Likelihood banks are still going through the updates give it another week or so

Refinance will be part of mortgage still and not personal loan however

Easier in a sense bank already financing yr property so all they need to do is perform valuation and offer u the top up sum. U might want to approach other bank for refinancing and compare which one make more sense

Preloan eligibility check

Income
Net: MYR 8240
Bonus 2020: MYR 11758
Rental (commence JUL2020): MYR 2300

Expenses
Mortgage: MYR 3928
Hire purchase: MYR 1595
Personal loan: MYR 830

What the possible loan sum (if any)?

Yes there will be another processing once geran or strata title Is ready so it will be register under your name which will ease the progress down the road shall you decide to sell

Existing MRTA can request for premium refund based on unitized covered years

You might not save or even need to pay more on ancillary fees based on existing interest rate unless your other commitment rates are so much higher likely personal loan with huge outstanding or you consider cashing out from top up loan

Rates will differ from bank to bank due to business, financing and risk appetite also applicants credit worthy/background. OPR is the baseline for bank where Spread Rate (SR) is individual banks margin per mentioned above. Best rates in town should be 2.9-3.1%, good luck

That how bank package their offering, bear in mind they do get their fee from MRTA too. MRTA coverage will pretty much depend on your strategy i.e if for investment perhaps to cover for 10 years as you will be likely to flip off before coverage end.

Do u opted for moratorium if yes then the interest accrued will add to installment beginning this month

Interesting in this case best to approach your bank for clarification

Commercial bank rate will always variable and if noy wrong only AIA offered fix rate so far, do share if you come across any bank offering fix rate.

You may want to approach your bank again shall the cleared loan remain in CCRIS record after a month or two of settlement otherwise it will remain as your commitment and may hamper your ability to secure new financing

If possible you may explore going single name under yr partner given hotel are high risk sector and also the fact zero commitment. What the partner age, if 30 and below can stretch till 35 years loan tenure

That for sure as it will lower your commitment thus increasing your loanable sum.

Affin seem better if for own stay, investment perhaps you can relook at reducing coverage tenure

Lower interest rate and of course the MRTA which will cover the mortgage shall touchwood unforeseen thing happen to you.

Full repayment will only kick in after 97.5% disbursed and progressive interest apply throughout construction period irregardless construction stage.

Progressive interest chargeable on amount disbursed irregardless at what stage the purchase.

[quote=raoul,Nov 14 2020, 03:23 PM]
[quote=lifebalance,Nov 14 2020, 11:57 AM]
Because the property is still underconstruction. Unless the property is already completed, you will then be asked to start servicing the full monthly instalment.
But i going to buy at 80٪ towards completionm. So do I only paying the progressive interest to the bank from 80٪ progress OR the total accumulated ftom early stage 3 years ago which at that time I have not bought it yet?

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Zero usage card are fine, each card will attached MYR 50 commitment fee say 5 card then MYR 250. For card with transaction it will be 5% of utilized amount include easy payment transaction. If you are paying card balance in full today do remit the payment 3 days before month end so it will appear as zero carrying balance in following month CCRIS