Am going to refinance my property. Loan amount slightly under 400K.

all Bankers - pls PM me with your contact details, if possible.

Am particularly interested in knowing about packages that pay for my early penalty fees. tx.

which bank that easy to approve mortgage loan?
any info,

Early penalty fees? Should try Harimau Bank.

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Added on January 26, 2009, 5:13 pmWord of advise, go to the Bank's branch and get to know the credit officer who will process your application.

Tell him you are interested in acquiring an auction property and need to check if you can apply for loan.

This way, if he/she say it is ok.. if any prob, go back to that person.

This post has been edited by eric.tangps: Jan 26 2009, 05:13 PM

i am looking to refinance my housing loan.

property is at opal damansara, 1140 square feet.

looking at either refinancing 260k, which is the outstanding amount + penalty, or the highest amount possible.

any bankers out there can tell me their margin of finance and best rates?

thanks!

+/- RM3k.

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Added on January 28, 2009, 6:13 pmyou need to provide the details of the property and your income. Thereafter you may get a verbal indication of how much loan you can get but it is also subject to final approval as banks do not approve loans when there is nothing concrete. The bank also will need to do a valuation on the property to ascertain the loan amount. For easy calculation here's some guide for 30 yr loan based on 4.35%:-

100k - RM497.81per month
150k - RM745.72 per month
200k - RM995.62 per month
250k - RM1244.53 per month

Just multiply the replayments per month x 3 and if your income is sufficient and there are no other major liabilities then that should be equivalent to your verbal approval amount.




This post has been edited by DannyOP: Jan 28 2009, 06:13 PM

It is true that contract staff hard to get housing loan? If so, what need to be done to increase probability the loan getting aprroved.

in a way true also lor!!! but if they dun want to give u....they can give 1001 excuses also....i believe like :-

1)u r contract stuff or ur company is sdn bhd lah, then ask 3 months then not enough want 6 then 12months payslip!!!
2)u should get married to get combine salary
3)can only give X-10% of ur wanted loan lah
4)prove ur FD,investment and blah blah!!! the investment must be like bond and low risk, high risk will be rejected!!
5)if u have car or personal loan or CC then they will say u use to much credit and blah blah

end story they want to give u loan but X-(5 to 10%)!!!X is amount of loan u want

This post has been edited by jeffbong: Jan 29 2009, 04:25 PM

Hi all bank mortgage executives,
OPR has been slashed by 75 basis point about 2 weeks ago. Some bank had announced to cut BLR to 5.95%. What is the latest BLR by your bank? Thanks.

also looking for loan now..
hv a query on full flexi loan, in case we withdraw back the extra payment we've made from our acc will it increase our principal.. not sure how current acc work..
anyonce care to advise..

This post has been edited by kucaixx: Feb 2 2009, 01:17 AM

Refer back the links I posted back in: http://forum.lowyat.net/index.php?showtopi...post&p=22903244

public bank BLR now 5.95%

yesterday got call from bank

Hi All Bank Mortage Executives,

I'm looking for flexi loan packages for a property I'm planning to purchase.
Properties Price: 760k
Planning to Loan: 90%
Tenure : 30 Years

Please PM me with the packages you have. Thanks in advance.

can anyone or banker, pls let me know what is the best interest rate for commercial property now ?

I have a shoplot, currently still under loan with Public bank, and the rate was BLR MINUS 0.95, loan amount 160k

Thanks very much.

P/S. IT IS A SHOPLOT (COMERCIAL PROPERTY)

AFFIN BANK IS CURRENTLY OFFERING THE LOWEST BLR RATE WHICH IS 5,9 ONLY. ANOTHRE ADDED ADVANTAGE WOULD BE AFFIN BANK HAS THE LONGEST TENURE IN THE MARKET WHICH IS 45 YEARS OR UP TO THE AGE OF 75. THIS HELP TO LOWER DOEN THE MONTHLY INSTALLMENT AND YET REPAYMENT MADE FLEXIBLE.

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Added on February 5, 2009, 9:51 pm1)If you refinance your property, it is wise to do so after you have completed your lock in period which is usually 5 years. Otherwise a penalty will be charged as follows:
a) 5% of the loan taken if within 1st to 3rd year.
b) 5% of the loan taken if within 4th to 5th year.

