Hi there.

Since your first loan is fully paid, you are entitled to 90% loan for this 3rd property.

I need to discuss further with you on the numbers and figures to confirm.

You can entitle up to 25 years

Current offer is 4.99% and zero moving cost if loan above 500k.

hi
thank you for your reply. How much can I save in terms of ZMC assuming I take out RM 567K loan from AIA?

Stamp Duty 2900
Legal Fees about 4500
Valuation: 1200

About RM8600*

Thank you. I will be contacting you if they accept my offer price

Sure, no problem,

Dear rivalry.

1. I include your mortgage at max MV as debt, your income and debt still qualify you for max RM968,000 loan eligibility.

2. Purchasing RM650,000 property shouldn't be a problem, only thing is I need to look at your ccris, ctos and income documentation to confirm.

3. Since you have 2 existing mortgage, your max margin of finance for 3rd mortgage is max 70%.

4. max loan tenure is 70 years old, hence you are now 45 years old, you are still entitle 25 years of max loan tenure.

5. For AIA, their fixed rate are peg at 4.99%, you are not affected by the variable changes of the base rate and interest rate. YOu are hedge when there's downturn in property market, however, till now, few banks conventional rate haven't exceed the fixed rate that people have partake previously.

However, when the rate is low or average rate, you will still have to pay for the higher interest rate, just take note.

6. There's 2 banks offering zmc, AIA and HSBC.

7. Inorder to save more from entry cost, you can have Law**r to quote your entry cost higher, hence the financing can reach max amount, any outstanding balance can be cash out.

8. Inorder for you to get high 90% margin of finance, consider 3rd party financing.




This post has been edited by Madgeniusfigo: Feb 5 2016, 12:57 AM

Hi,
I only have 1 outstanding mortgage ( still owe bank RM 270K and monthly paying RM 1950). What is my max margin of finance for 2 nd mortgage?

If its what you've said then financing a new house at the price you gave is not a problem

As I mentioned to you earlier that the 2nd house will get 90% and not 70%

May I ask, so in general a rate with BR is better than BLR?

OCBC BLR just increase to 4.92%

Not necessary, just that BR rates are more transparent in terms of the bank's margin.

Hi folks,

just some questions. my property value is less than 100k. im currently searching for an islamic financing. based on the table below is this a good package?



i think the +2.85 is quite high or is it common for islamic compared to conventional?

p/s - rate is from BSN. can look here http://www.mybsn.com.my/content.xhtml?cont...=&checkMethod=&


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Dear,

1. For 2nd mortgage, you can go for max 90% margin of finance

2. Your max loan eligibility is RM1,400,000.

3. If you need any help in restructuring debt, financing consultation, do give me a call.

Dear KadS,

1. for Rm100k below loan, 6.95% rate is very high compare to norm market rate.

2. rate for islamic and conventional loan doesn't differ much, it is the same thing.

3. You can actually opt a better offer than this though, get islamic financing from HLLB,RHB or other conventional banks. The rate would be 4.8-5.4%

Dear koinibler,

1. People would prefer BLR for its non over fluctuating swing in changes of the rate. BLR tends to alter whenever BNM alter the OPR. Bank couldn't alter the BLR themselves at will, but they can adjust the effective lending rate. For the past few years BLR has been quite stable and the effective lending rate has been very low, hence people would prefer BLR more as the norm of low rate for past few years associate with BLR.

2. BR in general is more transparent, however, the rate could be altered by the bank quaterly but not compulsory.

3. In succinct, BR are more preferable over BLR as it is more transparent. There's no which is better, just which is more comfortable and preferable in the eyes of the consumer.

i see..

thanks for the details. appreciated it

While I respect your comments / own views but I find it rather misleading.

No sweat

Madgeniusfigo

currently i have 3 property under my own name, all 90% loan.
the DSR is roughly about 70%.
Is it possible if I refinance one of the property and will i get 90% loan?

When I signed my load it was BR 3.8 + 0.6 = 4.4 %

And then Ambank increased their BR to 4% so now its 4 + 0.6 = 4.6%

which I feel is unfair considering their offering new loans as BR 4.0 + 0.4 = 4.4%??!!

Is this how one gets conned these days? Can someone advise? Thanks...

Hi Sifus,

For a 900k property, how much would the bank loan lawyer fee roughly cost?

TIA

This post has been edited by sishouse2: Feb 5 2016, 10:08 PM