i can testify to that abang roy haha

Last i checked maybank also has the first 3 years fixed rate 3.75% and therefter blr - 1.8-1.9. You might want to give that a try asap.

http://www.btimes.com.my/Current_News/BTIM...icle/index_html

Act fast, contact me ASAP to lock-in the Maybank rate

hi sifus,

i was told that there is a new rule concerning the full-flex accounts that are offered by the banks-: if you put in 70% or above into the account, the bank will charge an extra 1% based on existing amount in account. this is because the banks find that the full-flex products are causing them to loose money as a lot of people put in all their cash in the flex account.

example of what i mean

1)
borrowed 100k using flex account
i put in 100k into account
since it is more than 70%, 1000rm extra will be charged per annum ie 83.33rm per month
so final charge will be 83.33+10 = 93.33rm for that month

2)
borrowed 100k using flex account
i put in 75k into account
since it is more than 70%, 750rm extra will be charged per annum ie 62.5rm per month
the usual charge for the 25k = 83.33rm per month (assume 4% interest)
so final charge will be 62.5+83.33+10 = 155.83rm for that month

3)
borrowed 100k using flex account
i put in 50k into account
since it is less than 70%, no 1 % extra charge
the usual charge for the 50k = 166.67rm per month (assume 4% interest)
so final charge will be 166.67+10 = 176.67rm for that month
in this case the calculation is like the old full-flex package



would appreciate if anybody can confirm if my information is correct.

thanks

It's been apply for few banks for quite some time already. Some bank doesn't apply for this 70% offset which mean you can fully offset your loan balance to become RM0 to enjoy zero interest charge. So please check the Letter offer and ask clearly with your banker for truly full flexi loan.

And also please DO NOT fully believe what your banker tell you, do your homework or look carefully what is stated in the Letter Offer before sign anythings. There are too many banker that keep telling their package is flexi and bla bla bla. Which i find out it's NOT Full flexi loan at all. (Base on my client's LO and what the bankers told my clients)

Goodluck.

yes, some banks had already imposed the above TnC, but not all.

new fixed-rate package for limited time only...

OCBC Fixed Rate package!

3 years Fix Rate
Loan amount RM150k-RM499k
Year 1-3 : 4.40%
T/A : BLR-1.80%

Loan amount RM 500k and above
Year 1-3 : 3.75%
T/A : BLR-1.90%


5 years Fix Rate
Loan amount RM150k-RM499k
Year 1-5 : 5.15%
T/A : BLR-1.80%

Loan amount RM 500k and above
Year 1-3 : 4.7%
T/A : BLR-1.90%


10 years Fix Rate
Loan amount RM150k-RM499k
Year 1-5 : 5.80%
T/A : BLR-1.80%

Loan amount RM 500k and above
Year 1-3 : 5.40%
T/A : BLR-1.90%

Portability Loan is applicable!

Property market price = 300k
refinance loan amount: 150k
type: Condo near gombak
loan tenure 20 years
objective - to get extra cash as now loan paymen is 1.1k each month

Please recommend any package to me and with explain on why..

If this calculation is correct, means that if we really have extra money (mroe than 70k), we dont need to cautious about the 70% margin since the penalty 1% interest is less than the loan interest?

i think its not really worth it to put in beyond the 70% as the rest of the money will yield a better % if put into fd.
the 1% interest will be charged on top of the usual 4%(assumed) and that the 1% is calculated on the existing balance, not the remaining/outstanding balance.

assuming the 100k example and lets compare

1)put all 100k into flex account and the result is the bank will charge 93.33rm for that month (1%+10rm)

2)if however put 70k into flex and fd 30k then
outstanding amount in flex 30k 4% interest = 100rm/month
30k fd = 56.25rm/month earned (assuming 2.25%)
final charge = 100+10-56.25 = 53.75rm for that month

seems that option 2 is cheaper isnt it?

correct me if wrong

Hey, all.
Please advice.
Loan amount: RM125K
Loan tenure: Either 20 or 25 years
Type: Double Storey

Which bank has the best deal.

Where's the property?

To be very honest with you, for loan amount <RM150k, you will not get a very fantastic deal no matter which bank you go to.

Regards,

Hi Sifu,

Need advise.

Read BLR is going up trend.

Being offered for 500K loan:-

1) 3.75 Fixed NZEC 3 yrs

2) -2.05 ZEC 5 yrs

3) -2.25 NZEC 5 yrs

Is it worth to go for ZEC? Else EC about 10k.

Not sure how to calculate.

Can somebody enlighten me?

Thanks!!!

Hi pakhaighina,

First off my apologies that I couldnt help you with your loan as I'm not based in Penang.

Comparing (2) and (3), NZEC saves you RM4800 in interest after 5 years.

I believe your loan legal fee is much more, so probably more worth it to take ZEC if you only have a 5 years investment horizon.

But if you are planning to hold the loan for the full 30 years, then the NZEC will save you about RM20k in interest.

So I guess it depends on how long you plan to hold on to the loan to decide which is more worth it.

By the way, Package (2) and (3) from same bank? How come the loan officer was not able to calculate for you the difference to compare?

Regards,

Mr Roy,are u a property negotiator?

Hi Roy,

No worries. I'm glad and appreciate your advise.

This was told by a friend not a banker.

That's why I want to know.

What about 1 and 2?

Is it worth to pay EC for fixed 3.75%?

The property is in bangi, neway thxs. Gonna go around loan hunting ask every bank on monday

i received an supplementary LO stated that T&C for item no. 7 (loan to be released upon issuance of CFO) to be waived approved by RAM (MHC1M30).

guys, what is RAM?

I'm looking for good home loan.

Properties Price: rm170,000.00
Loan: rm153,000.00
Loan tenure: 30 n above
type: apartment @ seri kembangan

already paid the deposit
This is my first time
so no experience at all
looking for best rate for 5 to 7 years
as i planning to apply gov loan after that period.
pls advice
tq

This post has been edited by undazztood: Mar 20 2010, 05:46 PM

Nope, I'm a Mortgage Consultant. Giving independent advice on loans, and applying to the banks for my clients.

I'm not a property negotiator, but I'm a property investor =) So I've done my fair share of negotiating with negotiators.

Why do you ask? If you're looking for a good agent, I'll be happy to recommend a few.

Regards,

---

Added on March 21, 2010, 12:51 amComparing (1) & (2), (1) is more worth it if:

1. BLR goes above 6.8%
2. You have a 3-5 years investment horizon

Assuming BLR goes up to 7% within a year and remains around that level for 2 years, then you will be paying 4.95% interest vs 3.75% for the fixed loan. The different of 1.2% x 500k loan x 2 years = RM12k

However if you're planning to hold very long term then the lower rate for option (2) after the 3rd year will compensate for possible higher interest cost during the first 3 years.

Regards,



This post has been edited by R o Y: Mar 21 2010, 12:51 AM