Hi, friends.

I'm thinking to buy a house.. 1st time buying property.. no experience.. hee... My budget is around 250k lor. Any new projects that can recommend to me?

I've gone to Kinrara there for a new project, nearby Giant. It is abt 255-260k, Condo with full facilities. Any comment abt this location? if condo, any thing that I should alert? What should I check before i purchase?

And also, any banks that are offering good package? Any commendation??

Pls Arigatou!!!


Warmest Regards,

Siew Kim

This post has been edited by sk_lim_taurus: Mar 13 2009, 09:46 AM

if u may, pls mention the project name, it's easier to comment

Thanks for your comment. It is Zest at Kinrara.

if can...dun buy condo lar...
later no market value and can't sell out then u cry
try to look for landed property...I'm sure u can get landed property around 260K

260k landed? do u know anywhere?

if possible, landed will b 1st choice lo.. but.. not yet found. most r around 300k.. cant afford ner..

if u know any, pls tell me, can? TQ~~

No one will buy condo if they can get landed property. Everyone like double storey, freehold, good location ... then 260k?
Any recommendation?

yaya.. agreed...

if is condo, wat will b ur concerns before buying it? i'm worried if i commit to wrong project.. 30 yrs commitment..

any advice for me?

Hi...budget of RM250k..if i were you,i would go for landed properties..double storey,terrace houses etc

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Added on December 11, 2008, 11:13 pmAs in home loans,you can check it out/ survey around...
Currently alliance bank is giving BLR-2.20% for the 1st 2 yrs and thereafter BLR-2.00%..depending on the loan amount..

Mortgage consultant.

This post has been edited by parven: Dec 11 2008, 11:13 PM

Hi!

I agreed, landed is much better than high rise project. Do you have any recommendation of current project? Any landed that around this budget? Pls recommend... thx

Hi

Im not really sure bout under con properties going for the budget of RM250k,i think they r kinda expensive..

If you are ok with completed properties (subsale),then you can consider at seri kembangan or puchong side...if you're ok wit the location.

It depends how deep inside Seri Kembangan and Puchong. if is far inside, then might not convenient for me as I work in town area. What is your recommendation? Do you have the project details so that I can refer to?

Theres a list of different packages from diff banks under the topic latest mortgage rate for housing loan packages that is pinned up. As far as i know it is still up to date.

I heard different news from frens. Some said the packages will drop next yr but some said there will be good package next yr. some even said that the MOF will be only 80% max.. ai... confusing...

anyhow, thx a lot. I'll go to tat forum to check. TQ~~

This post has been edited by sk_lim_taurus: Dec 15 2008, 01:05 PM

Near Kinrara Giant got new project meh?

Yup. It is so call The Zest at Kinrara. Are you staying nearby there? How is the environment there?

My friend, Andrew, currently work in that project. would you like to go thru the project details? i can send to you.

I've asked a few friends (from other developers) to visit the project and advise me. emm.. so far, my friends said is good. the only concern is it is a new project. will be some risk lor. haa... to be frank, most of the staffs work for developers don't believe new project. they rather go for completed or at least 80% done.

I'm just wondering will there any other detailed issue that I've not gone thru.. 1st time buying property.. haa.. no experience

so, pls give any opinion. it really will help. TQ~~

i think double storey terrace house at lestari perdana, near to equine park still can get below this price.
Just, the road condition now is bad. It is not fully completed yet.

near Equine Park? but most are lease hold ler... i'm working in town area.. so if going to KL, which route that I should use?

do u know how much is the double storey and how big is it?

you may check out the double storey at puchong hartamas...if not mistaken some of it is below 300k, but ofcos its smaller unit..
i did check out tat area b4...its quite good...very near to the bandar puteri.. but if u r working in kl then its a little far..

I stay near there but didn't notice any development. BK5 to be exact.

ooh... Puchong Hartamas.. In fact, I have friends that purchased few units in Puchong, i guess is around Bkt Prima Puchong.. (hee.. not sure the name ) It is double story. nice development and only 290k. next yr feb 2009 get CF (might be earlier than that). I did impress when i 1st visit it 6 months ago. but my consideration is the location. at least take me 1 1/2 hrs to work. tat's y give up lor. i'm not sure whether it will be the same project that u mentioned?

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Added on December 16, 2008, 6:02 pmsorry.. u mentioned that u 'stay near there', where actually u meant? Puchong or Kinrara? emm... what is BK5 stand for?

