Malaysia Real Estate

[brennbar67]

Exciting news!!!
Special Rates on our AIA HOME LOAN packages.
This special offer is for limited period up to August 31, 2008 subject to availability of funds whichever is earlier!


**Note: Waiver of AIA Life Insurance or AIA MRTA/MLTA can only be considered for LTV 80% and below.


NEW MINIMUM LOAN AMOUNT
The minimum loan amount for all the packages has been reduced to RM100,000.

CUT OFF PERIOD
The special offer can only be given to customers who have not accepted our loan offers and not applicable for those who have already accepted our letter of offer or under loan documentation. The effectivce date of this offer will commence on May 12,2008.

Hurry and don't miss this opportunity!

[bryanniau]

Yes....this is very exciting news.

[parven]

Hi guys,

Anyone here looking for home loan that gives full flexibility?

Refinance or apply for a new home loan.We offer great mortgage rates on refinance loans, home loans for completed or under construction -only mortgages for your home.

For further information please feel free to drop me a mail at veen_0809@yahoo.com. Would like to assist to guys on home loans.

Regards
Parven
Alliance Mortgage Consultant

[USSRanger]

[BumbleBee]

hi, just wan to check out on the AIA fixed mortgage loan.

Is there any extra charges / monthly charges / hidden charges?
Cos from the offer i get, i need to pay extra RM2 monthly compare with the normal banking loan calculation.
what is this RM2 for?

Thank you!

[USSRanger]

[BumbleBee]

[brennbar67]

[Thiaygu]

Hi,
Is in AIA loan we can pay extra then what suppose we pay to reduce the interest. Do we can take the extra money we pay if we needed?
_________________
**``McLaren``**

[brennbar67]

Hi,
Yes, AIA home loan is allowed for extra prepayment.
For the extra prepayment, no withdraw facility offer as all your payment being used to pay the loan, and save the interest and shorten the loan tenure.

Do you really need the withdraw facility if you had done a proper financial planning? In fact, some bank may charge you for the withdrawal facility even if you are not utilising it.
The definition of prepayment means paying off all or a portion of your loan before it’s due. You can read more about prepayment on the following links.
.://..finweb.com/mortgage-loan-education/all-about-prepayment.html

[alzack]

Does AIA have any affiliate program? Coz i think i can persuade few friends to refinance to this package..

[brennbar67]

Hi alzack,
You can recommend your friends to me, and I can help your friends to do a loan analysis for free.
And I will teach them some strategies that can apply in the loan when take up the loan from me.

[brennbar67]

Dear Homeowners,

Inflation is definitely in....
(Petrol price up $1.92 to RM2.7/liter... Rice price up from RM16 to RM30+/10kG... bowl of mee price also up...)

Below is the news of Indonesia increasing its interest rate, so did Vietnam, Pakistan, Thailand Etc....
The likelyhood of BLR increasing....? You guess..... But more importantly...

Question 1:
Have you lock in your Housing Loan with a Guaranteed low Fixed rate Home Loan (5.7% or 5.8%) with AIA...??
Or your loan(s) are still one of those "Great Flexibility Floating" rate packages with the Banks...??

Think hard over the weekends,
If you got a loan of BLR - 2% now, all it takes is an increase of 0.45% for a 30 yrs loan,
and all the savings in interest you got currently calculated will be gone, compared to a 5.7% Fixed rate.
(Worse, if your current loans are under BLR - 1% or lagi teruk if its BLR + 0.2% or more...!!! )
Those who wanted to know more, email me or contact me.
Apply with AIA now, for a REAL "Peace of Mind".


-----------------------------------------------------------------------------------


Indonesia Raises Key Rate as Asia Battles Inflation (Update1)
By Aloysius Unditu and Arijit Ghosh

June 5 (Bloomberg) -- Indonesia's central bank increased its benchmark interest rate for a second straight month, as surging food and energy prices force policy makers across Asia to tackle inflation.

Governor Boediono , in his first policy decision since taking over the post, raised the rate used as an indication for bill sales to 8.5 percent from 8.25 percent. Five of 17 economists in a Bloomberg News survey predicted the decision, announced by the central bank in Jakarta today. The other 12 expected a half-point rise.

Vietnam and Pakistan last month increased interest rates as near-record oil costs and surging rice and wheat prices drive inflation across the region. The Philippines also raised borrowing costs today for the first time since 2005 and Malaysia may follow suit after increasing petrol prices by 41 percent at midnight, some analysts say.

``It's a real dilemma for the central banks. They are facing their most testing time since the Asian crisis ten years ago,'' Robert Subbaraman chief economist at Lehman Brothers Asia Ltd. said in an interview with Bloomberg Television. ``Growth is clearly slowing in the region'' and ``at the same time inflation has picked up.''

Stocks Rise
Indonesia's benchmark stock index rose as much as 0.9 percent on the less-than-expected increase in borrowing costs. The rupiah fell 0.1 percent to 9,328 against the dollar at 2:31 p.m. in Jakarta.

