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> Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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ssh2222
post Jul 25 2017, 04:52 PM

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QUOTE(AerynBleble @ Jul 25 2017, 01:13 PM)
Is it possible to open a ssm account now since the project ll be launch on next month ? Bank ll still accept my submission wheres my account are still fresh ?
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The first thing the bank will look into will be the age of the company, and followed by how much tax you've paid. So if you're talking about a project that will be launched next month, then your company is too young.
stereobiru
post Jul 25 2017, 09:28 PM

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hi.. just for asking. Anyone here have apply for BSN youth Housing Scheme? Is it this loan good compare to other loan under skim rumah pertamaku in other bank offer? Thank
lifebalance
post Jul 25 2017, 09:44 PM

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QUOTE(stereobiru @ Jul 25 2017, 09:28 PM)
hi.. just for asking. Anyone here have apply for BSN youth Housing Scheme? Is it this loan good compare to other loan under skim rumah pertamaku in other bank offer? Thank
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I don't really do any BSN loan but

Interest Rate
» Pricing range between BR+0.60% up to BR+3.00% subject to customer’s profile and property location.
» For loan amount of RM350,000 and above with 30 years of loan tenure and no lock-in period, the indicative
interest rate is BR + 0.80%*. (applicable for NZEC package only).
» Current BSN Base Rate (BR) is 3.95% (with effect from 21st July 2016).

the rate is about 4.55% on the lowest.

However they do aid on the financing

» The Government is also to aid monthly instalments of RM200 per month that will be credited to
customer’s financing account for a period of 2 years, from the date of first disbursement to the
developer / vendor.

In terms of rate, maybe it's on a high side, but with the help on 2 years financing, that might ease you a burden a little.

You can apply for other bank's first housing scheme to compare the overall package though.
stereobiru
post Jul 25 2017, 09:48 PM

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QUOTE(lifebalance @ Jul 25 2017, 09:44 PM)
I don't really do any BSN loan but

Interest Rate
»  Pricing range between BR+0.60% up to BR+3.00% subject to customer’s profile and property location.
»  For loan amount of RM350,000 and above with 30 years of loan tenure and no lock-in period, the indicative
    interest rate is BR + 0.80%*. (applicable for NZEC package only).
»  Current BSN Base Rate (BR) is 3.95% (with effect from 21st July 2016).

the rate is about 4.55% on the lowest.

However they do aid on the financing

»  The Government is also to aid monthly instalments of RM200 per month that will be credited to
    customer’s financing account for a period of 2 years, from the date of first disbursement to the
    developer / vendor.

In terms of rate, maybe it's on a high side, but with the help on 2 years financing, that might ease you a burden a little.

You can apply for other bank's first housing scheme to compare the overall package though.
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Is it the BSN is the only bank that provided aid for rm200 per month for period of 2 year? Do you think, it benefit or not to a loaner if we compare with other bank that not offer that aid (rm200 per month in duration of 2 year) but provided a low interest rate?

lifebalance
post Jul 25 2017, 09:53 PM

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QUOTE(stereobiru @ Jul 25 2017, 09:48 PM)
Is it the BSN is the only bank that provided aid for rm200 per month for period of 2 year? Do you think, it benefit or not to a loaner if we compare with other bank that not offer that aid (rm200 per month in duration of 2 year) but provided a low interest rate?
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if you plan to take the loan for long term then it's not advisable to take with BSN, if you plan to sell the property in 3 years time then it's worth taking BSN.
stereobiru
post Jul 25 2017, 10:08 PM

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QUOTE(lifebalance @ Jul 25 2017, 09:53 PM)
if you plan to take the loan for long term then it's not advisable to take with BSN, if you plan to sell the property in 3 years time then it's worth taking BSN.
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for my first house, probably have a resale moratorium for 10 years. I plan to sell the property after the moratorium is finished. Do you think, for my future planning, is it okay if i apply the BSN loan?

wild_card_my
post Jul 25 2017, 10:39 PM

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QUOTE(stereobiru @ Jul 25 2017, 09:28 PM)
hi.. just for asking. Anyone here have apply for BSN youth Housing Scheme? Is it this loan good compare to other loan under skim rumah pertamaku in other bank offer? Thank
*
I would suggest taking skim rumah pertama ku due to the better rates offered by normal banks

