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> What is/How to calculate BLR and interest rate?, Please show a sample calculation/explain

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khhong88
post Jun 20 2010, 02:01 PM

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Joined: Jun 2010
From: Kuala Lumpur


QUOTE(g r a p e k e y @ Jun 18 2010, 01:57 AM)
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1) Check out the simple calculation of monthly loan repayment at http://property.simedarby.com/Home_Loan_Calculator.aspx.

2) Current BLR is 6.05% for most of the major banks, however, some banks may vary, eg : Al-Rajhi bank's BLR is 6.35%.

3a) The loan packages bank offering now is mostly at BLR -1.8% to -1.9% for loan amount below 500k, BLR -2.0% to to -2.1% for loan amount 500k & above for residential property.

3b) The loan packages for commercial is at BLR -1.5%, depends on your financing amount.

4) Meanwhile, pls note the legal fee for loan agreement, valuation, MRTA/MLTA & fire insurance will be borne by you. However, legal fee & MRTA can be financed into your loan.

5) The financing margin is 90% for residential & 80% for commercial property.

6) The maximum loan tenure is depends on your entry age. Most of the banks offerred 30 years tenure. However, some banks may approved up to 40 years of tenure or age 70.

7) The stamp duty for first time buyer on Sales & Purchase agreement (SPA) & loan agreement is discounted 50%.

I can recomend a very good lawyer firm for your SPA & help you out on the loan packages based on your financial background & your future planning. It's free of charge!

Please feel free to email me at khhong88@gmail.com if you need further advice or assistance.

 

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