Hi, I would like to ask should take up the offer or wait.
Currently I have an offer from HxB 4.2 for 1st year then 4.4 for 2nd year on wards. I have apply for PxB too but still pending for approval. Should I take up the offer by HxB or just wait? I have 10 more working days for the deadline. 

Like i mention, I have a case, they wanna ban me up to them, if they wanna proceed to legal I'm ready, sometimes its not a matter of the money, its a matter of principles. Just because you can afford it doesnt mean u should throw money around for no reason.

Anyway i think my "style" is not so relevant to the thread...

Hi sifus... just a query.
If I apply loan from few banks and all offered me with different rates, will there be any penalty if I didn't take their offer? I did read some rules saying need to pay RM2k penalty if didn't take the offer? Is it true?

Thanks all. Really appreciate it.

Let say I tried 3 banks for 90% MOF, but all banks can offer me 80% only, does it mean i can get my 1% booking fee refunded? In the booking form only mentioned rloan ejected letter to eligible for refund. Do i need to include this clause in the booking form??

as long as got a clause to say that you can get refund if loan not 90%.

Hi,

ask for opinions for loan selection:

house price RM565K (S&P) cover by developer
legal fees, MOT not cover.

1) A (Islamic)
Loan amount 90% + MRTA
BR 4.3 (+1.3%)

2) B (conventional) Full Flexi
Loan Amount 90%+MRTA+legal fee
BR 4.4 (+0.5%)

3) C (conventional) Full Flexi
Loan Amount 90%+MLTA
BR 4.4 (+0.75%)

best on above. which one i should consider & prefer?

Thanks

Heard tht MBB just change its refinance policy to fix the effective rate at BR+1.7% effective 10 Aug. Any MBB officer/agents tht can work around this?

Use PMT
=ABS(PMT(C1/12,C2*12,C3,0))
Where
C1=interest rate in %
C2= tenure in years
C3=boreowing amount

Try it. Not 100% accurate but more or less 99.9% compared to other/web loan calculator

If there is excess payment then you will have to wait for the bank to reimburse it back to your estate as the bank is the policy owner of the mrta.

They will use it to pay all the bank outstanding fees and etc and then the balance only will be released to your estate. Subject to you writing a will. Otherwise it will subject to distribution act.

This will be different from mlta whereby you can nominate who to give the money to should you pass away.

If there is excess payment then you will have to wait for the bank to reimburse it back to your estate as the bank is the policy owner of the mrta.

They will use it to pay all the bank outstanding fees and etc and then the balance only will be released to your estate. Subject to you writing a will. Otherwise it will subject to distribution act.

This will be different from mlta whereby you can nominate who to give the money to should you pass away.

Yes you can.  Which is why insurance have takaful for Muslims  whereby you can create Hibah to the person of your choice.

I know you're good in marketing skills and renaming products but it's still ends up with the same concept. Mltt term had just been used recently when all the while it's been mlta all the while. Same goes with mrta and mrtt. I would prefer to stick to the main traditional term rather than create multiple terms like LRTA and LRTT to confuse ppl even more.

Appreciate your contribution. Tq

If the developer got their own panel bank, can we opt for other bank?

In case the panel bank interest is higher..

thanks for all the input..



first time buyer here...

btw, how to maximize benefit as 1st house buyer??

Any option to still get above 70% MOF for 3rd property and above?

Good day Manx,

Here's your answer for your inqueries.

1. You can do so by opt any favorable insurance company. Make sure bring along your letter offer to let them understand your financial situation so that they can customize a plan suits your needs.

2. Premium is fixed at the age your purchase. Nowadays MLTT will have cash value accumulation aside providing you mortgage protection. At certain years, your premium will break even with cash value.

MLTT is always transferable to the other properties unlike MRTT.

For instance,

You wish to refinance same property after 5 years. If you bought MRTT for that particular property will be lapsed after refinance. And premium will be increased to current age.

For MLTT, the premium will remain at age you purchase whilst giving you full coverage til end of loan tenu

3. You can make payment for the separate entity

4. Should you sell the house, you may wish to terminate or remain the policy for your own goods.

5. You can opt to insured lower coverage at lower premium.

6. TPD coverages are for eyes, arms and legs. Claimable for a loss of arm and leg, loss of arm and eye and loss of leg and eye, subject to insurance company guideline

Definition for TPD is unable to perform at least 3 activities of daily living
a) Dressing
b) Bathing
c) Eating

Hi dear,

1. Yes. you can sign the loan letter offer first but it is better to apply earlier because there's waiting period.
2. The premium rate is depending on the coverage, your age and your health condition.
3. One name per policy.
4. The policy will still on going till you surrender or till maturity period
5. Yes. you can.
6. TPD covered if loss a PAIR of eyes, a PAIR of legs, a Pair of hands. TPD covered only if you cant do the following activities > bathing, eating and dressing

CHEERS 

Thank you.

Cimb also big bank rite.. drifted a bit from my main question actually hahhaa.. was asking wether anyone knows what different BR and different fixed rate of banks indicate. Hope some bankers can shed a light

Well should highlight it in cari instead of here though, don't think anyone knows him around here unless u got his contact number to leave behind, anyone can be named "Paul"

Done in cari. I'm only ly user. Wifey in cari.
Flaming not really my forte 😅
But yea thanks alot on the explanations regarding BR + spread rate really helps alot.

In related to mbb loan n interest. It means if we pay faster as in advance payment it will reduce principal directly right? Don't other banks do the same daily interest thingy?

Sorry if I don't get it straight from ur post ..really noo0b when it comes to numbers

The repayment of extra amount to your loan will reduce on your principle for all flexi loans. Once you've made the extra payment, the interest incurred to your account will be lesser, thus your loan tenure is reduced but your monthly installment remains the same.

So yes, it's same for most of the banks.