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Financial MRTA vs MLTA vs Term Plus..., whatever they call it
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lifebalance
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 Nov 17 2014, 05:42 PM
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QUOTE(Felice821 @ Oct 9 2014, 04:38 PM) If I were to buy a property for investment purposes, means its going to be rent out 2 to 3 years after completion, then sell it. Should I obtain MRTA or MLTA? Do you plan to buy future properties after selling this one ? If yes, then it's more worth to buy MLTA because it's under your name instead of the said-property. MRTA is attached to the bank per property meaning if the loan is fully paid, the MRTA is burned and you must re-buy another MRTA for the new property. If you need advise can always msg or call me @ 016 332 3290 Keith |
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lifebalance
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Nov 17 2014, 05:43 PM
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QUOTE(justine4002 @ Sep 29 2014, 11:43 PM) Hi there, i singed up MLTA for 15 years with a bank together with my loan. The single premium stated is 11.5 K. Do i need to pay that amount annually? or it is taken care by the bank and is being charged to my monthly loan repayment? If you choose to financed it with your monthly loan for your MLTA, you've just doubled or tripled your cost because financing it under the loan will increase with the compounding loan interest which is not good for you because it will incur more cost. |
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lifebalance
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May 18 2016, 10:42 PM
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QUOTE(DE.si.MON @ May 14 2016, 09:55 AM) Hi, not sure if anyone ask this. I don't have time to read the whole thread. Is regarding MLTA and MRTA for 2 person. Cover 50/50 If 1 person die. What happen next? How will the loan be covered? What is the process? The next person still need to service the loan in full amount? Depends on how much you're covered for MRTA/MLTA for the person taking up the loan. If fully covered, then the loan is fully paid off. Let me know how I can advise u further |
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