It's true that some bank do absorb your penalty.
But you need to study out the package.

Some is let you finance in the penalty and the margin can be up to 98% subject to profile. (90% for property value + 8% margin of penalty)

For some bank they totally absorb the penalty but the interest rate will be lower and lock in will be longer too. This is for balance the penalty bank paid for you.

I get the latest new about CIMB, and the good news is they also offer absorb penalty package.
You may contact me if you need info about it.

i'm mortgage loan agent that help ppl save interest with totally no extra charge at all.
Any loan package from any major bank in Malaysia me also can offer you.
You may try my service if you want. Can save your time walk in the bank one by one.

This post has been edited by onnying88: Mar 23 2009, 11:18 PM

Yup, recently almost all my cases also pass to CIMB due to their service and attractive rate.
For the absorb penalty package CIMB haven't launch yet, will update you all once i get the info. So far i know there will be 2 type of absorb penalty package that CIMB have, just haven't decide which will launch.
But for sure the max margin can be up to 98% subject to profile. (90% for property value + 8% margin of penalty)

And CIMB rate can be BLR-2+ even for below RM100k loan. It's Flexi loan summore. Others bank need to be RM100k above to get Flexi loan.

Yes,CIMB rocks for current mortgage market

This post has been edited by onnying88: Mar 24 2009, 06:32 PM

First type is one type of the package which allow you to finance in the penalty.
The second type is bank totally pay up the penalty for you, but the interest rate is not so good and the lock in period will be longer.
As this is fair enough for the bank to cover back the penalty that paid for you.

Both have their pros and cons.
First type whould be suitable to refinance to flexi loan which allow you to dump in money to save more interest. Better rate also, maybe BLR-2

Second type is just to reduce the interest rate but maybe hardly u can earn from it also. As your loan is still under loack in. i assume it's just 2-3years loan ago. The interest rate different is not that high. Maybe from BLR-1 become BLR-1.5. Yes, 0.5% make a huge different in long time.
But the first type will save more if compare. Maybe the better rate from first type already equal to your extra interest you pay for 20years in the second type

Above assumption is not accurate in the rate. i'm just comparing both package.

This post has been edited by onnying88: Mar 24 2009, 09:33 PM

You mean refinance through me is faster or not?
If you mean so then i just can tell you i will try my best to give you the best service.

Different bank have different process involve when refinance.
What i can do is just check for you from time to time to moniter the process. That's it.
Normaly i will get the approval within 3-5 working days with complete document.
And most important, my service is totally free with no extra charge.
You'r welcome to try my service if u need

Agree with all above,
That's why i advise my client to take from CIMB and ALLIANCE only recently for Flexi loan. PB i seldom use as their Flexi rate is suks. PB i only go for it for their normal Term Loan.

Well, rates in flexi loan doesn't really effect so much if u fully understand it.
Most important part for flexi loan is the functioning of the account and flexi system of the bank itself. Of cause the basic function of flexi is a must.
Every bank have different flexi loan system that's for sure.
That's why i only go for PB term loan. Never go for PB flexi. Yet.

This post has been edited by onnying88: Mar 25 2009, 02:46 AM

Ya, i do mention the rate is suck,
But still, i woudn't recoment to my client to get Flexi from PB, even giving me extra 0.1% or 0.2% also no meaning. If you study out their system, you'll know it.
My objective is to provide the best loan package to my client, not best loan rates only. Cheers

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Added on March 25, 2009, 1:50 pmAs i know,it's more or less the same , both also take time around 3 month.
For my advise,finance the penalty and get the lowest rate will be a better choice for long term.

This post has been edited by onnying88: Mar 25 2009, 01:50 PM