Dear,
1.
If you have EPP RM12k, your credit card debt calculation should based on 12k 5%.

However, to calculate 5% for the credit card debt, the epp amount should shown in ccris outstanding figure.

Because 5% debt calculation will based on the outstanding only.

But, some bank would update monthly for the epp, some bank would update full amount of the epp into ccris outstanding.


Hence, answer is very subjective, where different bank will have different method policy to update the epp outstanding.

2. Just check ur ccris, the ccris outstanding debt ccris5% allotment will be ur credit card debt calculation.

Cheers

Dear,

1. If you chose to stay in the property that you purchase. It will be better off not totake zero moving cost. Because in the long run 35years, the total interest charges would be higher than normal conventional loan.


2. If you chose to flip or sell in the near future, taking zero moving cost would be a wise move.

3. If you are very risk averse in terms of the interest rate fluctuation, it would be best that you take AIA fixed rate loan. As this will give you a peace mind.

4. However, most of the banks would allow you to finance legal loan fees or valuation into the total loan amount. Whereby your initial entry cost would be less as you paid it in installment throughout your loan tenure.

5. You could also take Islamic loan, with no lock in period and finance legal fees into your total loan. You can flip your property anytime in near future.


To conclude, there's lots of options in terms of loan package. I need to sit down with you, understand your needs and objectives, only I could provide the best solution and best package for you.

Anything feel free to contact me.

Cheers

Thanks!

In order for me to advise you better on what your long term plan is instead of just telling you the loan packages that the bank offers, it would be much more advisable to meet up with you and see how I can plan for your mortgage so that you can get the most out of your planning for your future purchases.

Do let me know when we can meet to talk about it otherwise can give me a buzz for further evaluation.

Dear
Hope that it helps, cheers.

I have some questions regarding house loan,

My name is not in the S&P, but during refinancing, my parents put my name together with the loan as the first name (I think this is a third party loan?), is it still consider my first house?

and can I do a new loan for that house that will have a new S&P with my name on it? (like I'm buying over the house)

Thank you.


Got this from another thread:

SPA = A,B,C
Borrower = A,B,C
1st party charge

SPA = A,B,C
Borrower = A,C
3rd party charge

SPA = A,B,C
Borrower = D
3rd Party Charge

but I think my situation is like this:

SPA = B,C
Borrower = A,B,C
3rd Party Charge?


This post has been edited by ClessRV: Apr 5 2016, 01:34 PM

Hi

Since your name didn't appear in the spa and Title charged to the bank. You can still entitle to get your rebate for your first property for stamp duty.

Thanks for the respond, I am trying to buy over the house, and the current market price is around RM400k-RM450k, is it possible to make a full loan (or 90%) and cover all the previous loan? Given that if I am eligible, will the previous loan affect my application?

You will be affected in the loan side since you share the commitment in this existing property you refinanced under 3 person name. Banks will perceive you share 1/3 of the commitment.

Please let me know these details to check on your eligibility

Age
Gross pay
Nett pay
Rental
ASB
Bonus 2 years total

Commitment monthly
House
Car
Personal loan
Credit Card (outstanding)
PTPTN

This post has been edited by lifebalance: Apr 5 2016, 03:00 PM

wow, seriously 1/3 of the commitment ??
So, let say 3 people with RM 6,000 RM 4,000 and RM 5000 join in to pay a mortgage of RM 5000 monthly..
Shouldn't it be more proportional? like RM 2000, RM 1333. and 1667 respectively..

The bank you applied for the new housing loan wouldn't know how much each of you are earning, they will just assume it as 1/3 for 3 different borrower. Some banks will literally treat it as 100% loan commitment for each individual instead of 1/3.

This post has been edited by ClessRV: Apr 5 2016, 03:39 PM

Age - 31
Gross pay - RM4.9k
Nett pay - RM4.4k
Rental - None
ASB - RM60k
Bonus 2 years total - RM2k? (Gov)

Commitment monthly
House - RM1050
Car - None (Settle)
Personal loan - RM568/m (RM48k outs)
Credit Card (outstanding) - RM11k (but can be settle using my personal loan, still have some leftover)
PTPTN - None (Settle)

Assuming your housng loan under 3 ppl is 1050, each will be RM350. CC is about 550 per month. Total commitment is about 1468 per month

ASB 7% is about 4200 per year or 350 per month.

If you don't settle off your credit card. Your loan amount you can borrow is RM480k or purchase price 530k

Should you pay off your 11k credit card debt, you can loan up to 590k or purchase price 650k.

Feel free to whatsapp your details

Thank you very much, I assume that you are based on the AIA loan?

Nope, I'm basing on normal bank rate loans e.g RHB/MBB/PBB/CIMB. Unless you prefer to get fixed rate loan then I will apply under AIA loan.

Dear,

1. To my understanding, they added you into the borrower because they needed your income to secure their loan approval.

Meaning to say, your CCRIS now consist of mortgage loan.

and yes, it's consider as 3rd party loan.

2. Based on your rough details:

Dear,

1. Based on the details given by you, Your max loan eligibility for each bank is as follow:
Rm
AMBANK 165,031.11
HONG LEONG 379,326.94
MAYBANK 250,749.44
OCBC 165,031.11
RHB 293,608.61
UOB 207,890.28
CIMB 165,031.11
AFFIN 336,467.78


"2. The best bank to get the highest loan would be HLBB and RHB. However, each bank has it's own ball game
Different bank will calculate your income and debt accordingly based on each bank's different policy. Hence,
I would need to do a due diligence on your profile before suggesting the best bank to proceed with."

"3. I would need to check you CCRIS, CTOS and income documentation before giving you any assurance.

If everything goes fine, 90% shouldn't be a problem for you."




3. Purchasing RM400K property is still possible,


4. However, to my concern, your credit card outstanding is quite high, the utilisation should be 90% or higher consider ( outstanding/creditlimit). May I know what's your credit limit and outstanding for each of your card?

Cheers.

Dear,

Yes, however, this must be prove by providing the loan agreement.

hi all sifus, if my ccris got ptptn, already many months didt pay, any ways to settle to get housing loan, thank you

2 ways

1. Settle the outstanding

2. Get a restructure letter from PTPTN

Then your problem is solved. If need detailed, feel free to text me

Dear Time Walker,

To settle PTPTN issues, there's 2 ways:

1. Visit a PTPTN centre and ask for PTPTN debt restructuring, they will help you restructure your payment for the debt. However, you would need to pay off a certain amount of the outstanding loan, before they allow restructuring to take place. After that, they will provide you a letter of restructuring, 4 pages. Bank will calculate your installment based on the payment stated in the letter.

2. Visit PTPTN centre, and settle the outstanding amount. After that, they will provide you a letter of settlement.

With above methods, will enable your loan to approved, given that PTPTN is the only obstacles.

Cheers