Dear,

1. You don't have to transfer the name before you get financing from the bank.

2. The land is it fully paid off or still under banks financing?
Usually bank will charge the land also, with minimum RM200-300K loan amount.

3. When you request for loan financing to rebuild your house, you can be the borrower and your father the SPA owner or both of you as SPA owner.

Dear,

Priority definitely to clear credit card debt. If you owe credit card debt and get penalized, the interest charges is 12-18%!

Moreover, with lower credit card utilization/ lower outstanding balance, your credit scoring will be better and better for your future mortgage loan application.

Dear,

1. Full flexi will not charge you for redrawal and flexi repayment.

2. Most of the banks now provide daily rest calculation

3. Monthly fees will definitely charged for full flexi, RM10 for current account maintenance. Semi flexi doesn't have monthly fees RM10 charges but redrawal will be charge Rm23-rm53/transaction

4. No lock in period will be islamic loan.

Hence I would suggest

-PBB,RHB,AMBANK for the 4.35% rate this month

-Any bank for point No.1

-Any bank for point No. 2 & 3

- OCBC,RHB and CIMB Islamic loan for all the point above

Dear Argiope,

1. For Loan amount Rm500,000, the rate can go from 4.38-4.45% HLBB rate is not the best, compare to other bank.

2. Should you settle it really depends on your income, whether your income is sufficient for you to refinance Rm500,000 with existing Rm150,000 outstanding balance debt. I would need your income and all existing debt commitment to calculate this.

If your income sufficient for RM500K refinance, then you won't need to settle RM150K mortgage loan... it is a huge amount. Hence, you save on paying RM150K and get the refinance done.

If you opt to settle it, make sure it is not within the lock in period, as they is 2-3% penalty for settling property within lock in period.

3. Go for flexi loan but semi flexi instead of term loan. Semi flexi at least you can withdraw your cash (given that you creditted some amount of cash in the capital account) Semi flexi is suitable for people without huge cash flow monthly, moreover they don't need to pay rm10 monthly maintenance fees.

Going for term loan wouldn't reduce the interest rate, the rate is same for flexi and term loan.

Dear,

1. Comparing banks, first of all you need to know your profile suits which bank. After you know which bank will accept your profile, only then you compare among them. I would need to know your income profile and debt/commitment before I can assess your loan cash out eligibility.

2. To refinance cash out to settle your outstanding loan isn't a wise decision. Mortgage loan is the cheapest financing we can get right now. Given that your thought is to cover the lower rate with higher rate mortgage interest rate isn't wrong at all. But, it will be a waste, why don't you refinance cash out, park the money into your old mortgage loan account, but not fully settle Rm150,000 (AS IT WILL AUTO SETTLE) park Rm100,000. Hence when you need the cash, you can withdraw it anytime.

When you settle the loan immediately, your RM150,000 will stuck in the bricks.

3. You need to know what's your objective, to invest? to purchase more property? to pay off debt. Then cash out amount accordingly.

I would recommend you not to settle in one shot, but park money in the current/capital account, while serving minimum interest installment, then use the remaining cash for other purposes.

Dear,

Islamic RHB, you have the option for lock in period or no lock in period. You need to request from the banker.

BSN I am not so sure, since I am not affiliated to this bank.

Dear,

Let me briefly summarize the flow for mortgage process,

Loan submission ----> Loan acceptance---->Sign Letter offer----> Letter of instruction send to your lawyer and valuer ----> Sign SPA ----> Sign Loan facility----> ---->Bank will do a further checking on document for fraudulence.

Usually bank will route your case to another department for fraudulent checking after you had sign the Letter of offer. Bank does their best to prevent being cheated alive.

Hence, to your question. Yes, your loan has been officially approved. If you are a genuine borrower and all your documents are genuine, you wouldn't meet any stumbling block after signing all the loan documents.

Dear,

1. With your gross salary RM3500, your max property price purchase eligible RM350,000 only HLBB. Hence, purchasing RM 300,000 property is still achievable. 90% margin of finance dependent on your CCRIS and CTOS record. I need to view them before i'm able to conclude your chances.

2. After purchasing RM300,000 property, your war chest will be down to zero. If salary still remain, you couldn't purchase property more than RM50,000. You need to either get pay rise, join borrow or with tenancy agreement supporting income.

Dear,

Sadly to say, there isn't any law that can protect purchaser from ill hearted developer.

