Reducing the CLTA might impact the rate offered, no harm to try tho, since CCC is nearing might approach non-panel bank as they may take it as subsale case however the valuation could end much lower.
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
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Total loan amount: RM 1,054,270
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Loan tenure: 35 years
Interest rates: BR + 1.05%
Current Base rate: 2.00%
Effective lending rate: 3.05%
Monthly instalment: RM 4,087
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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?