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Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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cfa28
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 Jul 7 2015, 10:55 AM
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QUOTE(marcusboy @ Jul 6 2015, 11:22 PM) Hi all, I need done advice. I bought an apartment for 420k. Looking for loan now. Loan officer from MBB told me must have MRTA - minimum is 5 years. Can I ask there are no charges for semi flexi? What is best interest for MBB now? HSBC loan officer said no no need to pay legal fees and stamp duty - bank cover? Or maybe included in loan but interest is 4.55%. Any advice for best interest rate in town? MRTA is strictly OPTIONAL and if the Bank dare to say in B&W that you must buy MRTA, please lodge a report to BNM. Buying 5 yrs MRTA only benefits the agent selling the MRTA and of course, the Bank and Insurance Co. That said, banks can quote a lower rate for those ppl buying MRTA. And I do recommend ppl to buy MRTA for own stay properties, but 5 yrs MRTA is total waste of money unless you plan to pay off your loan in 5 yrs |
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cfa28
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Jul 11 2015, 01:52 PM
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QUOTE(ckyow1 @ Jul 11 2015, 01:31 PM) Hi, I bought a under construction property recently and got my Lon approved from RHB bank. When I read the terms & conditions from the bank letter offer today, I found out there is a term stated fire insurance is compulsory. The banker didnt mention anything about this during signing the LO. May I know when should I start paying this and for a 400k loan, under construction and will be completed around 2017. how much will be the amount? It is payable to bank or? Do I need to pay on monthly basis or yearly. Thanks you. Only compulsory insurance is Fire Insurance in the property after handover... However if you buy a condo, the JMB will also buy insurance and you just need to show a copy of the JMB insurance and your financier will not charge you again for this Fire Insurance. But check to see cos some loan agent tick MRTA for you but you can see immediately there is additional MRTA Loan which you can decline. But for own stay, MRTA is recommend. |
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cfa28
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Jul 12 2015, 10:07 AM
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QUOTE(Lcclcc @ Jul 12 2015, 01:23 AM) Dear Sifus, I am planning to purchase a property under my wife's name(China Nationality) at around RM1million. I have been checking around with banks and was told that most the bank do not approve house loan for foreigner under the current tighten scenario. I just want to verify if this is the correct situation or any sharing? Thanks a lot. Is your wife working for famous MNC, PLC, Banks How many years has your wife working in MY Any credit track record Do you have kids, etc All the above are typical checks for foreigners applying for loans in MY Typically for mortgage, the flight risk is reduced by giving a lower loan to value ratio. You might not get 90% financing. But let's see what our agents say. Just giving view as a finance person. |
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cfa28
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Jul 12 2015, 10:17 AM
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QUOTE(ims2628 @ Jul 12 2015, 10:08 AM) Depends location for KL need above 1 million, Selangor mostly need above 2 million and foreigner can approve but loan margin very low maybe 50-60% Wow, so low. Thought maybe cut to 70%. Honestly at 50% financing, even retirees can get loan approval. Got some retired friends doing freelance / PT work, buy million .RM house at 50% financing cos DP fom EPF. Bank more than happy.to approve, but only for good locations. Cos if cannot pay. Bank confident of recovering through auction. This post has been edited by cfa28: Jul 12 2015, 10:18 AM |
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cfa28
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Jul 14 2015, 05:46 PM
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QUOTE(ims2628 @ Jul 14 2015, 05:20 PM) below 1 mil? foreigner can buy? Iskandar is not covered under the budget proposal that foreigners can only buy above RM1 mln ruling as Land is a State matter. Johor state has not adopted and probably never will adopt the ruling for Iskandar. |
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cfa28
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Jul 22 2015, 11:35 AM
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QUOTE(irving @ Jul 22 2015, 02:42 AM) looking for a agent to help me finance an investment in PD. so the question is which bank should I choose? giving chance to any agents in here which can help me out. thanks! Bro, if you are investing in PD Property, believe you are attracted to the so called GRR or Guarantee Rental Returns of xx%. Please remember such GRR comes with T&C attached and many ppl have gotten burnt in the past. So caveat emptor. |
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cfa28
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Mar 25 2016, 05:05 PM
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QUOTE(Madgeniusfigo @ Mar 25 2016, 03:29 PM) QUOTE(lifebalance @ Mar 25 2016, 12:29 PM) Dear, Yes, This I agree. Actually there are clauses in the Loan Agreement that allows the Bank to increase the spread at any time without assigning any reason. |
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cfa28
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Jun 23 2018, 05:46 PM
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QUOTE(WahBiang @ Jun 23 2018, 05:38 PM) Yeah, to be amortised over 5 yrs with some sort of rebates.. End uo may pay less than 20% Make sure you can afford to pay all your combined loan instalments and also to buffer in unforseen emergencies. |
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