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 - Anyone interested in UOB Package?

 


    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 

Anyone interested in UOB Package?
Goto page 1, 2, 3, 4  Next
 
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Property Financing
View previous topic :: View next topic  
Author Message
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Wed Aug 16, 2006 8:25 pm    Post subject: Anyone interested in UOB Package? Reply with quote

As per 20 December 2006, UOB Bank just revised the new package of Flexi Mortgage, IHL maintain teh same bcz it is very competitive in the market and might be revise to betetr rate asap.

First 3 years : 5.75% ( Fixed)
Year 4-5 : BLR - 1%
Thereafter : BLR - 0.38%

Existing IHL Package ( Our best product )

For loans below 400k,

First 5 years : BLR - 1%
Thereafter : BLR - 1.15%


For loans above 400k,

First 5 years : BLR - 1.10%
Thereafter : BLR - 1.25



For Flexi Mortgage,

First 5 years : BLR - 0.90%
Thereafter : BLR + 0.10



alll bonding period 5 years ...
those above are our best selling products .... tell us what you want before we can offer you what we have ...

ty
_________________
Kenzo
Mortgage Consultant


Last edited by NewKENZO on Thu Dec 21, 2006 11:40 am; edited 3 times in total
Back to top
View user's profile MSN Messenger
KBK



Joined: 15 Jun 2005
Posts: 59

PostPosted: Wed Aug 23, 2006 9:49 am    Post subject: HL Reply with quote

Do u have any fixed single tier scheme similar like those been offered by AIA or ING ?
Back to top
View user's profile
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Thu Aug 24, 2006 10:25 pm    Post subject: Reply with quote

sorry ... normally only insurance company offered those scheme ...

as for my information, bank wont offer those whole tenure fixed scheme ... unless got touch with BLR .. ex whole tenure BLR - 0.75% or BLR - 1% ...

Bank only could offered fixed rates for first 3-5 years ... and thereafter would be touching the BLR. Bank Negara wont recommended any banks to use the fixed rate package bcz it will spoil the national economy.
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Fri Aug 25, 2006 12:40 am    Post subject: Reply with quote

islamic loans? i tot alliance offers fixed rate? no BLR involved.
Back to top
View user's profile
USSRanger



Joined: 24 Feb 2006
Posts: 153
Location: KL

PostPosted: Fri Aug 25, 2006 2:01 pm    Post subject: Reply with quote

NewKENZO wrote:
sorry ... normally only insurance company offered those scheme ...

as for my information, bank wont offer those whole tenure fixed scheme ... unless got touch with BLR .. ex whole tenure BLR - 0.75% or BLR - 1% ...

Bank only could offered fixed rates for first 3-5 years ... and thereafter would be touching the BLR. Bank Negara wont recommended any banks to use the fixed rate package bcz it will spoil the national economy.


good day KENZO,

u sound like u very fren with Bank Negara hoh Laughing


cheers
_________________
John 012-3789003
life too short for a WRONG job
Back to top
View user's profile Yahoo Messenger MSN Messenger
cw17



Joined: 06 Jun 2006
Posts: 89
Location: KL

PostPosted: Fri Aug 25, 2006 9:23 pm    Post subject: Reply with quote

why will spoil the economy huh if banks offer fixed rate?

and why only insurance company offer fixed rate huh? ie ING n AIA
_________________
life goes on;)
Back to top
View user's profile
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Fri Aug 25, 2006 11:14 pm    Post subject: Reply with quote

sorry, i dunno what word should i use to replace the spoilt the economy ...

why Bank Negara set a Base Lending Rate? Its because we follow the market interest rate and from time to time, all banks wouldnt be varies so much from each other unless BLR increases rapidly, like 10 years ago....
BLR was 8% to 9%, and most banks offered packages like BLR + 1 or BLR + 0.5 ... so all house loans customers enjoyed the same package, thats roughly abt 10% compare to 6% ater BLR nowadays ... because BLR drop after economy crisis ... so BLR is following IPU and basic economy ... BLR wouldnt increase without reason, if it increase means the rising or pushing of economy.

of course i understand that a lot customers would prefer fixed loan rate than those involve BLR, bcz you wouldnt need to worry much since 90% of the market insists BLR would increase again rapidly and would not go down from now ... but we cant judge this. i dunno what hapen tomorrow.
on this occasion, this customers would enjoy the same rate for whole tenure, means if u not prepare for refinancing, maybe this is good package but for most big company businessmen, they would definitely wont take the fixed rate. but according to fixed rate packages offered by AIA and ING, the clause are different with banks and the condition of approval is not as easy as banks and margin of finance is not as high as banks ... as well as, most of all, flexibility offer by bank such as prepayment, withdrawal, and etc.

