disbursement depends on how long it takes for your loan lawyer to settle those documentation for the bank, probably 1-2 months

first loan payment starts the first day of the following month after the first drawdown

And, I am talking about subsale

pm 

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Added on February 10, 2010, 4:43 pm

pm 

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Added on February 10, 2010, 4:49 pm

sorry, actually not possible, cause your loan bank still have to wait alot document from developer, & their admin always late + you have to wait for developer bank document too, some time include the land office blablabla thing some more.. 2 week can done only in dream 

1 month loan disbursement is possible only if it is clean property which means that the vendor already fully settle the property & now he sell to you, then - possible.
remind - only possible, not 100%

Dear giggs_509,

It depends how you want to manage your property. Paying additional RM700 will eventually shorten your tenure. Assuming you borrowed RM378k, tenure 30 yrs and an upward adjustment of BLR by 0.1% annually (assume you have a flexi loan), it will give us a monthly installment of RM1804.63. If you pay RM700 extra on a monthly basis, you should have fully settle your loan by the end of 25th year with an interest savings of 124k.

If you consider to treat your house as a residential property and you stay in it. It is advisable to pay more if you can afford it (provided that you have free money which you have no idea on what to do with it). For ordinary owners, we would suggest to use a simple "rule of trade-off". Consider current BLR at 6.3% with your package termed at BLR - 2.3% (=4%), if you do not have any investment option that can yield > 4%, then you can dump your money into the loan account as an option for interest savings, however, if you do, it will be vice versa.

In the end, it is still personal preference as some of us might prefer to spend that RM700 to have a great meal every weekend. You can download the attached mortgage calculator which developed by our team which serves the calculative need of quick loan settlement. Just an add-on, if you do plan to pay more initially, MLTA might serve your need as it can be structured to become a protection with investment feature (generate >4%) whereby its generated cash value will show a much significant interest savings than simple dump-in in the future.
A
Have a good day and spend your money wisely.
Regards,

Chris, Looi
Lead Mortgage Consultant
Virtual Mortgage Consultancy
Home Save, Mortgage Division
6 012 6058817

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Quick Settlement Mortgage Calculator: http://cid-d0a9da8031b3e63f.office.live.co...lators?lc=17417
**Initial package is developed in Office 2007 environment, users might face some technical problems in Office 97-03.

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