plus point isnt just ceiling rate, some bank's islamic package offers 0 year lock-in period.

Islamic HL has gone through quite some changes in their terms compare to the previous ones. It does look promising currently but i personally feel its too early to tell.

downside? bound to islamic regulations i guess... but any1 here studies shariah laws?

hi merce,

i would like to ask some questions about OCBC home loan semi-flexi.

1. what is the difference between capital account and advance account in term of functions and interest calculation?

2. if my installment is RM600, can i pay in stages i.e RM200 per week before the due date?

3. if i want to pay more to the principal do i need to inform the officer in the counter?

appreciate your reply.

I would not think the bfr / blr would increase in the next five year to a point where the ceiling rate would come into the picture. Any opinions on this?

Hi xa[V]ier,

Hi mcfird,

I've pm-ed you. Do check out your inboxes.

Malaysian who working in singapore need the following documents:-
1) IC & working permit/ PR
2) 3months payslip
3) salary statement
4) IR8A form
5) Notice of assessment
6) malaysia or singapore saving account

Standard margin is 90%. Please feel free to contact me. I am working at Public bank tower in front of City Square.

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Added on March 4, 2010, 2:42 amI am from Public bank. We cannot offer zero entry cost for you, but HSBC maybe can.

However, we can offer loan period up to 35years for you. 90%~95% margin also is not a problem.

About the interest rate, we try to offer lower interest rate to let you save back the legal fee you paid.

So overrall you get a better package versus our competitor.

This post has been edited by Bon Lee: Mar 4 2010, 02:42 AM

Hi all,

I read that banks will usually give home loan if the monthly payment is not more than one third of my income.

My questions are:

1. Is that 33% of gross income (before EPF, tax deductions) or net income?

2. Is share margin financing from non-bank stockbrokers such as OSK and Hwang-DBS included in the calculation of the loan commitment?

3. Are there any banks that will still give home loan if my loan commitment is 40% to 80% of my income? (PMs are welcome)

Thank you.

1)-Capital prepayment is a lump sum payment that goes to the the re-drawable account in your HL facility. You are still require to serve the installment for the month and also the following ones. This amount can be withdraw when you send a withdrawal request in the future.
-Advance installment is where the lump sum payment is structure as scheduled installments until the amount has been fully utilized. For example, if your installment is RM 1k per month, and you made an Advance Installment of RM 50k, your installment is covered for the next 50 months. However, it is non re-drawable. This is very similar to SI (Standing Instruction), except that SI is transaction from SA/CA to HL account, where else Adv Inst is direct from HL account to its own.

Both the above reduces the principal amount when it is credited into the HL account. So usually, we'll teach the customer how to split their money to capital and advance to minimized the interest, and save the hassle of making monthly payment manually.

2)Yes, u may pay in stages before the due date. Do make sure the total amount is sufficient to cover the installment amount.

3)Any additional amount you pay after the installment goes to the principal. If you wish to pay directly to the principal, just inform the teller (officer inside the counter) what type of prepayment you wish the bank to execute, ie Cap or Adv. If you are paying through cheque using the CDM (cheque deposit machine), just write a note at the back of the cheque to inform the bank the portion for installment/interest, capital or advance.

Take note that all excessive amount from your installment will be treated as Advance Installment if there is no instruction given.

Hope the above helps.

This post has been edited by merce: Mar 4 2010, 02:04 PM

i am having a loan with PBB. and also an internet account.
but i could not view my housing loan thru online? are there any way i can do so, as i wish to transfer money from my saving account in PBB to my house loan directly to offset the prinsipal...
thanks

The OCBC semi-flexi homeloan is good package if you're mainly thinking of making extra payments/withdrawals once in a while.

However if you're planning to make repeated payment & withdrawals of the extra payment amount, you might want to consider getting a full-flexi loan instead.

Roy,
012 2169026
teoengchin@gmail.com

mortgagebroker.com.my

thank you very much

hi all,
i wanna ask that,
can i buy a house together with my cousin?
i have been called up today and informed that because my cousin is not a direct relative of me, so the loan might be rejected as there are many cases before...
this mean that i cant buy the house together with my cousin?
thks

Your internet banking maybe only able to check saving account balance. However, you can inform your loan based branch to modified the internet banking to able to check housing loan balance as well.

After this, you will be able to transfer your money in saving account to pay housing loan principal.

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Added on March 4, 2010, 7:58 pmCredit officer will check with your cousin the rational reason that he stand as guarantor. Normally like whether he staying together so he will pay portion of instalment. But if credit officer feel uncomfortable on the reason, he can reject your application.

But if he is one of the owner, ie joint name on sales & purchase agreement, then he definitely can be join together on the loan.

This post has been edited by Bon Lee: Mar 4 2010, 08:01 PM

Hallo.My name is Jeff lim from price solutions subsidiary of standard chartered holdings.The purpose of this email is to briefly introduce myself as business financial executive of sme banking(commercial mortgage).I would appreciate any recommendations you can offer that customer need loan from bank or refinancing for commercial property. Thank you .My contact number=0124239797

This post has been edited by pekmolim: Mar 4 2010, 08:16 PM

Most banks will adjust BLR upwards from tomorrow onwards following BNM's announcement on OPR hike for another 0.25% just now.

Honeymoon is over!

i see,
my cousin name is added together in the purchase agreement, he is the first, im the second,
so it won be any problem?

but the CIMB banker told me the bank might reject our loan as we are not direct relative...she ask us to prepare it wo...zzz
sound cruel...

could you provide your email account.
btw. the house i am targeting is located in kuching sarawak.


hard to find housing loan agent from kuching.

my monthly instalment is 44% of my gross income and 2 of my loan applications has been approved, currently waiting for the 3rd one with the best rates so far. they told me that if other banks approve, then no problem with the rest.

anyway, a mortgage consultant calculated for me that as my 44% is still alright and approvable. i asked what if i take a car loan after this. he said that would be exceeding 50% of my gross pay already and not so good though.

owh no........was hoping to get the fix 4.99% for my 300k possible loan

Hi:
So have you got your mortgage consultant from ING? If you haven't, I'm one of them. Any inquiries you have can drop a message to cheahyang_0@hotmail.com and I'll explain to you in details. Thanks!

Anyone knows which bank offers lowest int. rate for home loan?

Thinking of refinancing 2 loans totalling rm700k.

So far, I found BLR - 2.1%

hello all,

appreciate some suggestions on mortgage package

-completed unit
-property value RM250,000 - RM270,000
-financing 90%, but if 95% possible ar?
-minimum 30years loan tenure
-26 years old
-planning to buy with partner, he's a govt servant, but i'm not. possible to get lower interest rate although joint loan?