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Just sell old house, all in new house loan or , keep cash rich ?
TSLeft4Dead2
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Jun 17 2019, 02:10 PM, updated a long time ago
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Sold my property around 500k+ and planning to buy better place for around 600k+
Should i use the disposal proceeds to cover the new purchase price property ? Or keep the cash for my own first and let the bank take the my risk by getting full loan ?
Assuming loan interest around 4.5%+/- vs General investment return 4%+/- (max safe investment) - No business or gamble venture
I thinking what if i die early, i got no cash reserve to be given to family although with property. But if i keep the cash, even i died i got the cash reserve + property, right ? (since the loan going to settle by MRTA insurance anyway when i dead)
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maestrox_69
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Jun 17 2019, 02:13 PM
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Getting Started
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buy insurans/takaful to give family when u go
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ijan
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Jun 17 2019, 02:15 PM
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die early, property covered by MRTA
jgn bodo dun take MRTA, bila kena baru dengar bad news.
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tomato people
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Jun 17 2019, 02:25 PM
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Apply new loan
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jVIPERs2
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Jun 17 2019, 02:41 PM
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Take new loan...
Put the 500K in FD to pay for the new loan...
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fun_feng
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Jun 17 2019, 03:13 PM
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Nowadays semi flexi loan, you can just dump the whole cash in the loan to offset the interest.. when you need it you still can take it out
For flexi loan, there's a capping, so you could no longer do this..
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fantasy1989
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Jun 17 2019, 07:25 PM
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u got house? if you already have existing house then invest
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Showtime747
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Jun 17 2019, 08:09 PM
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QUOTE(fun_feng @ Jun 17 2019, 03:13 PM) For flexi loan, there's a capping, so you could no longer do this.. Capping and no longer could do this ? News to me. Can share the source ? Note : how come replies sound like from /k ? This post has been edited by Showtime747: Jun 17 2019, 08:11 PM
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fun_feng
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Jun 17 2019, 08:32 PM
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QUOTE(Showtime747 @ Jun 17 2019, 08:09 PM) Capping and no longer could do this ? News to me. Can share the source ? Note : how come replies sound like from /k ? https://forum.lowyat.net/topic/4600142/allIt was explained to me verbally from several bank officers You can only pay principal up to 70%, anymore and it has no effect to the interest... Different banks have different formula
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Cubalagi
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Jun 17 2019, 09:27 PM
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I was in this situation about 6 years ago, I split 50-50. Half I used to buy landed property and half to buy stock (Reit in particular) the Reit turned out to be an excellent investment decision and I exited in 2017 with nice profits. The landed property not so much, and still holding.
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Showtime747
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Jun 17 2019, 10:18 PM
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QUOTE(fun_feng @ Jun 17 2019, 08:32 PM) https://forum.lowyat.net/topic/4600142/allIt was explained to me verbally from several bank officers You can only pay principal up to 70%, anymore and it has no effect to the interest... Different banks have different formula Wow, things changed. Has been a few years since I take property loans. Now got new restrictions. Must as well don't call it flexi-loan if got such restriction because not so flexi afterall...banks misleading consumers... Thanks for the heads-up
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