Can anyone share their knowledge on some of my questions? Thanks!

1) which bank still provides refinancing solutions more than 10 years tenure? as i remember BNM had earlier issued a guideline that refinancing cannot be more more than 10 years tenure.

2) if let’s say the parents wish to sell a property at lower value to a child. although i know that it would be a better option if the parents transfer ownership under love and affection to their child first only then the child refinance from bank and pay back to his parents, but would this overall process until loan disbursements would take longer time than parents sell the property thru normal sales and purchase procedures to the child?

thanks sifus for answering my earlier questions! @Pac Lease @lifebalance

btw, does anyone here with OCBC / UOB mortgage? am applying for the semi flexi loan from both banks, yet to get approved. but understand from the market OCBC is running min 3.8% & UOB min 3.85%, both with mrta. asked the banker, both got no interest capping and no commitment fee for extra payments.

just wondering, are there any admin costs / processing costs / hidden costs i should consider when deciding between these 2 banks? else it seems that OCBC with 3.8% is quite attractive

May I know which bank offers u 3.85%? and is it a full flexi / semi flexi? also any interest capping? because these are my top considerations when deciding which loan package to go for

OCBC now offers promo rate at 3.8% provided you also purchase their MRTA/MLTA. if without MRTA/MLTA, the rate is 3.85%, but still subject to CCRIS scoring. From what I know, this promo is applicable for loan amount > 300k

besides, anyone can tell the differences between conventional mortgage vs islamic mortgage, apart from the islamic terms/wordings?

e.g. any extra costs need to pay for conventional loan but no need to pay in the islamic one, vice versa

wow, 3.8% is really low! may I know what’s your loan amount? did they require you to buy MRTA?

thanks for your reply! may i know which is the one offering you 3k mrta?

btw, i have just signed the loan offer letter with UOB, 330k loan amount with 3.85% interest and mrta 3.7k (the good point is the 3.7k can be fully refunded at the end of coverage period, provided i didnt make any claims during the period. the mrta covers dealth, permanent disability & terminal illness). as told by my banker, currently the bank is running a campaign to waive withdrawal fee when we wanted to withdraw the excess payment from the loan account (for semi flexi).

there are few considerations i will take into account when deciding which loan package to go for: low interest rate, no interest capping (as i wanted to settle the loan earlier), semi flexi (no need to pay set up/processing fee of RM200 & monthly maintenance fee RM10 like the full flexi loan), minimum mrta, lower total fees (SPA, loan agreement, valuation), and last but not the least, good services provided by the banker

for reference, i have also received the below offers:-
MBB - 3.9% semi flexi, mrta 1k++
PBB - 3.85% semi flexi, mrta + CI 7k
SCB - 3.9% full flexi （70% interest capping), no mrta

besides i have also shopping for other banks:-
OCBC - 3.8% with min mrta 2% of loan amount / 3.85% without mrta, semi flexi, no interest capping
RHB - lowest 3.85% semi flexi, min mrta, no interest capping
Alliance - 4.4% to 4.5%, semi flexi - 99.99% interest capping / full flexi - 75% interest capping, not sure about mrta
Hong Leong - lowest 3.9% semi flexi - 30% interest capping / full flexi - 70% interest capping, with min mrta
CIMB - lowest 4.05% (with min mrta) / 4.15% (without mrta), not sure any interest capping
HSBC - 3.85% to 4.03%, full flexi, must pay commitment fee if excess payment more than certain level of the outstanding balance, not sure about mrta
AIA - fixed rate loan, 1st to 2nd year 3.7%; 3rd to 4th year 4.15%; 5th year onwards 4.95%, no interest capping, must purchase MLTA (since AIA is insurance company), zero moving cost package available