About 30% of SnP legal fees excluding disbursements if use same snp lawyer.

Range from 10 to 40 or even 50 depending on total fees. If regular customer always buy sell, more. Value of property also.

Some give discount on fees only, others on total bill, others just do rounding off.

This post has been edited by mini orchard: Nov 24 2022, 02:44 PM

No discount for stamp duty. Is paid to the govt.

I oredi posted the online calculators link few times. Use that and add about 2k each disbursements for SnP and LA.

That is roughly the max b4 discount.

I am not a lawyer.

This post has been edited by mini orchard: Nov 24 2022, 10:34 PM

Read here and you can decide thereafter ....

https://ringgitplus.com/en/home-loan/AIA-Fi...-Package-1.html

Doesnt matter much if is only few years

I believed you are more concern about lhdn.

This post has been edited by mini orchard: Nov 30 2022, 06:10 AM

Do your read ALL posts b4 replying ?

If your eyes missed it, not my fault lah.

And I thought anwar introduce the new act after he became pm !

This post has been edited by mini orchard: Dec 1 2022, 06:35 AM

It wasnt my posting in the first place. I was just quoting a previous post. Anyway, admin deleted it.

Best is dont buy property ... just rent lah.

Buying is too much hassle ... pay this, pay that, write will, next of kin fighting to grab etc.

Spouse dead just marry again with life payout.

And only an idiot here will buy comprehensive policy for new car ... no ?

And a non working widow with 5 young kids will thank his dead husband for buying mrta !

This post has been edited by mini orchard: Dec 3 2022, 06:32 AM

Any bank loan officers will be able to give a verbal quote. Official only upon submission of all documents.

Generally most mortgage agents would try to secured a loan for his clients but ONLY whether the deal is for their best interest or his interest. In short, all agents whether property, insurance, unit trust etc would want to earn good commission.

A lawyer handling borh SnP and LA would be able to give better 'discounts' and legal fees are oredi fix by the Bar Council except for some variation in disbursements.

A single lawyer would have less work 'problems' and shifting blame.

This post has been edited by mini orchard: Dec 10 2022, 05:06 AM

Possible of the bank splitting up housing and mrta financing.

It defeats the purpose of the principal prepayment and then reduce monthly repayment.

Banks normally wont reduce monthly repayment

Since it is a flexi loan, on the assumption it can be reduced, when borrower withdraw partly, increase monthly repayment again ?

What is your meaning of same ? 4% now and 4% 5 years later ?

On the assumption your loan amount is the same, the monthly repayment on capital portion at later age will be higher due to shorter tenure.

Is difficult to say whether the profit interest rate will be the same in the future for the same category of financing.

This post has been edited by mini orchard: Dec 12 2022, 04:36 PM

Buying a property from bank borrowing is a commitment to repay, otherwise the bank will take all necessary actions to recover the loan.

Buying within present affordability is the key to long term commitment, albeit some borrowers may suffer from unforseen financial misfourtune during the loan tenure, such as losing an employment or business income at older age and unable to secure the same income job to cont the repayment.

On the assumption a borrower can afford now, buying now and 5 years later has its pro and cons for eg if renting or staying in a family house.

Depending on the property preference, generally property prices wont be selling cheaper over long term. Esp for new construction, total buying price is lower BUT psf basis is HIGHER .... meaning paying more for a smaller place.

The key to successful long term borrowing is to settle the loan at the earliest time through few partial capital repayment over the tenure.

Some investor gurus may advise that is better to invest the extra money to have better returns since loan interest is cheaper but I have this to say ....

"An investor can burnt his investments, NOBODY cares. But the bank will collect the outstanding loan from the borrower till grave"

Interest rates charged by banks other than age is based on risk factor ie how easy for the bank to recover the loan in the event of a default.

Generally, interest rates can be cheaper over long term compared to short term borrowing and with higher loan figure.

If age is older, tenure will be shorter and bank will earn less, hence a slightly higher interest no matter what is borrower's profile ... that is busness. Bank will only loan to those good profiles ... right ?

In any business, buying more will have better pricing aka higher loan and longer tenure (younger age) will have better rates.

A good example is HP loan. Compare a 3, 5, 7 or 9 years loan for the same loan amount.

Another reference is FD.

So it works both ways .... higher interest rates for long term fd or short term loan and vice versa.

Conclusion .. Age matters aka tenure.

This post has been edited by mini orchard: Dec 13 2022, 10:19 AM

The tenure for principal loan repayment portion starts after the final progressive disbursement.

During construction disbursement, there is no repayment of principal sum portion except for the monthly interest charged.

How much is your current monthly repayment ?

Use the below link to check for 390 and 420 months monthly repayment.

https://www.propertyguru.com.my/mortgage/ho...loan-calculator

This post has been edited by mini orchard: Dec 14 2022, 07:07 AM

Did the bank officially stated your tenure will be extended with the reduction ?

Legally the bank cant change without official writing.

For my loan, any change in instalment amount will be informed through official letter.

What was the original tenure and 'new' tenure expiry date ?

Almost near to zero.

Generally banks dont entertain such request because they know is also 'not easy' to do refinancing. Is not a simple case where a borrower "transfer' the loan to another bank.

Another reason is majority borrowers seldom complete the loan tenure not because of refinancing but subsale or extra funds availability.

Seldom do borrowers do refinancing because of small interest diff but more to cash out the extra value for other purpose.

No doubt interest rate is important to a borrower but he should also look into how to settle the loan in the shortest time which will save on interest payment and the very good reason why borrowers prefer flexi loan package.

That is ONLY if you complete the tenure. If you sell before the expiry ?

Other than secured investment like fd, if is other investments and if it gets burnt, banks dont care. But if borrowers dont settle the loan for whatever reasons banks will chase till grave.