Dear

1. Usually you aren't allowed to change the package after you have singed the letter offer. However, if bank at that time having promotion or giving out happy meal, the clause allows you to do so, then you shall.

2. It depends on bank, certain bank chosing full flexi, your loan rate will increase by 0.05%, certain bank there doesn't charge you for the full flexi option.

Certain bank full flexi option is similar to semi flexi, hence be aware and know the actual package you are getting before signing letter offer

Cheers

Yes, but for business people, sometime they need money to roll
So flexi loan (either semi or fully) is a good option for them.

U got the money on hand and can be withdraw anytime, while at the same time reduce the interest

you got that spot on

Dear

1. If you have business and have huge cash flow very frequently, full flexible would be a good option for you.

Correct, that's what business man use it for.

Cheers

Folks, Just wonder if any banks are recognize for the part time uber income sdbsnk recognizable income when we applying for housing loan? If yes, can share the details of how much percentage of each bank recognize for such uber income into DSR when applying for the home loan. Thanks.

May I know after how many years is it best to refinance housing loan to another bank to save interest? And is it advisable on such move?

Thank you.

It depends on the amount of interest you're paying at the moment vs the moving cost which is the loan agreement fee that you'll be paying should you refinance it.

From that point you can calculate how much you can save by moving to another bank and how long you plan to keep the new loan.

Whether it's advisable or not depends on your own financial strategy. There is no hard and fast rule as everyone has their own strategy.

Will consider it like a sales position. Need 6 months income payslip and bank statement. But need to warn you upfront first that not all banks will accept uber as part time income.

It's considered like a taxi driver income.

Hi dear,

Yes you can but you need to provided at least 6months of bank statement.

CHEERS

Dear,

1. Uber's scoring will be low compare to other profession, because of instability and high risk factor to the bank.

2. Yes, the income can be considered as supporting income, just provide the 4 weeks payslips to the bank to justify each month income.

3. Usually if part time income, banks will take in 70-100% of the income, it really depends which bank you run through your loan process.

Cheers

Dear,

1. This is a subjective questions, before giving any appropriate answer, you need to give me few info before I can advise you on this, otherwise it's like shooting the moon with gun.

2. Details:

a. HOusing loan outstanding amount now
b. interest rate
c. property full adrress
d.market value for the bank right now, just get an estimation from i property will do for now
e. what's your objective?
f. Your profile:



Cheers

Hi guys,

I've recently submitted house loan application in four different local banks. I've recently joined a company and I've worked for 5 months. What are the chances of me securing a house loan if I'm still under probation?

Should be okay depending on your loan amount, property location and whether you have any credit profile like a credit card, if everything is too clean then might need a guarantor or a joint borrower, since you've submitted, then just wait for the banks to get back to you.

Didn't the bankers advise you anything when you submit the case to them?

This post has been edited by lifebalance: Jul 6 2016, 12:27 PM

I've recently settled my car loan. At the moment, I've no commitments. My DSR would be 56% if the applied house loan is approved. There are no arrears in CCRIS report for my car loan too. Recently one of the banks offered me the house loan, but the amount offered was higher than what I requested. So, I asked them to revise the offer letter. The banker said it is a risk since the loan was auto approved by the system and considering the duration of my work, it could be risky if I want to amend the loan amount. Is it true? The other three banks yet to respond to my loan application.

Not really a risk, you can still ask them to amend it. It'll be best to apply to the bank that you've paid off the car loan recently as they will still be able to see your record with them.

Thanks for your swift reply. In fact, the bank that has offered me the loan is the bank that I've settled the car loan. But, when I asked them to amend the loan to lower amount, the banker cautioned me about the risk. I'm clueless whether it is a business trick to force me to sign the offer letter or it is a genuine case of risk. Could you enlighten me on this?

Meanwhile, during the discussion with the other bank's loan manager, she was optimistic about my chances of securing the loan. However, they yet to reply me about the status of my application.

No such thing, normally if a loan is approved, if you're asking for a reduced amount rather than increasing the loan amount, the bank shouldn't have a issue on that. Unless ur DSR broke then of course you are at risk.

Dear,

1. if you just switched job and have first month payslips, no problem as you can proceed with the loan process with the new income.

2. 5 months working in the new company, it woudn't be a problem, can proceed.

3. Importantly, you able to provide justifiable income salary from your company, which is payslips and bankstatement showing crediting, then it's good.

Cheers

Dear,

1. Let me assume you purchase subsales property, and he got higher market value and straight help you proceed without letting you know. I can see there's this problem occuring from broker where they don't commmunicate well with clients before submitting the loan

2. Yes, you can ask them to reammend it given that the purchase price stated is lower than the borrowing amount you are getting, must give solid reason, if not bank will think you are trying to fraud their $$$.

3. Banker will be able to help you amend it, just that it will troubled them to reammend again and get scolded by their manager and credit controller for extra work. Risk for him, no risk for you.

Cheers

Dear,

1. As I have stated above just now.

2. Well, they have plenty of cases, or they missed out few essential details that cause the delay. Different bank has different turn around time, hence be patience and inform them on the amount you really want to borrow from the bank, to avoid same mistake again.

3. If the banker give you excuses of such risk, refrain from signing from him and wait for other bankers offer.

Cheers

Hi.

Currently having a full-flexi Islamic BBA loan from Ambank.
Quite confuse with the package since it shows the absolute amount which is a lot.

Monthly installment is 3k++ but I always throw in extra, easily 1k++.
So it should be reduce the interest and deduct the outstanding principal, just like conventional loan right?

Also if I plan to do early settlement, is there any hidden charges/difficulties?

Might plan to refinance if this loan package is not good.

Hi

I think that amount is the total amount after you take the loan and continued to pay for 35 years which is usually principle plus interest.

Ifyour loan is full flexi then when you pay for the extra, it will go toward the principle and thus reduce your interest payable to the bank

Depends on your letter of offer. Please check on the date you signed and what is the term for full settlement or prepayment which is refinancing it out.

Also will need you to let me know what's the current interest rate and how much is the loan amount left so I can calculate how much you can save once you refinance it.

Let me know again how I can assist you =)