"More safe"? Why? On what basis?

Yup, kind of curious.
Up to now, all these BR +Spread / relative profit margin still does not have any clear defintion and probably dictated by the individual banks.
That's why I'm still a bit sceptic and confused at the same as of which bank to choose.


One more question, I'm not sure whether this is the correct thread.
I just would like to know if we are buying a property from the developer and the construction is still in progress, we are required to pay for the interest during the construction.

How does this go about?
Does this interest amount goes through the bank via loan or we need to pay the interest on our own to the developer?

Appreciate some feedbacks.

Thanks.

Interest is pay to the bank, normally when bank release certain amount of money they will issue letter to you to inform you certain amount of money have been release

For matters related to BR, actually this is discussed quite in details in one of the pinned thread, perhaps you can spend some time reading it.

If you borrow from the bank to purchase a property under construction, the bank will only release the loan when you have fulfilled your portion. Your portion for the purchase price is paid to the developer.

The release of bank's loan is on progressive basis in accordance to the stage of construction of the property, as stipulated in the S&P. Once the bank has released the loan, then you have to start servicing the loan interest, payable to the bank (not developer).

if i want Rm1000 monthly commitment 35 years loan, what is the house price range ?

Around 200k property

any rhb n hsbc banker here?

This post has been edited by fusionnetx: May 8 2015, 08:23 PM

If there is a property bought at RM500,000, down 10%, RM450,000 loan 30 years tenure 4+%, and sold 4 years later at RM850,000:

1. What is the nett amount that the owner will get?
2. How is the calculation derived?
3. Is there any online calculator that deals with the profit calculation

This thread and other online property websites do not address this question...

This post has been edited by InItToDriveIt: May 10 2015, 03:07 PM

hi all , is it true if loan lower will get higher interest rate? im talking about under 300k property. can i know which bank offer lower interest rate as of now? current option
CIxx bank, PUxxxx bank, and Mxx bank.

In these option, i believe public bank and maybank rate is quite competitive. yes loan amount lower and interest rate is slightly higher, in your loan amount lowest should be 4.45 unless special case can first grading can try appeal to 4.4

Another noob question here.

I was wondering whether it is ok for us to sign SnP (for new property) prior to choosing the "best" bank that is in progress in preparing their LO letter?

Thank you.

This post has been edited by eastern: May 11 2015, 12:15 PM

Advice not to take this risk.

I see. Thanks for the advice.
I was wondering why is it a risk?

Furthermore, how long would it take for us to sign the SnP after we have signed the LO? A day after - is it fine or need to wait until the bank gives the green light?

A more proper way is to wait till the bank's letter of offer is issued and you have signed on it, only then signed the S&P. This is to avoid the situation that if for whatsoever reason the bank decides not to grant you the loan (ie not issuing the letter of offer) and you end up having no financier to finance your purchase. If this happens, either you buy the property in cash or get ready to burn your 10% deposits which are paid during the S&P signing.

Hi, yesterday went to look see look see new project by MKH. End up...place a booking fee plus signing the SnP. Now looking for bank for the loan.
Ya, i signed the SnP on the spot to get another 1.5% discount.

House selling Price = Rm 669,000/=

(-) 8% on selling price
(-) 1.5% on Sign SnP on the spot
(-) 1% loan legal
Total discount = 10.5%
Free Legal

House Nett price = RM 598,775/=

So far Submitted Maybank and HL Bank.

Any bank to recommend??

Thanks in advance.

Submitted according to the developer panel bank. If they panel is PBB bank you can try, and it's very risky to sign SnP on the spot. what if your loan side giving any problem?

Ya..is true. But both bankers maybank n hl bank roughly calculated My income and commitment On the spot. According to them..should be ok. merge with my wife i come to be safe.

Hi, too early to say which one is better as both have pros and cons. So i put "more safe", but its too much uncertainly on this topic.

One important point to note is whiltst base rate can go up and down, the spread is fixed. So, taking a package of low base rate + high spread "may" not be the best deal in the event of increases their base rate.

This is my point of view.

Thanks

Hi all

am currently nego for a property, subsale, valuation approx 1.35m. Am interested in getting a few qotes (got from Alliance and HSBC so far), and I don't fully understand the BR thing beyond what I have read in iMoney (ie, I don't understand why everyone just doesnt go for Maybank or PBB as it is cheaper).

So if there's anyone able to give me a few quotes or the such, please PM me. Btw, this may be a joint mtge.

[quote=ims2628,May 6 2015, 11:13 AM]
Yes. Convert from your salary in Singapore dollars to Malaysia Ringgit and estimate your monthly income from there


The bank will follow market exchange rate?