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

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.

Since the MRTA is optional which do not affect the rates for both package, i decided not taking any MRTA but rather i approach my insurance agent to top up my life insurance accordingly.

I did submitted my application to HLBB as well by last wednesday (28/10/09) and i also mentioned my concern of rate in Nov, but she said as long as i submitted b4 Nov then should be no problem, do not true or not? supposed reply by today.

According to developer, the PBB was full quota for their development , so cannot get from them.

Wanna why they is quota for every development???

Too bad, may try for another 1 or 2 banks if same result, then forget about it. Normally banks will check what is the outstanding amt the owner owing the other bank if the debt still can be cover from the owner latest selling price (but must be within market value) then i think still got chance bcos the other bank also want to get rib of from the owner (borrower).

U also can try the owner's loan borrowing bank , if possible go together with the owner .

Dun be too happy 1st, always / sometimes in the offer letter stated the bank reserve the right to withdraw the offer/facilities without assigning any reason (esp. letter offer from HXBC) even though after signing letter offer but before drawdown.

Hi,all.

I notice the terms & conditions in the most letter of offer from bank (eps. in appendix attached) stated that they have the absolute discretion to vary the terms & conditions of the facility from time to time during the tenure.

Dunno why got such an unfair clause . IS IT MEANS THEY HAVE RIGHTS TO DO ANYTHING THEY WANT ???

IT IS PROVE THAT MORE MONEY MORE POWER , bcos we have no choice but to borrow fr them.