My loan with UOB for 1.5M for 31 years is currently 4.36%. Think its worthwhile the hassle to try and refinance on a lower rate?

Hi guys, recently placed a booking fee to purchase a subsale property.

Signed letter of offer to purchase that made by the seller himself and paid 1% booking fee. There is only one clause in black and white which is as below
It’s been 7 working days and my loan has some queries so it’s not approved yet. If seller change of mind, would I get any compensation? Because seller is pushing me to expedite the process as more potential buyers are waiting.
And if indeed it’s been 14 working days, would the seller refund my deposit if he release the house to other?

Thanks in advanced

Thanks for helping, lifebalance! It this eventually legal as it's just letter that made by himself and there is no clause to compensate me if he out of nowhere change of mind within the 14 working days

Hi, I want to check with you, my wife is earning RM10k gross income, and would like to know how mush she can apply for house loan under her own name? I cant be her joint applicants due to over quota..

If I'm taking a RM500k loan for with a tenure of 35 years, would it be advisable for me to opt for an MRTA which is RM400k at 20 years to save on premium? I do plan to settle the loan within 20 years. I was wondering if I took on an MRTA of RM500k at 35 years vs RM400k at 20 years, what will the saving be like?

Currently, I plan to take MLTT for 10 years. Within these 10 years, i may opt to find either takaful Hibah or any life insurance policy to cover the remaining years. Is it a wise choice like this?

Thanks for help lifebalance and just a little update for this problem.

My 14th working days to sign SAP is due by tomorrow and I just submit my sibling as co loaner to appeal for house loan. But seller said if by tomorrow I don’t sign the SAP, he will just forfeit my earnest deposit and open to other for booking..

Any advise on this? Thanks in advanced.

I am planning to buy a dubsales landed. The agent recommends me to use mortage banker /those so called banking agents
Should i use their service?
Or i should approcah bank directly?

Hello guys, is it that seller need to pay to lawyer firm again for snp agreement? Or as a seller we no need pay any single cent?

Thanks in advanced

Hi Sifu,

May I know if the housing loan that has been previously signed is at BLR -2.0% in year 2010, is it worth to refinance? now paying about RM2.5k+ per month.

For example my original loan amount is RM390k, but how come after paying installment for 13 years already since fully disbursed, the outstanding balance is still about RM320k outstanding? Is it because haven't reach the break even point, whereby the interests portion are bigger in the beginning, then later will be more on principal? or I got a really bad deal?

If refinance RM320k for like 17 years, how much do I pay for current interest rate?

Pardon me, dumb question here as a noob.

For Islamic loan, can I topup the PRINCIPAL amount extra a bit, monthly to reduce the principal amount?

Something like a semi-flexi loan. Can I? Or it's not even being allowed?

Thank you very much, lads here.

Noob question here - For the progressive payment schedule, is the amount based on the SPA amount or the loan amount we applied from the bank.

Eg: SPA price is RM400K and loan amount is RM360K (90%). So lets say the current construction stage is where we have to pay 10% progressive interest, the interest for that 10% is based on RM400K, or RM360K?

Hi guys,

I’m buying a new property, join name with my sister:

This is the initial detail

House price: RM885,000
80% loan: RM708,000

Therefore, down payment: RM177,000
Legal fees & stamp duty: RM39,000+-

Total preparation needed: RM216,000
Questions: is the legal fees and stamp duty expensive?

I dont have the interest rate at the moment

Hi sifus,

Recently looking to buy my first house, a PR1MA unit for 250k.

So far I only applied to the 1 of the 2 panel bankers and got a loan offer from Public Bank (Islamic), the other panel Maybank's quota is full for this project.

Approved amount : RM225,000 + MRTT/CI RM11,806 = RM236,806
Interest rate: SBR+1.0 = 4.00%
Tenure: 35 years
Installment: RM1,050

Got a few questions that I would like to as for further advice

1. Islamic vs. Conventional - Based on my research and talking to bankers, other than more expensive documentation fees (due to more documents, but doesn't matter to me currently as the developer will cover this) it's mainly just upsides like no lock in period, capped max interest and no compounding on late payment interest, is that right? Any other pitfalls that I should look out for?

2. Semi vs Full Flexi - Was advised by banker to take semi flexi instead of full flexi due to:
    - Full flexi has a monthly fee (RM10 per month)
    - Full flexi interest offset is capped at 70% of current account balance while there's no cap for semi flexi (based on my understanding, i.e. I have 100k in the account, can only offset up to 70k worth of the 4% interest)
    - Semi flexi withdrawal is now more optimized, don't have to go to counter as can apply online, but RM50 withdrawal fees still apply
I was planning to go for the full flexi at first until I heard about the limitation.

3. I was also told that this is the current best rate (4.0%) for projects under RM300,000, with the condition of taking up their MRTT, is this correct?

4. Any other banks that I should look out for to apply for their mortgage loan?

Hi everyone,

Just a quick question.

Planning to purchase a property and the interest rate offered right now by Bank Islam is at 3.9%. Is this rate okay? Considering the fact that there could be changes in the OPR in the future and it could increase slightly.

Thank you in advance.

Hi Sifus, would like to ask for prelim advice. I have a mortgage ~550k at 4.75% for 35 years. I'm approaching the end of my lock-in period, hence seeking refinance options to get a better rate. What's a good rate nowadays? I'm currently on BR instead of SBR, not sure how different it is. Additionally, what are the refinance costs like? (e.g. any legal/stamp duty fees/valuation fee?) Thanks in advance!

Hi guys,

Just wondering , any of you guys successfully used rental income declared as earned income by the bank for another housing loan ?

If yes, typically how many months/years rental income is the “wait” or “acknowledge” by the bank to be as income to increase the DSR ?

Thanks 🙏🏼

I need some clarifications. Im trying to buy a house, so what i’ve done is of course through the agent try to look at few banks to apply for loan. So few banks have come back and say can for the loan. But then i changed my mind, want to go for another project/house and cancel the first one.

So i went for the other project/house, go through the same process through another agent went through few banks for the loan.

I checked my ccris in the midst of cancelling the previous house pending loans, Bank A status for the first house is “Pending client acceptance”, while Bank B status is “Approved by FI”.

My question, i think bank A no issue can cancel straight away. But for Bank B, does that mean the banker has forged my signature in accepting the loan offer? For information, i have not physically meet and sign any of the loan offers for the first project.

Hello everyone,

I recently made a significant investment by purchasing a property, and I'm seeking some advice regarding the possibility of applying for a mortgage. Here's my situation:

I entered into a Sales and Purchase Agreement (SPA) as a cash buyer for a property priced at 1.4 million. At the time of signing the SPA, I paid 800,000 towards the house. Now, I'm contemplating whether it's feasible to apply for a mortgage to cover the remaining balance.

I'm wondering if anyone has experience or knowledge about such scenarios. Can I apply for a mortgage despite initially committing as a cash buyer? What are the potential challenges or considerations I should be aware of? And if it's possible, what would be the general process for applying for a mortgage in this situation?

Any insights, advice, or personal experiences would be greatly appreciated. Thank you in advance for your help!

I asked the banker and he is not answering directly, trying to cover it up.

So i asked him to cancel the application so that i can apply for another loan without it affecting due to compressed loan issue but it took one month he said. Other banks that i have applied straight away cancel and remove in ccris hence why i believe he already accepted without my consent.

In this case, should i report to the bank and BNM? This is causing issue for my loan application

so nobody can help if branch manager turn a blind eye?