2) In the event you are free from your lock in period, kindly advise the following details so I can advise your banefits & savings.

Current loan
- current outstanding amount with the current bank
- years paid
- current monthly repayment
- do you have MRTA
- current interest rate for the loan package

Features for the future loan
- with or without zero moving cost?
- tenure wanted?
- monthly repayment amount approximately?
- any other benefits you are looking at?

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Added on February 5, 2009, 9:55 pm1)If you refinance your property, it is wise to do so after you have completed your lock in period which is usually 5 years. Otherwise a penalty will be charged as follows:
a) 5% of the loan taken if within 1st to 3rd year.
b) 5% of the loan taken if within 4th to 5th year.

2) In the event you are free from your lock in period, kindly advise the following details so I can advise your banefits & savings.

Current loan
- current outstanding amount with the current bank
- years paid
- current monthly repayment
- do you have MRTA
- current interest rate for the loan package

Features for the future loan
- with or without zero moving cost?
- tenure wanted?
- monthly repayment amount approximately?
- any other benefits you are looking at?

---

Added on February 5, 2009, 9:57 pm1)If you refinance your property, it is wise to do so after you have completed your lock in period which is usually 5 years. Otherwise a penalty will be charged as follows:
a) 5% of the loan taken if within 1st to 3rd year.
b) 5% of the loan taken if within 4th to 5th year.

2) In the event you are free from your lock in period, kindly advise the following details so I can advise your banefits & savings.

Current loan
- current outstanding amount with the current bank
- years paid
- current monthly repayment
- do you have MRTA
- current interest rate for the loan package

Features for the future loan
- with or without zero moving cost?
- tenure wanted?
- monthly repayment amount approximately?
- any other benefits you are looking at?

---

Added on February 5, 2009, 10:04 pmIn order for me to furnish you with most accurate information, kindly advise me the following details so I can present to you what I can offer and the benefits and value you get in return

- what is the max and min margin of finance you are looking for ?
- what is the max and min tenure you are looking for ?
- current age?
- do you want to take MRTA?
- with or without zero moving cost?
- monthly repayment amount approximately?
- any other benefits you are looking at?

---

Added on February 5, 2009, 10:07 pmAt Affin bank we are offereing the lowest BLR in the market which is 5.9. In addition we also offer the longest tenure in the market.

1)If you refinance your property, it is wise to do so after you have completed your lock in period which is usually 5 years. Otherwise a penalty will be charged as follows:
a) 5% of the loan taken if within 1st to 3rd year.
b) 5% of the loan taken if within 4th to 5th year.

2) In the event you are free from your lock in period or willing to consume the penalty, kindly advise the following details so I can advise your benefits & savings.

Current loan
- current outstanding amount with the current bank
- years paid
- current monthly repayment
- do you have MRTA
- current interest rate for the loan package

Features for the future loan
- with or without zero moving cost?
- tenure wanted?
- monthly repayment amount approximately?
- any other benefits you are looking at?

---

Added on February 5, 2009, 10:09 pm1)If you refinance your property, it is wise to do so after you have completed your lock in period which is usually 5 years. Otherwise a penalty will be charged as follows:
a) 5% of the loan taken if within 1st to 3rd year.
b) 5% of the loan taken if within 4th to 5th year.

2) In the event you are free from your lock in period, kindly advise the following details so I can advise your banefits & savings.

Current loan
- current outstanding amount with the current bank
- years paid
- current monthly repayment
- do you have MRTA
- current interest rate for the loan package

Features for the future loan
- with or without zero moving cost?
- tenure wanted?
- monthly repayment amount approximately?
- any other benefits you are looking at?


This post has been edited by visa1288: Feb 5 2009, 10:09 PM

Yes you are right I got a call from public bank also they are the first bank to reply our clients after CNY. At this point of time most of our panel banks are very competive. The next criteria will be on the bank's service when you can't distinguish one from the other.

