Hi guys, i am not a agent. Just an investor. For those of you who are looking to buy your first property, look up this website first to give u a rough idea of the costs involved.

http://www.fiscal-wise.com.my/mortgages/HousingLoan.aspx

Many ppl think that buying a house only involves the property value. Its not. There are many other costs involved e.g downpayment, lawyer fees, bank loan fees, renovation costs, moving/shifting costs, etc.

I would also strongly advise AGAINST buying a higher value property with 2 names. My rule is that if u cant afford it on 1 salary then its not meant to be. Using 2 incomes to purchase a property is risky. You need extra liquid cash for any emergencies that may arise. So be patient and invest well.

Property development is a very risky business but it can deliver good returns if u are smart enough. Do not be in a hurry to make a purchase. Always investigate everything before committing.

I just visited the Iproperty fair in KLCC over the weekend and although there were many good projects but there were also some that were very high risk.

Just my 2 cents worth.

The rate is not that important. The terms and conditions are more important. You have to be careful. Many banks offer attractive rates but its the terms and conditions that may drown u later on.

I managed to get my 15 year loan mid last year for BLR - 2.3% from Maybank with 3 yrs lock in. Its a flexi loan with OD facility.

Yes agreed. Its not a full flexi. But as long as it offers a OD facility i guess its fine.

Its always good to select banks with a larger customer base. Will come in handy during refinancing in the later stages if required. Its also easier to negotiate loan rates with bigger banks as they have more flexibility.

I always recommend against getting a Zero Moving Cost (ZEC) loan package too for the simple reason that is is not free. Its just that you do not pay it upfront. This amount is included into your loan and then bank charges interest on it for the next 20-30 years depending on your loan tenure. So if u can afford it, then just take a Non ZEC type loan. The rates are also better.

Is it a Zero Entry Cost package? Full flexi? How much is the early settlement fee? What is the available loan tenure?

You can ask for the bank to waive its valuation. I managed to do it with Maybank and was told that the bank cannot offer to waive. The customer must ask for it first.

400K for a leasehold serviced apartment??? Poor investment!

Please provide more details e.g loan tenure, margin of financing, lock in period, flexi or non flexi, OD facility?

Right now my loan is on BLR -2.3% from Maybank. So effective interest rate is still only 4%.

Wow...BLR - 2.4%? Thats really good. But what were his terms and conditions?

Thats maybe for staff. We're refering to external customers.

Are u trying to say im lying? The rate i got was BLR 2.3% for the WHOLE TENURE. Just cuz u dont know doesnt give u the right to accuse others of not telling the truth.

My loan was obtained last year when rates were still quite good. Rates have dropped since. Plus i got my property evaluation waived, no MRTA, no insurance (as paid on my own), 3 yrs lock in, 3% early settlement penalty. BLR-2.3% for whole tenure. Flexi loan with OD.

Yes if there is a big difference. At that time i worked out many different options with different banks. The best seemed to be BLR -2.3% for the whole tenure. Anyway, my loan period os only 15 yrs so not much risk there. If the rates go up too much, ill pump in some liquid cash and settle the entire loan.

Yes i dont think can get anymore.

My property was RM 470K last year when i bought it.

What were your terms and conditions PKY? Loan tenure, MRTA, Insurance, lock in period, early settlement penalty, etc

Which condo did u buy?

If this is OCBC's package, the UOB would be better since its BLR-2.2 for the entire tenure. What are your terms and conditions?

Then you should ASK before making ASSUMPTIONS and ACCUSING.

Did u just get it? if so i dont think its a good offer as the best i think is from OCBC BLR - 2.3% or 2.4%