Some people see the interest must be low as possible and some smart customers who plan to refinance again in after bonding period will definitely take the lowest averate interest rate, so they would enjoy the low interest rate over first few years ... its depends ... for most of businessmen i had handle, they less care abt the interest rate than the flexibility offer by banks ... bcz they will settle the loan asap, so flexi mortgage is ideal for them, they can cash in and cash out as flexi as possible .... its up to you what you can do for your housing loan to meet the package that suitable for you .....
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
tengster



Joined: 19 Jan 2006
Posts: 1033

PostPosted: Fri Aug 25, 2006 11:16 pm    Post subject: Reply with quote

cw17 wrote:
why will spoil the economy huh if banks offer fixed rate?

and why only insurance company offer fixed rate huh? ie ING n AIA


my guess is if banks offer fixed rate....and out of the sudden due to crisis, BLR went up like mad, all the banks involved will register lower profit.....this may hit bursa too.....my guess only.....

anyone care to further elaborate.
Back to top
View user's profile
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Fri Aug 25, 2006 11:18 pm    Post subject: Reply with quote

Martian wrote:
islamic loans? i tot alliance offers fixed rate? no BLR involved.


i not sure whether Alliance Bank offer Islamic Loan or not ...

Islamic Loan means Fixed Rate package without concerning of BLR ...

RHB offered 2 fixed rates ... 1 is BLR - 0.70% whole package and their islamic loan is fixed 7.8% whole tenure ....

For foreign banks, confirm dun have, Public Bank dont have, Hong Leong dont have as to last month, Maybank is alwis out of my priortity ...
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Fri Aug 25, 2006 11:21 pm    Post subject: Reply with quote

tengster wrote:
cw17 wrote:
why will spoil the economy huh if banks offer fixed rate?

and why only insurance company offer fixed rate huh? ie ING n AIA


my guess is if banks offer fixed rate....and out of the sudden due to crisis, BLR went up like mad, all the banks involved will register lower profit.....this may hit bursa too.....my guess only.....

anyone care to further elaborate.


wonderful description .... ur guess was correct ....

banks are register company too ... they would protect themselves from interest free ... the reason bank set up a bonding period, bcz in 5 years time, bank alredy make a mnimum profit if you move out ... but bank earn more than 100% if you make full disbursements ...
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Wed Sep 13, 2006 3:49 pm    Post subject: Re: Anyone interested in UOB Package? Reply with quote

NewKENZO wrote:
UOB Bank just release new package of Intelligence Home Loan, this is just for 200 mil capacity and to counter other banks fixed rate packages ...

First 3 years : 5.75% ( Fixed)
Year 4-5 : BLR - 1%
Thereafter : BLR - 0.38%

Existing IHL Package ( Our best product )

For loans below 400k,

First 5 years : BLR - 1%
Thereafter : BLR - 1.15%


For Flexi Mortgage,

1st Year : BLR - 4.75%
2nd Year : BLR - 1
3rd Year : BLR - 0
Thereafter : BLR + 0.15



alll bonding period 5 years ...
those above are our best selling products .... tell us what you want before we can offer you what we have ...

ty


I am still thinking, which package to choose, fixed for few years or BLR-1% .... sigh.

Btw, what is the different between Flexi Mortgage and IHL ?
Back to top
View user's profile
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Thu Sep 14, 2006 4:30 pm    Post subject: Reply with quote

So, actually of coz the BLR - 1% for first 5 years is the best or cheapest rate in whole tenure. But if u have a plan to refinance after lock in period, then you should choose the 5.75% fixed rate. the fixed rate for first 3 years is save bcz within this 5 years, you save a lot while the interest rate for 4th and 5th year is also BLR - 1%, just the thereafter is only BLR - 0.38%

Thats why i believe BLR -1.15% is very good package. If BLR increase rapidly, you still can refinance to cover the interest.