This post has been edited by DannyOP: Feb 6 2009, 07:08 PM

AFFIN BANK'S OFFER
If your 35 years old at this point:
Properties Price: 760k
Planning to Loan: 90% = RM 684,000.00
Tenure : 30 Years
Free Moving Cost : Yes
MRTA : No
Package with FMC : BLR (5.9) - 1.9
Note: If letter of offer is signed and returned to the banl within 3 working days, you can enjoy BLR-2 for the 1st 3 years.
Monthly repayment : RM 3266

If your 35 years old at this point: At we offer the longest tenure max 45 years or up to age 75
Properties Price: 760k
Planning to Loan: 90% = RM 684,000.00
Max Tenure : 40 Years
Free Moving Cost : Yes
MRTA : No
Package with FMC : BLR (5.9) - 1.9
Note: If letter of offer is signed and returned to the banl within 3 working days, you can enjoy BLR-2 for the 1st 3 years.
Monthly repayment : RM 2859

If your 35 years old at this point:
Properties Price: 760k
Planning to Loan: 90% = RM 684,000.00
Tenure : 30 Years
[B]Free Moving Cost : No[/B]
MRTA : No
Package with FMC : BLR (5.9) - 2.1
Note: If letter of offer is signed and returned to the banl within 3 working days, you can enjoy BLR-2.2 for the 1st 3 years.
Monthly repayment : RM 3188

Properties Price: 760k
Planning to Loan: 90% = RM 684,000.00
Tenure : 40 Years
[B]Free Moving Cost : No[/B]
MRTA : No
Package with FMC : BLR (5.9) - 2.1
Note: If letter of offer is signed and returned to the banl within 3 working days, you can enjoy BLR-2.2 for the 1st 3 years.
Monthly repayment : RM 2775

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Added on February 6, 2009, 6:58 pmWe at AFFIN Bank offers good and attractive benefits for our customers. Currently we are offering the lowest BLR (5.9) in the market. We also offer the longest tenure in the market 40 years or up to the age of 75.

Penalty charges for early full settlement or refinance are as follows: Most banks lock in period is 5 years.

1st to the 3rd year : 5% of the loan amount taken

4th to the 5th year : 3% of the loan amount taken

Current package : BLR (5.9) - 1.9
If letter of offer is signed & sent back to the bank with 3 working days, then you can enjoy BLR-2 ( for first 3 yrs)

Assuming your age is 35 this year
With FMC, No MRTA
Refinance amount 260,000
Monthly repayment: 1242 for 30 yrs
Monthly repayment: 1087 for 40 yrs





This post has been edited by visa1288: Feb 6 2009, 06:58 PM

Hi People,

I'm goin to buy a used condo unit worth 142k. If I put 20% d/p, cimb bank offer me BLR (5.95)-1.95 for 30years tenure. That said, my monthly repayment is about RM560 inclusive of legal fees.

I was wondering normally how much is the legal fees? I mean, the cost to hire a lawyer to do the S&P agreement...Addition to this, what other 'hidden costs' that I need to pay during the purchasing process?

Thanks in advance!

For loan amount less than RM 150k, best prepare around RM 3000 for SPA agreement.

and probably another RM 3000 for Loan agreement if you are taking non Zero Moving Cost.

There's a table for reference actually, as SPA and Loan agreement is charged based on percentage of the loan amount and transaction price. but i dont have the chart with me at the moment.

other hidden cost? depending on bank actually. some have some doesnt. Ask the bank officer who's attending you about any other charges on your loan package and write it down.

If its a condo then probably you'll have to take note about the Memorandum of Transfer, the charges of strata title if its yet to be issued. that will cost you a few thousand as well, but only when its has been issued. best check with the seller on this matter.

thats all i can think at the moment.

give me a call if you need any further details on the above.



Regards

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
Jalan T.A.R
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items;
FREE OCBC Mortgage consultancy
FREE Personal Loan consultancy

hi all,

will 0.1 or 0.2% diff in interest rate make much diff on u'r payment for a loan of around rm250k.
let say, this is for own stay and no extra payment been made for 30 yrs tenure.
any advise?

That's around RM20+- for each month. In long term, they are RM20x12x30 = RM7000+- For my advice, need to depends on the bank's term & conditions provided before you choosing a service.