Hi guys, need advise on this matter.
I recently bought a subsale in my home town and my loan is with CIMB @ 4.90% p.a. and the loan amount is 180k.
I had zero knowledge at that time and did not do enough research. I was naive and believe that the rate is because the loan amount is low.
The loan is apply through an agent which is one of my relative's colleague. Is it possible for them to negotiate with banker for a higher rate so that they get higher commission or is that factor mainly from my credit rating?
I would like to know moving forward maybe after the lock in period, what can I do to lower that rate? Is refinancing an option?
Appreciate if anyone can input on this. Thanks.
High loan interest rate, need advise