Dear Cybermaster,

I had received a phone call from your friend this evening. As there is not much information about the unit, I will have a check on its value tomorrow as the gap of value for this particular apartment is quite big and provide an estimation of the loan amount which available to him.

Meanwhile, I will engage him and have his profile as this will influence the rate given by the banks.

Thanks and enjoy your Merdeka Night.

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Added on August 31, 2010, 11:48 pmDude, is this 1 Jun 2009 post?

I think BSN latest offer should be over here




This post has been edited by home_save: Dec 19 2010, 11:32 PM

this is wat im looking for, u got pm.

Dear HomeSave,

I was wondering whether the Zero Moving Cost (ZMC) like the one offered by BSN means legal fees will be included in the loan or the fees are actually paid/waives by the bank?

Are there actually packages where legal fees are actually paid/waives by the bank? Thanks. I'm currently looking for a homeloan.

Dear y2kfirewalker,

For ZMC, there are 2 plausible scenarios:

1. It might be totally born by bank, however, with a relative poorer rate (for example, non-ZMC is at BLR-2.2 while ZMC at BLR-2.15)
2. The legal is financed into the package and you pay them indirectly through installment (hidden)

To be frank, banks won't simply be worse off without gaining something.

Please let me know if you do need help in getting a homeloan. Thanks.


This post has been edited by home_save: Dec 19 2010, 11:32 PM

Price war for housing loans has begun


KUALA LUMPUR: There may be a new round of price war among banks for consumer loans, with the new mortgage rate going down to as low as base lending rate (BLR) -2.3%. The current BLR rate is 6.3%.

Some analysts said this comes as a surprise to the market after a mutual understanding was reached earlier to set a minimum rate of BLR-1.9%.

The new mortgage rate is now down to BLR-2.2% since end-July and some banks have started offering BLR-2.3%.

A home loan officer from CIMB Bank Bhd told StarBiz that housing loans have been revised downwards.

“Previously we were offering BLR-1.9%. Now, we are revising the rate to BLR-2.1%. We had been losing some market share to foreign banks and decided to join in the price war,” he said.

The BLR is a minimum interest rate calculated by banking institutions based on a formula which takes into account the institutions’ cost of funds and other administrative costs. The BLR is measured against the overnight policy rate (OPR). This year, Bank Negara has raised the OPR by 75 basis points in three rounds of rate hikes points to 2.75%.

This means that the BLR also goes up by 75 basis points to 6.3% currently. The BLR is one of the major components used by banks to determine the pricing of home loans.

StarBiz called up the customer service departments of some of the major banks for verification. While rates change depending on the mortgage taken, some banks have become very aggressive in their rates.

It appears that CIMB’s rate is now BLR-2.1%, Hong Leong Bank, OCBC Bank and UOB Bank is BLR-2.3%.

While the website of Malayan Banking Bhd shows that it is offering BLR-1.8%, one of its home loans officers contacted said it could offer up to BLR-2.2% depending on the loan taken.

Then lets join the fun!

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Added on September 1, 2010, 2:15 pmDear All,

My service is to help you to get the best mortgage deal disregard residential or commercial. A lot of you out there would like to source for the best offer in terms or margin (80%?90%?100%?), tenure (30,35,40?), legal fee, interest rate, and also MLTA. I'm a mortgage broker, so let me and my team assist you with our best effort and experienced. Giving you a hassle-less one stop solution.

These are the most competitive rates, (rest of the banks that I did not mention, we also able to provide you the service. Just ask..)

OCBC
a) BLR-2.3% whole tenure (300k above)
b) Yr1-Yr3 fixed 4.15% (300k below)
Yr4 BLR-1.90%
Yr5 BLR-1.15%
Thereafter, BLR-2.1%
UOB
a) BLR-2.2% whole tenure (100k above)
b) Yr1-Yr3 fixed 4.2%
Thereafter, BLR-1.9%
STChartered
a) Flexi BLR-2.1% (200k-500k)
Flexi BLR-2.2% (500k-800k)
Flexi BLR-2.3% (800k above)
b) Yr1-Yr3 BLR-2.3% (300k above)
Yr4-Yr5 BLR-1.3%
Thereafter, BLR-1.9%
RHB
a) Yr1-Yr5 fixed 4.15%
Thereafter, BLR-1.9%
EON
a) FDR+1% whole tenure (200k above)

Currently we are giving away give voucher from our own pocket as well! A small token appreciation of support, EVERY RM250k loan will entitle for RM100 petrol vouchers.
Still more to go, EVERY RM2000 MLTA's premium will entitle for RM150 cash rebate!

In order to qualify for gifts, all you need to do is email your details as of format to us at busymortgage@gmail.com,

Name:
Contact Number:
Property Address:
Property Price:
Margin:
Ideal Interest :
Tenure:
MRTA/MLTA:
Legal Finance: Yes/No

This post has been edited by wilz: Sep 1 2010, 02:22 PM

wilz,

currently on BLR -1.95 but still in lock-in with RHB. loan amount exceeds 500k, outstanding above 300k. for refinancing - can i get BLR -2.3 or should i just talk with RHB (which apparently hasnt yet joined the "war"). do you negotiate rate adjustments with banks too (what's the price)? if i can get RHB to give me BLR -2.x then i'd be happy.

thanks

of cos u can nego with RHB. but they sure will extend the lock in period since u want to get better rate.
else refinancing , u can get extra cash out.

