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 Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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cclay
post Jan 29 2016, 07:04 PM

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Thinking of refinancing my property to cash out some money and get better rate.. Which bank is better? Any bank offers zero moving cost? Current rate I got is BLR - 2.3%.. sad.gif
cclay
post Jan 30 2016, 04:58 PM

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QUOTE(Madgeniusfigo @ Jan 29 2016, 07:35 PM)
Dear captain America,

Nowadays refinancing cash out quite tough, market slow, bank tighten.

1. For low interest rate ambank, cimb and Rhb. Hlbb, uob do provide low rate but dependent on ur profile. Must be very strong to get low rate.

How much is the loan amount you are planning to refinance and cash out?
Cash out portion will based on MV - outstanding balance

2. Zero moving cost offered by HSBC, rate will depends on how much the loan amount u r refinancing.
*
Still owe PBB principal around RM 380K. Property worth about RM 550K now. Can only refinance to 20 years only..
What's the option, bro?
cclay
post Jan 31 2016, 12:59 PM

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QUOTE(Madgeniusfigo @ Jan 30 2016, 10:47 PM)
Dea cclay,

1. The total cash out if based on 90%, it will be RM550X90% - 380K =RM115K max. Given market value is RM550.

2. 20 years? means your age is around around 50.

3.  I would need below details, to calculate your max allowable cash out amount:

CODE
1.Borrower
a.age
b. No. of borrowers
c. no. of housing loan

2. Income (borrower)
a. Gross salary
A:
B:
b.Variable income for business (6months latest)
"1.
2.
3.
4.
5.
6."
c. OT
d. Fixed allowance
e. Variable Allowance (6months latest)
"1.
2.
3.
4.
5.
6."
f. Bonus contractual (1 year bonus amount)
g. Bonus performance (2 years bonus amount)
h. Comission (6 months, each month amount from the earliest)
"1.
2.
3.
4.
5.
6."

3. Supporting income (borrower)
-Tenancy agreement rental (6months)
"1.
2.
3.
4.
5.
6."
i. ASB ( 2 years total DIV)
j. Shares dividend
k. Fixed deposit

4. Debt / commitment (borrower) "joint or indiv"
a. Hire purchase loan (Borrowed amount)*
b. Housing loan (Borrowed amount) (Joint or indiv)
c. Personal loan (Credit limit)
d. PTPTN (credit limit)
e. Credit card (Outstanding/usage)
f. ASB loan ( credit limit)
g. Overdraft ( Credit limit)

4. Background (borrower)
a. Occupation
b. age
c. currently staying at?

5. Property
a. purchase price
b. subsales or underconstruction
c. freehold or leasehold
d. 1 borrower or joint borrower
e. Strata title or master title

*
Cashout will be based on 90%?

I am 38 this year. Max until 70 years?


cclay
post Feb 3 2016, 10:28 PM

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QUOTE(Madgeniusfigo @ Feb 3 2016, 07:48 PM)
Dear,

1. Yes, top up is alike cash out but within the same bank. The cost for it is Loan legal fees, stamp duty and valuation. However, if you want superb fast disbursement of cash, aim for top up, it takes 2weeks+ for the disbursement to happen. Cash out will take 1month++

If you want better rate or opt for different bank, go for refinance cash out.

If you need to cash ASAP, go for top up.

2. Epf acc 2, Yes.
*
Sorry, tumpang tumpang ya..
Another option is top up with the same bank for my case. But I hope to get better rate. Could the bank revise the previous rate?
cclay
post Feb 3 2016, 10:34 PM

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QUOTE(lifebalance @ Feb 3 2016, 10:32 PM)
You may try to request on revise on the current interest rate in writing. Depends on whether the bank wants to charge you a lower interest (meaning they earn lesser for your benefit) - normally don't happen la unless you loan a big big sum and they're afraid you would move to another bank  tongue.gif
*
But still I am confident I could get a better rate with other bank. Hehe, just need to pay legal fees.. cry.gif


cclay
post Feb 3 2016, 10:39 PM

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QUOTE(lifebalance @ Feb 3 2016, 10:37 PM)
then calculate how many months u plan to hold the loan and then calculate the loan amount, the amount of installment you pay vs a lawyer fee
*
OK, will check with the bank after CNY rclxm9.gif
cclay
post Feb 4 2016, 06:24 AM

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QUOTE(Madgeniusfigo @ Feb 4 2016, 05:20 AM)
Dear cclay,

1. If you top up, the interest rate will based on the top up loan amount. Hence if less than Rm200k, the rate usually would be bad. For the bank to revise your existing rate to current rate, it is subjective, they would look at your debt payment and your profile before they adjust it.

