Hi all sifus,

My bf has a house loan with balance of 300k, the interest rate is at BLR-1.95 ( so is 4.9?).
we are thinking to request the interest rate to be reduce since the economy is not that good. May i know what are the chances we can get a lower rate? Can any sifu enlighten us on this?..it is a flexi package, left around 25 years.

Thanks in advance.

Yes you may write in letter to request reduce interest, but normally the rate they reduce will just slightly lower than previous rate.

actually is a she, she planning get a unit ~ rm400 - 450K unit with joint name with her BF. She have no Credit card, no PTPTN loan, no commitment at all. In her case, she got side income as teaching tuition classed. Her bf just bought a unit in KL for RM500k with the salary of 7k(no commitment on car loan).

seriously did u read it?
i have no problem on loan approval, i just dont want to sacrifice my current living standard
i am just wondering after everything settled, can i still pump in lump sump to lower down the installment

2014 received one month, was entitled for three months but pro-rated due to joined late. 2015 getting three months as well, and also a 5~10% increment. in January 2016.

So really impossible to get ah?  no chance at all?

My colleague salary 2.7k but managed to obtain a 500k housing loan, new project under construction. 100% margin financing somemore. He told me his dad become guarantor and very friend friend with developer/banker. Why ah 

🙆 thank you for your advice.
The branch manager my bf approached before said the loan at is not many,and the bank will hardly consider the reduction due to the low profit margin.
Guess need to try and ask again.
Tqvm, have a nice day.

Yup, thats the plan and her BF just bought a subsale house over 500k with the salary of 6 to 7k per month. If to joint name, how high is the possibility for them to get the loan at the moment ?

And boss,

PTPTN will affect housing loan calculation ah? I remember I asked a banker before, and he told me it will appear in the system, but won't affect the DSR calculation wor.

And how come the DSR over 100% 

I used a calculator below

Not

1.8k/2.7k net = 68%?

tq

Thats truly informative indeed.

However, pardon my ignorance, my query remains that, whether the aforesaid criteria are referring to one borrower, or both borrower jointly, i.e.: if both of us could meet the DSR ratio of lesser than 50%, we will be qualify for a 90% financing margin despite the fact that if stand alone, the DSR will be more than 90%.

Thanks.

thx to dear sifus who explain the BR system to me,

oso got some qestn on MRTA VS MLTA,

i done some research, pls correct me if i'm wrong

MRTA
1) value drop accordingly (Throughout the loan tenure, but the protection covered will be less than loan outstanding amount when BR interest rate hike up)
2) cannot be transfer Yes
3) terminate if refinance Yes
4) cheaper Yes
5) can be included as part of the loan Yes, but it will be compounded and charged interest along with the loan



MLTA / MLA
1) difference btwn MLTA and MLA , MLTA offered by banker, MLA can get quotation from external insurance company ? Yes
2) both got value and do not depreciate  Yes, if you include time value of money, it does depreciate
3) more expensive than MRTA Yes

however i m not sure about the following,

4) wat happen after we fully paid up the property ? can we withdraw the premium paid or we can withdraw the sum insured ? is it similar to those insurance saving plan etc ? For MRTA No. For the rest yes but you won't withdraw sum assured, you will only receive cash value amount depending on which year you paid up your property. Sum insured will be paid when TPD or Death.

5) wat happen if i choose to refinance or sell off the property ? can i transfer the policy to other property ? any penalty charge or tranfer fee applicable ? MLA capable to do so, if the loan amount is different, will need to top up.

6) in term of law, is there any min sum we need to cover our property ? like how many percentage of the property price ? In terms of law, No. Some MLTA/MLA products has a minimum coverage. 

7) How the MLTA / MLA premium being calculate ? purely based on the sum insured or is there any rules of thumb , like how many RM = RM1k coverage ? for me to estimate the monthly premium

Premium is around 0.32% of total sum assured. Easiest calculation. Bear in mind, MLA products comes in different form, you need to ask your agent to clarify which product it is.


8) If i opt for MLA instead of MRTA or MLTA from banker, how is the process ? i should get the loan first or i should go direct consult with the external insurer ? what is the correct procedure ?

MLA, you can get it after loan approved, no sweat

9) would the monthly premium be included in my DSR ? as it is not cheap and may eat into my 10% salary or even higher, would it affect my loan ?

If you buy the protection without financing into your loan, it won't affect your DSR

thanks for any sifu can help on the above

Hi all sifu, I just sign my SPA on 13 July 2015 with Maybank. Normally how long will it take for the disbursement from bank to developer?

The BF still on house loan of her's own. quite high as in getting a 90% loan for new property ?

bro thx for reply

For example, if i wanted to cover full loan amount of 640k, so the premium will be 3.2% x 640k = RM20,480. Which i can pay in full at the beginning or i can pay in monthly premium to the external insurer. Is that correct ?

if i choose MLA, can i opt for it to be included inside my loan financing ? Or i must choose MLTA ?

final "loan repayment + MLTA / MLA" cannot be over my monthly DSR, is tat correct ?

Salary Pay Slip? BF = 7k monthly (with EPF),  GF RM 600 (with EPF) + income from tuition Fee RM 1600 (no epf)

Both no credit card delay payment
Both no car loan
BF has house loan of rm2200 monthly under his name
BF PTPTN not clear yet (got delay payment i guess)

thx clear all my doubts , just tat MLA is really exp 

Hi Madgeniusfigo. Actually I'm buying completed house from IJM. Thus, I can only receive my key when Maybank make the full disbursement.

For my case, normally how long will the bank need to make the payment? My house is freehold at seremban 2.

Regards,
Sherxez

Thank you so much for your reply.     

Thanks for your feedback.

Whats the info I need to furnish to you in order for you to gauge whether we will be qualified for 90% financing margin.

Thanks bro for your reply! appreciate it   

Hi bro once again thanks for all the valuable information,

So I guess PTPTN really does impact housing loan calculation ah 
How come in the previous calculation, the PTPTN amount is 188.88 ah? is it a fixed calculation or depending on loan amount
And for the stamp duty / legal fees calculation. Is it the legal fees are included of disbursements / first home buyer industrial practice discount & stamp duty 50% discount for first home buyers? Just wondering how you got the figures.

Thanks for the clarification, dude. At least happy to know got one shot at a bank in my dream house  . DO you think I should at try my luck? as now market is quite stagnant and people urging BNM to be more lenient to first home buyers, as alot of supply in subsale.