Ahh that’s a big relief to hear that. Btw it’s elmina unit by sime darby.

Principle will always move, it is calculated as per your installment, this is why it is called a term loan. It has a tenure, and the installment paid will reduce the principle within the stipulated tenure as long as there are no changes to the interest rates (of which the banks would ask you to increase your installment anyway). There is no such thing as "principle don't move", you are not taking an overdraft housing loan, are you?

The reason it is important to think about this is because there are people who can earn more than the mortgage interest rate. I am not asking you to do anything dude, whatever you want to do is up to you. but it is important to know all the options in hand before making a decision. And I'm not just some guy, I teach people these things on a daily basis, mortgages is what I do for a living; it should help to listen to my opinions as many already have
For most housing loan, the installment is fixed, but the interest calculated will be reduced, I've already shown the example above if still don't understand then it is not on me 

For the benefit of others:

You do not need to make a huge lump sum. Some banks will take all the advanced payment to reduce the principle and thus reduce the interest payable. Different banks have different acceptance of this though. Some would not consider advanced payments to reduce the principle.

Bank Negara lowers OPR by 25bps to 3%
BANKING
Tuesday, 7 May 2019

3:00 PM MYT

KUALA LUMPUR: The Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) to 3% at its meeting on Tuesday.

It said the ceiling and floor rates of the corridor for the OPR are correspondingly reduced to 3.25% and 2.75% respectively.

It said the baseline projection is for the Malaysian economy to grow within the projected range of 4.3% - 4.8%.

“However, there are downside risks to growth from heightened uncertainties in the global and domestic environment, trade tensions and extended weakness in commodity-related sectors,” it said.

Bank Negara said while domestic monetary and financial conditions remain supportive of economic growth, there are some signs of tightening of financial conditions.

“The adjustment to the OPR is therefore intended to preserve the degree of monetary accommodativeness.

“This is consistent with the monetary policy stance of supporting a steady growth path amid price stability. The MPC will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation,” it said.

On the global economy, it said it continues to expand moderately. While growth outcomes for several major economies were better than expected during the first quarter, underlying economic conditions continue to suggest moderation going forward.

Considerable downside risks to global growth remain, stemming from unresolved trade tensions and prolonged country-specific weaknesses in the major economies, further dampening global trade and investment activities.

Although the tightening in global financial conditions has eased somewhat, heightened policy uncertainties could lead to sharp financial market adjustments, further weighing on the overall outlook.

“For Malaysia, latest developments point towards moderate economic activity in the first quarter of 2019.

“Looking ahead, slowing global demand conditions and subdued growth of key trading partners will continue to weigh on the external sector,” it said.

Bank Negara said domestically, stable labour market conditions and capacity expansion in key sectors will continue to drive household and capital spending.

Headline inflation increased to 0.2% in March 2019 (February: -0.4%), due mainly to the less negative transport inflation at -3.0% (February: -6.8%).

Underlying inflation, as measured by core inflation remained stable at 1.6% in March 2019.

(Core inflation is computed by excluding price-volatile and price-administered items. It also excludes the estimated direct impact of consumption tax policy changes.)

In the immediate term, inflation is expected to remain low mainly due to policy measures..

These include the price ceiling on domestic retail fuel prices until mid-2019 and the impact of the changes in consumption tax policy on headline inflation.

For 2019 as a whole, average headline inflation is expected to be broadly stable compared to 2018. The trajectory of headline inflation will continue to be dependent on global oil prices.

Underlying inflation is expected to remain stable, supported by the continued expansion in economic activity and in the absence of strong demand pressures.

The domestic financial markets have remained resilient, despite periods of volatility primarily due to global developments, it said.

Read more at https://www.thestar.com.my/business/busines...EvfziLyV6uoi.99

Is the mortgage consider secured when you signed LO and loan agreement?
What is the next steps?

Sorry didn't mention that I buy directly from developer.
So I guess I just wait lawyer to advise bank release progressive payment to developer. I'm scare I being charged interest on late payment by developer.

Hi,

I managed to get below 2 best rates for 90% loan:-
Which one is better?

PBB = 4.15 .3.52 + 0.63 (MRTA 9587 - 25 yrs)
MBB =4.2.  3.0 + 1.2 (MRTA 3389 - 10 years)
Cons for PBB is customer service wise not as convinient as MBB and once default penalty is pricier.
However, lower spread is better in the long run as BR is variable.
The project i am purchasing has zero deposit.. is it wiser to not take the 90% loan or just take the 90% loan and dump the deposit amount in as advanced payment?