2. How bad was the rate for your existing loan though?
*
BLR - 2.3 tongue.gif

I think I deserved better rate.. Hehe

This post has been edited by cclay: Feb 4 2016, 06:24 AM
cclay
post Feb 29 2016, 12:53 AM

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Any bros know when will the bank update CCRIS. Is it still on the 15th every month?
Just want to make sure that I got it correct before I submit loan application.. smile.gif
cclay
post Feb 29 2016, 08:46 PM

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QUOTE(Madgeniusfigo @ Feb 29 2016, 06:45 PM)
Dear cclay,

1. the ccris update has changed to around 10-11th date for updating.
*
Noted. Thanks! smile.gif
cclay
post Feb 29 2016, 08:50 PM

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QUOTE(Jasoncat @ Feb 29 2016, 01:15 AM)
Latest by 10th of every month the banks need to submit their month end loan position to BNM.  The 15th deadline was a thing in the past for quite long.
*
Noted. Thanks, bro! smile.gif
cclay
post Feb 29 2016, 08:51 PM

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QUOTE(lifebalance @ Feb 29 2016, 01:00 AM)
Some say it's 11th, some say 15th, I stick with 15th until further confirmation.
*
Thanks! smile.gif
cclay
post Mar 21 2016, 05:54 PM

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Just want to ask, how important is PTPTN in the loan approval?
cclay
post Mar 21 2016, 06:08 PM

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QUOTE(lifebalance @ Mar 21 2016, 06:00 PM)
very important as it's part of CCRIS, if you dun pay off ur late arrear, your loan will not pass.
*
OMG! I just went to print my ccris, it's there!
The officer told me just updated 29/02!
Darn! sad.gif

Will there be leniency? Depends on bank judgment?
Or straight denied when they see unpaid PTPTN?
cclay
post Mar 21 2016, 06:37 PM

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QUOTE(lifebalance @ Mar 21 2016, 06:11 PM)
You can go to PTPTN to restructure ur loan and it will disappear from CCRIS after that. It will update on 10/4 that your PTPTN CCRIS had been removed.

There is no leniency ...

I have submitted my loan under AIA for a customer in here for 200k and the client had 14 months arrear for ptptn, loan approved smile.gif
*
I see.
I have 50 months arrear.. ;p

All my others outstanding "0" "0" "0" only..


cclay
post Mar 21 2016, 06:41 PM

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QUOTE(lifebalance @ Mar 21 2016, 06:39 PM)
Haha, go get it restructure la ... unless u got the money to pump in 1 shot settle all biggrin.gif
*

If restructure will still appear on CCRIS?
cclay
post Mar 21 2016, 06:43 PM

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QUOTE(Madgeniusfigo @ Mar 21 2016, 06:37 PM)
Dear,

1. March ccris update, ptptn had updated bundle of defaulters. Even defaulting 3months will get yr record in the ccris. Well I can is, gov need cash. Haha

2. If ptptn arrears appeared in ptptn. It will make ur loan rejected.
Well, to topple this, you need to either settle the ptptn loan and get 4 pages of loan settlement letter
Or
Ask for ptptn  loan restructuring. Then get restructuring letter from ptptn.

3. Apply loan with both of either one of the letter, will get ur loan approved. As per all my cases this month got affected by ptptn debt. All proceed smoothly with the letter provided by ptptn.

Cheers
*
Damn regret leh. Should apply early March.. Haiz...
I thought after so many years, became write-off case liao..
Gov really needs money now, u r right!

Will go talk to the PTPTN officer..

Btw, PTPTN will also affect personal loan?


cclay
post Mar 21 2016, 06:45 PM

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QUOTE(Madgeniusfigo @ Mar 21 2016, 06:44 PM)
Dear
If you have restructure, it won't appear in the ccris.

Cheers
*
Noted. Like that need to fast hand fast leg gao dim restructure this month! smile.gif
cclay
post Mar 21 2016, 06:47 PM

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QUOTE(lifebalance @ Mar 21 2016, 06:45 PM)
Anything as long as CCRIS, all ur loan and credit card application will be considered "frozen" until you pay it off.
*
Darn!

Like that need to fast hand fast leg gao dim restructure this month!
cclay
post Mar 21 2016, 06:49 PM

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QUOTE(lifebalance @ Mar 21 2016, 06:48 PM)
Still got time until the 10th of next month. Better settle it off so they can update the files
*
I think 31/03 is the deadline right? What they update in April is payment until 31/03 only..
cclay
post Mar 21 2016, 06:54 PM

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QUOTE(lifebalance @ Mar 21 2016, 06:50 PM)
Depends on whether PTPTN follow the guideline set by BNM. They're adapting the system now. I mean if you can settle things earlier, then why wait until last minute right ? smile.gif
*
Yes, u r right! smile.gif

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