Only flexi loan accounts charge monthly maintenance fee.


They have semi flexi loan packages, depending on projects.

other than UOB which banks give blr-2.2 or lower for 150k to 200k loans?

Maybank currently offer BLR-2.2% for whole tenure
loan tenure up to 40 years or age 70
semi-flexi
can finance legal fee and MRTA
lock-in 3 years only

any enquiry can feel free to call me at

CK Chow
Maybank mortgage
012-2948810
Federal Territory

I have some options at the moment after checking with a 3 banks below.

Bank A

BLR -2.2
36 years
Lockdown 3 years (after 1st drawdown)
MLTR 5 years
Legal fees not covered, can be financed
loan exit 3%

Bank B

BLR -2.1
35 years
Lockdown 5 years (after full drawdown)
MLTR 5 years
Legal fees absorbed
loan exit 3%

Bank C

Option A
BLR -2.3
up to 45 years
Lockdown 5 years (after 1st drawdown) / 3 years lockdown BLR -2.2
MLTR 5 years
Legal fees not covered, can be financed
Loan exit 2%

Option B
BLR -2.0
up to 45 years
Lockdown 3 years (after 1st drawdown) / 5 years lockdown BLR -2.1
MLTR 5 years
Legal fees absorbed
Loan exit 4%

I'm still checking with other banks at the moment. Loan amnt is about 365k

This post has been edited by r47z: Sep 23 2010, 01:49 PM

can you pm me the contact no of the bank officer.
how much is your loan?
i want to apply for my property price 230000.
any bank officer also invited to pm me.

Reply had been moved to Article 4. The illusion of lower interest in tiered mortgages: Does a lower interest rate mortgage always mean the best?

This post has been edited by home_save: Dec 20 2010, 12:30 AM

Dear lazzy_dogg,

You could expect blr -2.0 ~ blr -2.2 for your loan size, unless you are the priority customers of the banks. Then you can bargain for more.




This post has been edited by home_save: Dec 20 2010, 12:24 AM

Thanks home_save for the explanation.
Can help me to clear some doubts?Actually we really confused on which to take.

a)is the above calculation based on assumption blr will not increase?

B)since it's semi flexi for bank 2,if I every month dump in more,will I save more interest as compare C?

C)let's say blr increase four times in this 3 years ie 0.25 each time,then my interest rate will be 5.05 for bank 3.end up, I will be paying more right?


Appreciate your advice.
Many thanks.

This post has been edited by childish_gal81: Sep 24 2010, 07:32 AM

Hi gal,

(i) Calculation above is based on the assumption that BLR is going to rising till 8.1% by the end of the tenure (average of 20 years' record)

(ii) Based on the computation above, BLR -2.25 package save the most interest. If you prepay on a regular basis, it will save more.

(iii) Yes, for BLR -2.25% package. The major concern over the three packages are "what is going to happen within the 1st 3 years" & "what is going to happen for the remaining 27 yrs"

Reply had been moved to Article 4. The illusion of lower interest in tiered mortgages: Does a lower interest rate mortgage always mean the best?

This post has been edited by home_save: Dec 20 2010, 12:30 AM

HI,

Thanks for the reply.

Just to correct my understanding.
So, the bank 3 rate will only be good if the BLR increase to 6.8% next year.
Correct?

If BLR = 6.8%, then for Bank 2, the interest rate for 2nd and 3rd year will be 4.55.
Means from bank 3, I can save 0.15.

From year 4th onwards, bank 2 and bank 3 should be the same right? cos bank 3 also BLR-2.3 thereafter.

Hi Gal,

(A) IF you just consider the 1st 3 yrs,
For Bank 3: if BLR>6.65% for the 1st 3 yrs (it happens earlier then you enjoy more), then you are better off.

(B) Let say 2moro BLR =6.8, for the 1st 3 yrs
Bank 1: 4.15%
Bank 2: 4.55%
Bank 3: 4.4%

Bank 1 means the most for the 1st 3 yrs, but for remaining 27 yrs, considering blr stand at 6.8 as well, it will be a different story:

Bank 1: 4.9%
Bank 2: 4.55%
Bank 3: 4.5%

Bear in mind, 10~20% of total interest had been paid during the 1st 3 yrs, so you must be able to save up more during the 1st 3 yrs.