QUOTE(stereobiru @ Jul 25 2017, 09:48 PM)
Is it the BSN is the only bank that provided aid for rm200 per month for period of 2 year? Do you think, it benefit or not to a loaner if we compare with other bank that not offer that aid (rm200 per month in duration of 2 year) but provided a low interest rate?
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RM200 x 24 months is just RM4800, if you are planning to hold this property for longer than 5 years, you might as well go for normal bank loans due to the difference in rates that will be compounded from the first day of your loan

QUOTE(stereobiru @ Jul 25 2017, 10:08 PM)
for my first house, probably have a resale moratorium for 10 years. I plan to sell the property after the moratorium is finished. Do you think, for my future planning, is it okay if i apply the BSN loan?
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10 years is way too long especially if you can get an offer that isbetter by about 0.2% from other banks. You can still apply for it, but it doesn't mean you need to take their offer. You are still free to shop around
lifebalance
post Jul 25 2017, 10:41 PM

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QUOTE(stereobiru @ Jul 25 2017, 10:08 PM)
for my first house, probably have a resale moratorium for 10 years. I plan to sell the property after the moratorium is finished. Do you think, for my future planning, is it okay if i apply the BSN loan?
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If you were to take the loan of 90%, the rate you can get is about 4.25% - 4.3%

That's a savings of 0.25% - 0.3% over 10 years, this can be a sum of money over a long period of time than the RM200 monthly that you're just getting for 2 years period.
wild_card_my
post Jul 25 2017, 10:44 PM

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QUOTE(lifebalance @ Jul 25 2017, 10:41 PM)
If you were to take the loan of 90%, the rate you can get is about 4.25% - 4.3%

That's a savings of 0.25% - 0.3% over 10 years, this can be a sum of money over a long period of time than the RM200 monthly that you're just getting for 2 years period.
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Exactly. 0.25% is a lot in 10 years. 4.99% - 4.25% = 0.74% is also a lot over 10 years. laugh.gif laugh.gif

That's right. Rates matter a lot, people. Don't be duped into other facilities when the financial institution can't even compete on the rates.
logi89
post Jul 26 2017, 10:11 AM

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Hi Wild_card_my

I have a simple query about RPGT.

Being a first time home-owner, I read about the exemption of paying RPGT for a once-in-a-lifetime waiver. Is this still being applied now?

Or it comes with T&C such as property below 500K and so on.

Thanking you in advance



lifebalance
post Jul 26 2017, 10:22 AM

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QUOTE(logi89 @ Jul 26 2017, 10:11 AM)
Hi Wild_card_my

I have a simple query about RPGT.

Being a first time home-owner, I read about the exemption of paying RPGT for a once-in-a-lifetime waiver. Is this still being applied now?

Or it comes with T&C such as property below 500K and so on.

Thanking you in advance
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Yes, you can use the RPGT exemption once in a life time. There is no fixed amount T&C

But this is only applicable for Residential Property, not Commercial.
eric84cool
post Jul 26 2017, 06:31 PM

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The banker is offering either MLTT or MRTT. What's the difference and why the change from normal MRTA or MLTA??
lifebalance
post Jul 26 2017, 06:37 PM

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QUOTE(eric84cool @ Jul 26 2017, 06:31 PM)
The banker is offering either MLTT or MRTT. What's the difference and why the change from normal MRTA or MLTA??
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Actually it's the same product, they just coin the product as Takaful. However, it makes not much difference because the beneficiary is still the bank whether it's takaful or non-takaful.

With regards to the different on MLTA and MRTA. Below is a comparison table.

user posted image
wild_card_my
post Jul 26 2017, 08:39 PM

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QUOTE(eric84cool @ Jul 26 2017, 06:31 PM)
The banker is offering either MLTT or MRTT. What's the difference and why the change from normal MRTA or MLTA??
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My recommendation would just to take MRTTT, because of:

1. the cost, cheaper
2. do you really need a level protection over the years?

QUOTE(lifebalance @ Jul 26 2017, 06:37 PM)
Actually it's the same product, they just coin the product as Takaful. However, it makes not much difference because the beneficiary is still the bank whether it's takaful or non-takaful.


