If your S&P for the house is RM380K, how to get loan for RM380K?
Usually banks will give loan up to 80% or 90% of the house price stated in the S&P.
Do you mean the seller also agree to list the selling price of the house at RM420K in the S&P?

Hi,

I am currently negotiating to buy a house. I am taking a RM430k loan. I don't come back to malaysia much so not sure of what's the best mortgage plan around.

With the current BLR, would it be best to have a fixed rate throughout the entire loan tenure take a loan based on current BLR?

EDIT: ZEC means everything is being placed into the loan? This would be my preference.

thanks

actually its not the loan that charge you RM10/month, but because your Flexi loan is tied to a current account, so you are "forced" to pay to maintain that account.
banks actually get to earn a lot through promoting flexi loan because they can "cross sell" their other products.

banks tell you the advantage of flexi loan, they don't lie and it's true what they say, but in actual... will you require to constantly take out money and put it in again? and although u get the flexibility to withdraw your money, if you do it often enough, the savings becomes minimal and the interest you pay still more of less the same. other than that, they also hope you will also take advantage of their overdraft, and they get to earn more again. so flexi-loan is really suitable for businessman, instead of poor man like me

Which bank give better loan rate to flexi loan then traditional loan? I wonder.
From what i know is flexi loan normally 0.2% higher then traditional loan in the market.

The story in the article, is nothing to do with flexi loan. They commited suicide because they losing their fortune from investment. They not die for using flexi loan.
Business risk is mainly come from our judgement when running the business and business model itself. Does any one will take the bank as their main business risk? I believe there's no any company or shop that are not using bank to keep their money nowaday. Simply because the bank is still the best and safe place to put in our cash money. Even it's in our pocket, i feel not safe too. Any company owner or shop owner like to keep all their money in company or shop or pocket?

Using flexi loan is not investment. It just a service that bank offer to us. We wouldn't earn anythings from it. We only save somethings from it.

This is why seldom people go to full flexi's bank to take term loan. Both SC and HSBC straight away give you flexi loan once you apply loan from them. They are few banks that encourage people to use flexi loan. So if you asking for term loan, they might not interested to deal with you also.

I still not understand what's the relationship between business and flexi loan you tring to say here.
The example i show above is never link to any business account or whatever. It just assume that you put your monthly income which is RM5k and use up RM5k the end of every month. You put NO EXTRA MONEY inside the account or bank at the end of the month. I don't see anythings wrong or harmful or different to personal or our business. You just earn money and spend money as usual.

Yes, both semi flexi or flexi are usually using daily rest to calculate interest nowaday,unless stated in your Loan Agreement. In your example, YES, both package also shorten your tenure in the same time as long the interest rate is same. Because you paying the SAME EXTRA MONEY also. But what's i'm trying to show in my previous example, by using flexi loan, you can shorten your tenure even more by paying NO EXTRA MONEY to the loan.

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Added on May 21, 2009, 6:50 pm

How can we fail by using flexi loan? we are not investing our money in flexi to earn money, we just put our money that we usually put in bank, This time will be the same bank that we apply the loan, to save money in term of interest.

Yes, i agree that all the loan is the same, we borrow money and pay interest for it. That's what a loan is.

The con is not only troublesome. Did you count in the money you spend to make 2 trip to the bank to make the extra payment? One for summit the letter to inform the bank and second trip after approved to dump money, you need to go to bank and transfer the money. Parking? fuel? time?
I recall in the earlier post, some one get an offer from RHB bank term loan that even require us to pay 2% for the extra payment you make.

Reduce principal or clear up the interest, i dunno what's the different there, what's the different calculation we need in flexi loan? 

First of all, no need to apology la, we just sharing our opinion here only 

Yup, i totally agree with you. We need to have (1) and (2) in order to fully utilies Flexi loan and it's function.
It's same apply to credit card, it may be very usefull and save money if we have (1) and (2),

Statistic show that most of the majority doesn't have (1) and (2), and human nature are just born to fail above 2 requirements, But will this continue in future? Human will always learn from failure and improve from it. I believe this is why human is dominating the earth now. That's what i believe, with proper educate and by time, people will have better (1) and (2).

That's what's my job doing now for all my client. I wouldn't simply let my client to take flexi loan if they does not know how it works and what is it. I will always educate my client with banking info and how does mortgage loan working first. From there i can understand my clients needs and propose the best loan package to them. You and i know that flexi loan need to have (1) and (2) to enjoy the benefit,so do my clients. By consulting and educate my clients about (1) and (2),Mostly of my client will take flexi loan in the end, Simply because we know flexi loan does really save interest for us.

i want to refinance my home loan ...... which one is better,
do refinance with the same bank or with other bank.???

currently my loan is with cimb & plan to switch to mayban .... is it ok?? both give me same interest rate but mayban give 'no penalty fee'...

Let see here..

my steady income is around 4.5K/ month, can fork out up to 20k for downpayment. My age is around 24...

Should be able to get a 300k loan for a house ?

A simple answer would be great... Thank you

I think your calculation on installment amount is wrong le.

RM300k, BLR-2%,
30years tenure,monthly installment is only RM1356. 
15years tenure, monthly installement then only RM2153.
It's under 30% of the salary RM4.5k.

That's why earlier i will said no problem for TS to get the loan approve if there is no others debt in hand.

I just got offer letter from UOB.

This is for a non-zero moving cost housing loan, so I included my loan agreement fees/stamping, penalty I have to pay to existing bank, plus some money meant for the developer upon getting title. So I total it up and borrow this amount - lets say 450k. My actual balance is lets say only 400k. But UOB offer letter separate my current loan balance and the rest and name them as Housing Loan=400k and Fixed Loan=50k. Dont know why they do like that. Rate is the same but why two different accounts instead of one account. I asked them they say its for their own internal accounting purposes which I suspect something else is up their sleeve. I havent really gone thru the letter yet and its not easy to read all the mumjo jumbo.

Anyone with this experience with UOB? Im getting highly suspicious of them 

=.=
crap...
be nice to people, people be nice to you...
dozen of people apply...
attitude so F***, no body would care...
even if its a sales, doesn't mean i have to throw my dignity and let people scold or pressure.
As a consumer you must be smart, but not ego. Ask nicely and pressure people is different issue and both of this action receive different kind of treatment.

and please do remember we have authority to approve or reject without giving a reason.