50/50 chance

bank A will hold on the loan until you do so.

Based on your describe situation, 90% margin can be done.

The example above is just a poor sales person. Just use a different banker problem solved.

You can engage your own banker or mortgage brokers

4% - 4.2%

Yes you need to sign the LO first.

Mortgage broker can help you sort all the loans in one stop.

If you prefer to apply one by one, then go to each bank door step to ask for the bankers

Nope, doesn't work that way.

Some banks will take as equal split, some others as full commitment.

Banker is correct.

No, you'll only be able to loan 70%

It's called a refinancing.

can, as long as you have less than 2 housing loans

depends on that 1 person's income, if can take up on the entire commitment, why not?

yes of course.

Yes correct

Whether to withdraw money from the Employees Provident Fund (EPF) to put into a mortgage loan account depends on your individual financial situation and goals. Here are some things to consider:

Interest rates: The interest rate you are paying on your mortgage loan should be higher than the interest rate you are earning on your EPF account. If your mortgage loan interest rate is higher, it may be financially beneficial to withdraw money from your EPF to reduce the loan amount and save on interest.

EPF balance: If you have a significant balance in your EPF account and withdrawing the money would reduce your retirement savings, it may not be the best idea. Your EPF account provides long-term financial security, and withdrawing money early can negatively impact your retirement planning.

Loan repayment period: If you have a long loan repayment period, it may not make sense to withdraw money from your EPF account. It is because the interest rate earned on your EPF account over the years could exceed the interest paid on your mortgage loan.

Repayment capacity: If you plan to withdraw money from your EPF account to repay your mortgage loan, you should ensure that you have the capacity to repay the loan. Defaulting on your mortgage loan can negatively impact your credit score and financial standing.

In summary, the decision to withdraw money from your EPF account to put into a mortgage loan account depends on various factors. It is advisable to seek the advice of a financial advisor to determine what is best for your unique financial situation.

This post has been edited by lifebalance: Mar 17 2023, 10:19 AM

That just means the seller is selling it overpriced.

If you really like that property then prepare to fork out the premium.

Pay a valuer to evaluate the property. You may need the owner's permission.

1. Only loan agreement, SPA still need to pay by yourself.
2. normally 90%
3. Depends, sometimes got promo, sometimes just like a normal loan rate. The promotion comes on and off.
4. Pay whatever that is required for upfront and balance by loan.
5. Zero moving cost may or may not have a longer lock in & interest rate depending on the package offered at that point of time. Bank needs to recover cost in some other ways.

Regarding the mortgage loan amount, it is true that lenders typically prefer to offer loans on properties with longer lease terms remaining. A leasehold property with only 50-60 years left may be considered less desirable as the value of the property may decrease as the lease term gets closer to expiry.

In terms of the percentage of the mortgage loan that a bank will offer, this can vary depending on many factors, such as the lender's policies, your financial situation, and the property's value. However, it is possible to obtain a loan of up to 90% of the property's value, but this will depend on the lender's criteria, the property's condition, and your financial circumstances.

Regarding renovations, it is possible to increase your mortgage loan to cover renovation costs. However, this will depend on the lender's policies and the value of the property after renovation. It is also worth considering that if you are unable to obtain a high loan amount due to the property's shorter leasehold, it may be more challenging to secure additional funds for renovations.

Before making a decision, it is advisable to seek professional advice from a financial advisor or mortgage broker who can assess your individual circumstances and provide guidance on the best options available to you. They can also help you understand the potential risks and drawbacks of buying a property with a shorter leasehold.

Regarding your first question, it typically does not matter which physical bank branch you go to during the loan application and signing process. However, it is always best to confirm with the lender beforehand to ensure that you have all the necessary documents and information.

For a semi-flexi loan, you can usually make deposits or withdrawals from any bank branch that offers the loan product. However, it is advisable to check with the lender beforehand to confirm their policies and any potential fees or restrictions.

Choosing a closer branch for the loan agreement may be more convenient for you if you need to visit the bank for any inquiries or if you prefer to have face-to-face interactions with the bank's representatives.

To identify whether a loan product is a semi-flexi loan, you should check the loan's product disclosure sheet, which should contain information about the loan's features, including whether it is a semi-flexi loan. Alternatively, you can contact the lender or check their website for more information.

If the property is under both your name and your girlfriend's name, then she may need to apply for a third-party loan if she wants to contribute to the loan. This means that she will need to provide the necessary documents and undergo the bank's credit check process, which could potentially affect your loan application. It is advisable to check with the lender beforehand to confirm their policies.

Regarding your other questions:

It is advisable to provide the necessary documents, including the vendor's house title and latest assessment, to your lawyer to ensure that they have all the information they need to prepare the draft SPA. This could potentially increase the chances of your loan application being approved. However, it is always best to confirm with your lawyer why they are requesting these documents and how they will use them.

The loan approval process can vary depending on the lender's policies and the complexity of your application. Typically, it can take anywhere from a few days to several weeks for your loan application to be approved. Factors that could delay or speed up the process include the completeness of your application, the lender's workload, and any potential issues with the property.

The number of days you need to take off work will depend on the lender's policies and the complexity of your application. It is best to consult with your lender and lawyer to get a better understanding of the timeline and what steps you need to take.

The loan application process typically involves the lender checking your documents and conducting a credit check to assess your creditworthiness. Depending on the lender's policies, they may also conduct a valuation report to assess the property's value. However, the exact process can vary depending on the lender and the complexity of your application.

Based on the information provided, it seems that you have a housing loan with a property price of RM240,000, a down payment of RM24,000, and a loan period of 30 years. The interest rate in 2010 was 4.25%, and you are currently in the 13th year of the loan.

According to the information provided, your current monthly repayment is RM1,062, but you are paying RM1,300 per month. If you increase your payment to RM2,600 per month, you can save a significant amount of interest and pay off the loan faster.

To calculate how much you can save on interest, you can use a loan repayment calculator that allows you to enter additional payments. Assuming you started paying RM2,600 per month starting from the 13th year, you can finish paying off the loan in about 18 years, which is 12 years earlier than the original loan period.

By paying RM2,600 per month, you can save approximately RM118,000 in interest over the life of the loan compared to paying RM1,300 per month. This is a substantial amount of savings that can help you pay off your loan faster and reduce your overall debt.

However, it's important to note that paying more than your required monthly repayment can affect your overall finances, including your ability to save for emergencies, invest, or achieve other financial goals. Therefore, it's important to evaluate your financial situation and priorities before deciding to increase your monthly repayment.

In summary, increasing your monthly repayment to RM2,600 can save you a significant amount of interest and help you pay off your loan faster. However, you should consider your overall financial situation and goals before making any changes to your loan repayment.