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Malaysia Real Estate :: View topic - Anyone taken HL with SBB (Urgent reply)

 


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Anyone taken HL with SBB (Urgent reply)

 
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preacher



Joined: 20 Oct 2005
Posts: 470

PostPosted: Sun Oct 23, 2005 3:34 pm    Post subject: Anyone taken HL with SBB (Urgent reply) Reply with quote

Guys,

Applied for a HL with SBB as their rates was quite attravtive. Y1 (0%), Y2 (BLR-1%) thereafter (BLR + 0.1%).

Was thinking to sign with SBB until I got the Letter of Offer (LO) and tentitive payment schedule. Assuming full drawdown now, I am required to pay app. RM1.5K based on the 6.1% even in Y1 with the entire amount being used to reduce the principal amount instead of just RM900 based on 0%.

WTF man. If they advertised a 3-tier interest rate, they should be a 3-tier payment. Was told by the SBB guy that "all" their HL Packages are like this. Told him to re-check as I am not interested.

Anyone here used SBB and am I getting ripped off here as I feel that I am.

RHB and Public have verbaly told me that my payment will be a 3-tier but still waiting for LO. Waiting to see UOB also as they payment schedule they gave me is also 3-tier.

Thanks
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prody



Joined: 11 Sep 2005
Posts: 116
Location: KL

PostPosted: Sun Oct 23, 2005 4:19 pm    Post subject: Reply with quote

I have exactly the same situation as you. Letter of offer states 360 payments of xxxx RM each (Alliance bank). Even the letter of offer from HL Bank also states the same.

But when I enquired about it, both said I can pay for just the interest in the first year.
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candic3



Joined: 07 Jun 2005
Posts: 96
Location: Alliance (Mortgage)

PostPosted: Mon Oct 24, 2005 1:05 am    Post subject: Reply with quote

ya... actually u are not gain anything from 0% interest for the 1st yr. Many banks are actually offering this kind of package which actually u are unable to make a single cent to reduce the principal.

Citibank just launch packages specially for their Card Holders.
Special Developer Package: -
1st yr: 1.5%
2 - 3 yr: BLR - 0.5%
4 - 5 yr: BLR + 0%
Thereafter: BLR + 0.15%
Upon Completion of project
6 - 10 yr: BLR - 0.15%
11 - 15 yr: BLR - 0.45%
16 - 20 yr: BLR - 0.85%
> 20 yr: BLR - 1.35%
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preacher



Joined: 20 Oct 2005
Posts: 470

PostPosted: Mon Oct 24, 2005 11:41 am    Post subject: Reply with quote

Unfortunately heard that Citi's MOF is only like 80%. HSBC is only giving 90%. MRTA bayar sendiri.
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candic3



Joined: 07 Jun 2005
Posts: 96
Location: Alliance (Mortgage)

PostPosted: Mon Oct 24, 2005 11:05 pm    Post subject: Reply with quote

citibank's MOF is up to 89% subject to capping availability.
According to my frd who work in HSBC, not all cases will get MOF of 90% ... there are many circumstances to reduce the MOF...
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