[WTA] Refinance or stay put, Help me count
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 Jul 22 2009, 09:45 PM
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#1
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Junior Member
7 posts Joined: Mar 2007 From: Butterworth, Penang   
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If I refinance using the same bank. Is there any legal fees involved?
I'm currently having UOB loan, now want to refinance the same bank but better rate. So I want to know what is the expenses involved? They give me BLR-2% |
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Jul 22 2009, 10:05 PM
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#2
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Junior Member
7 posts Joined: Mar 2007 From: Butterworth, Penang
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QUOTE(onnying88 @ Jul 22 2009, 10:01 PM) Refinance mean you change the loan from Bank A to Bank B. So you can't refinance within the same bank. You just can ask your current bank to revise the rate. Expenses will depent on the bank also on how they wanna charge you on those penalty, legal doc and etc. Same bank they just revise the interest rate but with fresh lock-in 5 years again without any charge. Some they give special discount for the penalty. So the best answer is to ask back your current bank. Is there any legal fees involve? My bank said because same bank so no need legal fees. All the best Regards, Onn  But my lawyer said it might involve some charges. So which one is true? I'm using UOB loan. Now is proceeding. |
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Jul 22 2009, 10:17 PM
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#3
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Junior Member
7 posts Joined: Mar 2007 From: Butterworth, Penang
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Oh I see. Thanks for your help.
I will call the bank tomorrow and ask them to contact my lawyer for clarification. I think the lawyer who prepare my SNP and Title Transfer wanna earn some money here. Any opinion?? |
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Jul 23 2009, 12:12 PM
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#4
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Junior Member
7 posts Joined: Mar 2007 From: Butterworth, Penang
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Just call bank. The officer said no need for legal fees as they only amend a little portion of the original loan document. Which is they revise he rate. I think the lawyer must be greedy.
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