This post has been edited by sk_lim_taurus: Dec 16 2008, 06:02 PM

Kinrara Giant. BK - Bandar Kinrara, seksyen 5.

ooh.. then is really near to the project lor. it is a new project. just having soft launch abt 2 weeks ago. the official launch should be around Feb 09. when u pass thru the main road, just besides Caltex, emm... opposite 'Hup Seng' (not sure is this name or not).

r u staying in the double story there? how is the environment there? do u like to stay there? if i decided to take the project, then we can b neighbor liao.. (even thought still got a distance.. haa...) but i really wish to know whether nice to stay there or not.

Hi Guys..

Zest @ Kinarara 9 is Service Apartment, its built on commercial title and on freehold land.. There will be 720 units in 3 blocks on a 5.6 acre land, quite high density I think.

Location is good. In future, there will be a ramp built to link the opposite road into Kinarara 9, that will make the accessibility even better.

Price is reasonable IMHO.. about RM200 per sqft.. ranging from 1110 sqft to 1213sqft. Better than Setia Walk which is going Rm 320 per sqft

Developer is Trinity Towers, the one who built Heron Residency.

Each unit comes with 2 carpark, great plus point.

No landed property can go below RM 250,000 in Kinarara area, unless area like Tmn Kinrara or Puncak Jalil.

I am very attracted to this project, but commercial title.. kinna set back for me ..

visit their webside www.thezest.com.my and their office in Bandar Puteri for more info.. cheers

Hi, Eugene.

Could you tell me what actually is the difference of commercial and non commercial title? I only know that the electricity and water charges are expensive. Others not really know. haa...

TQ~~

p.s.: Are you agent from the project?

This post has been edited by sk_lim_taurus: Dec 30 2008, 09:24 AM

Hi,

I am not an agent.. just tat i came across this project.

There are tonnes of info regarding the different of land title in the internet and its just too much to elabroate here..

I am also still learning here and I had just requested the developer to feedback on any chance of converting the accessment, quit rent, and utilities tariffs to residential rate just like what is being done for e-tiara subang jaya and viva residency jalan ipoh. setia walk is also trying to convert to residential rates (according to setia walk sales person).

I would suggest that you pay a visit to the sales office @ 37, jalan 1/2, bandar puteri puchong (opposite giant). As agents always says:" view it to appreciate it "

Good luck~

OIC... So is there any possibility for the conversion?

In fact, I've been visited their office last 2 weeks. So far i'm satisfied. most probably will lock an unit there. but before confirm the purchasing, i still wish to get some advice. some more need to go thru some details and the loans package...

What is your opinion after run thru the project. Pls share your point of views, +ve or -ve also can. TQ~~

This post has been edited by sk_lim_taurus: Dec 30 2008, 02:46 PM

Maybe I will lock a unit as well 1st, a lot of research about to do before they call up to sign the SnP by end of february.

If the developer refused to convert it to resedntial rate, it will be a big no no for me. There are other things to consider like the surrounding and future development around kinrara and bukit jalil. kindly note that bandar kinrara is at the edge of selangor border and alam sutera (beside bandar kinrara) belongs to kl. There are some draft plan in the klcity2020 plan for bukit jalil area and it also play an important factor for amenities and property appreciation.

With the current economy situation, buying under construction property also kinna risky..

Anyway, just look in the price 1st.. den decide later..

good luck

hie..
i'm from Standard Chartered and staying Avilla Apartment Puchong jaya..i know a lot of agents,if u dun mind u can look for subsales like Aseana Condominium @ Bandar Puteri rm300k-rm400k or Avilla Apartment rm190k-rm220k@
Puchong Jaya, these 2 projects actually is just completed not long and low density =)
another choice is Casa Desa @ Tmn Desa also not bad..also just completed not long =) price is around rm280k-rm380k

if u got any questions regarding housing loan,do give me a call

Seow Yee
Standard Chartered Bank
Mortgage Sales Executive
012-2073139

it sounds like not secure if taking commercial title.. i'm not too sure abt the differences yet. but there is a kind person PM me and sent me a link. maybe you would like to go thru.

http://www.hba.org.my/main.htm

i'm also doing some study now. if there is any updates or alert, pls share with me, can? TQ~~

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Added on December 31, 2008, 8:52 amThank you very much, Seow Yee. Thz for giving the advice. Just that I'm trying not to stay 'inside' Puchong area cos my working place is in town area. some more, if >280k, then cant afford..

