Dear Figo,

Thank you for the advice.
Cracking my head on this. Thinking whether to use my EPF to knock off half of it or not. Does EPF allow to pay off the debt partially or have to be fully only?

You can use EPF acc 2 to pay off one lump sum or instruct PTPTN to deduct monthly from ur EPF acc 2.

Dear Lifebalance,

Thanks for the info.
Will go check it out at PTPTN office soonest...

Another quick question, for mortgage loan on those completed / subsale units, can it actually has deferred period as well? Say I just wanna serve interest for the first 2yrs, and start paying principal in the next 30yrs?

Hi,

So far bank no longer such scheme for completed properties, only during the undercon period.

I see, too bad.. tot wanna get 2nd property soon but current cadh flow not enuf to support.

If a condo unit still under Master Title after 15 years completion, which banks can offer loan?
Now still in process to get Strata title. JMB said next year should be able to obtain..

always make sure you have enough cash in hand, otherwise later can't afford to pay the legal fees and you'll be stuck. You can refinance any existing properties if you need some extra cash flow down the road first.

if master title more than 15 years very few banks will do it.

If the developer is not bankrupt then it's still good to get loan for the property.

Unfortunately, the developer bancrupt ady..

check whether there's another developer takeover the project or not..

confused with mrta already la...

very difficult. unless government has assigned a specific developer to take over

The is a liquidator in fact. Now applying for Strata Title. JMB said should get next year. Now in the final stage..

i have a quick question regarding financing the mortgage insurance.
can mlta also be financed into our housing loan? i know mrta can.

if financed into housing loan means the interest will be the same rate as the housing loan right?

Mrta can be financed under bank loan

Mlta cannot be financed under loan.

Dear tryifelsecatch,

1. You are right! MRTA able to be finance into the loan amount

For MLTA, yes, certain banks do allow you to finance into the loan amount. Certain Banks.

2. Nope!

Example: (Below figure illustration is fictional, for illustration purposes only! haha)

a. Normal
Rm500k loan/ 4.5%/ 35 years

Installment would be Rm2200

Total interest charge would be Rm410,000

b. Finance either mlta or mrta Rm10,000

Rm510k loan/4.5%/35 years

Installment would be Rm2250

Total interest charge would be RM450,000

- Interest would be higher if finance any extra amount into the loan!

Dear cclay,

For my advices

1. Master title more than 10 years, usually not many banks would finance the property, or there isn't any bank at all that would do so, except:

a. There is currently a big developer taking over the project

b. The strata title is in the applying process

If the above a and b happens, there's a silver lightning for the loan to be financed and approved

Dear WahBiang,

1. Nope, there isn't such a scheme for subsales property.

2. For subsales, you will have to serve the full loan amount right after first disbursement, when new bank had paid of the outstanding amount to the old bank.

3. If you purchase undercon property, and the property takes 2-3 years for completion, in the 2 - 3 years meantime, you would be paying only interest to the bank.

4. Conclusion, only undercon property allows you to serve interest at first before full loan installment kicks in.

I am not sure if there is any developer taking over the project or not. Let me spill the beans, the condo name is Desa Kiara.

I think the liquidator has been applying for the strata title for few years now. Yes, it takes long time...