Is anyone having bad experience with MBB full flexi housing loan? I'm interested.

What kind of bad experience ?

It can't be done as the property is still yet to be owned by you. In addition, tenant may move out at anytime hence there is a risk to the bank take in consideration of rental income.

What bad experience are you referring, in terms of loan package, banking facility or customer experience?

Dear,

1. Well, does the rental income credited into your account or the owner's account? If it's the owner's account, definitely it isn't yours. Hence, you can't use other people's supporting income to increase your loan chances right?

2. Your question is quite confusing, you said seller gonna rent back to the new owner, hence you haven't purchase yet, where will he get that rental agreement?

CHeers

Dear,

1. MBB full flexi is troublesome though, it's not alike any other full flexi..

Cheers

He wanted to sell me and then enter a new agreement wi5 me that this property will be rented to me ...

Dear,

1. Bank doesn't work that way.

2. You are paying that rental income, not receiving it. Hence, how will it be an income to you

3. bank will look at it as a debt

4. It doesn't work that way.

CHeers

As for now the bank don't look at this way. Otherwise everyone would use this against the bank system and over borrow as they would ride on the rental as extra income which is unrealised yet.

The bank cannot take in uncertainty

Well, i meant everything. From the features, hidden charges, rates and customer service. I'm particular concern in their full flexi.
What troublesome is that?

Wrong info

Rent back to him

MBB full flexi is abit different in terms of calculation compared to the other full flexi loans out there. As you pay more, the monthly installment that you need to pay per month also reduces as well and each month installment might differ unlike other bank loans where the installment amount will be fixed and any extra repayment will reduce the loan tenure.

In terms of rates and hidden charges, not much.

Customer service experience differs from 1 person to another, depends on ur luck.

But otherwise, it's pretty straight forward like any other loans

Rent back to him ?

Sale and leaseback is common but happen more frequent in corporate segment. The lease / tenancy agreement does add value but you still need to satisfy the bank that without that you would still be able to service the loan as there are uncertainties as to the credibility of the tenant (which is the seller) and continuity of the tenancy. Even for corporate segment these risks are taken into account too.

[I]t

U are so good and can understand what I was saying.

Thanks.

Dear,

1. This is like leaseback agreement

2. Oh I see, well that's good. But, you can't use that as a income now to purchase this property. You can use this income for future property.

CHeers

This post has been edited by Madgeniusfigo: Jul 12 2016, 06:28 PM

That's what I've been trying to tell you.

You can't use the rental income you will be gaining from buying this purchase and taking over the tenancy to substantiate as an income to the bank for loan application.

But you may do so for the next property after this purchase.

Lol... I'm still a budak baru belajar... but it's not hard to understand.

So far, RHB provides best rate for full flexi. 4.35%, but don't know their customer service and loan disbursement speed? Anyone has good/bad experience with them?

Should be as per normal. How special you want the banks to do? The customers are treated equally and fair.

Dear,

1. You can try calling the bank service hotline to test whether their responsiveness and answer is up to your par.

2. Reviews are quite even from my side of clients

3. Disbursement speed depends on your lawyer efficiency.

Cheers