Most people fail to realise something. I always advise ppl to stick to big banks. The reason for this is because they have a bigger spread of loans and capital. So if in 10 yrs u wanna refinance, a bigger bank will be able to provide you with a better refinancing package. When u talk about home loans you must always look to the future. Dont just look at the present and be satisfied with the rates. Banks are not stupid. They are there for 1 purpose only and that is to make money.

Most banks if they offer u a good rate there will be other small changes made in your loan document. Always read the fine lines and the small print. Never take things for granted. Always keep a min lock in period. This will give u more flexibility in case of emergency selling. Also do not take any of those free moving costs or include the MRTA. All this is designed to give the banks more money at your expense. Remember that all these additional amount is included in your overall loan amount and will be charged the corresponding interest over the period of the loan. So by giving you a RM10,000 free moving cost package, they are actually making RM 15,000 over the term of the loan.

then how come to cover any insurance in case anythin happen to you? mMm maybe noob quest here hehe.. sorry totally newbie about all this stuff..

You can get MLTA or increase your life insurance coverage for it.

yeap but then still need to pay for that rit?

much more than mrta

Bank Rakyat isn't like other banks though. It was setup by the cooperatives to provide financing to members nationwide and over time evolved into a bank. So unlike CIMB, Maybank etc instead of BAFIA 1989, they are bounded by a different set of laws. So not all banks are out to make pure profit. Bank Rakyat pays out 20% dividends to its members and has been increasingly successful over the years.

hello,

i've paid booking fee for a property, now looking for best rate other than panel bank (maybank) by developer..

house type: double storey terrace
developer: metro kajang

pls pm me to discuss more!

thanks

Of cause you need to pay for it. Nothing is free nowadays.

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Added on November 1, 2010, 10:15 amYes, MLTA will be more expensive if you compare with MRTA.

But MLTA provide you more benefit, extra feature, some with guaranteed surrender value and you will get back what you paid total up with extra interest for it. So it can be free also (when you get back the surrender value with extra interest some more).

So it's depend your need and do you like the benefit or not.

This post has been edited by onnying88: Nov 1 2010, 10:15 AM

Get a life insurance. Thats enough. Banks will always use the fear factor in trying to get ppl to sign up for MRTA and in most cases it works. Your MRTA is calculated based on the property value and included in the loan amount and charged interest over a period. It doesnt give u any interest. So its merely to protect the bank. How many ppl had to actually use the MRTA function anyway? Assuming you take a loan when ure 30 and assuming your death is at the norm of say 50 uve already paid off 20 yrs of your loan. How much is left? A very small amount. Ure better off saving and investing in other schemes. The money earned in other investments are more than enough for your family to pay off the remaining loan. So why give the banks this money and allow them to charge u interest on it? Thats daylight robbery!

jz to check, if an application was rejected by the bank due to the bankruptcy status and that the applicant's name has been cleared recently, can the applicant reappeal thru the said bank?

Correct if I am wrong.

You need to get the document from law firm because the law firm help the applicant to discharge from bankrupt status.

I think you can as long it is discharge.

U dont get the question that i asked. Hence, your answer does not apply to my scenario.

hello,

I've paid booking fee for 2 properties amouting to RM63k, PV Setapak, now looking for the Banks, the best Rate, first come first serve basic,
documents are ready, and you able to submit by today. so far, i have received HSBC email.

Requirement,
Joint name applicant, BLR - 2.4%
Please direct sms to me 0176494811. and send me your Email.
Urgent.

Urgent. fast.

Hi,

I'm eyeing on second-hand landed house valued at 400k. It's around 5 years old.
Just a few questions that I would like to ask on mortgage rate, as well as others

1. May I know if there is any bank that will be offering 10% downpayment and 90% loan? Please PM me if you have too

2. If yes, what will the package looks like, I'm looking for 30 years tenure.

3. A bit out of topic, but how much will those legal fee cost approx?

Thanks
-first time house buyer-

quite good rate oledi

This post has been edited by alexwsk: Nov 1 2010, 01:33 PM

hi all just want to ask is there any bank currently now offer blr -2.4 above for loan around more than 350k...

Hi,

I'm looking best rate for commercial property in cahaya alam U12.

Property details: 3 storey shop corner lot
Property Value: 1.58m
Loan up: 85% - 90%


PM me best rate that can be offered

Property details: SD Tiara walkup apartment, Bandar Sri Damansara
Property Value: RM150,000
Loan up: Maximum, I am 23yo.

PM me the best package, thanks.

Here is the answer:

1. OCBC do offer 100% loan with the T&C apply..

2. the housing loan wil be with the rate of B-2.3% for whole tenure and the balance with another interest rate.

3. u mean the SPA legal fees or the loan docs fees? U can follow the calculation as follow:

legal fees:

1st RM 150K - 1%
RM 150K - RM 2 mil :0.7%

Stamp duty for SPA:

1st RM 100k: 1%
Rm 100K - RM 2 mil: 2%

Stamp duty for loan docs:

0.5% of loan amount


Kindly PM or contact me @ 016 5988 379 for further details.

TQ
Alan

20% dividends - where does it come from?

1. Bank Rakyat used to monopolise the Angkasa deductions which commands a pretty high profit from govt servants Personal Loan. Only now, Bank Rakyat faces competition in this area - that is why 20 years Personal Loan now.

2. Another source is those customers stuck with Fixed Rate financing in the past, they are unaware and still stuck paying.

By virtue of any biz set-up, to continue paying high dividends require high profit - so, Bank Rakyat is still out to make profits. Just like Banks, dividends is paid-out to shareholders.