Zero Lock In Period
Effective Rate: 3.05%
Fully Flexi Loan, MRTA not compulsory
Monthly Financing Commitment: < RM 900 (Amount before divide by 2, was joint applicant for current house).
Monthly Fixed Income before deduct EPF and taxes ~ 10k

Is this a good deal for my profile?

Hi All Sifu,

First home buyer here, just get Affin Bank loan approved

Approved amount : RM377,910
MRTA: RM9,590 (cover RM360k for 22years)
Total approved amount: RM387,500
Tenure: 35 years
Rate: 3.45%

Is it ok that the insurance years of coverage is not same as the loan tenure?
And the amount insured is less than the home loan. Is there any problem?

Thanks for all advise.

Another loan offer from MBB
MRTT insurance cover for 35years (included construction period 4 years), sum insured RM 393,104.

*Loan amount RM 377,910
*MRTT insurance premium RM 15,194(premium added into loan)
*Total loan amount RM 393,104
*Loan Tenure 35years
*Interest rate 3.10%

compare to Affin bank, this one good to go?

Another loan offer from PBB as below:

Public Bank
Loan amount: RM 623,880
MRTA： RM 623,880

Total Loan: RM 647,467

Interest rate: 3.05%
Loan tenure: 35 years
Monthly Installment ：RM RM2,510

If compare to previous options, public bank offer is better?

Is it a good idea to have a shorter MRTA tenure? 17 years instead of 30 years? I feel like I don't know what I don't know when it comes to the pros and cons.

I have an existing RHB MY1 Full Flexi loan and used to be able to withdraw the excess I paid for the principal using their online banking, but the option seems to be gone (not sure if it's just me or the same for everyone) after they revamp the online banking design, can RHB does that? Removing the option to made withdrawal online after a couple years a customer servicing the loan?

Hi guys,

Just wondering if the rate below is okay?

Rate: 3.55%
Tenure: 35 years
Amount: 280k

Any method to negotiate for lower rate?
Or it is dependent on the records such as ccris / ctos / epf .. etc?

Hey sifus, wanna check if the rate I’ve received is competitive? Any banker here can offer lower rates?

Bank: MBB
Approved Amount : RM619k
Rate: 3.55%
MOF: 90%
Loan tenure: 35 YEARS

I checked with OCBC and it states that they do not have end financing for the project. Isn’t that weird. The property agent said the project is completed so basically can submit to all banks.