hi, i need a mortgage loan for the property below:

property price: 250k (subsale: therefore i need the bank valuer to get min 240k value for this property)
loan: 90% or above

banker, pm me for more info

BLR fluctuate all the time... once you are lock in a loan, you can't make a move for 3 years or 5 years or 7 years. Unless you are willing to paid the penalty. If you want to do an accurate calculation, you had to apply the changing % of blr all the time.. so by choosing the fix rate, you are secure within that fix zone, even if the BLR pump up to 8%, its none of your business....

It is not about, what bank package is the best, it's about what package suit us the best.
Be it for investment or own occupied. This is why, we need to do research.

MRTA/MLTA.
BLR -/ BLr fix.
Legal Fees
Lock In.
Branch Convenient.
Tenure.
Purpose.
Location.
Legal Fees.
and so many more...

Don't rush like a bull, you might meet a bear.
steve see.

This post has been edited by yssee85: Aug 17 2010, 05:56 PM

Hi all,

I just submitted request to reduce loan amount using my account 2. After reducing loan amount using the account 2 transfer, the balance loan is around 80k. Want to re-finance my house so can have some extra money to do renovation. House is a one half storey end lot in Kota Pendamar Port Klang, renovation costs (major reno) is about RM160k. Total loan amount I am seeking is RM80k(balance) + RM160k(reno costs) = RM240k. Problem is I'm not sure if the house is valued that high.

Any advise? Which bank offering best deal currently for re-financing?

depends on your house price. best is to ask lawyer firm. I'm going to buy property around 304K. S&P fees and loan agreement fees around 8-9K . MRTA add more around 7K. Total almost 15K.

summore I need to pay 10% downpayment. Total 45K. Almost fainted at that moment


but since I prefer to have cash (15K) for emergency so I request the banker to include the amount into loan.

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Added on August 17, 2010, 10:11 pmchoose the one most convenience to go (near you house) or friendly banker

This post has been edited by saiga: Aug 17 2010, 10:11 PM

I heard my fren said Maybank set condition if BLR-OPR < 2%, Bank will change the rate to BLR+0%, instead of BLR-2.X%. Is this something new? How about other Bank?

-edited-
enuf offers oledi, thx so much

This post has been edited by alexwsk: Aug 18 2010, 11:39 AM

Hi everyone,

I'm Wing here, an Financial Adviser and Real Estate Negotiator. I would be able to helps on refinance your property and without trouble you to submit document to all the banks. Just give one copy to me and I will try to get a best rate for you. Please do call me at 012-9770788 or email me at choongkuangwing@gmail.com

Certain package I can get is without locking period for your property that will be encourage if you looking for investment or refinance again in the future. Moreover method on reducing interested will be taught to minimize your interest paid and maximize your gain.

This post has been edited by WingDeSole: Aug 18 2010, 02:25 AM

I understand the MRTA is merely to protect the bank and not so much the borrower if the property is in 1 person's name. Meaning if i buy a property and its in my name only and i dont take a MRTA and if i die, the bank cannot come after my wife or dependants. But if i take the MRTA i have to pay the extra few thousand premium and then if i die the MRTA pays off the remaining loan amount to the bank.

Can someone clarify?

pls PM me...thx!

Which housing loan protection to choose?
MRTA
Purpose : Protection against property loan.
Coverage: Cover the outstanding property loan on a decreasing sum assured basis.
Payment : Lump sum payment or finance with property loan.
Total premium : Lower
Nomination : Bank or finance institute.
Transferability : No.
Suitability : Property to be owned for long term.
Cash Value : No.
Claims : The outstanding loan will payout from insurance company to the bank and beneficiary receive property only.
* (certain cases, MRTA claim is less than outstanding amount, the different of the sum shall be paid by beneficiary. )

MLTA
Purpose : Protection/Investment/Saving.
Coverage : Cover the hosing loan in a fix level sum assured basis.
Payment : Paid by monthly, quarterly, semi yearly and yearly.
Premiun : Higher.
Nomination : Beneficiary can be anyone/company.
Transferability : Yes.
Suitability : Property to be owned for long/short terms.
Cash value : Yes.
Claims : At maturity tenure, beneficiary will receive property and cash value.
*In the event of death/TPD, the beneficiary will received (extra cash = Protection
Value - loan outstanding) + property.

Hi,

Any HSBC mortgage officers around?

Hi, I had various connection with different bank and banker. May I know do you have any question or need help on loan?

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Added on August 18, 2010, 7:09 pmActually you cant say the premium is higher for MLTA, in the actual case. The actual payment amount should be calculate according to finance standard than you will be able to see which one is worth to buy and which one is actually lower in cost

This post has been edited by WingDeSole: Aug 18 2010, 07:09 PM

Now MBB can offer whole tenure BLR-2.15/ 2.2 with MRTA (loan RM300k above)
lock in 3 years
finance up to 95%

contact me for more detail at 0122948810

Hi all,

Now EON Bank can offer BLR-2.2/2.3 for loan RM200K above
Lock in 3 Years
Margin of Finance 90%+5%

Just no hesitate to contact me.

Regards,
Kennyfow
017-3901802
fcpkenny_1983@hotmail.com

You didnt answer my question. I was told that if i buy a property and its in my name only and i dont take a MRTA and if i die, the bank cannot come after my wife or dependants. This is what i need clarification for.

Whats your rate without MRTA and with OD facility?

If the property and loan is under your name only and you have no MRTA, the bank wouldn't come after your wife if something bad happen on you, bank will only take back the property and lelong it to pay the remaining loan amount. Bank wouldn't ask your wife to pay for the loan, but your wife have no choice except continue pay the installment if your wife want to continue stay or own the property.

If bank said you can have the same S&P lawyer for loan agreement, from buyer's benefit perspective, which one is better? Go for bank's lawyer where anything wrong in loan agreement, they bear the risk or own lawyer?

-edit-

This post has been edited by neaevia: Aug 20 2010, 01:40 PM

Using the bank's panel lawyer will be ideal nowadays to cut down additional hassle and errors. Likewise, anything error will be bear by panel lawyer and bank. I had a close example where my client's loan agreement charges does not include charges to uplift title's restriction with land office and lawyer only noticed once after my client signed loan agreement. Therefore, bank have to bear the charges.