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Latest mortgage rate for housing loan packages, All Mortgagers are welcomed to post...
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lengkwas
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 Oct 25 2010, 10:36 PM
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New Member
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hi experts,
i'm planning to refinance my property..
1. bought a condo in 2007, at danau kota area. current loan is affin islamic at BLR-1.5. I want to refinance to any islamic loan which can give me better rate( BLR-2+). need to get some cash also
2. current sales price is around 300k
3. my current age is 27 (preferred tenure is 30 years)
so, could you suggest which bank can offer better rate for me? thx.
also, do i have to pay any amount for refinancing, i.e. processing fee, etc.
i know that i've to pay penalty to the current bank, but can i absorb it into the new loan?
This post has been edited by lengkwas: Oct 25 2010, 10:46 PM
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lengkwas
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Oct 26 2010, 11:39 AM
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New Member
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QUOTE(y2kfirewalker @ Oct 26 2010, 11:05 AM) Hi Lengkwas, Since you are taking affin islamic, I guess your loan the loan must be based on BBA right? As far as I know, and if I am not mistaken, under BBA concept, rebate due to refinance or settlement before end of tenure is solely up to the bank (yes, they can give you rebate of 0.00001 cent/or none and ask you to pay for the whole agreed selling price minus rebate which is based on the full tenure)... Since you want to refinance, do you know how much rebate are they giving you? Is it comparable to conventional loan? I'm also looking for islamic loans, and from my research and interviews it seems BBA is 'dangerous' for the case of settlement before end of tenure/refinance.... Only advantage of BBA compared to MM (Musyarakah Mutanaqisah/Diminishing Partnership) is the capping of interest... Please advice bro.... Yes, my loan is based on BBA. Since I want to refinance within retention period, there is no rebate for me, but have to pay penalty some more. This is what the bank official told me. Also, the balance that I've to pay is not as per selling price because selling price is based on capped interest/ ceiling rate. |
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lengkwas
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Oct 29 2010, 10:01 AM
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New Member
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QUOTE(y2kfirewalker @ Oct 28 2010, 05:51 PM) Hi Alan, Sorry but there is already one OCBC agent applying for me, she is trying for bfr-2.5. The only problem is that she is not confident can appeal for more thann 30 years loan since max islamic loan under OCBC is 30. hi y2kfirewalker, can u suggest her to me? the offer is tempting.. for those who know, what is the current BFR? is it the same as BLR? i know that BLR is for conventional while BFR is for islamic loan.. also, for islamic loan you can take MRTT instead of MRTA.. what about MLTA? can be applied for islamic loan as well? |
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lengkwas
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Nov 2 2010, 10:36 PM
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New Member
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hi, anyone knows how long the bank take to cash in the extra money from refinance? thx.
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