I have friends that bought double story in Bkt Prima Puchong, only 290k. very good in design and is reputable developer. The only reason that I don choose is the location. not convenient for me to work. another 2 months time can get key lor..

anyhow, thz a lot, Seow Yee. If you have other projects that can recommend, pls do let me know ya. Arigato!!!

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Added on December 31, 2008, 9:00 amHi. May I know which sales agent do you talk to for the Zest project?

This post has been edited by sk_lim_taurus: Dec 31 2008, 09:00 AM

Hi lim,

thanks, I had gone thru the link before.. anyway, good piece of info

I am very bad with names, I can't rememeber what is the sales girl's name.

oic.. haha.. doesn't help..

Keep in touch ya.

oops.. urs one is sales gal ar.. my agent is called Andrew, very responsible person

HAPPY NEW YEAR!!!

Manage to lock in a unit yesterday. Still have about 2 months to think it over.. The booking fee is refundable if buyers decide to withdraw.

Now I have to scout for loan package and seek advice from the loan officers as currently I am taking loan for another apartment near TPM which already tenanted.

No doubt its a good location and still manage to escape the jam in puchong jaya if you decide to go to KL. The service apartment is surrounded by high class resedential, thus environment will be much better. I am a big fan of kinrara area but the landed property is just too expensive for me.. What to expect as I had just started working 3 n half years ago.

Puchong will be a promising area with lots of commercial building comming up. The Puchong Corporate Financial Center office tower in bandar puteri, Setia Walk, The Verve, IOI new wing, 1 Puchong Business Park, and IOI Boulevard. Puchong is also lacking of good condos and service apartments, currently only Aseana Puteri, Casa Puteri, La Vista, Koi Tropika (sorry if I miss out any other condos around). The rest are mid cost apartment. These are supplemented by Setia Walk Solace, Zen Residence and Zest @ Kinrara 9.

I have spoken with the manager and she said that utilities tariff can be converted to residential rate just like what they had done for their previous project, Heron residency, but can't promise for accessment and quit rent.

Maintainence fee Rm0.16 per sqft, lowest i have everseen for a serviced apartment.

If you decide to rent out, they can arrange tenant for you FOR FREE..

Anyway.. Happy New Year..

This post has been edited by eugene jk: Jan 1 2009, 08:17 PM

Yeah!!!

I've booked a unit as well. Level 15. It is a corner unit. I'm now looking for the loan packages as well. I've been contacted by agent for the loan packages. so far, the packages given are Hong Leong, CIMB. Now waiting for Alliance Bank. Any suggestion from you?

www.money3.com.my

you will be able to find tonnes of housing loan info..

mine is corner unit as well, away from the main road and facing alam sutera (east). Mine is level 5, if plus the 5 storey of carpark then mine will be about level 10. To me, its sufficient enough for me as higher floor is more expensive, pocket not deep enough

This post has been edited by eugene jk: Jan 2 2009, 12:40 PM

hee.. i've been visit the website before. good for my reference but still need to talk to the bank as the final package might be very different.

i did consider your unit before. but at the end i choose higher floor. but same side with yours. unit 12, right? anyhow, it is great to know you. we are potential neighbour.

i've heard from my agent. the banks that tied up to this project are EON bank, CIMB bank, UOB banks.. let's find out which offer the not bad packages.

Good luck to us.

Yup, Unit 12 .. because I want to stay away from noise coming from the main road, corner units have more privacy and all rooms have better air ventilation, although I think Type B has better layout

Thanks for the info... do keep in touch

This post has been edited by eugene jk: Jan 2 2009, 03:00 PM

ya ya..totally agree with u. i also wanna avoid the noise so i choose unit 12. still can have KL view + green view + away fr the main road. my 1st choose is always corner unit so that i no need share walls with ppl n nobody will pass thru my corridor.

type B has larger balcony.. i'm only sad that there is no utility room. ai.. no perfect one. if not, other types got no selling point liao. haa...

btw, do u feel like fully flexi home loan is better? cos my frens choose semi flexi. they said better wor.. confuse

hie..fren..what is the project name and developer name?
if it not Standard chartered end financier,maybe i can tied up with this project..
sk lim,if u want to know more about flexi loan or semi flexi, u can private msg me =)

Thank You

Zest @ Kinrara 9
Developer: Trinity Towers
property type: Serviced Apartment

I had spoken to the developer and they mentioned that SC will not provide financing to buyers for this project.

