Hi SowYau,


With you currently loan amount I could offer you BLR -1.9% for ZMC & BLR 2.0% for nZMC. If you are not looking for a overdraft facility, i believe semi-flexi conventional loan would suit you better.

Do let me know if you wish to know more about mortgage loans. You may reach me at my mobile or email.

Hope to hear from you soon.


Regards,


Merce Chua
Mortgage Sales Executive
OCBC Bank(M) Berhad
019 - 913 1127
ChuaCChie@OCBC.com

Hi,

Well i'm not sure whether is your "term loan+overdraft" different from "flexi loan", cause it looks like the same to me... but i'll explain the different between term loan and flexi loan in general.

You may refer to this link for the my post.



Do give me a call if you wish to know more.


Regards,

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Berhad
019 - 913 1127
ChuaCChie@OCBC.com

This post has been edited by merce: Jan 11 2009, 07:14 PM

For loan amount less than RM 150k, best prepare around RM 3000 for SPA agreement.

and probably another RM 3000 for Loan agreement if you are taking non Zero Moving Cost.

There's a table for reference actually, as SPA and Loan agreement is charged based on percentage of the loan amount and transaction price. but i dont have the chart with me at the moment.

other hidden cost? depending on bank actually. some have some doesnt. Ask the bank officer who's attending you about any other charges on your loan package and write it down.

If its a condo then probably you'll have to take note about the Memorandum of Transfer, the charges of strata title if its yet to be issued. that will cost you a few thousand as well, but only when its has been issued. best check with the seller on this matter.

thats all i can think at the moment.

give me a call if you need any further details on the above.



Regards

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
Jalan T.A.R
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
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Hi kucaixx,


Property Value - RM 215000
Loan amount - RM 193500 (90%)
Tenure - 30 years
Interest Rate - BLR -1.80% (ZMC) / BLR -2.00% (nZMC)
Loan account - Semi-flexi
Installment - RM 941.00 (based on BLR at 5.95 and interest rate of BLR-1.80%)

Semi-flexi allows you to do prepayment without notice, however for OCBC my advise to inform them what kind of prepayment you wish to proceed. Cause we have 2 types of approach, 1 withdrawable and the other not.

Give me a call if you need further details and i'll see what i can help you with.

actually if u put 50% FD ur margin is at 40% or less already. majority of the bank wouldnt mind loosen their guideline a little more since the risk assessment for them has been lower by a huge margin.



all Housing loan will appear in ur CCRIS... and i hate to break the bubbles, but the only housing loan that wont appear on CCRIS is the housing loan that isnt finance by any bank... go figure

and they have quite some high interest rates there...

So pratically, they have your record regardless where u go.




Psst~ Pai... pm me the details. xD

This post has been edited by merce: Mar 10 2009, 10:50 PM

actually there are quite a number of local banks offering full-flexi loan...

these are the few local banks who offer full-flexi mortgage loan, just to name a few;

1)Alliance Bank
2)CIMB Bank
3)Hong Leong Bank
4)Public Bank

and etc...



no offence, but i think you got the “terms” and “facilities” confused.

The term "Full-flexi"is a loan structure, it has nothing to do with principal reduction. It's one of the characteristic of a mortgage loan structures available on the market.

All 3 types of Loan structures (full-flexi, semi-flexi & conventional) have their own behavior of principal reduction, in which may also vary from the lenders or financiers themselves.


A bank definition's of "prepayment" is usually referring to a larger amount money meant for capital payment/down-payment than the installment amount, or the additional amount of money after installment. Whether does it contribute to ADVANCE payment, depends on the Terms & Condition and the Restriction of the loan itself.

Now go smack the banker who told you "prepayment" means advance payment.

Still, I do agree with meejawa. It's always better to do your study on Mortgage Loan before you approach bank officers. Understanding the Terms itself can and WILL help you to avoid unnecessary hassle, and to protect yourself from confusion.


Hope the above helps.

jhbey, i would appreciate if you do some research before you make any claims.

OCBC do have Zero Moving Cost.