The difference btwn Flexi mortgage and conventional loan is conventional loan like IHL is term loan and the prepayment is not as flexible as Flexi Mortgage. Flexi Mortgage , you got cheque book facility and you just need to write a cheque for withdrawal. while IHL u need ATM card or go to counter for withdrawal. Hence the IHL save a lot interest and this package is specially for those have steady and fixed income.

Those businessmen should take Flexi mortgage bcz they make a lot of transactions and need some cash to inject into their business. For flexi mortgage, you have acurrent account. If your loan is RM200,000 and you dump in RM60,000 into ur current account ... the interest charge will base on RM140,000 not RM200,000. While for conventional loan or term loan, its stilll charge based on actual loan, RM200,000. Tat is big diffference for those who have lot of cash but not willing to put into downpayment.

So you get what i mean?
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
trojan



Joined: 17 Mar 2006
Posts: 198

PostPosted: Thu Sep 14, 2006 11:56 pm    Post subject: Reply with quote

NewKenzo, I'm also evaluating which bank loan I'm going to take. UOB rate is very attractive. However, from bad experience I had with another bank, I think the quality of service is also important for me.

Can you advise what is UOB commitment for the first drawdown?
I mean the period between I signed the offer letter to the time UOB is ready to release the first progress payment to developer?

With the following situation:
- Freehold landed property with no encumbrance,
- I have no credit problem (CCRIS),
- No restriction like bumi-lot.

Thanks!
Back to top
View user's profile
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Fri Sep 15, 2006 3:38 pm    Post subject: Reply with quote

Hello trojan,

Usually, after you sign the Letter Offer, i will let you keep a copy, and the remaining 2 copies will pass to branch and loan agreement lawyer. In about 10 days time, lawyer will contact you to sign the loan agreement, after that, lawyer will sent the letter of execution to bank and bank will release the money in 2 months time.

According to your statement, if the developer is wiling to co-operate and make the things fast, it much easier for lawyer to do the thing fast and money willl release sooner than we expected.

Actually i cant promise you anything abt UOB commitment bcz i scared over-promise. Its all depends case by case basis. Like, if the developer is slow to hand in documents, the progress will be slow ... if you purchase property from another vendor, if his S&P lawyer is slow, the drawdown also will extend.
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
jewoley



Joined: 16 Sep 2006
Posts: 8

PostPosted: Sat Sep 16, 2006 3:51 pm    Post subject: Reply with quote

Question!

IHL for less than RM400k, any chance there's a graduated payment scheme? I'm actually interested in ChangkatView and I got to know UOB is one of the financers.

Any charges for extra payments? Payments into the principal?
Back to top
View user's profile MSN Messenger
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Wed Sep 20, 2006 10:06 pm    Post subject: Reply with quote

Yes. If you make extra payment. It will deduct from the principal. Subject to you dont withdraw the extra amount you prepaid.

Example .. IHL for 100k loan ... lets say each month instalment is RM1000 ... so if at July, u prepaid RM3000 ... means extra RM2000, therefore u can choose not to pay August and September instalments. And If u keep pay RM1000 for August, the interest calculated on August willl be base on 98k (less 2k principal)
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
wb4j



Joined: 12 Aug 2005
Posts: 8

PostPosted: Sat Sep 23, 2006 11:13 pm    Post subject: Reply with quote

Is the prepayment calculated in daily or monthly rest?
Back to top
View user's profile
Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Sat Sep 23, 2006 11:38 pm    Post subject: Reply with quote

daily rest......
Back to top
View user's profile
wanyob



Joined: 25 Sep 2006
Posts: 36

PostPosted: Mon Sep 25, 2006 2:08 pm    Post subject: Reply with quote

Its possible to get 100% loan?
Back to top
View user's profile
KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Tue Sep 26, 2006 1:48 am    Post subject: Reply with quote

Normally how long it will take to approve/reject the loan application. If I sign the thing, how long should I wait until for the first payment being released? And what is the process in between?

