i heard from both mbb n pbb saying all bank will revise the rates to a 'flat' -1.8% yesterday.

can any1 define the word 'flat' ?

Can everybody here when talking about mortgage rate for housing loan packages ,pls also dun forget to mention the following things:

i) whether it is zero cost entry (ZEC) / free moving cost (FMC) where legal fees & stamp duty paid by bank or NZEC / NFMC where borrower to pay incl. financied by bank to u.

ii) Fully Flexi or Semi Flexi or Fixed rate plan


this always has an interest rate different of 0.15% to 0.30% p.a. which is quite a lot if loan amount is high.


This is easier to do comparision. TQ

Indeed that the news is true. All banks will have standardized rate for mortgage loans starting from November 2009.
No more competition on who is offering low interest rate. Now the competitions is on service.

Good luck.

I'm going to sign the offer letter from OCBC tomorrow. NZEC+MRTA but the legal fees is financed into the loan package. 1st - 3rd years BLR-2.3, BLR-2.4 there after. 30 years tenure.

wat the... mine is -2.0 1st to 5th yr.... thrafter -2.4... can u tell me how u nego wit them?

edit: mine is ZEC, din know the legal fees can be financed... is loan application ammendable after approval?

This post has been edited by hAnn: Oct 31 2009, 02:39 PM

ermm.. click my siggy... haha

Our bank can provide you the facility without using BLR as a benchmark

This post has been edited by ahnien: Oct 31 2009, 07:26 PM

Hi, all. Am a newbie on the Mortgage Loan. I don't really sure on hows the loan calculates, rates, and banks offers.
Perhaps any expect could explain to me.

I have just make a booking for a condo. I have paid 3% for the booking.
Here is the details:-
Completed Non-landed, Value- RM275k, and i have paid 3%.
MOF-80%, target 35years.

Can anyone please give me advise?

you can ask your banker to do so... but will take another few days.

I didn't nego with them, they straight away gave me this rate. The MOF is 90% too. The ZEC package they gave me is BLR-2.0 for 1st 3 years and BLR-2.4 thereafter.

That is a very good rate jarjar6666. My fren got from OCBC last month only -1.75 for first 5years and -2.4 thereafter. Maybe coz only loan 200++k but still diff alot from -2.3

Anyone can offer me the best package rate?

Loan : RM190K
Tenure : 30 year

Kindly email me: wingyan25@hotmail.com

Ya lor chester. CIMB also offered me but the rate is BLR-1.85. I've signed the OCBC offer letter just now . Maybe my loan is 390k so the rate is better.

Criteria for better rates :-

1. Higher Loan Amount --> Better Rates
2. MRTA included --> Better Rates


This post has been edited by eric.tangps: Nov 3 2009, 12:13 AM

Dear All,

Can someone introduce me to join direct under bank for mortgage line? I am now in outsource but find it difficult to cope as i am new to this line. Please be kind to help me on this. Please pm me for infomation. God bless you all with your kindness...

Hi...wanna get some tips...

My house loan is 100,000 blc at abt 7% interest (2001)
I'm gonna pump in RM60K of KWSP money in the 100K blc...
So that leaves me with RM40K..

Since the interest is low, i can get refinancing for Rm120K and get 80K extra money at 3.75%.

Question is, is it wise to use the money to pay off my car.
My car loan blc is 25K at 3.75% interest rate...monthly abt RM745.

The rest of my money I use to pay off Credit card and stuff.

Thanks in advance for the help.

you have to take the risk you wanna do it. car loan interest is already fix from the 1st day you get the loan, and BLR fluctuation didnt effect it.

housing loan interest can be affect. what happen when BLR go up?

the remaining cash use to pay credit card and personal is worth it lah...

Thanks for the reply...I will try to do some homework on it when I get back

Dear all,

Recently , i m looking for the housing loan amt ,

detail:

1) condo
2) under construction
3) 90% MOF ie. around 200k
4) ZEC
5) maximum tenure possible
6) my age 32
7) prefer fully flexi


Currently, i hv bn offered fr 2 banks as below:

1)fr CIMB BLR-1.75%, ZEC , optional MRTA, 38 years tenure, fully flexi, lock in 5 yrs, 3% penalty
2)fr HSBC BLR-2.00%, ZEC, optional MRTA, 31 yrs tenure, fully flexi, lock in 7 yrs, 3.5% penalty

Fr above, the rate fr HSBC , of course better than CIMB, but shorter tenure (mean higher commitment), and longer lock in period & higher penalty (hold longer which mean pay more interest b4 let u go away or penalty)

for me longer tenure is better bcos lower commitment and since fully flexi, i bear the same interest amt at the end of day if i pay installment based on 30 yrs calculation instead of 38 yrs calculation. Thus, no different but lower commitment just in case financial tight in future.

But hsbc got one more disadvantage is they hv lesser branch & ATM outlet compare to others local banks making troublesome for withdrawing , when we choose fully flexi, we always want all our money& income incl monthly salary bank in there first and hold there longer possible and slowly possible withdraw it for expenses in order to save some interest althrough the saving is very minimum but "sedikit sedikit jadi bukit"

So, now i m in dilema in choosing btw them, perhaps someone can advise me, or any better loan interest rates than CIMB & HSBC.

Try calculate 38 years and 31 years.. There is at least RM100-00 difference and the MRTA would be a huge jump if you fully secure your loan tenure with MRTA. Who wants to buy 5 years MRTA whereas your loan is at least 30 years though it is cheaper.

I would go for BLR - 2%. Did you try with HLBB/PBB?

Make sure you still can get the rates and features. The new packages effective 1 Nov have rates from BLR-1.6% to 1.8% max and no more ZEC. If you sent in the application before this date then you're fine.

---

Added on November 3, 2009, 9:37 amThis is a no brainer. Unless your HP loan is dirt cheap, it's almost ALWAYS better to use the top-up cash to pay for HP. Remember, 3.75% in HP is effectively closer to 7% pa interest rate. While the home loan (non-Islamic) gives you the effective rate from day one.

This means, if you don't refinance, both your home and car carries the same rate TODAY. Refinance, and the whole picture changes.

This post has been edited by meejawa: Nov 3 2009, 09:37 AM