1. When you purchases an under construction project, bank will follow a schedule of payment to release(disburse) cash financing to the developer. Lets say your project has reach 50% completion and developer wind down, you would need to complete payment of total 50% cash disburse to the developer. Your property will hang there for some time until new developer take over or.....

It doesn't sound fair, as you pay for a half complete project.

2. There's the famous Talam developer who has abandoned alot of project, they aren't punished, in the end they established and rebrand themselves TXXXXXY and start all over again. Purchase who once purchase their un finished projects bear the brunt.

Dear,

1. If the 2nd house RM300K property, you joint name with others to purchase it. Your 3rd property would be eligible for around Rm150k-200k Property price estimation.

2. To purchase RM300K property for 3rd house, it's either you joint name, had your salary increased and etc etc

3. Remember, 3rd mortgage loan, you are only entitled for 70% margin of finance.

Dear,

1.On your credit card part, May I know what's your outstanding balance for it?

2. Do you have any supporting income?

a) Allowance
b) Bonus ( 2 years average)
c) Tenancy rental agreement
d) Fixed deposit
e) Share dividend
f) Amanah saham dividend

Dear B u B u,

It goes without saying, banks doesn't allow such joint applicants that aren't family members. But my answer is Yes and No.

1. Bank would allow family members joint name with (parents, spouse, siblings, in laws) other than that would be fruitful catch.

2. But, there's such a thing where friends joint applicant and it works. I don't deny that this can't be done but it comes with risk too. It really depends how well you cement the layer to prevent being detected and also depends how desperate does the bank wants the business.

Dear

1. Follow analysis based on the details given, right side bottom depicts the max loan eligibility by different bank.


2. For your income and debt/commitment analysis, your max loan eligible is RM195,000 from RHB and the rest stated. It's due to high credit card outstanding debt that reduces your loan capability.




3. If you settle your Rm25k outstanding credit card debt,

For your income and debt/commitments, you still can purchase max Rm445,000 PROP from RHB and CIMB, and the rest according to the figure stated



4. Quite interesting, your first house finance with 70% only.

Dear MiKE7LIM,

1. When bank calculate your debt commitments, they usually will look at your CCRIS. In CCRIS, your mortgage loan will have a status stating whether it is joint name or solely own by you. When bank saw [J] Joint name, they will calculate the loan debt based on 2 party sharing this mortgage loan. Meaning to say, Yes Rm300k loan, you will be responsible for Rm150k loan only.

2. Moreover, if the loan is shared among 3-4 party, bank will still split the loan in halve only. Only if you can provide the bank with Letter offer stating how many parties are sharing this mortgage loan, they will only split accordingly for the debt.

Dear,

1. Yes you are right, ambank cash out doesn't offer Full flexi.

2. For cash out full flexi with slightly better rate, Hong leong bank berhad.

3. However, I would recommend CIMB, as the rate is competitive, loan tenure 30 years.

Dear

1. For rm500k loan, the rate will be in range of 4.4-4.45% or even better. Based on your profile. Nowadays with base rate, effective rate given are based on banks spread on you profile. Better the profile, better the rate. Hence I can only project a set of rate range.

2. If you are HNW, definitely the rate would be better than my given set of rate range.

3. 3years lock in period is fundamentally the standard given by the bank. Bank need at least 3 years to break even their cost in procuring financing to borrower, admin cost etc.

4. If you want loan without lock in period, Islamic loan will be the preferable choice, only thing is islamic loan required extra 20% in stamp duty (extra rm500-rm1200). Due to their Islamic process, more documents are needed to execute the loan.

Dear

1. If you sell house 2 and settle Credit card outstanding balance, you will be eligible for max RM1,100,000 loan max.



2. If you Top up rm160k, and sell house 2 , settle CC oustanding. Your Max loan allowable is RM720,000

Dear B u B u,

To be more accurate, do provide me below details,

A

1. Commission 6 months for
November:
October:
September:
Ogos:
July:
June:

2. Bonus
2013 Bonus
2014 Bonus
2015 Bonus

3. Credit card
outstanding balance?

4. Housing loan
initial borrowed amount (credit limit)?

B
1. Car loan
initial borrowed amount (credit limit)?

Dear B u B u,

1. Max is Rm110,000 PROPERTY. Your debt is too high and income is insufficient to purchase more than Rm110,000 PROPERTY.

Dear,

1. what's your project name?

2. Full loan as in 100% loan? Most of the bank can finance 100% loan, but successfully getting it depends on your credit scoring and income/ debt commitment. Bank need to assess your profile carefully before handling you 100% loan amount.