And I found that UOB is not in IBG list. So making prepayment might be a problem for us, since not so many branch around my area. So normally how you guy doing the payment? Why OCBC, HSBC ... etc bank are inside IBG list but UOB is not Confused
Back to top
View user's profile
Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Tue Sep 26, 2006 10:07 am    Post subject: Reply with quote

generally, it takes no more than a week to know the result of ur application once all the documents have been submitted. from signing to actual disbursement, it depends on situation like r u dealing with a seller who is still owing money to his banker, efficiency of lawyers of buyer, seller, banker and also of the bank's staff itself. normally about 2 months in my experience.

generally, ur banker's lawyer will talk to ur S&P lawyer and do all ground work like getting S&P, check title, prepare all sorts of documents for u to sign, then will deal with ur seller's lawyer at same time and also seller's banker's lawyer and the seller's bank to confirm how much money still owing. once they clear that, ur bank will pay to seller's bank to settle the amount owing, then seller's bank release the title, ur bank's lawyer will arrange for it to be charged to ur bank, finally, ur bank pay remaining amount to seller.
Back to top
View user's profile
KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Tue Sep 26, 2006 10:11 am    Post subject: Reply with quote

Thanks Martian Smile If I am going to buy a new/under con property, will it to be faster? My developer inform me that, they only allow 2 weeks for me to apply loan until the loan release .... Rolling Eyes
Back to top
View user's profile
Martian



Joined: 31 Mar 2006
Posts: 1402

PostPosted: Tue Sep 26, 2006 10:29 am    Post subject: Reply with quote

you're welcome KenLee. i'm not familiar about buying from developer but i guess if u take from their panel bankers it could be faster as they should have all details pertaining to the title deeds. but 2 weeks is really a very short time frame. u can apply first and ask i the bank.

wat development u buying? pretty arrogant developer if u ask me. any reason for the tight deadline?
Back to top
View user's profile
KenLee



Joined: 03 Sep 2006
Posts: 53
Location: KL

PostPosted: Tue Sep 26, 2006 11:23 am    Post subject: Reply with quote

I am buying 5th floor, and they are now building 7th floor, maybe this is the reason they need $$$$ fast. Sad But 2 weeks is very SHORT. They didnt give me any reason for this. The sales admin in developer office just said, apply loan no need so long one, enough one. Rolling Eyes
Back to top
View user's profile
NewKENZO



Joined: 01 Jun 2006
Posts: 198
Location: Subang

PostPosted: Tue Sep 26, 2006 8:59 pm    Post subject: Reply with quote

Sorry for my late reply ...

Yeah, usually developer only give customers 2 weeks to get loan. But dont worry, the period for you to sign the S&P is 3 months or 3+1 months. But still customer should get loan first bcz loan can approve within 3 working days (provided good CCRIS or no bad debt record) and applying loan is free of charge. If customer choose to sign the S&P and then apply for loan, if the application is fail, customer have to serve interest or pay the penalty charge for the S&P and lost the earnest deposit fromm estate agent.

KeeLee : What is IBG list? If u mention about payments over ATMs, that is 4 banks and the 4 banks are UOB Bank, OCBC Bank, HSBC and Standard Chartered. You can use ur HSBC ATM card to withdraw money at OCBC or UOB (same as MEPS) I confirm UOB is included and the only bank miss out is Citibank.

If u submit the full documents, it took only 3 working days. If the loan is big or developer got problem, maybe 4 days. After the loan approve, the Letter Offer will release in 2 days. After customer has sign teh Letter Offer, officer will bring the Letter Offer to lawyer and lawyer will contact customer to sign the Loan Agreement. Then in the meantime, lawyer will check will ur S&P lawyer or old vendor or developer so that the drawdown can be release asap.

wanyob : UOB never approve 100% loan.


thanks Martian for answer few questions to ppl in this column. Thanks!
_________________
Kenzo
Mortgage Consultant
Back to top
View user's profile MSN Messenger
Display posts from previous:   
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> Property Financing All times are GMT + 8 Hours
Goto page 1, 2, 3, 4  Next
Page 1 of 4

 
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