Hi. Pbb offered me its housing loan for 250k @ 4.45%. Is thst the best rate I can get?

You're looking for loan or .. ?

Yep pbb got that restriction, other banks may not have that kind of restriction.

Dear,

1. Well, does the rental income credited into your account or the owner's account? If it's the owner's account, definitely it isn't yours. Hence, you can't use other people's supporting income to increase your loan chances right?

2. Your question is quite confusing, you said seller gonna rent back to the new owner, hence you haven't purchase yet, where will he get that rental agreement?

CHeers
Dear,

1. MBB full flexi is troublesome though, it's not alike any other full flexi..

Cheers

MBB Offer 4.3% only now, for loan above 500k, 4.2% is only applicable before the BR decreased last week.

Dear

Bank able to adjust their spread rate accordingly thanks.

Cheers

That's why I said his statement is misleading.

Spread is fixed once loan is confirm, only the Base Rate changes, which is why the MBB BR 3.2 + 1.15 was decreased to 3.0 meaning new rate was 4.15 for those who applied previously before the BR announcement on decrease. Now when new applicant apply for loan, it will be BR 3.0 + 1.3%, see how MBB has altered ? although BR decreased but spread can be manipulated before the loan approval.

The bank can't simply increase a spread once a Loan is ON-GOING. Unless serious circumstance that the bank is drastically losing money, they have to issue a sub-LO to negotiate with you.

The Spread can be altered by the bank only during the loan application stage before they decide to offer you the loan.

There is pro and con of the system but at least the market interest rate is determined based on the competition between banks so the interest rate would definitely not fluctuate beyond unreasonable as another bank will take advantage and promote a lower interest rate. In this free market, it will also bring advantage to the borrower as the banks continue to compete and offer a better rate/package. Of course at the flop side, the system might not be 100% perfect or ideal for everyone.

Recently, I have signed a offer letter from a bank for a new house loan but it hasn't legally executed yet. After the OPR reduction, I found out there is another bank offer a better rate, can I cancel the earlier signed letter, if yes is there any penalty?

lowest is still 4.3%

This is expected during a drop or rise in OPR rate. It will be reviewed again every 3 months. Just like oil price is floating every month. There is nothing much to be too excited about. Either drop or rise will give effect to our borrowing and savings.

BR dropped only benefit those who are still serving the loan, not for new takers.
The letter of offer came out late, so I can't enjoy lower interest. As long you don't sign the letter of offer yet, whatever they say can't be used.
Still, MBB will be the lowest among all.

Don't bother too much on BR reduction. I'm bloody happy when I got MBB's offer of 4.35% before OPR dropped.
When OPR dropped, BR was dropped also from 3.2% to 3%, but they increased the BR + 1.15 to BR + 1.3%. At the end of day, I got 4.3%, which is 0.05% of reduction.

Before OPR dropped, 4.35% as my record are nice. Provided I must take the MRTA/MRTT/MLTA, but I can take shorter duration, else it will be 4.55% as published.
I got my loan application approved but the officer were on Raya leave, Committed to buy the house at wrong timing. So got loan approved at 4.35%.
Continue from top, so all the waiting, at the end letter of offer printed and I have to sign, I got 4.3% instead my plan of 4.15%. Cannot say cheat technically, but ethically they are not right on delaying to print out the offer letter at BR 3 + 1.15%. But for me not much issue since I will be settling it fast. With current economy, OPR will stay  and loan interest won't change much.
Like HLB currently are having the lowest BR + 0.71% but they are having a higher BR. All the bank's interest rate are more or less the same, with MBB slightly lower. I prefer MBB is just because all my money over there and they are giving highest online FD(GIA) interest.