Warning: array_merge(): Argument #1 is not an array in /home/realestatenet/public_html/forum/archive/index.php on line 76
Malaysia Real Estate :: View topic - Any no-hassle mortgage guys out there?

 


    HOME  -    PROPERTY ADS   -   DISCUSSION FORUM   -   REALTORS   -   LINKS    -   CONTACT US



Realtors and Real Estate Agents - Sign Up for Free Account at Property.net.my >>


Malaysia Real Estate
Malaysia Real Estate Portal
 
 FAQFAQ   SearchSearch   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Any no-hassle mortgage guys out there?

 
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Property Financing
View previous topic :: View next topic  
Author Message
khaifuy



Joined: 21 Dec 2007
Posts: 65

PostPosted: Tue Jan 15, 2008 2:10 pm    Post subject: Any no-hassle mortgage guys out there? Reply with quote

-deleted-
_________________
~Azizi Ah Lee


Last edited by khaifuy on Wed Nov 17, 2010 1:25 pm; edited 1 time in total
Back to top
View user's profile
networth



Joined: 03 Jan 2008
Posts: 77
Location: KL, Melawati

PostPosted: Wed Jan 16, 2008 1:46 am    Post subject: Reply with quote

Quote:
1. My current apartment.
Loan from PBB 4 yrs back. BLR+0.25% currently. Just faxed them request to deduct to BLR-2%. Any suggestions? Property price 172K. 30 yrs tenure. (1 more yr to avoid penalty)


You can re-finance to Hong Leong Bank, the interest and features as in below :

No Penalty : Should you want to refinance less the 5 years,we wont charge you any fees unlike others will charge a 3.5% to 5% penalty from the total loan amount.

Interest rate currently is BLR -1.75% (this is board firgure, i will fight a lower interest for you)

Zero Moving Cost, we will bare all the legal fees,stamp duty,processing fees etc. The only thing you need to pay is the PBB penalty, but however you can cash out from our bank and use the money to pay them.

Flexipayment : Here you can save alot of money, please contact me and i'll give you a free consultation.

Please feel free to let me know, should you have any queries.


Thank You.
_________________
Jason Chua
012 2077 686
Hong Leong Mortgages Sales
Back to top
View user's profile MSN Messenger
networth



Joined: 03 Jan 2008
Posts: 77
Location: KL, Melawati

PostPosted: Wed Jan 16, 2008 1:52 am    Post subject: Re: Any no-hassle mortgage guys out there? Reply with quote

khaifuy wrote:
I need some advise

2. ShopLot in 1-Puchong
Share with 4 frens(not relative/spouse). Property price 1.55M. No loans yet. Signing S&P next week. Completion early 2009/end 2008.

3. Amaya @ Saujana.
Share with 3 frens. Property price 650K. Just signed S&P last week. If we take 3 panel bankers, developer absorb interest till CV obtained (till 2010). Panel banker gives BLR-1.25% to -1.75% for 30 yrs tenure.


As for this, kindly contact me tomorrow during office hours and i'll provide a full information for you or you could wait for my reply tomorrow night.

Please feel free to let me know, should you have any queries.


Thank You.
_________________
Jason Chua
012 2077 686
Hong Leong Mortgages Sales
Back to top
View user's profile MSN Messenger
jwgan822003



Joined: 28 Oct 2006
Posts: 59
Location: Kuala Lumpur

PostPosted: Wed Jan 16, 2008 1:19 pm    Post subject: Re: Any no-hassle mortgage guys out there? Reply with quote

khaifuy wrote:
I need some advise

1. My current apartment.
Loan from PBB 4 yrs back. BLR+0.25% currently. Just faxed them request to deduct to BLR-2%. Any suggestions? Property price 172K. 30 yrs tenure. (1 more yr to avoid penalty)

2. ShopLot in 1-Puchong
Share with 4 frens(not relative/spouse). Property price 1.55M. No loans yet. Signing S&P next week. Completion early 2009/end 2008.

3. Amaya @ Saujana.
Share with 3 frens. Property price 650K. Just signed S&P last week. If we take 3 panel bankers, developer absorb interest till CV obtained (till 2010). Panel banker gives BLR-1.25% to -1.75% for 30 yrs tenure.



My point of views:

a) refinance (short term)
Current interest rate 7% (BLR+0.25) Vs Refinance 5.15% (BLR-1.60%)
Difference 1.85% compare to penalty (3% of loan amount)
So not worth it to refinance because you need to paid 3% penalty to
save 1.85%.
OR
b) refinance (long term)
1.85% difference per year for 26 yrs is a huge amount that you can
save, so if you plan to settle the housing loan in long term then can
consider to refinance now.(for calculation you can email me your email
address, so i can send it to you)

* if you plan to settle the loan within a short period eg:5 yrs, then is not worth it to refinance.

2. For shop lot, why you don't take in consider Setia Walk and Bandar Puteri?But 1-Puchong shop office got lift compare to shop lot in Bandar Puteri rite?Jus some suggestion only.

3. What the purpose of acquire this property?If for investment purpose then Zero Interest Rate during under construciton period is worth it because not need to fork out any cost to hold the property. Once the property is completed then you will dispose it.

If you want to hold it for long term and for rental purpose then you can get better offer from other bank compare to panel banker for the developer. If you want to know exactly the difference between offer from the panel banker to OCBC Bank, you just provide me the accurate interest rate for the Zero Interest Package during under construction period. So i can make a comparison for you.

*offer for BLR-1.25% to BLR1.75% is Zero Moving Cost Package or Non Zero Moving Cost Package.

