Dear,

1) For Rm50k loan top up, the fees for (valuation, stamp duty and legal fees) would be around RM 3860.9. Only loan side of document will be sign as there isn't any transferring of property but the loan itself.

2) Valuation will be around RM644

3) Fees will be legal loan, stamp duty loan and valuation. Other fees will be the miscellaneous of the legal charges (disbursement charges, gst.. etc)

4) Before the loan release, if you don't pay for the fees, you won't even receive the disbursement of the loan.

Dear,

1. Special attention account is cater for people who unable to pay off their debt and consult AKPK. When you consult this special services, it means your debt is out of control and you are unable to pay it off or continue with the installment. Hence, the debt that AKPK help you reconstruct will be listed in your ccris whereby, located at special attention account.

This is not a serious offence though, you won't go into jail. Anyway, with this special attention account listed, no bank will finance you mortgage loan. The logic behind is, if you are unable to pay off your current default debt, what makes you think you are able to pay off your future mortgage loan?.

2. The only way to deal with this is you settle off the debt A.S.A.P, before you apply any loan in the future. After you had settle the default, your status will be remove straightaway (or grace period of 7days)

Dear Dradormien,

1. firstly, congratulation that you receive a RM500K semi D as present! Before we proceed any further, may I know more in depth regarding your situation?

Is the property under your name? If it is yes, you can refinance anytime.

If the property isn't under your name, you would required different method to refinance the property, do read along below.

2. You can do a 3rd party borrowing to refinance your property cash out. By using your name as a sole borrower and the owner as the chargor to refinance cash out the property. But only one bank in the market allow such practice, hence your rate are dependent on this bank.

Or

3. If the property is under your father or any one of your family members, you can do a transfer with love and affection transferring the ownership of the property. As the property is unencumbered(Paid all loan off), you could consult a lawyer to facilitate this process.
After the transferring of property ownership is done, solely under your name, you can refinance with ease with any bank with the best rate.
But this method cost more as you pay more on the legal fees and stamp duty for (transferring of ownership + refinance)

Dear,

1. one question, are you still stated as MALAYSIAN and do you still have Malaysia's IC?

Dear,

1. As business owner, EPF is not a compulsory. For business owner, few things bank will take into consideration (Director fees, company bank statement 6 months, Tax B/BE form)

2. Nope, insurance is out of mortgage picture. Unrelated.

No problem. This thread is a sharing platform

Dear Lorry,
No problem. This thread is a sharing platform

Dear Availyboy,

1. If you settle the property in one shot, definitely it will save you alot on the interest accrued throughout compounding. But, If you settled all at once, all your cash will stuck in the bricks itself. When you need the cash for emergency, you would need to either sell your house or cash out, this will cost you lots of time and money too. The best practice is, credit your extra cash into the capital account, whereby your interest will be reduced based on the balance outstanding.
So, you will still have your emergency fund anytime you need it and you are able to reduce the interest of your mortgage.


2. Perspective of investor, they would drag as long as possible.

3. Perspective of house owner stays, it would be better to settle off all the debt and live peacefully without debt.

Dear Dradormien,

No sweat. Important is, this can help you.

No sweat!

Yes, legal fees, stamp duty fees and valuation are calculated with tiers.


1.Legal Loan:

<=Rm150k = 1%
<=1million = 0.7%
<= 3million = 0.6%


2. Stamp duty loan

0.5% on total loan amount

3. Valuation fees

100k = 0.25%
<=2million = 0.2%
<=7mil =1/6%


This are the tiers payment, it is the bottom net price you have to pay, there is lots of other cost (gov tax, strata transfer ownership fees, S&P preparation fees,
professional fees, etc etc)




Purchasing higher property prices, your LVS fees will follow accordingly.


