We are always very open minded. My previous post is just to remind people so that not to abuse the forum side as their target of sales, rather than meant to share information and help each others. (we had enough already insurance agents, property agent, bankers try to make business through forum side).
Just like b00n and others said, it is much appropriate to paste or list some information regarding it and have a open discussion rather than through PM or email so that everyone would benefitted. In open discussion, we will have a pool of people to share their idea which only will make out best of it.

Cheers.

Yes, it is much suit to the property side. So thread being moved.

This post has been edited by cherroy: Dec 25 2007, 08:44 AM

TS, kindly email me ur further info on this topic, thanks!

my email : yklim023@hotmail.com

Boon,

So may i know are u signing a flexi loan package or u just the bank staff who seeling this package.
Because as we know the flexi loan is open a consolidates statement for the loan borrower and there is noted in the bank statement.
This consolidated statement is include of the two account, which is the flexi loan account for the housing loan, and another is for the current account that give u saving facilities.
If u are the loan borrower, the bank will post u a bank statement and show u some info of ur payment.
From there, ask urself do u know to analyze the bank statement or not?

Because from there, ur repayment money is actually go to the NORMAL REPAYMENT in flexi loan and the balance of ur money didnt help to repay the principal but just PARK it in the current account.
Whenever u withdraw the money it is just ur own money, but if u overdraft it, it will charge u interest because flexi loan is provide overdraft facilities.
Seems it is flexi, so if u dun pay for particular months, the bank will transfer the money in ur current account to make repayment then ur overdraft money will charge interest.

Thats all.

Aarrgghh...we're back to this *sigh*.

For flexiloan, interest is calculated daily and is based on (roughly - I'm not going to show ^365) this:
Interest = BLR * (outstanding loan amount - amount in current acc).

And some bank's flexiloan is overdraft while others are not. Just read your agreement - non-overdraft accounts won't allow you to withdraw more than you have deposited.

Loan with overdraft facilities is more appropriate for business people.

I work in the finance industry. No....I'm no sales person. I'm a risk analyst.
My current mortgage is with HSBC, and no...I'm not attached to HSBC.
Even for the RM10 charge per month, I'm willing to pay after all the consideration.

Regarding the statement, it shows me how much outstanding balance I still owe. And yes, I have my own armotising table to tele it. I've paste a simple amortising table in this forum before; can look it up: http://forum.lowyat.net/topic/559259

I've basically done my analysis on which one suits me the best and finally I chose HSBC. SCB had a good flexi loan but personally I have something against SCB thus I do not take them.

So it's good to share ideas on what we know and discuss it here....which is the main good thing of forums. Basically I have my fair share of debates in http://realestate.net.my/forum
Truth on Mortgage article...need urgent comments
Are Flexi-loan(s) Really Work The Ways Lenders Told Us ?
Pay Your Instalment On The "Correct" Day
Is "Daily Rests" = "Daily Compounded" ?
To Calculate Mortgage Interest From 1st Drawdown to Paid-off
Why lenders willing to offer fixed-interest-rate mortgage?
How to really manage your MortgageOne account??
(Advise) Best loan package in the market at the moment ?
can refer to those threads for more insights regarding flexi home loan and how others thinks of it; particularly this guy marxdean which I find quite informative but currently disappears around the same time as I do. Also a lot of information regarding loans and how it was calculated.



cherroy, sorry for the referrals. But I deem them quite informative regarding housing loans.
If inappropriate, pls feel free to delete.

No problem with it, as long as it is informative and not meant for sales or marketing, it only will benefitted to all.
In this way, this thread is more meaningful and useful in discussion.

Yup. thanks for all the help to getting some info at here.
Appreciate it.
Thanks.