Not bad, you can get offer from Maybank at 4.45%. Now maybaank interests are insane.

Thank you for the comment.
I thought left BR rate is fluctuating but the right (e.g. 0.5% is fixed rate).

that's a lot of people's misconception.

Correct, BR is fluctuative while the spread is fixed throughout the loan tenure.

Are banks allowed to lower the loan amount from that stated in LO after signing? Mine lowered theirs after the property inspection by the valuer.

It's normal for the bank to have condition to the effect that the loan amount to be RMxxx or subject to x% of the formal valuation of the property being financed, whichever the lower.

hello. may i know how u earn 31k/mth without contributing to tax?

that's like RM372k per yr....it's definitely in the tax bracket..

What if it is not stated in the LO, can appeal?

Even thought if it's not written upfront as the approval term, I reasonably believe that those fine prints under the Terms and Conditions would have spelt out sth which grants the bank the rights to vary the amount.

Of course you can try to appeal. The issue now is not on the DSR or repayment capacity (as it was approved at higher loan amount) but the security coverage of the bank.

This post has been edited by Jasoncat: Feb 3 2016, 03:40 PM

Hey people, would like some clarification on the mortgage loan. If one who has CCRIS and manage to clear off all debt and BNM clear his/her name. Can he/she immediately apply for a mortgage loan?

Will there be some difficulties for one as such to buy a house due to the CCRIS history?

Thanks

That's why valuer will always give a value not blown up to trick the bank because the valuer have to declare

Say now you force valuer give you 1 Mil and your loan approve and then bank ask valuer inspect and say now only 600k then your disbursement will be reduced

It's definitely in the letter offer

You have to clear it all off and wait 6 months so that bank will know you won't be defaulting in the next few months. Some people might need to wait up to 1 year

Dear,

1. Yes, top up is alike cash out but within the same bank. The cost for it is Loan legal fees, stamp duty and valuation. However, if you want superb fast disbursement of cash, aim for top up, it takes 2weeks+ for the disbursement to happen. Cash out will take 1month++

If you want better rate or opt for different bank, go for refinance cash out.

If you need to cash ASAP, go for top up.

2. Epf acc 2, Yes.

Dear,

Yes, I can be of your assistance for this.

Dear,

I would go for RHB, lowest spread rate 0.5%. and lowest effective rate.

okay, thanks! gong xi fa cai!

Dear,

1. It's all stated in the fine print of LO. Bank will take the price lowest given by valuer. Bank won't risk their business and take on a sky high market value. It's a business for them. If the valuer suddenly gave a lower value than before, then everything have to be amended.

2. That's why, for my practice, any value I get, it is written black and white through email or watsapp. So I have the proof to show that he/she given me this verbal value.

And also a guaranteed protection for my client.

Usually, valuer won't differ from their verbal valuation, except,
a. banker simply write the value higher than given
b. being forced by banker at first and valuer feel uncomfrotable after that and opt to lower the market vale
c. The property feature mistakenly describe by the banker itself.

Dear psyconutss,

1. CCRIS will hold max 1 year history, history more than that won't show in it. However, if you defaut certain loan with bank A, cleared off your debt, and apply loan with Bank A, they might still have your previous default data.

2. Let's say, if you have 1-2 arrears with your car loan and wish to apply loan right now this month, you can do so by settle the debt and get a settlement letter and apply mortgage loan. This is doable as arrears 1-2 still not that serious.

3. Lets say, if you have 6-8 arrears for your car loan, it is better for you to settle the debt and wait till next ccris update to clear off this debt. Because more than 2 arrears is terrible in the eye of the bank, eventhough you have settle the debt with settlement letter, 6-8 arrears still visible, bank will definitely take precautious.

Sorry, tumpang tumpang ya..
Another option is top up with the same bank for my case. But I hope to get better rate. Could the bank revise the previous rate?