Hi,

I have received a loan offer from HL bank called MortgagePlus. I will to have two accounts, one MortgagePlus loan account, one Current account.

Another bank (HSBC) offered me a loan, but I need only to open an account. Both are flexi loan, and any advance payment will reduce the interest on daily basis.

My questions are:

1. Which bank I can save more interest?

2. The one with single account or two accounts?

3. What is the pros and cons to have single accounts or two accounts?


For HL bank, there is a clause Computation of Interest stated that:

For the purpose of interest computation on the MortgagePlus loan account, any excess balance held in the designated Current Account at the end of each day will be utilised to set-off the following day's outstanding balance in the MortgagePlus loan account.

This post has been edited by victortan11: Oct 20 2010, 11:27 PM

as i know for HLBB, the credit balance in the current account will be used to set off the outstanding in loan account which in actual fact will incurred lesser interest charged by the bank due to lower outstanding loan amount & the current account is for you to withdraw the money by issuing cheque. but not sure how HSBC work.

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Added on October 21, 2010, 11:37 amhi all, interested to buy a house for investment. and wonder any banks will offer "ZERO lock in period" or if "ZERO moving cost package" still alive in market? thanks for info.

This post has been edited by serdan: Oct 21 2010, 11:37 AM

am intending to purchase a house around rm600k vide subsale.
agent confirmed bank can give valuation at rm570k.
any agent from any banks are welcomed to PM me your best rates.
my initial thoughts are going with financing from insurance firms vide their fixed rates scheme such as lock-in 30 years 5.25%.
i have previous loans with OCBC which i find their service is average at best. am considering banks such as cimb, hlbb, maybank, ocbc too.
would also appreicate if forummers can advise me the total fees expected from my purchase and loans eg. stamp duty, legal fees, etc.

kochin any reason for valuation at 570k while you buying it at higher price?

isn't you buying overprice property? or there is problem with the person valuating the location?

Hi, i just book a condo that price ard 260k. loan 80% ard 208k..My developer sales agent send loan application to HSBC bank only and get "orally" approve(BLR-2). but there are many other panel bank:amb,cimx,rhx,bsx,bank islxx...so i want to apply those bank also to compare their price. but the agent say nt advice to apply too much bank together.(maybe waste their time???). so can i roughly know what the rate they offer or other point of attract?so i can select the only bank that i interest to apply.

the agent is from HSBC?
for your loan amount, shud be able to get better than -2

actually different valuer of different banks provide different valuation... sounds techy....

it's all based on the last transacted amount of the same property

Hi All,

currently my income is around RM3k, will it possible for me to get a loan for a house between RM250k- RM300K?
if yes, possible for 100% loan?
and last 1, is there any loan package that can include the renovation cost?
eg. house RM200k, and i want borrow a RM250k?

and basically im a debt free as of now.

thank you.

great... 100% is ok.. but there is special calculation on the renovation loan

I think won't have a problem getting 100% loan.

Consider use your KWSP for renovation instead borrowing from the bank.

I am blur with rate -2, is it BLR 6.3% - 2% = 4.3% (Interest you have to pay)

yup...that is how u calculate the interest

God bless you epie.

Possible to get 40 years homeloan for a fresh grad like me who work not more than half year? and my fiance will be joint borrower *if needed, she only working for 1 month +. my property value is 240k. feel free to PM me

Yes. It's possible under the home graduate loan if I'm x mistaken. But u got to meet the requirement lay down.

1 year in the same company or total 2 years in the workforce... that is the requirements

am buying in a hot zone where demand is way bigger than supply. am searching for a decent place in the area for more than 4 months liao. agents told me some have been searching for more than 2 years.
of all the viewings i had, most are in deplorable condition or not very promising location (eg T-junction or main road or next to sewer pond or next to transmission lines or something).

those in valuation line please correct me, valuation is based on historical prices. therefore, they rely on transacted price to churn out statistics about pricing for a zone. eg. say taman ABC have 200 units where 50 units are located in bad area. and for the last 1 year or so, only 30 units were transacted under sub-sale where 25 units were bad units. and say the transaction for the good 5 units are rm300k/unit and bad units were rm240k/unit. what do you think the valuer is gonna give to the next guy asking for valuation within the same vicinity for a 'good' unit?

anyway this is just me telling myself i am not buying at 'overvalued' price to console myself. given the choice, i wouldn't buy it now but some circumstances are unavoidable for me to purchase the unit immediately.

where is the area?

pj ss2x

ic, the forever increasing area
sure will not lose money buying there, so no worries

This post has been edited by alexwsk: Oct 22 2010, 04:23 PM

for each and every single cent that i'm saving all my life, i hope so too bro.