``They realize that the increase in inflationary pressure is coming from the supply side,'' said Purbaya Yudhi Sadewa chief economist at the Danareksa Research Institute in Jakarta. ``Hiking interest rates too much will not be able to depress inflationary pressures significantly.''

To increase their control on money supply which rose 15.3 percent in March, the central bank will switch its benchmark measure to track the overnight rate starting June 9.

Bank Indonesia will maintain a 3 percentage point interest rate band between the measure and its repurchase agreements with commercial banks, Deputy Governor Budi Mulya said at a briefing in Jakarta today.

The State Bank of Vietnam raised its policy rate to 12 percent from 8.75 percent on May 19, after inflation surged to 21.4 percent in April, the fastest since 1992. Pakistan on May 22 increased borrowing costs by 1.5 percentage points to 12 percent, after the central bank said 2008 inflation may average more than 11 percent compared with a prior target of 6.5 percent.

Inflation Forecast
Bank Indonesia is trying to keep inflation from exceeding its year-end forecast of 11.5 percent to 12.5 percent as companies pass on higher costs of food and fuel to consumers.

The central bank expects to keep inflation between 5.5 percent and 7.5 percent next year, Deputy Governor Hartadi Sarwono said at a briefing in Jakarta today.

Financial services companies such as PT Bank Mega are preparing to raise lending rates, said Daniel Budirahaju credit director at Bank Mega. ``Definitely we will raise rates because the cost of funds will increase,'' he said.

Costlier wheat, soybean and oil pushed Indonesian inflation to 10.4 percent in May, the fastest in 20 months. Price gains are forecast to accelerate as the expense of transporting supplies across the world's largest archipelago rises following a 29 percent increase in fuel prices last month.

Fuel Subsidies
Inflation is quickening in other Asian nations, which are raising fuel prices as energy subsidy costs threaten their budgets. Malaysia increased pump costs for petrol by 41 percent today, with gasoline prices in India's capital New Delhi rose 11 percent from midnight.

Soaring energy costs in Thailand pushed the inflation rate to 7.6 percent last month, the highest in close to a decade. Malaysia's consumer prices will rise an average 6 percent this year, from the 3.2 percent previously estimated, Goldman Sachs Group Inc. said in a report after the fuel price increase was announced by the government yesterday.

Today's move by Bank Indonesia is ``unlikely to be the last increase,'' said David Cohen director of Asian economic forecasting at Action Economics in Singapore. Cohen expects rates to be raised to 10 percent by year-end.

Bank Indonesia increased its key rate for the first time in more than two years on May 6.
``We prefer to monitor and gradually increase BI rate going forward,'' Sarwono said. ``On one hand a 25 basis point increase signals that the central bank sees a strong inflationary pressure.''

(source: Bloomberg)

[zearcher]

Hi all,

I am in my final stage of evaluating a home loan package for my upcoming property purchase. I am not a financial expert, but I would like to share with you some of my own anlysis and it will be thankful if you guys out there could help me up further.

One bank (hereinafter referred to as "BANK A") offers me a loan package based on BLR - 2.2%. At the moment, I could not get any other better rate than this!! I almost committed to sign loan agreement with BANK A but not until the recent economy conditions that hit Malaysia such as rice, petrol hike, inflation, etc.

I decided to take a step back and reconsider Fixed Rate home loan offered by AIG. AIG offers me a 5.8% fixed throughout 20 years tenor. No brainer... How in the world that AIG's 5.8% would win over BANK A's BLR - 2.2%? Assuming if BLR always remain unchanged at the current rate of 6.75%, then BANK A would save me RM170K by end of 20 years loan period.

I can't predict what will happen in the future... I am uncertain if we will be facing yet another major economy crisis or recession? Will the current BLR of 6.75% be increased or decreased in the next 20 years?

I created my own loan amortization table using spreadsheet to make an apple-to-apple comparison between BANK A vs. AIG. As I am going for the 20 years loan tenor, I simulated the entire BLR of each year for the past 20 years (starting 1988) in my calculation rather than to be based on a flat 8% (an average BLR for the past 20 years) for comparison purpose.

If my assumption in the said simulation above is correct... then the no brainer answer would be the other way round... AIG's 5.8% fixed interest rate TKO BANK A's BLR - 2.2%. I see a minimum of RM150K - RM200K total interest savings over 20 years tenor!!

However, I am current case, I do plan to settle my home loan within 10 years. by using the same simulation, AIG still show lower total interest charges as compared to BANK A... with smaller gap approx. RM15K.

Based on today's rate, for my case, BANK A's BLR - 2.2% vs. AIG's 5.8% give a installment different of approx. RM600 per month. In short term, additional RM600 per month can be a painful experience to me. How I wish I could be a good fortune teller or with a powerful sixth sense that could see what will happen in the future... since I can't, I still need to make decision in this T junction!! My verdict... I will go with AIG offer to have a peace in my mind.

I wish to hear from you... if I have made a wise decision... Can you also share with me about what you think of the future economy and BLR in Malaysia.