Please check your loan package, whether its ZMC, nZMC or LVS package before signing or commit to any bank.


best regards,

---

Added on July 7, 2009, 10:25 pmOCBC has Zero Moving Cost, Non Zero Moving Cost & LVS Package (Finance Entry Cost)


Regards,

This post has been edited by merce: Jul 7 2009, 10:25 PM

hi,

1)the lesser the better. but again this is from my personal 2 cents.

2)to be honest, i never heard of such thing where 2 borrower can have a lower rates? what kind of risk assessment are we looking at? less possibility of NPL? perhaps you can double confirm on this with the banker, see whats his answer.


regards,

that never happened.

a missunderstanding perhaps? i just closed a ZMC loan less than 2 weeks ago.

depends on how u look at it...

as far i'm concerned... season investors seldom invest on the highest floor.

probably the 2nd or the third highest, but never the highest.

1)highest floor means you are just on the roof bottom, also means u r the 1st level of exposure if there's a leak during a storm or rainy days.
2)Heat... no matter how good the heat insulation are constructed, u r still next to the roof top.
3)Radio & satellite dishes, harmful waves etc etc?

my 2 cents.

i'm a little confused here...

can u elaborate how does a full-flexi loan's interest is always lower?

thanks.

no offence, perhaps you should check your facts before making that statement.

also a side note, whether if its a full-flexi, semi-flexi or a conventional housing loan, they ARE all Term Loan.

Zero or Non-Zero?

nope... i'll just study the whole package through out to know the product better.

rates are just number.

TnC is more important from my point of view.

yay~ another new mortgage index!

This post has been edited by merce: Nov 4 2009, 11:36 PM

For a daily rest loan, interest is calculated on daily basis where they will review the outstanding, as mentioned, everyday. If you credit the 4k on the 7th of the month, from there onwards the calculation will be taken from the new outstanding balance, ie outstanding - 4k. For the 6 days before that, interest is still calculated based on, in ur case, RM 200k.

For a monthly rest loan, it is only calculated on the a specific day of the month. In which u may not save the interest even if u credit an amount of money before that day.

see the difference?

hope the above helps

the selling point for a full-flexi is the linked account with the housing loan, which makes the withdrawal of additional payment a lot easier if require in the future.

however, the structure itself favors more towards those who are fully utilizing the linked current account, ie one who deals with alot of cash flow.

plus point isnt just ceiling rate, some bank's islamic package offers 0 year lock-in period.

Islamic HL has gone through quite some changes in their terms compare to the previous ones. It does look promising currently but i personally feel its too early to tell.

downside? bound to islamic regulations i guess... but any1 here studies shariah laws?

1)-Capital prepayment is a lump sum payment that goes to the the re-drawable account in your HL facility. You are still require to serve the installment for the month and also the following ones. This amount can be withdraw when you send a withdrawal request in the future.
-Advance installment is where the lump sum payment is structure as scheduled installments until the amount has been fully utilized. For example, if your installment is RM 1k per month, and you made an Advance Installment of RM 50k, your installment is covered for the next 50 months. However, it is non re-drawable. This is very similar to SI (Standing Instruction), except that SI is transaction from SA/CA to HL account, where else Adv Inst is direct from HL account to its own.

Both the above reduces the principal amount when it is credited into the HL account. So usually, we'll teach the customer how to split their money to capital and advance to minimized the interest, and save the hassle of making monthly payment manually.

2)Yes, u may pay in stages before the due date. Do make sure the total amount is sufficient to cover the installment amount.

3)Any additional amount you pay after the installment goes to the principal. If you wish to pay directly to the principal, just inform the teller (officer inside the counter) what type of prepayment you wish the bank to execute, ie Cap or Adv. If you are paying through cheque using the CDM (cheque deposit machine), just write a note at the back of the cheque to inform the bank the portion for installment/interest, capital or advance.

Take note that all excessive amount from your installment will be treated as Advance Installment if there is no instruction given.

Hope the above helps.

This post has been edited by merce: Mar 4 2010, 02:04 PM

yes, some banks had already imposed the above TnC, but not all.