But anyway, first time home buyer you will get
1) 50% discount on stamp duty


2. If refinance, use the total amount which is RM400,000 to calculate your total legal fees.

This post has been edited by Madgeniusfigo: Nov 29 2015, 01:17 AM

Dear,

1. This rate increase has been stipulated in the facility agreement, hence they aren't lying as it is written in black and white. The only thing is your banker didn't inform you regarding this terms or he doesn't even have slight idea about this. Can't blame, as bank stipulated such terms in ocean of small written words, which is hard for any one to identify such terms eve exist.

2. For banks such as OCBC, HLBB, AMBANK etc... they have 90days of late payment period before they will tune the rate to BLR+XX. Anyway, for the first late payment overdue rate adjustment, you will be able to seek for forgiveness and change the rate back to what it is. The 2nd time onwards, your rate will officially be BLR+XX.

3. For PB should be the worst, as they allowed merely 30days of default period. The rest is 90days and 60 days. Do check your facility of agreement for the default period given.

4. The things you can do to prevent such cruel punishment is: PAY ON TIME!

Other than that is to credit in at least 3 months advance installment into your account. When you went travelling or busy scheduled, forgotten to pay installment, at least you have prepayment credited to save your self out of such blunder.

Dear IHC2012,

1. Yes, the first way you can tackle this is by asking for rate revision. Not every bank allows such move as they wouldn't want their profit marginalize.

2. If they wouldn't allow you to seek for rate revision, refinance is another way around. As 5.05% is quite high for RM300K loan. refinancing would help out in this case as the basis point is 50 basis point %.

1st option incurred no lost, 2nd option will incurred legal and stamp duty fees on legal side.

No problem, as long as it helps you! Anymore question, do voice out! we are here to

Dear moomoosky,

1. Did you mean, how bank calculate income from shares interest?

Dear,

Refinance cash out fees:

1. Stamp duty loan (Based on the refinance cash out total amount)
2. Legal loan (Based on the refinance cash out total amount)
3. Valuation (Based on the highest valuation received.)

Market value RM500,000
Valuation is Rm600,000

Refinance cash out Rm400,000 from Bank A to Bank B

1. Stamp duty loan fees on RM400,000
2. Legal loan fees on Rm400,000
3. Valuation on Rm600,000

Dear,

The formula isn't standard throughout the banks, there isn't any standard for calculation, not like credit card.

Income calculation for shares, bank would only look at the dividend collected for that year.

Let's say Rm8000

Incomet for monthly will calculate as

(Rm8000/12 ) *0.8
=RM533.33

RM533.33 will be your supporting income


2. FD, use 3%/12

Dear,

This is very subjective, it depends on your end goals.

But due to both the rate and package is almost alike, I will compare the dissimilar facts.

1. If I wanted to refinance in 3 years time (Which is not feasible as the fees and cost are costly), I would chose Rhb for the islamic loan.

2. If I would want the cheapest interest rate, I would go for RHB as the spread rate is 0.4% compare to Ambank 0.6%. In the future if the interest rate drop, my loan rate % would be lower. This concept doesn't hold much ground as we still don't know how Base rate will played out in the future in Malaysia.

3. If U want the cheapest deal right now, I would go for RHB, because ambank MRTA cost Rm14496, whereby to me is costly and taking 35 years mrta isn't the best choice for mortgage protection.

Dear,

1. Never heard of the system goes crazy story before, quite new and refreshing. You will be remember as the men who breaks RHB loan system...

2. Most of the banks doesn't allow you to pay any advanced cash during interest period, some bank allows, some doesn't. you need to ask your banker or read the loan facility provided.

3. How are they going to charge you? based on what calculation? Just curious! haha

This post has been edited by Madgeniusfigo: Dec 1 2015, 03:49 AM

Dear,

lets take example of malaysian working at singapore

1. If A works at singapore and not a PR and still a MALAYSIAN MALAYSIAN, A will be eligible for 90% loan margin finance, depends on which bank A applies

2. If A works at singapore and now a PR, he will be only be eligible for 80% of margin financing.


From point 1. If the borrower has no debt and commitments in Malaysia, worst come worst is the margin of finance being slashed to 80%. But if he is able to show strong saving reserve cash 10k or more, bank might reconsider giving A 90%.