i wanna refinance my property.
only 3 years old and still under lock in. 5% of total loan or rm6k

so Ii need a high current market value in order to get a little to cover for the penalty.

so far checked with the banks below.
for example property value = RM100k
outstanding = 92k

Market value
HSBC - 75k
Stan chart - 80k
Am bank - 110k
pub bank - 100k

but people are selling their houses for rm150k on newspapers.
can i know why is it like that, and how can i find a good valuer who can give me a good market price?

Tried CIMB. they can also offer 10k extra from purchase price.
i've done the calculations for the lock in period
i have another 3 years left for lock in.
my blr when purchanse the house is 0% and +1 after 3 years.

its now 3 years and i'm paying 7.5% for the housing loan which is extremely high.
by refinancing, i actually save about RM15k-6k(penalty)= RM9k

So i think refinancing is a much better way to go now.

Why wait for CNY? what happens then?

my loan is actually 6% of the total loan amount or RM6k whichever is lower.

cannot tahan already cause need to refinance. and once able to refinance for higher value of my property, i can take the extra cash and pay for the penalty.

Tried asking my bank to lower the rate but they refused. Because right now i'm still in lock in. they said that i can apply again after the lock in period. I also gave them other bank offer letter to me also. but still they said they won't counter offer.

so no choice for me but to find higher property value.

My Property is in Puchong,

The only bank i know that absorbs the rate is Maybank.
They cant offer me a my house market value.
Dunno why its so low.

My current bank, they dun care. i send in letter, meet them. discuss with them. in the day answer is just same. sorry we cannot do anything for now.

i wish my loan was flexi but its not. its the normal conventional loan.

pay extra need to write in. pay more than 10k - kena processing fee rm100.

ask for yearly statement - rm50
ask for full settlement statement rm-100

every month need to pay rm1.3k, suddenly they send late payment fee.
ask them why, they said fire insurance.
i tell them, u never send me statement, never inform me. suddenly charge late payment. why so lousy service.

they said. if u want monthly statement, must pay rm10 every month.

my loan is the most stupidest of all. first time property never check all this. next round i will surely ask everyone.

true, cimb dun charge anything.

but unfortunately they cannot give me the market value. sob... sob....

i dun want to reveal the banks name as even though i hate them, i might cause conflict and hurt people on this forum....

so i've been contacted by many people so far. but most of it also can
't give me a good market value.

some banks say 75k, some banks say 80k.
very dificult la, if not for my penalty, i will refinance. i just need extra to pay of that penalty. now im stuck with high interest,...

sob!

thanks, the figure 100k is only a made up value. my property is worth more than that....

ok have forwarded you an email