If apply a housing loan and approved but later found a better house can we change the loan or need to apply again. Will it effect the scoring when apply again. The project is different project but from same developer. Thanks

Suspect need to apply again since all your documents have the exact house address/details. Small charge will apply for termination (I just terminated my loan application due to seller unable to produce title, bank's lawyer charged an abortive fee).

I have a question on joint mortgage loan.

Currently I have a joint mortgage loan, which myself and ex. If ex want to withdraw from the mortgage loan, what is the procedures? The property under my name but joint loan.

I tried to search online, I found something regarding on refinancing/transfer of equity but have little knowledge on this. I would like to find a quickest way to solve this.

I have a question on joint mortgage loan.

Currently I have a joint mortgage loan, which myself and ex. If ex want to withdraw from the mortgage loan, what is the procedures? The property under my name but joint loan.

I tried to search online, I found something regarding on refinancing/transfer of equity but have little knowledge on this. I would like to find a quickest way to solve this.

Anyone got experience apply loan with AIA? Purely wondering as usually banks are the panels.

Also wondering if there's any extra benefit getting home loan with them apart from MLTA.

Heard that their rates varies between years. Does AIA inform of the interest changes from time to time?

*Also searched in the thread, noticed not many people did their loan with AIA hence asking

Hi sifus,

Would like to ask for feedback on this loan package, while I do have some question about the mortgage as well.

Loan approved from PBB @ 85%

HL : ~RM560,000

MRTA & CI: RM27,768

Total Loan : ~RM600,000

**figures are rounded to prevent easy identification of property / agents offers and their identity / mine.

MRTA sum insured RM500K @ 30 years

CI sum insured of RM200K @ 15 years

Tenure : 35 years

Interest Rate : SBR + 0% = 3.00% for the first year SBR + 0.80% = 3.80% for the remaining tenure

---

Also, since I am literally new here, please excuse my sentences if they are confusing.

Question:
1. Would it be possible to negotiate down for the MRTA & CI?
1a. If yes, to what amount?

2. Would it be advisable for me to request for a fortnightly payment terms as opposed to a monthly payment term?
2. If yes, how should I request for it if applicable?

But I have received another offer from HLB

They offer the 3.85%, same financing amount for HL, but waive MRTA.

Would this be more worth? Taking into the fact that there is no added protection.

Any sifu can give some feedback on this?

PBB montly RM2,532 vs RM2,429 for HLB difference of RM103/m. If u pick up HLB and put this RM103 into the advance payment monthly u can fasten by 34months finished off the loan.

The downside is no protection for this loan. What’s the purpose of the HL? Own stay or investment?

How much is ur current life insurance sum assured. Can’t deny life insurance is important especially if this property for own stay and u have minors.

Hi Thank you Ewa,

Means that I take HLB, but still pay the extra RM103 advance, then can fasten by 34 months?

That's alot .. but its true that it will not have protection

I will purchase for own stay at the moment, single no kids

Would adding MLTA work?

Anyone have managed to get 3.8% with MLTA with HLB?

Hi Thank you Ewa,

Means that I take HLB, but still pay the extra RM103 advance, then can fasten by 34 months?

That's alot .. but its true that it will not have protection

I will purchase for own stay at the moment, single no kids

Would adding MLTA work?

Anyone have managed to get 3.8% with MLTA with HLB?

Yes by putting RM103 every month u finish the loan early by 34months about 3 years. The power of advance payment.

3.8% vs 3.85% monthy instalment difference of RM17 on RM560K. Not big difference. If u intend to get a good MLTA then buy outside. No point buying 5 years with minimum sum assured to get the 0.5% lower rate. Buy a proper plan MRTA full tenure on loan amount or MLTA.

IMO, I would suggest MLTA bcoz the beneficiaries is family member. If next 3-5years you are going to marry with kids. Assume you are a bread winner in the family. The MRTA will give ur spouse a free house but not her financial support after the lost of the main income in the family. Once the MLTA payout to ur spouse, she/he can use it to slowly payoff the loan and also support the family financial needs.

If you die in 10 years, will your future wife be able to pay off that loan? If yes, no need insurance. If no, the answer is obvious.

In my case, I opted for the lowest mrta allowed by the bank to get the lowest interest.

MLTA is very much more expensive, at least in my case.

Btw, did you get the officer to renegotiate for lower rate with the existing terms?

I'm curious, why 10 years only though? I mean, if I did my calculations good enough, I think 20 years with MLTA adequate enough does not cost up to 40k unless I add other stuffs

I managed to get PBB 3.8% with lower MRTA, but by not much, about 5k reduction only.

But HLB banker revert to me will give me few options including 3.85% without any MRTA or MLTA requirements since I got my approval.

It's just an example. Mrta is like normal insurance - if you don't need it, you don't buy. Only you can decide whether you need it.

I see, thank you for the input

I think I will nego with the banker from HLB to get MLTA, while also getting 3.85% or lower

I calculated purely on the 0.05% the difference over time is about 7k / 35 years

But the difference is whether I can get MRTA or MLTA