What other bank provide financing for this project?

I know OCBC bank is not at the moment (cause i'm OCBC mortgage banker myself )

Anyway if you are looking for a property, do give me a call.

Provide me the details, your budget and preferance and i'll try to match some property for you.

And if you have inquiries about OCBC mortgage loan, do give me a call. will do me level best to assist you.


Regards,


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

Hey I saw it already. Work already starting wor

I guess if got a ramp towards Jalil will be better lor, coz later you guys jammed my kinrara traffic light

I know OCBC bank is not at the moment (cause i'm OCBC mortgage banker myself )

Anyway if you are looking for a property, do give me a call.

Provide me the details, your budget and preferance and i'll try to match some property for you.

And if you have inquiries about OCBC mortgage loan, do give me a call. will do me level best to assist you.
Regards,
Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Berhad
019 - 913 1127
ChuaCChie@OCBC.com

[/quote]

If OCBC is not tied to this project, can you still provide the home loan service?

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Added on January 5, 2009, 11:27 amThe work is started?? I think u meant the land is surrounded is it? cos i heard it will start after Feb... anyhow, it is great if start earlier.

the ramp will completed together with the commercial lots. tat's y it bcome the plus point of the project.



This post has been edited by sk_lim_taurus: Jan 5 2009, 11:27 AM

Can be done on ad-hoc basis, but subject to approval. No harm trying thou...


Regards,


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

join our discussion here

http://realestate.net.my/forum/viewtopic.php?t=21790

cheers

oic. then mind to let me know wat's the rate offered by OCBC now? TQ~~

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Added on January 6, 2009, 9:17 amTQ~~ i'll go and check it out

This post has been edited by sk_lim_taurus: Jan 6 2009, 09:17 AM

hey guys,

May I know how much is the booking fee?.. I tried to go to their showroom today but sudden heavy rain put me off as I worried Puchong will be heavily jam during the peak hour.

Any recommendations on the units to look out for?.. I looked at their website and there's a KL view and a pool view. I'm not sure which one is facing north and which is facing south though.

Judging by your comments on the west should be facing the supposedly controversial C&C and temp detention center, then I guess the KL view should be north facing?

Thanks. will try to drop by again tomorrow..

Hi. I'm Siew Kim. How to call you? maybe we are potential neighbour as well.

The booking Fees is RM3k, refundable if you decided not to proceed your purchase before Feb.

I've locked unit 12, facing KL view but away fr main road, avoid noise. what's your preference? pool view is facing west ya.. normally ppl don't like. but if you like the pool view, then is ok la. Are you looking for investment or own stay? Have you been to the office before? Maybe you can call Andrew, Assistant Sales Manager (012-722 9045) to make an appointment. He is nice and can give you good advice. I heard from his purchasers, good service, responsible and honest person.

This post has been edited by sk_lim_taurus: Jan 7 2009, 11:45 AM

I'll be visiting the developer tomorrow to see what we might be able to come up with.

Will keep u guys update on this thread


Regards,


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

Great. I hope there will be good news on that.

ok~ today i just booked a unit facing the green instead of the street with 2 parkings which is side by side (or at least a couple of cars away).

I don't quite like the idea that most of the blocks are allocated 2 parkings but the parking is one in and one out and at any moment of time, you need to shift your car for the other car to come out.

I'm still thinking about it - at least have until feb.

- Well, they gave porcelin tiles for everything except kitchen and bathroom. I would love to have laminated timber for bedroom. Guess I would have to redo this.
- The balcony is glass and not grill type which is wonderful
- There is a dry kitchen but no wet kitchen. According to the sales, the area after the dry kitchen can be used as wet kitchen. Although I don't know how to cook, but would love to learn in the future
- Ceiling is 10 ft high which is sufficient for plaster ceiling
- They are giving shower rose as the shower arms. This is good also, but not sure which type they are giving, but if the shower rose is like Zen's shower rose, then it'll be nice
- They say they are going to provide shuttle services to places like sunway pyramid and ioi mall, not sure will this materialise or not
- A good point is you no need to go down to throw rubbish as there's an utility room near the lifts which you can dispose your garbage
- electrical tarriffs would be of commercial type.. sigh

I took type A but I kind of like type B's walk in cabinet style for the master bedroom but again, I wanted the biggest unit.

All in all, I'm still thinking..