If i opt to not take 90% loan my interest will be lower over the 35 years tenure
If i opt to take 90% and dump in the deposit as advanced payment...i only reduce the tenure but not the interest monthly?

the lower loan amount(85%) will incur lesser monthly installment whereas if i take a higher loan amount(90%) monthly installment higher. If i put the extra cash i have as advance payment it will only reduce the tenure(years).

Can I conclude taking a 85% loan is better?
Sounds absurd to me as people always want to get a 90% loan.

Hi fellow sifu, currently am looking my first property.
Already consult the banker to process my loan, so here are the 2 option that I have and I am not sure which one is better.

MBB
Property price 385,000
MRTA 8463 25 years
Downpayment 10%
Interest BR 3% + SR 1.22% TOTAL 4.22%
Monthly installment 1619 for 35 years

Hong Leong
Property price 385,000
MRTA 6266 25 years
Downpayment 10.2%
Interest BR 3.88% + SR 0.37% TOTAL 4.25%
Monthly installment 1655 for 33 years

Pros of MBB is the advance payment I can pump 100% whereas Hong Leong only allowed me to pump 30% of outstanding balance.
Would like to ask is the 30% capping making much difference if in the future I have a hugh sum money and pump all in to principal to save interest?

Please enlighten me thanks

updated with the hong leong policy. which means i can pump all 100% but only 30% can be withdrawn.

are they the same?

I was told that let say today my loan is 350000, the max i can put in is 105,000 which is 30%
So today if i have 150,000 cash in hand, i need to put 70k into the principal first which cannot be withdrawn, so my outstanding become 280k (350k-70k), my balance in hand is 80k (150k-70k)
based on the outstanding 280k, 30% of that amount which is 84k is allowed to put in advance payment, but only 80k can save interest as they only count 10k unit...

Not sure why their policy works like this. Is it worth ?

I see. Not sure how MBB works but let alone it able me to dump in any amount that I want is enough for me to take them right? Comparing to HLB.
Anyway whats the difference between Islamic and conventional MBB policy? I was handed 2 policy which are islamic and conventional.
The only pros that i can see for islamic is that they have the cap rate of 10.x% if the interest rate are more than 10% if the times are bad.
Not sure what is that though. 
Edit：sorry they din count 10k unit. any amount that is left is counted to waive the interest.

1.3m

thanks bro
but PBB semi flexi rm50 per withdrawal, can withdraw once a month only plus need to apply few days in advance

MBB rm25 per withdrawal, no limitation

I’m thinking if RHB is a better option?

Hi guys, need some input for housing loan amount 475K for 35 years loan tenure, which options will be better

1. MBB, 4.2% interest rate (semi flexi) - MRTA 12K for 30 years
2. RHB, 4.2% interest rate (full flexi) - MRTA 18K for 30 years

Given the same rate, which loan package better? Wondering is this the lowest possible rate as agents told me the rate is lowest. Thanks.

Hi
First home purchase
Property price : 619k
Loan amount :557k 35 years
Pbb : 4.15% (Plus mrta 15 years RM5502.63 + critical illness 15 years RM4000)
Critical illness sum insured RM100k coverage on earlier stage of confirmed 36 critical illness

Any advise/recommend for mrta and crtical illness premium?

Not understand for HOC 2019
cover legal fees?

Hi, do Maybank have full flexi option? Without withdraw charge

Anyone heard about the loan margin has been slashed by bank due to the cash rebate by developer?

For example: If developer give 7% rebate, bank only allow the buyer max 83% loan instead of 90% loan.

Hi guys,
Currently am looking for my first property and I have
2 loan offers and will like your opinion on the loan which one is better.

MBB
Property price 370,000
Interest BR 3% + SR 1.3% TOTAL 4.3%
MRTA 11448 20years
Downpayment 10%
Monthly installment 1730 for 30years
Flexi - rm25 withdrawal fee and capping of 99.99%

Hong Leong Bank
Property price 370,000
Interest BR 3.88% + SR 0.32% TOTAL 4.2%
MRTA 8853 18years
Downpayment 10%
Monthly installment 1777 for 28years
Semi-Flexi - rm50 withdrawal fee and capping of 30%

Thanks.