Should you have any enquiry please do not feel hesitate to contact me at
jwgan822003@hotmail.com OR call me at 017-235 9199(Edwin Gan)
Back to top
View user's profile MSN Messenger
networth



Joined: 03 Jan 2008
Posts: 77
Location: KL, Melawati

PostPosted: Wed Jan 16, 2008 11:30 pm    Post subject: Reply with quote

As mention by Khaifuy:

Quote:
b) refinance (long term)
1.85% difference per year for 26 yrs is a huge amount that you can
save, so if you plan to settle the housing loan in long term then can
consider to refinance now.(for calculation you can email me your email
address, so i can send it to you)


The Penalty is only 3% or 5%. Yes 5% is a bigger number if compare to 1.75% or 2%.

Let's do an example on your case
80% margin of finance, you bought the house was RM172,000 that was 4 years back.

Let's say you have a 95% percent housing loan, which is around RM160,000 and the value of your house is now RM200,000 due to market price increase.

The Penalty you need to pay is RM 165,000 *5% = RM8,250

Now lets calculate how much you can save, kindly refer to the following table :

Interest HLB BANK X
Year 1 5.00% 7.00%
Year 2 5.00% 7.00%
Year 3 5.00% 7.00%
Year 4 5.00% 7.00%
Year 5 5.00% 7.00%
Thereafter 5.00% 7.00%

Installment
Year 1 $859.00 $1,065.00
Year 2 $859.00 $1,065.00
Year 3 $859.00 $1,065.00
Year 4 $859.00 $1,065.00
Year 5 $859.00 $1,065.00

Thereafter $859.00 $1,065.00

Total Repayment (Principal&Interests) $306,219.11 $375,393.67
Total Interests $146,219.11 $215,393.67

Diff RM69,174.56

The penalty you need to pay is only RM8,250 and you can save about RM70,000 can buy a Myvi man and still have the balanced to pay your bank penalty fees.

Besides that. This is a Zero Moving Cost.

On top of that, there is No Penalty Should you choose to refinance to other bank within 5 years, please go ahead and we wont charge you a single cent Very Happy

Please feel free to let me know, should you have any queries.

Thank You.
_________________
Jason Chua
012 2077 686
Hong Leong Mortgages Sales
Back to top
View user's profile MSN Messenger
khaifuy



Joined: 21 Dec 2007
Posts: 65

PostPosted: Thu Jan 17, 2008 3:09 pm    Post subject: Thanks. Reply with quote

-deleted-
_________________
~Azizi Ah Lee


Last edited by khaifuy on Wed Nov 17, 2010 1:26 pm; edited 1 time in total
Back to top
View user's profile
khaifuy



Joined: 21 Dec 2007
Posts: 65

PostPosted: Thu Jan 17, 2008 3:11 pm    Post subject: Oppss.. Reply with quote

Sorry not HSBC.
Actually OCBC. I got confused myself... so Edwin, he's ur colleague.
_________________
~Azizi Ah Lee
Back to top
View user's profile
jwgan822003



Joined: 28 Oct 2006
Posts: 59
Location: Kuala Lumpur

PostPosted: Thu Jan 17, 2008 5:12 pm    Post subject: Re: Oppss.. Reply with quote

khaifuy wrote:
Sorry not HSBC.
Actually OCBC. I got confused myself... so Edwin, he's ur colleague.


Ha..ha...So i m late already. Maybe ur next property Very Happy If you dun mind, can share wif us wat the interest rate that you get from OCBC Bank.

For the 1-Puchong, OCBC can offer up to BLR-1.3% to BLR-1.4%(whole tenure with Zero Moving Cost Package)

If you are interested about it, please do not feel hesitate to contact me via
jwgan822003@hotmailc.com OR call me at 017-235 9199(Edwin Gan)
Back to top
View user's profile MSN Messenger
khaifuy



Joined: 21 Dec 2007
Posts: 65

PostPosted: Tue Jan 22, 2008 10:10 pm    Post subject: Reply with quote

-deleted-
_________________
~Azizi Ah Lee


Last edited by khaifuy on Wed Nov 17, 2010 1:24 pm; edited 1 time in total
Back to top
View user's profile
ginger21



Joined: 23 Jan 2008
Posts: 3

PostPosted: Wed Jan 23, 2008 2:52 pm    Post subject: Reply with quote

is there such a thing as "no-hassle" mortgage at all??? Shocked
_________________
payday loan
Back to top
View user's profile
pakeminem



Joined: 26 Dec 2007
Posts: 37

PostPosted: Thu Jan 31, 2008 11:57 pm    Post subject: Reply with quote

I just read Personal Money February issue.

Page 69 lists top mortgage packages. You can choose based on your needs. If you buy props for investment, maybe you can choose no lock-in period package.

As for the penalty, since you have only 1 year to go, if you refinance, for that 1 year you may save a few 3 or 4 thousand, but what's the point of paying 8k penalty? we cant compare your savings for the whole tenure (if you refinance) but the saving on the 1 year that is left.

Have you read books on property investment? I read Azizi Ali's "How to Become a Property Milionaire". A lot of advices in all aspects of property investment.

I also know some banker friends if you need help.
Back to top
View user's profile
Display posts from previous:   
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Property Financing All times are GMT + 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



This is a free forum intended to foster communication between all users.
Hileytech Sdn Bhd does not guarantee the correctness or validity of postings, nor does Hileytech endorse any postings. No posting or contents in this forum can be copied and reproduced without prior permission from Hileytech and the owner of the posting. All other names and marks are trade names, trademarks or registered trademarks of their respective owners.
Powered by phpBB, Another web site by www.hileytech.com,Forum Archive
Tel : +603-89449965, +603.89449365 ::  Fax : +603-89440665 :: hiley@hileytech.com