Is it true?
- They say they are going to provide shuttle services to places like sunway pyramid and ioi mall, not sure will this materialise or not
- A good point is you no need to go down to throw rubbish as there's an utility room near the lifts which you can dispose your garbage

Wow!! then is not bad. I need to go find Andrew to check it out. has been some times not getting updated from him.

but, abt the carpark.. really need to consider cos will b troublesome ner..

I'm planning to make partition in my yard so that I can have a wet kitchen there. but need to know the actual size first whether my plan is workable or not.

This post has been edited by sk_lim_taurus: Jan 9 2009, 11:02 AM

oic.. so what is the current layout of the parking lot? one in one out or side by side? mine is type A as well, unit 12 (further away from main road)

I have ask them to convert the utility tariff to residential rate, see what are their responce in 1 and half month time

they say only higher floors have side by side parking..all others are in tandem ..

yes.. i'm also asking them to convert.. I don't quite like type A design but it has a bigger master bedroom with 3 windows.. whereas type B's MBR windows are only 2 units...

Herm.. good observation there gunnerstkd.. i am asking them about my parking lot.. personally (or rather most of the people) dun like "one in one out" kind of parking lot.

Have to agree that Type B has the better layout, bigger bath room also. However corner lots have more privacy and all room windows are facing out. Cant get the best of both world

Till now, I am still thinking...... ('~')

I met them again and finally decided on type A. Reason being is type A's MBR has 3 windows and also the MBR is protruded out.

If you notice, type B's MBR only 2 windows and the view in front is being blocked by 2 walls. Type B's MBR is like hidden inside these 2 walls and it will give you a very limited view.

And the kitchen's tiles are the same as living room's tiles. Therefore, it's easier to do renovation. Initially, I thought from the floor plan, type A's kitchen tiles are of different colors.

Type B do have a small utility/store room next to the front door.

And their showroom would not follow the initial design shown in their website as they have appointed a new interior designer for their showroom. But they will still use Type B as type B has the most unit per floor.

Took me a while to decide on which corner unit.. then finally decided on the one facing the greens.. this one may not have klcc view, even their sales cannot confirm whether klcc will be within sight or just out of sight. In terms of fengshui, may not be so good because mountain in front and water behind (swimming pool), it should be the other way around for good fengshui.

but then again, on the unit facing the main road, will have more noise and also.. because there are factories across the road and also alot of moving vehicles along the highway, I do think that the pollution may be more over there.
And the unit may be prone to dirt build up faster.

so, the decision was made with privacy vs sceneries, so I chose privacy. The other corner unit's door is just next to the neighbor's front door. And the opposite's neighbors door is not far away as well, if there are childrens, may be noisy..

its good to face east as its the direction of morning sun.. you wouldnt want to go back home in the evening and your unit feel like a sauna. It save your electricity bill too for not turning on your air-con that often . If facing west, you will get the afternoon to evening sun which is very hot, moreover if your unit facing the facilities (swimming pool), you will be annoyed by the noise from the ppl especially kids playing in the pool. facing green is a good choice

Hi Everyone,

I too have already locked in a unit on early december last year. My unit is unit 12 type A of 12th flr.

You can address me as HJ in this Forum.

me too alr locked a Type C unit.
surprise to see quite number of us are LYN members.

This post has been edited by Cream: Jan 11 2009, 11:47 AM

FYI im a new user - recently found out that there is a forum on this property.

Any advice on good home loan?(anyone)

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Added on January 11, 2009, 5:17 pmAnyway i just came back from the sales office to collect the panel of bank's brochure. Need to study on the financing.

I have check with Andrew on the wall structured as to which wall can be hack for renovation.

I also noticed that almost the highest floor are all booked d.

The remaining one would be type B from 12 flr and above.

Seems that ppl really have deep pocket and interest on higher floor.

This post has been edited by Hengjones: Jan 11 2009, 05:17 PM

the highest floor is actually not fully booked.. it's just reserved for investors.. the other day only 2 units were bought as far as I know. As there are already stickers there.. but still got investors called in to book two units..

I'm also waiting for the home loan package. New to home loan so need sometime to study it. Any good suggestion?

I heard from Andrew that only higher level will have side-by-side parking. I've not received the floor plan yet but Andrew said my unit will be given side-by-side parking.

Agreed to you, Eugene. I prefer facing east then facing west. Even thought my fren commented that cant sleep late during offdays, but it can be solved by choosing good curtain. My current room is facing east as well. No prob. But if facing west, the heat will really turn my unit become sauna room. haa...

