Hello, wanna ask, I have a joint mortgage loan with mrta.

If in the middle we got better offer from other bank and we would like to transfer then what will happen for the mrta part? Is the mrta tie with that particular bank LO or is the mrta totally separated (policy by insurance company) that we don't need to worry?

Hi sifu-sifu,

On year 2016 I bought an under-con condo, so sign the LO around March-2016. Since then the condo have some stop work issue on 2017 for 12-18 mths (due to deadly construction incident) so the construction delayed but still on-going until now, and still haven't reach my unit level (I bought level 4X, now they construct till level 2X), so I am still paying progressive interest now.

Until today, the PBB banker suddenly call me and ask me to sign the attached letter, saying I need to start paying the full installment amount because the construction period had been exceeded 36 mths!

Previously I already heard such thing from other owners as their bank loan LO did mention so (the exceed 36 mths thing and need to start paying full installment). But I checked my PBB LO there is no such clause, the only thing I haven't check is the loan agreement. Is it such clause (if exists) in loan agreement or S&P ?

By looking at the letter that the banker ask me to sign, it sounds so fishy as if I voluntarily wanted to start pay full amount for it. Definitely I not willing to do so, unless there is clearly stated in the LO or agreement.

Hi,
May i check on mortgage loan. I want to buy a 700k property (my first property) and plan to joint loan with my siblings. Would like to have a 90% or 80% loan amount.

We have a joint name company (car workshop). We both work for the workshop.
- no EPF
- have  pay taxes to LHDN
- have saving + FD (can increase if there's a need)
- have fix salary from workshop (sometimes vary on salary bank in date)

Is there a chances to success apply for loan? Any mortgage loan manager or expert here can advise. Thank you.

how much money involved if refinance?

kindly elaborate

oh, of course I'm saying assuming all other factors are constant

To whom should I pay the downpayment (10% of the house price) of the housing load? The lawyer who prepares Sales & Purchase agreement, or the bank which provides the housing loan to me?

Thank you for your advice.

Thank you for your respective replies, victorian, mini orchard and lifebalance.

I am sorry that my post was not clear. I am referring to a subsale house.

After paying the downpayment to the seller (the current owner of the subsale house), should I request a receipt, or some sort of document from the owner that acknowledge my payment of downpayment to the owner?

Merely relying on my online banking transfer receipt to the owner seems to be inadequate to be used for an acknowledgement of the payment.

Thank you once again.

Guys, let's say if I work in financial industry (insurance or bank), will I get the lower interest rate compared to other people?

Assuming other people have the same salary, age, gender, marital status, working job type etc like mine (except the industry that we worked).

The following interest rates are from loan offer that I receive, for a subsale property.

For the first year, interest rate is 2.87%.
From the second year till end of loan tenure, interest rate is 3.00%.
I wonder why the loan interest rate has 2 tiers.
Based on my limited understanding about housing loan, there is just one value of the loan interest rate applicable throughout the entire loan tenure, assuming that the Bank's Base Rate does not change.
Since interest rate of 2.87% is only applicable for only the first year, the effective loan interest rate is much closer to 3.00%, because one year (due to first year) is much shorter, as compared to the entire loan tenure.
Is there any reason why my housing loan has 2 tiers of interest rate?
Thank you for your information.

has anyone recently tried and gotten a construction loan from a bank before for construction of a house (personal dwelling) purpose?

tried to look around but seems like they only offer to govt servant?

-to build a house for own stay
-land (agriculture fully paid), 2 acre. possible to use the land as security to bank to get financing?

Agri land the bank will accept for refinancing? There is no building on the land. Asking because i asked another bank, but the person says they prefer refinancing of a building/house/shop

Developers would have a different financing compared to building one for own stay i guess. But when they buy agri land they also need to convert to residential title after paying  a premium though

Bump. Any sifus wana share opinion.

If developer fail to obtain the strata title, penalty on developer or buyer?

Hi all sifus, I have recently changed my job (from a bank to another bank) and I am planning to get a house.

PBB has approved my loan application (with 2.85% rate and 90% loan) but with one request: the need of a guarantor because I have just changed my job and confirmation will only come in 6 months' time (and by then I would have missed the HOC campaign.....)

If possible I do not want to get a guarantor as I know how sensitive this can get eventhough I am certain that I will not default on the loan.

Would like to know if there are other banks out there that are friendly to house buyers that just made a career change or are there any other ways to go around this guarantor requirement.

Thanks all

The banker in my current bank outright turned me down and say he is not confident that the bank will grant me a loan cause I am still new to the job

And ya I tried to apply as an ordinary customer as well

Hi just want to ask,

Ive already signing LO, but not signing s&p lagi, is there any charges or fees i need to pay? If i want to cancel it

Rhb islamic

hi . Dear sifu

i have a house , existing loan interest 3.27%
remaining house loan 350k
market value probable 1M

i was offered 3 option
1. use existing bank take top up loan , interest 3 % , otther cost : MRTA +legal fee stamp duty about 10k
2. move to a zero moving cost bank , rate 3.15 margin of financing 70%, no cost involved other than documentation.
3. total new loan refinancing rate 2.9% , margin of financing 70% but cost involved , stamp duty legal fee valuation fee about 13-14k

Cash out for business use

which one is the best , if debt to loan ratio no issue .
which one you will take ?

last question is it worth take islamic loan i heard the stamp duty is cheaper and legal fee is waived?

option 1 & 3 , i need to fork out money
option 2 , bank giving promotion , absorb all the fee., thus what ever cash that i cash out is net amount and no need to deduct the cost(legal + stamp duty + valuation )