It's actually like he would help you calculate you expenses and earnings and see how much you can afford. Than help negotiate with bank on how much prepayment to pay. Than either cut short on loan tenor or reduce monthly repayment.

There's actually an existing company known as SUPEX which is currently doing this type of consultancy. But is hated by the online community of property owner's forum in M'sia. (Something to do with their hardcore selling tactics)

refer to this thread regarding SUPEX and my thoughts on it......
http://forum.lowyat.net/index.php?showtopic=582244
further more detailed thread would be in realestate.net.my namely this 2 threads:
http://www.realestate.net.my/forum/viewtopic.php?t=7555
http://www.realestate.net.my/forum/viewtopic.php?t=3240

you can also try surfing http://www.myrealestate.com.my/

I'm saying all this are basic homework that consumers had to do before committing into a loan, i.e research. But after committing to one loan, later than try to refinance, re-negotiate etc.....would be really time consuming and hassle.

Prepayment - 2 types like I mentioned. Either reduce loan tenor or reduce monthly repayment. Depending on cash flow and cash in hand.

I'm guessing your chart shows time line and how interest grows with it. So once you paid a certain amount and when, how the charts would grows lower etc......

But anyway, you can always zip it up and attach as attachment here provided it's not to big.

Like I mentioned.
2 ways of prepayment.....
But anyway, it's reducing of principal.
There's a false impression that every time one pays extra it's going to be treated as prepayment which is false.
One usually have to inform the bank that the extra money is actually for prepayment if they are on traditional/conventional loan. Than only the negotiation took place on whether to reduce monthly repayment or reducing loan tenor. That's the 2 way I talked about.

But lately, a lot of banks are giving competitive rates and flexibility. Thus to choose the right one from the start is very important instead of later. Flexibility comes when the bank knew that a lot of consumers out there are smart. Thus they have actually came up with "flexi loan".

Again, 2 type of flexi loan. One that allows withdrawal anytime via ATM like SCB, Citi, HSBC and those that needs notification eg OCBC, UOB, Maybank. btw, the first type would usually charge a monthly fee of RM10 for the added ATM facility and the latter would usually be free of charge unless upon withdrawal.

Flexi in the sense that whenever money is being deposited, it would actually minus of your principal but the additional money could still be withdrawn anytime. So now, with this type of loan; tell me how you are going to help reduce by your so called prepayment tactics?




p/s:cherroy, think more suitable for Property Investment Thread.

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.