Unit 12 is the best selling unit.

P.S.: Welcome joining us, HJ and "Cream"!!!

This post has been edited by sk_lim_taurus: Jan 13 2009, 02:20 PM

Got confirm from them and for unit 12, from level 12 onwards will get side by side carpark.. some other unit will have side by side carpark starting from different level.. suggest respective owners and potential buyers to check with them..

Went to the office today again.. the sales person had shown me the letter from MPSJ to direct them to build the ramp as part of the criteria of the project.. The ramp will start constructing tentatively this April this year..

Looks like the sales figure is not bad considering the project is not even soft launched. Most units taken up are lower floors. Unit 12 is selling fast and high floor only leave level 13A, And that is the last Unit 12 with side by side carpark for block C... better be quick..

cheers..

eugene,

so you are canceling your bookings?. I've heard they have the 10% fixed deposit on 0% 12 months installment plan.. not sure how true about that..

Hi Arsenal

No, havent cancel yet.. just change mine from level 5 to level 13 yesterday.. additional 7k for 8 level higher and side by side car park ..

Yes.. the sales person told me the samething... deposit with credit card, 12 months installment with 0% interest ... nth to lose...

maybe I will go for that as I dont want to redraw any cash from my other investment..

cheers..

This post has been edited by eugene jk: Jan 16 2009, 02:56 PM

Dear all,


I've visited the Developer last week. Quite an interesting piece of development i'll say.

Too bad i didnt have enough time to look further, but with the LRT station to be completed in the future it looks very promising for rental investment.

Currently we can finance this project on add-hoc basis.

I'm keeping my eye on this project for future reference, since puchong is growing at a rather fast pace lately...


Regards,

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Personal loan service is also now available from me!

I've heard that the electricity and water supply charging rate is the same for residential and commercial title. Can anyone verify it?

nonono

But my fren who stay in service aprtm told me that her electricity bill is 21.8 cent wor. Her service aprtm is also build on commercial land.

water bill is diff.. it's being managed by Trinity.. so, we will not be sure how much they will be charging..

for electricity, it's going to be commercial.. but some say it's actually residential rate.. so how's yr bank loan research goin?

Electricity rate is convertable.. you can check with other service apartment like Tiaraville, E-Tiara..

I heard than Trinity sister project - Heron Condo is also charging on residential rate.. not sure but can check on it..

Other project like Viva jalan Ipoh also convert the utilities rate to residential rate..

Assessment and Quit rent is a bit hard to convert.. but i think it will not be very high..

Hi Everyone,

I have been scouting for good rate for the loan.
Just found out that there is this insurance called MRTA. It is an insurance to settle the outstanding amount in the even of death or disabilities. The premium rate is depended upon how many years you choose to opt for. It can be 30 years depending on the tenure of the loan.

Currently Public Bank has tied up with ING to offer the MRTA to its customer. I am actually asking around about the premium calculation. The premium can be added to the loan amount depending on the customer whether he would want to settle upfront.

Sounds affordable property. Any nice agent to recommend? Would like to view and consider for this property.

Just walk in and ask, the sales agents there are quite approachable.



Regards,

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items!!
FREE OCBC Mortgage Loan consultancy.
FREE OCBC Personal Loan consultancy.

You can look for Andrew Tan (012-7229045). He is nice and good service.

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Added on January 20, 2009, 9:04 amI don't take MRTA but other insurance which can cover for the home loan. You can call it MITA or MLTA. If added MRTA in to homeloan, it will be expensive cos is charged for interests.

What loan that you have found? mind to share with us?

This post has been edited by sk_lim_taurus: Jan 20 2009, 09:06 AM

I remember one forummer suggest don't put your MRTA under loan amount, so that the MRTA amount will avoid the compounded interest. Not sure though.

Pay your MRTA up front so that you will not charge by interest.. some bank will suggest you to put it in together with home loan so that the bank can earn more interest on it.

MRTA is a protection for bank IMHO..

You can have separate Insurance policy (investment link or term) with the sum assured identical with your loan amount and prove it to the bank that your policy is meant for your housing loan.. But not all bank will buy the idea..

MRTA/MLTA is the protection for the loan taker/s (and their family), to secure the property over the loan should any happen to them.


If you have the money to purchase MRTA, you may wish to do so to avoid compound interest in the loan.

However, its always advisable to have MRTA for your own property under loan. Where as MLTA is actually customized to favour investors.


