Justice has been served!

Dear,

1. What's your

a. Allowance
b. OT
c. Performance Bonus for 2 years, 2014 and 2015
d. Contractual Bonus 2015
e. what's the initial borrowing from bank for the shop lot loan?
f. no credit card or personal loan debt?

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Based on the vague information above



1a. Yes, bank take into account of all i ii iii Income.

GROSS INCOME, ALLOWANCE, COMMISSION, INCENTIVE, ASB CASH DIVIDEND!

2b.

Case 1.

Based on shop lot being settled. Your max loan is RM866,000 for HLBB, right bottom corner for the rest of the banks, yellow highlight.



Case 2

If you don't settle the shop lot, your max loan eligibility is RM736,985 for HLBB, right bottom corner for the rest of the banks, yellow highlight.





3c. IF you are willing to pay RM2500 installment.

Assume 4.5%, 35 years loan tenure.

You would be able to afford LOAN amount of around RM530K, Purchase Price of AROUND rm600,000

This post has been edited by Madgeniusfigo: Mar 5 2016, 11:21 AM

Wrong info.

Dear AIA insuance agent,

Please show the mistake, will ya? thanks alot

Could someone please share experience/guide how to change the master title to strata title? Is there any clause?

Dear Great Eastern agent

The tenure of the loan is supposed to be 28 instead of 33 as per 42 yr old

Tq

The developer will need to apply with the state government and also permission from all the unit owner for the title to be changed to strata title.

From owner perspective, we do not required to do anything?

the strata titles are first issued to the developer or land proprietor. Once issued, the developer will write to inform the purchaser, the purchaser's solicitor as well as the end financier. Normally, the notice will include instructions on the developer's solicitor's information, amounts to be paid or utility deposits to be transferred as well as a copy of the title and accessory parcel (if any).

What is the process to transfer the ownership of strata title?

1
Developer and purchaser sign Memorandum of Transfer ('MOT') form (Form 14A, National Land Code)
2
Lawyer sends MOT to Stamp Office for adjudication to ascertain how much stamp duty is to be paid. Stamp Office then stamps MOT for a nominal value of RM10.00 (being adjudication fee) and returns MOT to lawyer.
3
Valuation Department then values property and informs Stamp Office of valuation amount. Stamp Office then issues the notice (PDS 14) of the stamp duty payable based on the said valuation. Lawyer collects stamp duty from purchaser and proceeds to stamp MOT. A penalty is imposed if the instrument is not stamped within the stipulated 30 days from the date of the notice.
4
After stamping MOT, lawyer presents the MOT and charge instrument (Form 16A) (for properties charged to a bank), to the Land Registry/Office for registration. On presentation, a presentation number would be allocated. It would take an approximate 6 to 9 months or earlier with the recent implementation of the Computerization System of Strata Titles.
5
Once the transfer is registered, you would receive the strata title from your lawyer. If the property is charged to a bank, the title would be sent to the bank. You should get a photocopy of the title from the lawyer for your record.

Credits to http://www.hba.org.my/articles/iprop/transfer.htm

This post has been edited by lifebalance: Mar 6 2016, 08:21 PM

Thanks Lifebalance!!

Dear,

I am glad that there's people sharing good knowledge here, but this article seems to be copy from some author. Do cite the author as an appreciation for their effort to write all this down.
If not, it will be blatant plagiarism. It wouldn't be fair to that person right?

Dear,

That's the default setting and I didn't inform him his loan tenure would be 33 years...lolol

Anyway, good eyes. Hope you can catch a more significant relevant error next time.

Yeah sure will do thanks for reminding. Will add it on later

I had expected you to admit the fault rather than shoving me by telling me that the error is not significant enough. The borrower would have expect that the figure you mentioned would meant that he can get the loan that much.

The problem is not on how significant is the error but every error counts in the financial line. You screw up then the case screws up. Plain and simple. What if the client comes back to you and said that look I can't get my loan approve. What went wrong? You're going to tell him and admit your error in the calculation or beat around the bush and hopefully he doesn't find out?

I was thinking maybe you would have said "I'm sorry I overlooked that portion, will change it accordingly. Hopefully it didn't mislead that person" in humble attitude rather than being egoistic with the reply above.

This post has been edited by lifebalance: Mar 6 2016, 08:30 PM

Dear Life balance,

As always, all the analysis is based on estimation. There's always a given range to how much can be receive and every bank has its own policy and guideline in calculating the max loan analysis.

1. As always, I would give an estimation but ending success must based on the actual document of his CCRIS, CTOS and his income documentation.

2. So you are saying, what you posted here estimation of loan range for the netizen is on top notch accurate? I won't ever give my assurance until I look at their document. Hope you won't it will be a blatant mistake.

3. I would apologize if I ever give assurance in the estimation and they came back biting me on the it. But anyhow, I had never give any assurance in it till the documents has been thoroughly examined by me.

4. Furthermore, this is just an initial analysis, there's definitely a gap of difference from actual one, and given that his information is still vague, I would need few more details from him to tabulate an actual analysis. Until I had the right details, will I tabulate the DSR on top of his mortgage loan financing.

5. You are trying to make a point out of nothing, the fact is, I still haven't include his age factor into it as I have written, as per vague information given. I don't need to alter anything as the table tabulated is not based on his age factor yet.

6. You are telling me, without his actual information given accurately, you can estimate his range of max loan eligibility? Seriously ?

There's still unknown factors in



7. So, this given me an impression that you analyse based on vague information and not his actual details. When you didn't even ask him on the essential question

8. So based on this, you know his actual figure on his bonus and allowance?


What's his other debts?
As far as I know, you didn't even question and you gave him a range of max loan eligibility already.

9. So, as per what you have written in reply to him/her, Your estimation is of accurate? You didn't even factor in his other debts and with his vague income information.



10. All I can say is, my terrible mistake in not removing the default loan tenure year in my table (Which is obsolete as the age factor haven't even add into the analysis calculation) My bad for not explaining well on my table functionality, I will do better next time Mr life balance.

This post has been edited by Madgeniusfigo: Mar 6 2016, 11:06 PM

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Dear,

1. This is important, I wouldn't want my articles written with effort and hardwork and then being posted by random others without my consent or cite, and took my hardwork for granted and make it his/her.

It's an intellectual knowledge.

Hope you take this matter seriously, and not taking it lightly from how you reply.

2. Don't take this the hard way. I'm just advising and protecting others intellectual property.

3. Hope next time, you can improvised and add on value to this content and articles of others and make it more interesting and informative. Just remember to cite the AUTHOR.


This post has been edited by Madgeniusfigo: Mar 6 2016, 11:12 PM

I shall not continue further since nit picking isn't my cup of tea.

Well..... plagiarism is nit picking... since you put it this way.. well.

Just hope you give more quality advises regarding mortgage to the netizens here.

Hi guys,

I have a question regarding interest paid during construction period of a certain property.

Let's say this bank has released a RM10,000.00 progressive payment to the developer. So I will need to start paying the interest already monthly until the next progressive payment is made.

My question is, for flexi-home loan, is it possible to dump in 10k into the account so that I will not need to pay the interest?

Can I do the same for islamic or semi-flexi home loan?

Thanks!

You can't do that actually during progressive payment. I understand that you are trying to reduce interest by dumping in money and save up the interest. But the bank will not allow you to do so because your loan is under Islamic. If it's conventional loan then no problem under flexi loans

This post has been edited by lifebalance: Mar 8 2016, 02:45 PM

Even with full flexi loan also cannot?