It is best back to home branch and request branch staff to provide redemption statement.

You may fill up a service request form and request maybank officer to retrieve redemption statement. They may forward it to you via email or other channel.

Bank will look at total outstanding as per CCRIS to calculate your monthly commitment instead. By 10th-15th of next month, your CCRIS will update with new outstanding. Credit card commitment calculation will be 5% of total outstanding. If your total outstanding exceeds 80% of total credit limit, high chances bank will slash your margin.

May I know what is your loan tenure and how many borrowers?

This post has been edited by ngph988: May 17 2018, 02:07 PM

Fuh, come out with a short video. Salute



This post has been edited by ngph988: May 25 2018, 12:23 PM

It will subject to HQ approval. Bear in mind that staff loan will revert to commercial rate should you leave/resign in future.

It will base on evidence from jabatan pernilaian to determine the MOT fees. It will either follow SNP price or market value, whichever higher. (P/S : bank valuer also retrieve all data from jabatan pernilaian)

Top up under current bank will require bank to create a new facility and disbursement will take about 1-2 months （subject to lawyer's efficiency). Most likely your new financing facility will follow current rate instead of previous rate (in my opinion as bank costs may increase from time to time). But hey the entry cost is much lower compare to refinance to another bank.

You may choose to refinance to another bank to hunt for lower rate (best rate in town starts from 4.47%) however your initial movement cost is rather high.

In my opinion, zero moving costs may benefit you at first however your monthly installment and total interests repayment is insanely high. Please refer to next comment for better solution (much practical and economical).

CIMB and AIA are offering zero moving cost however their rate is slightly higher as they have absorbed moving cost upfront. Instead of looking for higher rate, why not look for more cash out to cover the entry costs (loan agreement facilities fees, valuation fees and stamp duty). In long run you will save alot of interests.

Well, you will need to focus on your cash flow if you are looking for flexi facility. If you have huge amount of cash in and out, just like businessman then full flexi will serve your purpose. Otherwise, semi flexi will give you flexibility you needed (unless you insists for full flexi)

This post has been edited by ngph988: Jun 3 2018, 03:38 PM

Thanks for pointing out that. I'm quite curios too. Which bank/financial institution lifebalance is referring?

This post has been edited by ngph988: Jun 6 2018, 03:39 PM

So you were saying only MBB Islamic as no lock in period?

No, but why only mentioned one bank, how about others?

Please find DSR at 60%

DSR
60% : RM 351,228.30

Income derived from your net income + bonus. Different bank will have different calculation on your bonus. Example, RHB only recognize 1 month bonus if applicant is working in a non MNC company whilst 2 months bonus for MNC worker.

May I know if you are looking for undercon or subsale? If is undercon, you will have limited selection on bank to apply. Subsale will factor market value to determine loan eligibility.

I'm being conservative about loan simulation nowadays, try not compromise for giving false hope. Credit teams nowadays will questions a lot even though DSR within. Well, you know NPL across the banks.

Subale property require a verbal valuation to determine your market price. I'll require the following info for a verbal valuation. Interests rate may starts from 4.47% however subject to approval.

Full address :
Type of property
Land Area (sq ft) :
Built Up (sq ft) :
Renovations & total costs :

You may aply for 90% loan margin given that

1) You have provided the stamped SNP to show the transaction is valid, offer letter copy to prove that security of address is matched with SNP (usually attach with Title will show the security details such as title number, lot number, mukim, daerah, freehold/leasehold, any restriction on land usage and etc)

or

2) Wait CCRIS removal on next month of 10th - 15th upon settlement letter released.

Not many banks consider option 1 unless you are looking for OCBC. If previous loan is under MBB or PBB, then option 1 is viable.

I'll try to explore more on which bank keen to accept on option aside the bank above-mentioned.

Bank usually will look into your Debt Servicing Ratio (DSR) and security of property for next 35 years financing tenure.

DSR will determine your capability to repay your existing commitment + new commitment whilst security of property will lead the bank to decide whether they are willing to pledge their financing on such security. At least bank will be able to auction property at maximum profitability in the event of non performing loan (NPL)

I will need following info to simulate loan eligibility. Noted that different bank will have different DSR calculation.

1) 1) Any pro/cons refinancing with current bank/other bank?

a) If is top up loan (under same bank)
- Easier to apply given criteria is within bank's guideline
- Disbursement of cash out portion will be faster as bank will bypass redemption process
- Entry fees base on cash out portion

b) Refinance
- You may get better rate from current bank
- Cash out portion could be more than current bank
- Complicated situation especially when the land tenure is leasehold and property is under strata title. Disbursement could take longer time.
- Entry costs involving loan legal fees, valuation fees and stamp duty on total amount.


2) Is top up loan same with refinancing? (as I understand, top up is with same bank, refinance with other bank)
- The procedure is merely the same, is just top up loan will have privilege as the current bank holds your property as security.

3) There are home loans max until 70 years old, any banks offer higher?
- I think current BNM guideline is either 35 years repayment or until 70 years old (whichever come first). Last time OCBC able to finance up 75 or 80 years old (couldn't remember when was it cause it happened before I join this industry.)

It will be fall under seller's responsibilities since bank yet to fully disburse.

FYI, non landed property fire insurance will be handled by management team. If you wish to purchase fire insurance from other insurance company, you will need to re assign the policy to management and notify bank to avoid duplicate charges.

Seems RHB will meet up your expectation since more cash out and you are not looking for settlement in near future. Plus you could save up RM 10 monthly maintenance fee.