Thank you.

[wesco]

[quote="brennbar67"][b][size=18]Exciting news!!![/size][/b]
[b]Special Rates on our AIA HOME LOAN packages.[/b]
[b]This special offer is for limited period up to August 31, 2008 subject to availability of funds whichever is earlier![/b]

[img]..img108.imageshack.us/img108/4696/aiahomeloanpackagespecilj6.jpg[/img]
**Note: Waiver of AIA Life Insurance or AIA MRTA/MLTA can only be considered for LTV 80% and below.


[b]NEW MINIMUM LOAN AMOUNT[/b]
The minimum loan amount for all the packages has been reduced to [b]RM100,000[/b].

[b]CUT OFF PERIOD[/b]
The special offer can only be given to customers who have not accepted our loan offers and not applicable for those who have already accepted our letter of offer or under loan documentation. The effectivce date of this offer will commence on [b]May 12,2008[/b].

[size=18][b]Hurry and don't miss this opportunity![/b][/size][/quote]


I am planning to purchase a house in Bkt Jelutong at RM460k. Currently, I am applying the loan (RM320k, 70% LTV) from AIA and other banks as well. According to the discussion, I was asked to purchase the MRTA/Mortgage Life if I intend to take the loan from AIA.

With reference to the clause "Waiver of AIA Life Insurance or AIA MRTA/MLTA can only be considered for LTV 80% and below."

If I don't want to buy the AIA Life Insurance or AIA MRTA/MLTA, will this affect my loan application? I mean delay my loan application process. Coz the agent intend to sell me the protection plan. I need some time to digest the insurance plan before making any decision.

Will the agent "says" that AIA Life Insurance or AIA MRTA/MLTA is a requirement for all AIA Home Loan application? How do I know whether the agent is honest in assisting me for the loan application?

[general_hoho]

hi..
just to ask out of curiosity.. what is the penalty for defaulters for AIG? how much does it cost? is it compounding? thnx

[zearcher]

assuming fixed rate at 5.8% daily rest. typically installment must be made by seventh day of month. late payment charges is + 1% of fixed rate of 5.8%. which means 6.8%

assuming your monthly installment is rm1k per month... if late for 10 days... then the calculation will be

(RM1000 x (5.8% + 1%) / 365) * 10 days = RM1.863

[zearcher]

wesco,

i am dealing with AIA too... as far as i know, AIA treats MRTA or MLTA independent from home loan. well, either one is for your own protection especially for your family.

for my case, after the evaluation, i have decided to go with MLTA instead of MRTA.

[zearcher]

wesco,

i am dealing with AIA too... as far as i know, AIA treats MRTA or MLTA independent from home loan. well, either one is for your own protection especially for your family.

for my case, after the evaluation, i have decided to go with MLTA instead of MRTA as MLTA provides guaranteed cash value (which normally break even by year 15) and better protection to your family member.

[zearcher]

i met with 2 insurance companies who offer fixed rate home loan... their sales stories are similar... mainly using the average BLR for the past 20 or 30 years (which is approx. 8++%). If this is still not convincing enough, most likely they will "prove" it to you how scary is the high interest that impact borrowers that happened in the 80s and 90s, which exceeded 10% up to 12.7%

well... there is certain fact in it... but be smart when you evaluate these fact. it is correct that Malaysia BLR exceeded 12% in the past but not frequent. one happened in mid 80s during global recession and the second one happened during 98's financial crisis.

i find it none of the insurance sales person would like to further elaborate on its frequency. let me start with the 98 BLR. 12.7% only last for very short few months, then dropped to 7-8%. as for the mid 80%, it was a global economy crisis/recession that impact not only international trade but also domestic.

if you are not familiar with economic, time to learn some new knowledge. check out the following topics...
RECESSION AND INTEREST RATE
TYPE OF INFLATION, AND ITS IMPACT TO INTEREST RATE

[ys126]

not to argue or to fight for business, but i do think the sales person from insurance company will tell you the BLR will increase. But non of them will tell you the BLR will decrease also!
Actually one of the factor Bank Negara increase the BLR is to control the inflation rate. So once the economy is stable, it will decrease.
_________________
Have a nice day!!!!!
hp: 012-9359477
email: tan.yewsiong@uob.com.my

[PeaceOfMind]

Seems some of us here are wondering how the BLR will be going recently, go up or go low? let's have a predict here.....i will say OPR will increase another 0.25% on JULY 2008, so BLR will increase 0.25% = BLR 7%, any one here say BLR will turn lower?

Jerry = 012-6028819 (jerryphang@hotmail.com)

[zearcher]

[tee_frank]

I Wonder whether my friend (aged 56) can apply for AIA's Individual Credit Protection if he already has a 10 year term loan of 4.5 million for his Warehouse just recently approved.

He doesn't want to refinance the loan because he doesn't want to go through the hassle of reapplying for the facility but he wants the protection.

If that's possible, how much would the insurance premiums probably be? What application forms / documents to furnish? Medical exams? Other requirements?