Hi all. Planning to buy 2nd house.

Gross income: 5k.

Age: 30

Monthly fix commitments in CCRIS: 2k

Max amount I can borrow?

Hi all.

Have a few queries here. Need some assistance pertaining to debt consolidation as follows:

Gross income: RM5,000

Car: RM800/month (O/S RM70,000)

Personal Loan: RM720/month (O/S RM55,000)

House: RM1,000/month (O/S RM200,000)

Market Value of my house: RM400,000

1. Which Bank offers debt consolidation + refinance property?

2. Consolidation financing rate of 4.2% considered okay?

3. What are the other things need to be checked in debt consolidation other than rate?

4. Instead of paying total instalments RM2,500/month is it better to consolidate all financinga into 1 instalment only let say RM1,700/month?

5. RM70,000 cashout can be stretched to 35 years?

6. What is the best way to spend the RM70,000 cashout? Go bid low cost flats?

Nees your wisdom and advices. Thanks all!

Which Bank offered debt consolidation services ya? Pls share ya.

Thanks a lot for the info. Does the Bank provides good interest rates?

And, any other Banks offered debt consolidation that we can compare?

Hi all Sifus.

Just would like to know all of your opinions. Which one is better:

1.

A. Higher cashout (dont fully settled the car) , higher instalment. Extra money let say RM100K parked at ASB for passive income.

B. Lower cashout (fully settled the car) , lower instalment. No extra money to park at ASB hence, no passive income.

2. Car Loan outstanding RM70K (RM800 monthly)

A. Let it be and continue to serve the monthly instalments for 8 more years.

B. Settled it and consolidate it during mortgage financing. Car value depreciates, so is it advisable to fullt settle a car loan with 8 years left?

PBB got debt consolidation? Or just normal refinancing?

Thanks a lot for your response.

Referring to your explanation, it depends a lot on our repayment capacity right? If we can serve the monthly instalments, thus go for for the higher payout. Am I correct?

If you were having a net salary of RM5.5K, paying monthly instalments of RM1K and fixed expenses of RM4K. Emergency fund only RM500 left. Is it quite stretched?

Usually how much is the ideal percentage that we need to save from our nett salary?

I womdering the same thing too..

Hi All.

I want to check my loan availability.

Pay: 5,400
Monthly commitments:
1. House (joint name) : 1,000
2. PF: 900
3. Car: 800

Cash in hand: 45k
I am planning to buy 2nd house for 280k (90%).

What are the chances of my loan will approve? Should I consolidate my house with other existing commitments?


This post has been edited by casio17: Aug 8 2020, 04:54 PM

Thanks a lot for the reply.

Whats your thoughts if I consolidate those 3 financing into 1 instalment? Which means settle my PF and HP.

From RM2,200 to RM700 per month. Its a big win right?

Hi Sifuss,

Any info which Bank gave the highest MV for property?