Hi

As a first home buyer, you're eligible to apply for 50% discount for your stamp duty MOT

First, fill me in these info

Age
Gross pay
Nett pay
ASB income
Rental income
Bonus 2 years

Commitment
House
Car
Personal Loan
Credit Card outstanding
PTPTN

Any late payment for your loan facility in the past 12 months ?

I have two lines for the same property - both with HSBC.
- One is main loan
- Another is additional line

Can I merge both these when refinancing with another bank?

Yes

meaning to say

Main loan RM300k outstanding
Additional top up 100k outstanding

Refinance to another Bank, will become total 400k, if no extra cash out la. If got cash out would be 400k + XXX, the XXX cash out is not calculated as top up loan portion, it's extra cash out

you got PM sir.

Thanks for the advice.. As i check locking period ended last year.

Thanks

If that's the case then any banks still do full 3rd party loan? Meaning property name under myself and now loan refinance under my wife only

yeah still got, but not all banks do full 3rd party loan.

All the bank rush to reduce their effective lending rate. RHB will reduce again their rate...most banks having meeting tomorrow.

Dear,

If you currently have 2 property 2 mortgage loan, you sell off 1 property and buy back a new one. It will consider 90% margin of finance still.

1. FInd the right property
2. ASSESS your own profile by mortgage consultant before proceeding with any purchase of property, so you know atleast how much you are eligible for.


Cheers



Dear,

Yes it is.
When you get a loan, fire insurance is compulsory to protect the loss of the house.

1. When you purchase landed property, your fire insurance automatically purchase by bank, if you have request to get your own fire insurance, you have tonotify the bank. However, you need to show the fire insurance cert yearly to th ebank as prove that fire insurance coverage still valid for your property

2. If you purchase non landed property, usually you will pay fire insurance to your management office, as they will prepare the purchase of the fire insurance for the building

Cheers

Dear,

Most of the banks has slash interest rate, PBB,CIMB,HLBB etc

4.3% is by far the lowest offered among the bank

Cheers

Dear,

1. If you refinance your property right now with rm600,000 market value, you can refinance and cash out ( RM600,000 * 90% = RM540,000) (RM540,000 - RM430,000=RM110,000)

You can cash out RM110,000 IF your current outstanding loan remains RM430,000 (example)

2. Make sure you state clearly, whether there's change of SPA name, as the cost is different

3. Check your property title whetehr you receive any

4. Make sure communicate well with banker how much Margin of finance you wanted to borrow and cash out

Cheers

Interest rate will be the same.

Under company definitely not many

HLBB, MAYBANK


Dear,

1. Top up and refinance is different thing
2. Mrta will be canceled for refinance and sell of property.


Difference:



Dear

Yes. MRTA AND MLTA is optionable, you can chose which one suits you the best.




Dear,

1. No problem with this, income credited has proof.
2.
3.No problem with this, important is explain well to the credit officer what's going on AND CAN PROCEED. This isn't a big problem though.


CHeers

Dear

Nope.

If you wish to, you need to refinance your property only you could change the package.

Cheers

Dear,

1. There's a set of standard formula to teach you how to calculate, but iit will be not accurate, because different bank has diff DSR and deb calculation, hence it is best to let mortgage consultant to calcualte for you.

DO provide below details so taht we can calculate for you accurately!



2. You did a correct thing before buying a house. Lots of people made this mistake as to purchase before assessing their own credit. Then when they sign booking form, their loan failed due to certain reason and need months to remediate it.

YOu are smart
Cheers

Dear
1. When you refinance, your loan will be as the same, if you refinance and cash out. Refinance same outstanding amt is 1 line, cash out is another line.

Cheers


Dear,

1. Yes, OCBC and Maybank still does it.
2. If you need any help, do inform me.

Cheers

Dear

Hope for the best, though it's short term gain

Cheers

This is expected during a drop or rise in OPR rate. It will be reviewed again every 3 months. Just like oil price is floating every month. There is nothing much to be too excited about. Either drop or rise will give effect to our borrowing and savings.

Heard that RHB will reduce their rate again

It is dropping already. Since the other big banks have done so. E.g mbb pbb cimb

Hello,

Any guru here can advice if I can join name to purchase a house value at RM750k with a foreigner? Thx

How is this foreigner related to you ?

my brother in law. will he be able to apply for loan in our bank?

Ya can but are you planning to put his name inside the S&P ?

This post has been edited by lifebalance: Jul 27 2016, 02:20 PM

here's my situation. House value is RM750k.
>will my bro-in law(Singaporean) be able to share 50/50 with me given that foreigner need to purchase prop 1mil and above?
>if he can, will he be able to apply for loan here?
>i'm staying in a prop (value abt RM700k) fully paid. Advisable if I refinance(not sure if this is the correct term) RM300k and pay my 50% share?

Gurus, your advice is greatly appreciated.

if you plan to put his name in the S&P then he needs to buy 1 mil above property.

If not, then can purchase below 1 mil if only put ur name.

If you're in short of money then you can refinance ur property but the money will only be given to you 2 - 3 months later upon refinancing.