Nowadays banks are promoting digital banking due to technology advancement and go green (to save more papers). This will assist applicant to expedite application and know the results in few working days. The process and procedure is standardized as final result will be determined by credit team. The duration of process will depending on applicant's profile, substandard application may prolonged approval date.

Through refinance, you will be able to cash out from appreciation off property (market value x 90% - outstanding with bank). Bear in mind that, commercial banks are calculating cash out portion at 10 years installment. Hence, your DSR must be able to sustain the 10 years installment then bank will prolong the cash out tenure to 35 years. Standard procedure conducted by bankers.

Such solution will bring you the benefit of account consolidation/debts consolidation by focusing one repayment and eliminates the other banking repayment (which includes future interests repayment of course). With additional cash on hand, you may manipulate the interests repayment of housing loan as housing loan interests are on daily rests. Hence, it will help you reduce the total interests repayment from time to time.

However, refinance will incur moving costs which involves

1) Legal fees
2) Valuation fees
3) Loan Stamp duty (fixed at 0.5% of loan amount)

You may expect total fees around 2-3% of your financing amount, subject to actual quotation

The interests rate will subject to your scoring and loan amount (only applicable to certain banks such as HLB, RHB and etc). However, you may request to appeal the rate just like standard housing loan application.

3rd housing loan on residential property and onward will start from 70% margin of finance (MOF) as per Bank Negara guideline, however bank reserved rights to slash further if they deemed your application is below par of their expectation. Once you have cleared off outstanding from bank and the facility removed from CCRIS, you may start to apply subsequent loan with 90% (MOF), still subject to approval.


Have you check what's the market value of first property? If there is not much appreciation I suggest you wait for second property since it has more potential appreciation than first property (just guessing)

Most of banks will have full flexi facility, conventional full flexi loan will require Current Account/Saving Account synchronize to loan account. Hence, the account opening fee will be RM 200 with monthly maintenance fee RM 10. Only RHB waived monthly maintenance fee for whole life for their full flexi loan.

Some bank such as PBB and CIMB will have capping on capital repayment if you put in extra money because they tried to maximize their profit via housing loan interests. CIMB will impose a RM 40 service fee though.

MBB full flexi is a hybrid of term loan + OD facility where the principal repayment is fixed.

This post has been edited by ngph988: Jun 17 2018, 01:28 PM

I learned that CIMB full flexi allow to pay full amount outstanding to remain the account. Usually bank will advise client to go for account closure if outstanding balance is settled. I would say different bank will have different policy.

This post has been edited by ngph988: Jun 17 2018, 01:35 PM

Yes conventional semi flexi loan require customer either walk into branch or write into bank for capital repayment. Now online banking will be best tool to do so but alot of banks enhancing their online banking. Hence, it may cause inconvenience to public.

For PBB, usually it will need at least 2-3 working days to transfer money from loan account to saving account.

Well the accuracy will depending on your net salary range. They have 2 tiers of net income calculation. If you wish to explore more on your loan eligibility. Perhaps you may furnish me your following details.

1) Borrower info

Age
Occupation
No of borrower
Single/joint borrower
No of housing loan on hand

2) Income

A) Salary earner
Gross salary
Allowances
i) Fixed (average in 3 months)
ii) Variable (average in 6 months)
OT
Bonuses
i) Contractual (total amount in 1 year)
ii) Performance (total amount in 2 years)
Commission (average in 6 months)

B) Self employed
- Sole proprietor / partnerships / Sdn Bhd

6 months company bank statement(credited amount)
i)
ii)
iii)
iv)
v)
vi)

Income tax declaration
Net Profit/Loss shown in past 3 years audited report (optional)

3) Monthly installment

Housing loan
Hire purchase
Personal loan
ASB loan
PTPTN loan
Credit card
Share margin
Other term loan
OD

4) Supporting document

Rental
Savings
FD
Asb dividend
Shares
Unit Trust
others

Hi, nice to see you again

Please find DSR range as below given that your age is below 35 years old.

70% : RM 227,783.34
75% : RM 349,704.48
80% : RM 471,625.62
85% : RM 593,546.76

Different bank will have different calculation on DSR. Income derived from 2017 income tax + 80% of rental income.

May I know the following

1) If all housing loans are under single name or joint name?

2) Any joint applicant to enhance your loan capacity.

3) When was enterprise established? Nature of business?

Investment holding company is only for investment purpose. If you were to apply loan under investment holding your max residential margin of financing will capped at 60% as per BNM guideline, unless you are aiming commercial title property. (That's the disadvantage of company loan)

Mainly investment holding company will derive income from director's income tax instead of audited report or bank statement. Mainly business module was meant to invest hence the company turnover may not be significant as operating company.

My proposition would be refinance your residential property (given margin is sufficient) to investment holding company (it may involves your partners to be guarantor) and cash out to off set outstanding from property A and B. I know there is a bank at least giving 85% margin refinance residential properties to company entity (I can't tell you here cause an insurance agent may claim that is his intellectual property).

Once you have offset your outstanding for property A and B, following simulation will be your next loan eligibility :

70% : RM 745,472.45
75% : RM 867,393.89
80% : RM 989,315.03
85% : RM 1,111,236.17

OR

You may consider consolidate your debts under Alliance One Account where you will enjoy the term loan and OD facilities (rate starts from 6.88%). OD facility will utilize to consolidate your property A and/or property B outstanding.