Hi Guys,

Planning to get my 1st property in this year.
Seeking the sifus to advise for the below:

(1) Property price @ 760k
After discount - Newly launched project, double storey landed, freehold.

(2) Loan amount @ 650k
Tenure of 35 years (Plan to place 15% d/p)

(3) MRTA/MLTA
Which one is advisable for first property, for own stay.
How much additional per month needed if amortize into the loan?
I heard, most banks will require you to opt-in their policy to enjoy better interest rates.

(4) Semi/Flexi Type
In my understanding, both shared similar characteristics.
But Flexi offers better cash flow option, with higher charges? I'm confused.

(5) Banks
Typically, Bank C has the most transactions as it's salary account.
Other 2 banks in considerations are Bank P & Bank M.

Seek to hear from the sifus here soon, thanks.

[quote=Pac Lease,Apr 4 2020, 08:20 AM]
[quote=Kanbawza,Apr 3 2020, 10:39 PM]
Hi Guys,

Planning to get my 1st property in this year.
Seeking the sifus to advise for the below:

(1) Property price @ 760k
After discount - Newly launched project, double storey landed, freehold.

(2) Loan amount @ 650k
Tenure of 35 years (Plan to place 15% d/p)

(3) MRTA/MLTA
Which one is advisable for first property, for own stay.
How much additional per month needed if amortize into the loan?
I heard, most banks will require you to opt-in their policy to enjoy better interest rates.

(4) Semi/Flexi Type
In my understanding, both shared similar characteristics.
But Flexi offers better cash flow option, with higher charges? I'm confused.

(5) Banks
Typically, Bank C has the most transactions as it's salary account.
Other 2 banks in considerations are Bank P & Bank M.

Seek to hear from the sifus here soon, thanks.

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Mrta is option to purchase or finance into your loan. Premium will be depend on your loan amount , Age and tenure to be cover.

Since you are buying house from developer,hence. You need to apply the loan with their panel bank. Try to apply 3 bank. Once the loan approval, u can ask banker to give you view the letter offer and you can ask them to explain the loan detail to you.

[/quote]

Thanks for the reply.
Yup, I have yet to find out more details with the developers' recommended bankers.
As we're in MCO period, nothing much can do at the moment.

After the docs submission, banks will provide their L/O after their assessment.
This inclusive of the MRTA/MLTA, it comes before or after the L/O?
And we'll negotiate with the banks based on their L/O inclusive MRTA/MLTA, am i right?

Thank you for your advise.
Indeed, should choose the banks which offer better rates and the FA service.
Otherwise, after you sign the on the dotted line, there's no turning back.

Thank you bro for the info, i'll check and study of HLB mortgage facilities again.
Of course, will compare the offers which offer the best rate.