There are thousands properties in Sgor and their records are not in postal address unlike Majlis tempatan.

Everyone must have the Lot No., PT No., Geran, Mukim etc to search or inquire.

And you must also know where is your file located. There are several land offices in Sgor.

These records are since colonial time.



This post has been edited by mini orchard: Oct 5 2023, 07:13 AM

Why don't you post the questions here so that the right people can answer it.

There is no wrong questions but only wrong answers who do not know the subject matter.

This post has been edited by mini orchard: Oct 6 2023, 06:30 PM

Most lock-in are usually 3 years but some may be more.

I don't see how it can affect borrowing decisions unless borrower want to settle it within 3 years and incur a penalty plus paying for legal fees, stamp duty, valuation fee and mrta for short duration.

This post has been edited by mini orchard: Oct 6 2023, 09:32 PM

Generally, housing loan (not referring to mbb) repayment works this way ....

1. If borrower pays the stipulated monthly amount, then there is no problem with interest or principal figures.

2. If borrower pays more than the stipulated monthly amount (eg 2 months), the extra payment will be treated as advance instalment for the following month and interest will be charged as normal.

3. If borrower wants to part settle the principal, normally have to give notice to the bank and they will then deduct from the principal. The next interest chargeable will be based on the reduced amount.

Outstanding Loan is the amount borrowed.
Balance outstanding is the amount repayable (principal + interest)

Same with Credit Card terms ...

Credit Limit is the card limit shown no matter how much one has charged the card.
Balance outstanding is the amount of charged transactions minus repayments, if any.
If Balance Outstanding = Credit Limit, then the card cannot be charged further.

For SI, the money should come from Savings/Current account. If don't have one, then have to open an account.

Different banks may only have slightly different procedures and terminology but it won't be far off.

Whatever procedures, bank won't rugi but borrower must monitor their statement to ensure it is correct.

This post has been edited by mini orchard: Oct 7 2023, 02:51 AM

I don't believed banks will just terminate a LA for reason of a job changed.

Banks approved a loan based on many factors and employment or business income is just one of it.

If you are worried, then inform the bank and it may then request the offer letter as further supporting document.

The bank has the foreclosure rights in the event of a default. It won't go to that route unless no choice.

This post has been edited by mini orchard: Oct 14 2023, 08:15 AM

Not saying you cannot refinance but would be better to say briefly why you need one so that non banker can give their unbiased opinion.

You may be surprised to read some answers which may change your decision.

This post has been edited by mini orchard: Oct 17 2023, 10:34 AM

Since you know that there are cost in refinancing, however you must also know that no lawyer and valuer are going to give free service. In addition, govt will charge stamp duty for new loan agreement.

You will not pay for refinancing cost but it will be added into the loan amount and interest will be charged.

In addition, you may need to buy new mrta and the premium will be higher due to increase age factor. However, you can terminate the old mrta and will receive a small refund. But if you have purchased mlta, then it won't have additional cost.

Your new monthly repayment may also be higher, again due to age factor.

The most crucial part is your property valuation. If your current property is valued less than previous purchased price and also lower than your current outstanding loan, then you have to settle the differential sum for any refinancing to proceed.

But if is higher, then is no issue and you can even refinance a higher amount than your current outstanding loan which will then translate into paying more for refinancing cost and higher monthly instalment.

Since you purchased in 2018, and is only 5 years into the loan, the principal won't reduce much esp if you have bought new and the first two to three years are only interest payment during construction.

I do agreed your current interest rate is high but then it also depends on the amount you have borrowed. But is no harm to ask around to check which banks can offer better.

After getting the result from the bank, you do your maths to compare whether is better to refinance or stick with the current.

Sometimes, it is better to part settle the principal as and when you have available cash to reduce the interest payment than refinancing route.

With the explainations above, you form your decision.

There is no conflict of interest when using same lawyer. Both are different documentations.

Unless you have reasons for using two ... eg your spa personal lawyer is not in the bank panel list. Depending on bank, the lawyer can apply for ad-hoc admission unless he is blacklisted by the bank.

Normally, a lawyer will be in a panel of few banks.

Similar to one person doing two work and two different person doing one work each, the work is better coordinated by one.

Fees can be flexible with higher billing for both.

Loan is a competitive business and every bank is trying to give borrower the 'best' without sacrificing their profits.

If it cannot make money from interest, it will take from other sources.

There is no best loan package in town.

What due diligence ?

And you can think you can collate each bank TNC and put into one agreement ?

That is why I said there is no best loan package in town.

Borrower do whatever due diligence and choose the middle ground and seldom the 'best'. Is which terms each prefer and don't mind sacrificing some other terms.

Winner and loser are in every agreement. If want to win everything, then buy cash 😂

This post has been edited by mini orchard: Oct 19 2023, 01:55 PM

In my opinion, I don't think the developer can stop a buyer from applying a bank loan during the stages of completion.

Basically, they just want the money upon billing and if the loan document cannot be completed during the next billing, then buyer has to pay first or else late interest charge will be levied.

I am not sure developer will bill buyer for additional admin charges which you have to find out.

Alternatively, if you have another loan free property of higher value than 500k, you may want to consider refinancing it.

Fees / other cost to be incurred for refinancing .....

1. Legal fees
2. Stamp Duty for Loan Agreement
3. Valuation fees
4. Differential sum, if the financing is less than the existing outstanding loan due to lower property valuation.

10 years refinancing for cash out portion.

The mrta coverage sum is not enough for the loan sum.

There are costs to property ownership.

Maybe you can consider to buy one mrta for the breadwinner and use the other premium to increase the coverage.

Can also buy PA.

Mix and match for higher protection if cannot have full mrta.

Yes.

If you are not comfortable doing business with someone, go ahead to seek alternative.

Only the principal portion.

If you are not sure, dont buy !

Hope it is not some advised by property gurus !

One property, two or three different banks application same time ... normal.

Two properties, two different banks application SAME time .... 🧐

This post has been edited by mini orchard: Apr 8 2025, 08:50 AM

What is your concern ?

Yes.

At the same time, it is also good to check out what other banks are offering.

Approach another banker.