Mortgage transaction requires 2-3 months to complete, till the disbursement of money.

If you are lucky then it will take less then 2 months, but that hardly happens.

Application may take from a couple of days to a week time for approval.

After that it might take a couple days more for the officer to generate the Letter of Offer and present it to you, assuming that there are no further amendments on the terms and condition.
For semi-flexi account;

If you really want to remortgage the house for money, apply the loan 10 or 20% higher from the amount you desire to obtain. Once the money is disburse to your account, use the 10-20% extra money to pay as Advance Installment or request a Standing Instruction, to cover the installment for a year or 2. For the remaining money, dump it back as Capital Prepayment/Withdraw-able Prepayment. Then you will have the money ready when u need it. Ask your officer to help you plan all these. Different banks has different ways of playing with the account and their features. Check for for withdrawal charges and whether their Advance Installment offsets the principal or not.

Now for a full-flexi account;
This is a different approach. With the money disburse to you, dump everything back into your loan account (or current account if they have link accounts) Ask for a Standing Instruction for your installment. This would off-set the principal and minimize your interest until you utilize the money for study.

Hope the above helps

Good luck. 

Wow, this is confusing. Is there any layman version of this? 

By the way, what's the difference of a full-flexi and semi-flexi account? Will they differ in interest rates, monthly installments and MOF? In my case, which bank offers the best deal?

Where do I get a guy to talk to, to help me on planning and choosing the right home loan product, make sure things go smooth etc? How much will I be charged?

I suppose full-flexi account will be more suitable in my case as I can pay my school around 50k every 3 months instead of paying them 230k at once, plus I will only need the money 30 days before my intake.

Thanks a lot 

P/s: I see things like "Min. Downpayment" while reviewing home loan packages at money3.com.my. Is it applicable to home refinancing?

Full Flexi,

You'll get a Current Account which are linked with your Loan Account.

Let's say you owe the bank RM200k, but in the current account, you deposit RM200k in it.
It is = you have paid them BUT at the same time you still can use the money in C/A. So no interests will be charged on you. BUT the monthly installment will still be deducted automatically. (From your current account to the loan account)

In your case, if you don't need the RM230k at once. It is better to opt for Full Flexi type of loan. Whatever excess that you do not need it right away, you can keep it in the C/A to reduce the interests charged on you.

FULL FLEXI packages often have downsides like Interest Rate not as attractive as normal conventional package.
You need to pay monthly maintenance fee of RM5 or RM10 depending on banks
MOF wise, normally are not affected.

Semi Flexi are Full Flexi wannabe, don't bother with those... (layman enough?)
Some banks (their marketing) call their semi flexi as full flexi .. beware.... AFAIK, Public does not have full flexi

Min. Downpayment is not applicable for refinancing

Wow, this is confusing. Is there any layman version of this? 

By the way, what's the difference of a full-flexi and semi-flexi account? Will they differ in interest rates, monthly installments and MOF? In my case, which bank offers the best deal?

Where do I get a guy to talk to, to help me on planning and choosing the right home loan product, make sure things go smooth etc? How much will I be charged?

I suppose full-flexi account will be more suitable in my case as I can pay my school around 50k every 3 months instead of paying them 230k at once, plus I will only need the money 30 days before my intake.

Thanks a lot 

P/s: I see things like "Min. Downpayment" while reviewing home loan packages at money3.com.my. Is it applicable to home refinancing?

If that is the case, better get ur arse to the bank tomorrow. Talk to them, tell them your situation, your mom's case.

Ask them for advice, FYI there is no charge for consultancy .. so just bombard them with question.

There are chances that some banks are willing to accept your case. Solely depends if the banker is willing to do it or not.

Since u said she got a good track record, go back to the bank where she is holding their credit card and also car loan. Chances are a lil higher

If I know no one in this line, how do I get started? Visit the banks one by one to get information, then decide?

Hi Teddy,

I used to work in a bank.. few banks actually.. so I can help you out with all your enquiries. We can meet up and talk about your case. I'm liaising with a few banks so you can apply with a couple of banks through me and see which bank will approve your loan.

Note: It is always best to be honest with your banker coz they will try their hardest to get your loan approved coz they need the case as well  They will know what needs to be noted and what doesnt.

As for your mom's background check it cannot be done on the spot.

my apt just 15 mths completed & i plan to refinance with the same bankf for existing loan. Can i do that???
any penalty fee?? is that less complicate if do refinance with the same bank??

Erm, sorry to say but did you read the fine print that you need to pay RM30k first to AA and they are the one who will be securing the bank loan for you using your home as a collateral?

AND, IF they couldn't secure a bank loan for you, you can kiss your RM30k goodbye.

Even if you get the loan, you need to pay RM50k fuel fees.

Belum mula belajar sudah hutang RM80k.

I suggest you forget this unless you're filthy rich.

You can start asking here for more info. There are a few hidden charges which you wanna take note of.

About refinancing, well you need to find out how come your mom is blacklisted first.

Or, you can go for the cadet plan

Wow..
PPL around RM30k
FATPL around RM150k
CPL? Hmm..

I wonder how long you need to pay them off

I don't mind paying back the bank after I get a job. Say I get at least 3k per month, I can really pay them 2k and I myself keep 1k. I'm not flying to be rich, I want to fly because I want to. I will find out more about the blacklisting a while later.

Mind letting me know more about the 80k thing? It's like another problem comes before the previous one is solved.

Woooo don't get me wrong. I'm not saying that you need to fly to be rich, I'm saying that you need to be rich to fly

Steps for self financing :
1. Give AA 30k
2. AA go and get loan for you
3a. AA cannot get loan for you, you failed, 30k gone
3b. AA managed to get loan for you, you pay extra 50k for fuel cost for your course

So, you need to have 30k in hand first. Erm, uncle is a pilot so this is word of mouth, you may need to ask more about all those hidden cost.

You might find this calculator handy clicky