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Household 2019 Real estate market situation, can buy property now ?
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yeddy7 P
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May 22 2019, 06:23 PM
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New Member
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QUOTE(Bjorn1688 @ May 21 2019, 11:44 PM) I usually buy a place only with full-flexi mortgage. That Bangsar semi-d for example was purchased by a full flexi 15 year mortgage. Each month the mandated repayments are RM4329. However every month I would pay in RM580 extra towards the principal amount. (From the rental while my dad took the rest)
On the 10th year, it was 4 payments away from the mortgage being settled in full and was remortgaged.
Sorry if this is a silly one cuz I'm not familiar with mortgage concepts. Just wanted to know more. only Full Flexi can reduce the loan tenure with advance payment. Can we do the same with Semi Flexi loan??
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yeddy7 P
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May 22 2019, 10:41 PM
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New Member
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QUOTE(Bjorn1688 @ May 22 2019, 08:31 PM) There isn't a 1 size fit all answer as different banks give different meanings to the term "flexi" and now am finding out there are also differences between how a bank defines "full flexi" as well. As a whole, most if not all with the term "flexi" in it you can do some advance payments to reduce your loan tenure but some now even on a full flexi will limit the amount of payments you could make. Thanks Bjorn1688 for your valuable advise  . Let me do the rest and find out more with the bank.
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