Pjusa, refinance within the same bank I don't charge cos even normal mortgage I don't charge. You can refinance to some other bank for better rate. But that also need to depend on how many years left in lock in period, then how much is the penalty if refinance to another bank, plus new legal charge if refinance to another bank. If all factors include and you think its considerable, by all means do it.

Even negotiate rates I can do but your loan still within lock in so RHB won't entertain. Normally, case like you, I will charge - difference percentage of old rates and new rates X total loan amount. Not everyone willing to pay that. =)


edited by b00n: Removed all the stupid "You got PMed!"
advice: this is not you personal selling thread. Even our sales section doesn't allow "You got PMed". PM is known as "Private Message" so keep it PRIVATE!

This post has been edited by b00n: Sep 6 2010, 04:59 PM

wilz,

u pmed those with >200k , y never pm me?

Name: -as is-
Contact Number: tba
Property Address: f5l2, fuschia block, selesa hillhomes resort, bkt tinggi, bentong, pahang.
Type: 3r2b apartment, serviced n guarded.
B/up: 1240sqft
Property Price: 162k
Margin: 90%-100%
Ideal Interest : blr-2.2% or fixed 1-3/5yrs
Tenure: 40yrs
MRTA/MLTA: mrta (to finance)
Legal Finance: ZEC or to finance

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Added on September 2, 2010, 3:41 ami hv similar experience (at lower LA)
they wont bother even u request. they only stretch ur tenure to your desired repayment amount. my rate was blr(6.75)-0.78% last time n when blr drop to 5.55% i request to match the rate to currently offered. they lowered my repayment but the rate didnt change at all. felt like being conned by RHB right in my face!

better change bank. saving gain minus penalty amount is what u need to calculate. at least BSN got HAPPY BSN HOMELOAN with ZEC - as simple as Balance Transfer.

just my 2cent.

This post has been edited by yuszairi: Sep 2 2010, 03:41 AM

wilz,

u pmed those with >200k , y never pm me? 

Name: -as is-
Contact Number: tba
Property Address: f5l2, fuschia block, selesa hillhomes resort, bkt tinggi, bentong, pahang.
Type: 3r2b apartment, serviced n guarded.
B/up: 1240sqft
Property Price: 162k
Margin: 90%-100%
Ideal Interest : blr-2.2% or fixed 1-3/5yrs
Tenure: 40yrs
MRTA/MLTA: mrta (to finance)
Legal Finance: ZEC or to finance

Pls don't misunderstand me. Less than 200k also I will do, just that your property is out of klang valley and selangor. The loan need to be done properly with pahang branches. If you want my opinions I still can share with you. Cheers!

Is It true that different Bank will have different Valuation of the house? The different is very big 40k-50k

Property Address: Armanee, damansara damai
Type: duplex condo, intermediate unit
B/up: 1645sf
Sales Price: 320K
MOF: 90%
Tenure: 30yrs
MRTA/MLTA: tba(joint application)
Legal Finance: ZEC or tba

Dear Dedade,

It should be more precise to say that each valuers of banks MIGHT provide different valuation for a unit. It is crucial to note that you must provide all the important details to bankers or consultants when you intend to buy a house which has a comparative higher price than its neighbors. Renovation details, costs, furnishing will heavily boost a unit price. Consider that you provided full set of details to Banker A while ntg for Banker B, definitely, Banker A will come back to you with a higher value while the latter will be poorer as the valuation will be done with assumption that it is a standard unit (bare unit, totally kosong with ntg)

Normally, there will be only a gap of 10~20k difference among the results yield by valuers. If more than that, there might be either (1) an inconsistent of information that you provided to different banks or, (2) simply, the bankers do not tell much about valued added features of your property to the valuers, or, (3) the valuers do not take into account of renovation details.

Hope it clarify your doubt. Thanks.



This post has been edited by home_save: Dec 19 2010, 11:33 PM

Chris,
Can u check and tell me what seems to be the problem with this condo: Pelangi Indah, Jalan Ipoh. Seems that most banks not providing loans for this condo. Its already 15 yrs old and a friend of mine is trying to purchase from the 1st owner.

Hi bankers,
Please quote me the rate for the following:

Property price: 518k
Location: Taman Putra Prima, Puchong
MOF: 90%
Expected completion date: July,2012
MRTA: no need
Type: 2 storey link house 24*65
Legal fees: ZEC or tba

Did u bought the grd floor unit? My frens dad selling his unit 330k complete signature kitchen kitcab etc...

Hi


If my budget is RM1200/mo, What is the price of property I can afford? Repayment period is 40 years if possible.


Thanks

This post has been edited by mutt: Sep 3 2010, 02:47 PM

my loan for a condo in KJ area juz been approved..
d loan is for 330k(90% loan)...n i got BLR-2.3% for d whole tenure..
but d lock in period is 5 years(which i dun mind since im goin to stay in tht house)...
its from OCBC bank..
mayb u guys shud giv a call to any bankers offering d same deal..
i think its d best deal in town for now..
cheers!

2.3% is awesome..

i manage to nego with the Maybank up to 2.2%
but the loan not approve yet.