Sorry forgot to mention it to you. You can do this if the loan is flexi and under conventional loan. But you can't do this if it's an Islamic loan.

Dear,

1. This only be done by people who had big cash flow.

2. Yes, you can dump in RM10K into the account so that no interest will be paid. But not every bank allowed you to do so, May I know which bank is your loan currently under?

For more accurate answer, do call the bank customer service.

Not every bank allows you to do so, careful with certain advices you receive here in forum though....

Thanks for your reply, and calculation.

That ASB figure is average monthly, right? so RM1600 is basically capping of 80% from RM2000 monthly?

Sorry didn't get you

Basically the Asb has 24k inside. 8% would be 1920 and divide by 12 months so it'll come to 160 per month

Thank you so much for your calculation. Appreciate it

a) Allowances: this one is too minimal.. too lazy to claim. Last year I only claimed RM220
b) No OT
c) Sales Incentives: 60,000. Bonus: RM8,300
the above figure is gross for 2015. I joined the company mid 2014, so no performance bonus in 2014 since I was still under probation.
d) No Contractual Bonus
e) initial borrowing for shoplot loan: RM80,000
f) No Personal loan. No Car Loan. My monthly spending bill for CC is normally around RM350 or lower

I noticed you put RM800 for ASB Dividend.. is that the prudence scenario for bank to recognize only 40% of the average monthly dividend?

Opss sorry to confuse you. those 24K is the annual dividend that I got, for 2014 and 2015 respectively
My cash saving in ASB is RM360K

oic, then I will calculate it as RM2000 then.

The loan would be
1.1m with shoplot loan settled
1.0m with shoplot loan remain.

Dear AIA,

I am quite confused. If the new launched property with a value of RM 258,000 with developer agree to give Free SPA, how much remaining fees I need to give from the S&P signing stage to bank loan acceptance period? Could you show me the calculation? tq

Hi michelle

If the developer only gives out free SPA. The other fees you need to borne would be the 10% downpayment for the property which is rm25,800 and also the loan agreement fee which about 3-4k which you have option to finance it into the bank loan.

This post has been edited by lifebalance: Mar 9 2016, 09:54 PM

Hi, if i have a property without loan, and I want to mortgage it, would I get 90% of MV because I don't have any other property loan or is it still 70%? Thank you.

Hi henshin

The term is called refinancing. I have to find out whether do you have any other property in hand which is still under housing loan. As long as you have more than 2 housing loan at the moment. You can only refinance up to 70% for the 3rd property.

Otherwise if not, you are able to refinance up to 80% of the MV

Feel free to let me know so I am advise you on the best refinance package.

i notice that my loan has not been signed. however i have signed the SPA which the developer said the condition of cancel project under construction is forfeit 10%.

however I know the developer has long for the my unit too, but wont consider waiving the 10% penalty.

is there any other way i can convince the developer ?

since SPA already signed and stamped, any complication with land office ?

If that's the case, why are you delaying to sign the loan ?

You will need to negotiate with the developer, just tell them that look I can't afford to pay the 90%. You will need the money to sustain, just let me off with my 10% and you can get another buyer.

Otherwise, you can try to get someone to buy over ur unit. Convince the developer that you have another buyer for this unit and can afford the 100% purchase price.

The 10% is not a problem as I am ready for it. Loan agreement fee is it the one stated Stem Duty with first rm 100k charge 1% and next rm 400k charge 2%. So is about RM 2160. I heard first time buyer entitled 50% rebate. Is it true?

Hi,

The 50% rebate is upon your MOT as per budget malaysia 2015.



This fee is only applied to your S&P Stamp Duty so since the SPA is borne by the developer, it wouldn't influence you in anyways. You won't be getting any direct rebate from ur developer.

How about the lawyer fee?If free SPA still need to pay Lawyer fee?What the bank officer told me I can try to nego with lawyer to ask for the fee discount. It is true that we have the right to ask for discount?In my case, lawyer fee calculated is Rm 2256.

Lawyer's legal fees not affected by the MOT discount.

You may ask for discount but it's prohibited by Bar Council Malaysia. So you pandai pandai la.

This post has been edited by lifebalance: Mar 10 2016, 11:44 AM

er guys... I recently got interested in a property which is classified as a commercial lot due to the shoplots on ground floor.

The developer offers a 15% discount and all I need to do is to pay a RM1000 booking fee and get loan.

So I got the sales person in the showroom to have a bank representative to get me a loan.

The agent got back to me and told me that the property is classified as commercial lot, therefor the interest rate is higher (4.7% - 5%+).

I thought commercial lot only means utility bills = higher? Loan also different?

If the title is under a commercial title, then the loan will be based on commercial rate and standard. Tenure will also be reduced to 25 - 30 years depending on the bank. Borrowing margin will also be lower.

Interest rate will depend on your credit scoring in the bank system and the loan amount you're taking with the bank.

Normally lesser loan amount = higher interest rate. Vice versa.

This post has been edited by lifebalance: Mar 10 2016, 01:50 PM

Dear,

My bad for not replying to you message quick, hence you got confused with other's replied to your question. Had been attending events for recognition.

1.
Fees that you need to pay when getting a housing loan:
a. legal loan fees
b. legal spa fees
c. MOT
d. Stamp duty loan
e. valuation

When developer gave free SPA legal fees. The remaining fees that you need to pay is

a. legal loan fees around RM 4-6K
c. MOT AROUND FEW thousand
d. Stamp duty loan around few K
e. valuation around RM600-800

2. First time house buyer are entitled for 50% stampduty discount

3. Booking form of the developer usually will state whetehr the SPA legal fees is covered by the developer itself.
WHen Legal fees SPA is covered, you don't need to pay for it but the rest as stated in answer 1.