Regards,

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items!!
FREE OCBC Mortgage Loan consultancy.
FREE OCBC Personal Loan consultancy.

emm.. Ppl suggest me to take fully flexi loan rather than fix or semi flexi loan. Is it the best package nowadays? If fully flexi is good, then who will consider the fix loan?

Anyone can comment on this?

if the loan is a flexi one then putting the mrta into the loan is better as the effect is the same. for conventional loans then yes the interest will increase...

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Added on January 21, 2009, 2:56 pmfull flex better if u got lots of spare cash....
fix loan sometimes got slightly lower rates compared to flex, flex also got 200rm set up fee and 10rm monthly fee

This post has been edited by mouldybread: Jan 21 2009, 02:56 PM

Is the monthly fee of RM 10 applied to every bank? RM 10 x 12 mths x 30 yrs = RM 3600.

So is there any limit on the monthly total amount that we credit to the account? If we credit more to the account to offset the interest sure will shorten the period of loan, right? Will there be any penalty?

This post has been edited by sk_lim_taurus: Jan 21 2009, 03:18 PM

the 10rm/month fee applies to most banks, only one i noticed was different was ambank that was charging 5rm/month. ask your own bank to be sure how much they are charging. actually 10rm/month is not much when compared to the interest that u will be charged...

normally for flexi they set up a non-interest bearing current account where whatever is in it will offset the interest of the loan account. there is no limit that u can put into the current account and normally there is no penalty even if you put alot like u described. if your current account has more than your loan account then every month the payment will go 100% into the principle thus shortening your tenure. the surplus in your current account normally will not do anything not even earning interest like a savings account so it is better to take the surplus and put it somewhere else. these are what most banks practice and there are some exceptions so u just have to check with the bank.

Hi,

A Flexi-loan, you can deposit any amount inside the saving/current account. the most important part is the offset part which the flexi loan giving you the advantage. Some banks might waived the RM10 service chargers for you, depends on which bank. If take Islamic flexi loan, the is no monthly fees will imposed.

Compare to normal term loan, flexi loan offer more in terms of flexibility for offsetting your interest without sacrificing your liquidity which might get handy in the event of emergency need of funds. Normally flexi loan are more suitable for people with cash flows, did you know how much you can save with flexi loan by saving RM1 a day?

Hope can clear up some doubts. Any question please feel free to ask.

Regards,

KK Cheong (017-569 2117)
Mortgage Consultant

deleted

This post has been edited by mouldybread: Jan 21 2009, 05:53 PM

'if your current account has more than your loan account then every month the payment will go 100% into the principle thus shortening your tenure. the surplus in your current account normally will not do anything not even earning interest like a savings account so it is better to take the surplus and put it somewhere else. these are what most banks practice and there are some exceptions so u just have to check with the bank.'

Let's say if I've cleared the total loan earlier, is it meant that i've settled my loan automatically? After the loan is cleared, will the current account close automatically since the account is reflected to my home loan? Will there be any T&C applied to close the account?

This post has been edited by sk_lim_taurus: Jan 21 2009, 04:47 PM

yes it means your loan is settled. for the current account i dont think it will close automatically but its better to ask the bank themselves if there are any other T&C...

make sure there are no early settlement penalties before really settling it, usually the lockin period is either 3 year or 5 years.

This post has been edited by mouldybread: Jan 21 2009, 05:24 PM

so really need to sit down with the bankers for the details. haa..

btw, do you have any recommended loan package?

After reading the discussion, I have more question for the bankers

i)MRTA premium;
ii) Flexi , semi flexi and fixed.

Really have to do thorough research.
Guess i just need to continue making phone call to bankers.

give me a call if you are free.

I'm too tired today to post...


regards,

Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items!!
FREE OCBC Mortgage Loan consultancy.
FREE OCBC Personal Loan consultancy.

---

Added on January 21, 2009, 10:16 pmnot really... even thought technically it appears the be that way...

its going to be a long post for me to explain, and i got another appointment at 10.30pm later, (another 15 minutes to go...)

give me a call and i'll try to explain the thing over the phone. (saves me time to type... its exhausting )


p/s i'm in the middle of writing a book about mortgages guide. all constructive comments are welcome about malaysia mortgage packages.


regards,


Merce Chua
Mortgage Sales Executive
OCBC Bank (M) Bhd
019 - 913 1127
ChuaCChie@OCBC.com
----------------------------
Call me for the FREE items!!
FREE OCBC Mortgage Loan consultancy.
FREE OCBC Personal Loan consultancy.

