It will be 70% of the valuation.

Hi, sir, your current interest rate 3.8% is consider good rate and no need to be refinance at this moment unless your intention is to get cash out.

Sometimes client request for refinance is due to want to transfer the house ownership to other party and another party wish to take up the loan via MOT, mean memorandum of transfer.

Example, parents age is old and retire with no income to support the loan. Hence, some of my client will apply the refinance loan via transfer their ownership of the house to their children and the children will become borrower of the loan.

Ptptn is no issue for apply refinance provided got letter from ptptn to show u already restructure the loan or fully settle ur loan.

Normally will be take 2 to 3 month to disburse. Depend how fast land office respond.

Is depend which industry u work with. There is certain industry bank do not do the loan even u are employed or self-employed.

Every bank have their own scoring system and bank will not refer scoring fron ctos system.

any refinance loan inquiry are welcome to ask here.

you can apply for top up loan instead of refinance the whole loan. BLR-2.4% is depend what is your effective rate now. Now market interest rate is around 3% to 4.9%

example, your house value at 500k, outstanding loan is 250k. Hence, Margin of finance is 90% which is 450k.
450k-250=200k

So you can apply top up loan for 200k. Subject to your house value and your income and commitment.

Ya, u can check with ur existing bank for the top up loan.

1. you can try apply internal refinance with the same bank. Subject the bank fpr approval.
2. Refinance tenure is up to 35 years or age 70
3. tenure is up to 35 years or age 70

[quote=shetty,Mar 26 2021, 09:30 PM]
Hi TS. Is it advisable to get refinance/top up loan to purchase another property? Current property value is 400k, currently serving outstanding loan of 190k with 3.1% interest.

[/quoyou may straight away apply for housing loan instead of apply refinance or top up loan.

for those who would like to know more about refinance, feel free to drop your comment here.

Dear Customer,
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Hi, I serve klang valley client at this moment.

Hi, happy new year to everyone. If you are looking for home loan refinance may contact me or discuss here.

Sure. Is depend on your current property market value. For example, your current home loan value at 200k, you can cash out 100k, maybe using it to settle other commitment like credit card or personal loan even car loan. Hence, your commitment will be combine into 1 loan account.

if your previous MRTT still got cash value. You still can get refund from the insurance company.

Is depend on the bank loan interest rate package. For home loan interest rate will follow the existing rates. For cash out portion for debt conso is higher than home loan.

you are most welcome.
MRTA already is a fixed amount during loan application for loan coverage amount or we call it as face amount. the insurance coverage will be reduce for every years and depend how many years for the loan coverage.

normally client can do refinance and cash out as standby use.

As long as property market value got increasing and there is enough room for cash out and match the client cash out amount then will be good to process.

some property more than 10 years, market value increase like 50% to 100%. some new completed property within 5 years, maybe is drop 10% to 30% also.

hope the info above can help you.

this loan process is call remortgage. Max margin is 70%.

happy new year 2023A. feel free to ask for refinance matter here and i will advise it accordingly.