© 4th yrs onward, interest payable for 2 & 3 is quite similar as majority of your monthly installment is going to knock of principle instead of serving interest.

Hope it helps.



This post has been edited by home_save: Dec 20 2010, 12:31 AM

guys, im a first time buyer. Looking into a property around rm200k to rm250k. How much is the installment. And what should i look for such as blr etc. Not sure higher or lower better etc.

Let me know! Thanks

hmm..

This means the first 3 years are actually more critical.
So, the lower the interest should be better.

Does the tenure makes difference here?
Bank 2 = 35 years
Bank 3 = 40 years


If we plan to sell off this property after 5 years, does the above still applicable?

Residential
For Semi Flexi package - 100k above
BLR-2.20%
Log in – 3 years

For Fully Flexi loan
BLR-2.20%
Log in – 3 years

Loan more than 300k above
BLR-2.30%
Log in – 3 years

Commercial,shop, etc
BLR-1.90%

If you require any further information, please feel free to contact me at 012-356 5776 (Carmen Tee)
Thank you and have a nice day

Hi Gal,

Uncertain about your questions are directing to which concerns. I assumed you are talking about the length of tenure against your plan to sell off your property. Tenure and installments might have their own implications based on what is your plan and intention.

If you intend to sell off the property after 5 years, Bank 2 will be better serve your purpose. Consider you aim for profit in disposing your property with BLR stand still at 6.3% throughout the 1st 5 yrs.

Sales price: 110k, loan amount: 100k, After 5 yrs, house priced at 120k

For the 1st 5 years,

Bank 2:(BLR-2.25)
Total Monthly repayment: 26,747
Interest paid: 19,559
Principal paid: 7,188
Outstanding balance: 93,016

Sell your house at 120k, 120k-93016-26747 = 237

Bank 3: (Fixed 3 yrs- 4.4%, BLR -2.3%)
Total Monthly repayment: 26,161
Interest Paid: 20,887
Principal paid: 5,274
Outstanding balance: 94,726

Sell your house at 120k, 120k-26161-94726 = -887

If BLR goes beyond 6.65% after 4th years, scenario might be a bit different especially if BLR reach 7%.

Hope it helps.



This post has been edited by home_save: Dec 20 2010, 12:31 AM

can i know which bank provide full flexi loan for loan amount 150k-180k? whats the rate like for that bank? currently i only know PBB.... please help

I might also need to get the loan of about RM210k..

Hi,

If BLR goes beyond 6.65% after 4th years, it will be the same for Bank 2 and Bank 3 right?

Anyway, thanks for your kind advice. Will think about it carefully before I sign the dotted line..sigh..all plans got their pro and cons..

Yup, since you are going to sell off your property with 5 yrs ~ 6 yrs time, the difference between Bank 2 and Bank 3 is not that significant. Please take other terms and conditions into consideration as well as certain facilities might restrain your flexibility (ie. the terms of prepayment). Since you do plan to sell off after 5 yrs, you can assume that BLR won't rise beyond 7% within 6 yrs (as for the past 10 yrs, BLR does not breach the cap of 7%) and build up your plan based on this. Read through the whole letter of offer carefully and compare among them.

Most important, build up ur goal, stick with your plan and choose the best option.

If you do need help in evaluating the LO, just give me a call and we can meet up with your bankers and talk about it.

---

Added on September 24, 2010, 10:35 pmHi forumers,

PBB is the best option of full flexi now for the loan which ranged 100~250k. At most, quoted at BLR -2.2% without MRTA (normally, BLR -2.2% must with MRTA), I can negotiate with the manager for it, provided your credit profile and overall commitment is at a reasonable level.

Give me a call if you need help on this.



This post has been edited by home_save: Dec 20 2010, 12:32 AM

I refinance with HSBC Full flexi package and recently got all the paperwork done and approved. I received a note from the bank on Progressive Drawdown Advice, telling me that there is a projected interest of RM300 amt due mthly. What the heck is this?? I know this is not the mthly installment because the note also says this has been released on my behalf for Sept's payment.

Can anyone advise?