This post has been edited by merce: Jan 21 2009, 10:16 PM

Good news!!

The 12 month 0% installment plan for down payment is confirmed, if you are Ambank, RHB, UOB, EON or Maybank credit card holder.

I heard that the best home loan package is BLR-2.1% and BLR might go down again!!! Yeah!!!

If any of you got the updated news, please share~~ TQ~~

This post has been edited by sk_lim_taurus: Mar 2 2009, 09:44 AM

wow..sklim is really hardworking... no wonder u work in that line of business..

but y not citibank?.. i have hsbc but i hate hsbc reward points as it has expiry date..

you know what i'm doing??? haa.. how do you know abt my job???

Andrew said citibank has not confirmed with the plan yet. still under progress. I hope can get citibank as well. I'm waiting for the good news.

"BLR-2.1% and BLR might go down again"?

May i know roughly where can i get more details on that?

So far the best rate i know is about BLR-2.00 and even that is verbal communication only.

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Added on January 24, 2009, 6:38 pmO Yeah BNM recently just announced OPR cut followed by a lower interest cut on loan.

MayBank and CIMB had also announced a lower interest rate cut in the BLR.

This post has been edited by Hengjones: Jan 24 2009, 06:38 PM

Mortgage Life Insurance

Mortgage Life Insurances are designed to pay off the outstanding loan balance in the event that the borrower dies or suffers from total and permanent disability (TPD) before the loan is fully paid off.

Basically there are two types of mortgage life insurance available in the market. One type is commonly known as Mortgage Reducing or Decreasing Term Assurance (MRTA or MDTA) and the other choice is Mortgage Level Term Assurance (MLTA).



Mortgage Reducing Term Assurance (MRTA) or Mortgage Decreasing Term Assurance (MDTA)

MRTA or MDTA is a reducing term life assurance specially designed to protect a loan borrower against death or TPD (total permanent disability) due to natural or accidental causes. Some lenders will allow you to finance and add the premium to your home loan (up to a certain percentage of your loan amount).

MRTA or MDTA is a simple insurance policy and has become a common and acceptable policy taken up by the borrower whenever he takes up a mortgage loan. The premium is paid upfront in one lump sum. Some lenders will finance and add the premium to your loan. The borrower can choose the amount and tenure of the coverage and the amount of premium will be determined by these factors as well as his age and gender. Banks normally encourage the borrower to take up this policy by giving better pricing on their interest rates if the borrower signs up a MRTA or MDTA policy.

To the borrower this is relatively a hassle free, affordable and necessary policy as their mortgages are covered in the event of any unfortunate incident that may caused death or TPD.

1. Not Transferable
In most cases, new MDTA policy has to be taken up whenever a borrower changes his properties or refinances his loan with another bank
Example: 5 yrs later, refinancing at the older age, for same tenure of same loan amount, the MDTA cost is higher.

2. Insurability is not Guaranteed
Most of the time every time you finance your property, you have to prove that you are healthy to purchase MDTA.

3. No Cash Value
It is an expense with zero cash value at end of the mortgage tenure.



Mortgage Level Term Assurance (MLTA)

MLTA is a slight variation from MRTA or MDTA and offers an alternative for a borrower who is looking for a life insurance which offers protection plus savings and in some policies returns on the premium.

Premium is paid on a monthly, quarterly, half yearly or yearly basis and the policy holder can choose to have a wider coverage other than death and TPD. The amount of the premium will be determined by the usual factors and the scope of additional coverage.

1. Transferable
This policy is transferable whenever the borrower buys a new property or refinances his loan with another bank.
Example: Transfer this policy, adjust the sum assured to match the new loan, as many times as you need.

2. Insurability is Guaranteed
You purchase only once, with the same sum assured, there is no need to prove your health condition again.

3. With Savings or Returns (Cash Value)
Premium paid will be accumulated either as savings or savings plus returns. The cash value can be used to reduce or pays off your mortgage.


**Note.. There is no 36 CIs included in MRTA.. CIs coverage is crucial as anyone of them can cause a person not able to work or perform daily routine work.. I think MLTA can include CI's..

Of course, MRTA is cheaper and for MLTA, there is a premium to pay for it..

The most important thing is to evaluate your existing insurance policy (all the 5 important items) before jumping into the wagon, because it can cause a person hassle if the wrong decision is made..

Cheers