1. Yes, this is what a lot of people do, they remortgage one of their properties that has increased in prices over the years, and use the cash out to consolidate their other loans, including other mortgages that they have. This have plenty of advantages as I will spell below. This process is called consolidation and it is one of the financial tools that be used to restructure/restrategize your finances

a. reduce payable interests from other clean loans like the credit cards and PL, or other asset-backed loan with higher rates than a mortgage like HP and ASB loan
b. lengthen the tenure, this is double-edge, but can be useful depending on your objectives (highly leveraged vs unleveraged). It can be argued that longer tenure with lower cash outflow can help with your investments. It may be true, but be careful when utilizing this feature

2. Typical costs that will be involved for refinancing are:

a. legal fees 1-1.5%
b. stamp duty fees 0.5% (fixed)
c. valuation fees, ~1-2k depending on the valuation of the house

3. Yes, you could ask for lower rate but that is because you can always ask for lower rates than the market rate given, just like if you are applying for a mortgage for your new purchase from developer or though the secondary market (subsale). This is subject to approval. The good thing is that you have the right to refuse signing the letter offer if you don't feel that the rates are suitable for you purposes

4. The 3rd-house 70% MOF rule is highly dependent on the number of your residential mortgages that you have in your CCRIS. Once you have made the refinancing and consolidated 2 of your properties under one mortgage account (with only 1 property backing the mortgage, the other one being unencumbered), you would be allowed to get 90% (++) MOF on your subsequent mortgage applications.

Yeap you can consolidate 2 housing loan into 1 housing loan.

Provided the other house value have appreciated in value enough to pay off the other housing loan.

The cost is based on the loan amount that you'll be refinancing in total or you may also opt as a top up loan on your existing housing loan to pay off the other housing loan is approximately 2.5% of the loan amount.

Assuming loan amount is 500,000 then your loan agreement fee will be somewhere around 12,500.

The loan rate is determined by your loan profile and loan amount. The lowest at the moment is at 4.5% for fluctuating loan and 4.99% for fixed rate loan.

As for the 3rd housing loan quota, this is applicable if you plan to refinance your 3rd property with 2 other existing residential loan, which is subject to 70% margin, but there are ways to get above that margin.

First 5 years you pay the interest only...

so... for example, if your rate is 4.5%, loan is 500k.

1. First 5 years you will only be paying RM1,875/m.

2. On the 6th year onward, you will be paying the full installment but should be capped at 30 years (because mortgages in Malaysia cant be extended beyond the 35 years tenure).. Your installment would be RM2,593/m for 30 years

3. Do note that you have the option to start paying the installment in full anytime before the 6th year... 

4. If you had opted for a normal term/flexi loan without these step-up financings... your installment would be RM2,428/m for 35 years
This is almost no different than buying an under-construction loan, but with under-construction loan, the money disbursed to the developers are in stages, so your interest payments would also increase in stages. But if this is applied to sub-sale, your loans outstanding would be maxed all at once, and your interest repayments will be maxed as well, on the 6th year you have to pay the interest and principal-repayment in full, which is called the installment

Basically this package allows you to only serve the installment loan interest for the first 5 years and thereafter you’ll have to service your loan based on the remaining 30 years tenure (Assuming you’re able to loan up to 70 years old and age below 35)

Basically Maybank allows you to just pay the interest only without paying down the principal amount during the first 5 year. You may end up paying more in the long term compared to a normal loan because you didn’t pay down your principal compared to someone who had done it for the first 5 years.

It’s advisable to service your loan plus extra to bring down your principal overtime or you’ll lose out on interest payable to the bank.

=)

Depends on the offer from developer, if they got give a lot of rebate then you’ll just have to top up with a little more for down payment if you’re only able to loan up to 70%.

In this case it’ll look like 20% (Developer) + 10% (your own down payment) + 70% loan from the bank.

What do you mean by 20% need to be settled in 5 years ? Thought this is a rebate by the developer already ?

Oic haha, then you decide if you want to buy that project with this offer or go for other projects with a better offer.

yes, 3rd residential loan you cannot get 90% margin anymore, only 70%. All types of mortgage loans will be applicable to this rule.  You can probably combo both 20% of the ecoworld (is it a loan from them? or a rebate?) and the 70% margin from the banks

Well essentially, the bank can only give 70%, the rest is up to you and the developer
Oh ok, so it is a loan, to be paid off in 5 years, like a personal loan. do you need to pay it as a balloon payment or you amortize it over 5 years?

Make sure you can afford to pay all your combined loan instalments and also to buffer in unforseen emergencies.

Bro if you feel it's too much for you chances are, you can't afford that property price point at the moment.

Will suggest you to go for something within your affordable range or you could risk getting into financial difficulty or problem repaying the loan in the future.

1. No, subject to 70% as well

2. SR is fixed, the change will only be on the BR.

One of the banker told me after the decrease of BR. The overall ELR will decrease too. But after awhile they will increase the spread (if you haven’t signed) to meet back the market average. Not sure how valid is this statement.

my real case scenario was this...

follow by timeline
-banker verbally say is 4.45% (3.25+1.2), while processing for loan
-BNM say OPR -0.25
-banker say my loan now approved and is with the lower 4.25% (3.05+1.2)
-banker told me that if the offer lapse, the new rate will be back to 4.45% (3.05+1.4)

but i ended taking something else at 4.15 

1. The banks that you apply for in the future will look at your CCRIS and find that you would have at least 2 residential loans. So the next applications will be capped at 70% margin

2. Yes, they have increase the spread for new applications. This can already be seen to my new and old clients' housing loan approvals. The ones who got offers before the banks increased the spread got much better rates. For example, the 4.15% p.a. I got for a client from the same bank for another client who got 4.4%. I won't be able to get 4.15% p.a any more for my clients going forward, because the same bank (and in fact all the banks) have increased their spread rates for the new applicaitons.

1. Yes, they will only look at the number of loan you have in your CCRIS. Doesn’t matter the margin that you had for the other houses.

2. When a new loan is offered, the bank will adjust the SR according to your loan profile. The ELR dropped because of the adjusted BR by the bank during the loan tenure.

Banks look at number of outstanding housing loan via CCRIS.
As long as already got 2 housing loan, any new housing loan application thereafter will only get 70% MOF (margin of finance).

In your situation, to unlock 90% MOF again, you will have to settle (either by full settlement or dispose via selling) 2 of the 3 property in hand.

250K above 4.2% and 400-500K ard 4.2% or better.

Absorb all involved fees will be much higher than the above rate.

Appreciate answer on the following queries:
1. What are the latest loan rates for 35years loan with amount of 250k, 400k and 500k?
2. There are some refinance package now, such as StandChart... Are free legal fees and stamp duties covering all expenses involved??
Thx

No you can't unless you refinance

Never heard that, as there are no free stuff for normal individual.

Bank will reject it as there is no obligation to do so. Not like FD whereby one can have huge amount and nego for slight higher with special approval.

1. No free lunch in this world, the banks will earn one way or another, go with paying the loan agreement if you have the money or let the bank earn from the interest long term.

2. No such thing, the spread is already fixed, they will only adjust on the base rate.

3. Not possible for refinancing, it will usually higher compared to buying a property.

banker will get back to me on monday. should be correct i guess

hmm mine's semi flexi so i cant answer that, but my dad says his full flexi can just withdraw online.