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Keith, important to note that the products are not the same between the MRTT and MLTT offered by the banks vs the ones offered by insurance agents like you. MLTT offered by the bank is single premium, just like their MRTT, and the bank would be able to finance the costs as well.

Also you are wrong about the beneficiary thus making it "not much difference". There is a difference, as the bank will only get the outstanding, anything extra the client (or his beneficiaries) will get.

I know you want to sell insurance, but it is important to be truthful about the banks' product. Please don't bash the banks' product just to promote your AIA insurance.

Finally, there is a difference between Takaful and Insurance, calling it "not much difference" shows that you are ignorant. Muslims would be encouraged to take Takaful over Insurance, as per recommended on the hukum-hakam set by Mufti Negara.

This post has been edited by wild_card_my: Jul 26 2017, 08:51 PM
AerynBleble
post Jul 26 2017, 08:56 PM

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As a employee , monthly salary 5k commission 1k , last year paid income tax RM1100 .. izzit easier to apply loan ? But i dun hav epf and sosco😓
lifebalance
post Jul 26 2017, 09:03 PM

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QUOTE(AerynBleble @ Jul 26 2017, 08:56 PM)
As a employee , monthly salary 5k commission 1k , last year paid income tax RM1100 .. izzit easier to apply loan ? But i dun hav epf and sosco😓
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I believe your previous story was that you were trying to establish your income to apply for a housing loan because you're self employed but without a Ssm and current account

You can't pay yourself by creating a payslip under your own company. The bank will not accept it.

Also if the bank see that you don't contribute Epf. They will not proceed with your loan especially if you're paying yourself that salary.

You can't do such paperwork to apply for the bank loan.

This post has been edited by lifebalance: Jul 26 2017, 09:04 PM
wild_card_my
post Jul 26 2017, 09:11 PM

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QUOTE(AerynBleble @ Jul 26 2017, 08:56 PM)
As a employee , monthly salary 5k commission 1k , last year paid income tax RM1100 .. izzit easier to apply loan ? But i dun hav epf and sosco😓
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Not having EPF and SOCSO is NOT an issue

1. The amount of income tax that you pay is also of no concern, as long as they are above board.

2. The thing that matters would be your INCOME vs COMMITMENT

3. btw if you own a business and pay yourself salary, the bank will want to look at the company's performance and not yours as an individual, since as the owner of the company, you can pay whatever you want to yourself.
hafizhans
post Jul 27 2017, 08:16 AM

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is it true if too much hassle in preparing documents for applying housing loan, bank will give us bad score resulting cannot get 90% loan?
lifebalance
post Jul 27 2017, 08:24 AM

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QUOTE(hafizhans @ Jul 27 2017, 08:16 AM)
is it true if too much hassle in preparing documents for applying housing loan, bank will give us bad score resulting cannot get 90% loan?
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Hmm, how did you get such info in the first place ?

Banks will give out the loan for your application as long as you fulfill these criteria

1. No blacklist in CTOS
2. CCRIS has some credit facility with no late repayment at all
3. Your job is stable e.g no contractual basis
4. If it's from MNC or GLC, that's better
5. Degree Holder will add some points

And of course the most importing thing is your commitment is kept at minimum before you start taking up a housing loan.

Some of the things that can affect you are such as

1. High credit card outstanding
2. Took up too much personal loan
3. High car installment
4. Overdraft Facilities

Your income is also a factor as the banks will give you different DSR ratios % depending on your nett income. Ranging from 30% - 85%

Which is why it's always good to get your background analysed before you proceed to start buying your property instead of the other way around which is going around booking for a property and then start thinking about your background.
shockbaby
post Jul 27 2017, 08:32 AM

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Hi guys, me (25 years old) and my partner (26 years old) is looking up for a house.

My income ( number that bank in into saving and salary account )
6000
Partner income ( number that bank in into saving and salary account )
2800

My credit card history is consider "flawless" as I use automatic payment so I have no worries about it and my car loan will be finishing soon ( around next year ) and that loan itself should be able to give decent impression of my repayment I guess.

So my questions are:
1) We wish to know if we can purchase up to which level of property (total price)
2) The difficulty of getting a joint loan because we are not married yet, not so soon yet

This post has been edited by shockbaby: Jul 27 2017, 08:40 AM

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