Dear LYN forummer,

1st Sept I had paid a 3% booking fees around 15k to secure a house in Klang and I just submitted my loan request to bank last Thursday.

Previously I quite heavy debt in -  1 OD RM5k, 3 c.card total max up to 21K, 2 hired purchase ( 55k and 20k) and 2 Personal Loan in few K. Last I check July at CCRIS all appear and I do consult my banker, he would recommended me to clear as much as possible.

So I clear all my card, PL, OD and HP as well. At same time, i do cancel off my 1 card. However my record just update on 15th Sept(same day I submitted my loan). I submitted my loan after I check my CCRIS all debt clear, 2 of C.card shown 0(actually bank owe me instead as i overpay) and 1 HP for car(banker recommended me not to clear it even i prepared the money for it). All my PL, OD and debt was clear from CCRIS and I submitted my loan.

May I know will bank reject my application by trace back my old record(even I shown 0,0,0,0 in CCRIS old debt)? Reject due of my heavy debt even i clear it already? The estimate monthly repayment took roughly 30% my current salary
Short summary

1. Heavy debt before with 2 HP, 1 OD, 3 C.card, 2 PL
2. Clear all OD, 1 HP, 3 Card, 2PL ( left with HP for car as banker mentioned required some credit record) . All record was gone in my ccris. lets said previous is 8 record and now left 3.
3. Paid 3% booking fees last 2 weeks.
4. Submitted the loan to bank once checked CCRIS is clear. Estimate loan amount monthly took 30%-40% my current salary.

Question > Worry loan rejected as heavy debt before.

Depends on how long you intend to keep the loan further,

If the loan balance too small and want to refinance the same amount then cannot because minimum loan amount refinancing is 100k

Since you're refinancing and intend to put in back the money maybe can consider to take a higher amount if you got other usages like investment purpose

Dear,

It depends what's the amount of loan you are refinancing.

1. Remember that refinancing will incur

-legal loan
-legal spa
-valuation

Costs

2. On top of that, lock in period will be 3 years again, if it's a normal conventional loan.

3. If you wish to cash out >200k, you can fetch a good interest rate such as 4.4-4.5%, hence it will be a good deal for you to refinance and cash out

4. IF you just want to refinance your current loan balance, then it won't worth it...

Cheers

Hi all sifus,

Got a question about my housing loan. Since my house is still under master title and not individual title yet (after more than 10 years), there's still a remaining of 2.5% loan amount which the developer hasn't claim from my bank loan yet.

And after paying the loans all this while, it's only a few more months before I will fully pay up the 97.5% of the drawn amount.

So now my question is when I have fully paid up my 97.5% of loan amount, what will happen next? Without the 2.5% being drawn by the developer, will the bank close my loan account? And if they do, does it means that the developer will claim the final 2.5% directly from me in the future when the MOT is done?

Or there could be other scenarios on this?

Appreciate your advices.

Thanks in advance.

Semi flexi loan u got to transfer it to your loan account to reduce on principle amount and incur lesser interest.

Depending on the amount you put into the account, the amount you save for the 5 days is not much.

It's advisable to put it in as early as possible since the calculation is on daily rest (365 days).

Yes, it will affect the interest calculation.

Hello,

Just a quick query, I want to purchase MLTA separately via insurance agent instead bank. Can I do that ?

Reason being bank wants to finance this MLTA into house loan. This policy will tied to bank instead of house owner. There’s no flexibility if I wish to surrender this policy earlier since it’s tied to bank. Kindly correct me if my understanding is wrong. Thanks.

Hi, I have some questions on my home loan which I hope some1 can help to make me to understand them.
please see image below.


My loan amount is 484861. I started to serve my loan interest in Apr 2017, and I deposited 50k into my loan acc in Jun 2017 to reduce my principal in order to cut my reduce my interest.
Image above is the latest loan condition. I wonder what are the meaning for the amount shown in the 4 red boxes. can any1 explain to me?
Secondly, the “available redraw limit” is 0 now, does it mean I cant withdraw my previously deposited 50k aymore?
Thank you.

Hi everyone,

let’s say I am looking to purchase a residential house.

Selling price: RM698,000
Rebate: RM30,000
Hence, discounted price is : RM668,000

My cash on hand is only RM15,000.

In this scenario, what are the options available for me to purchase ? I know that I can

1) withdrawal of EPF 2nd account (based on 20% of discounted price)
2) borrow from Ah long, family or friends.

Any other smart options to do? Let’s discuss

Hi can someone help me with this. I was looking for a good mortgage, but there is much choice nowadays. So I checked out this website https://loanstreet.com.my/home-loan. It helped me a lot because it had a nice compare tool and calculation tools. But my question was if you would recommend me the top 3 banks for a mortgage, what should it be. Because  I don't really trust normal review website haha.

Thanks for helping

Where is here?

Say I have RM4,000 net per month. Zero commitments for now.

Assuming I meet all the other requirements, how much loan can I get? Is it true at 33% of net salary? Or can I get up to 70% of net salary?

Thanks!

Hi guys. Need some advice. Currently Im working two job fulltime.
- First one is midnight job (12AM-8AM)
  Already work for 3+ years.
  Salary around 2.6k

- Second is day job (Flexible Hours)
  Next month is my 6th month.
  Salary around 4k.

Anyone got experience applying mortgage loan in this kind of situation. Do bank take both income into consideration or just take one (the highest pay).

Thank you.
*Will ask bank for clarification, just need to get some extra information before going to bank.

Hi Guys,

Recently I am cancelling a signed loan agreement. After that the banker has sent me a cancellation document with her signature with CIMB letter head.

My new loan banker mentions that this cannot be used to show that the loan agreement has been canceled and I must get from the bank directly instead. When I check with CIMB banker, she mentioned there's no such letter can be issued from the bank.

Now, my CCRIS record has this canceled loan and needs months to be updated where my new loan is kicking in and most lightly will be rejected in that case.

My question is, anyone here work in CIMB mortgage department and have such a request before? How can I proceed here to show to another banker that my loan has been canceled whilst awaiting CCRIS record to be updated?

Hai, i am new here and first time buying properties, Zero experiences.
I got 3 loan approved from 3 different bank.
Bank A : offer BRI 1.75% + 1.35% p.a (effective profit rate =3.1%)
Bank B : offer BRI 2.63% + 0.37% p.a( epr = 3.0%)
Bank C: offer BRI 2.5% + 0.7% p.a (EPR = 3.2%)

Which one offer the best loan offer?  I did some reading that BLR will change in the future depend on BNM , Therefore should i choose the bank based on the lowest BLR offered (bank A), OR shold go for bank B (offered lowest Interest rate, 3.0)???

oh thanks you, adoi i dont know how to change the forum to this group...if failed, i will delete and repost...hope no warning from admin,

I notice there is in Malaysia most loans are variable and rarely got any offers on fixed interest rate?
You guys tak takut for hyper inflation or deflation kinda scenario ke?

I am aware of pro and con in terms of payments but in terms of safety fixed definitely safer but my question is are you very sure that the world wont experience hyper inflation or deflation?