Changing banker for housing loan.

[gunnerzz]

Anything u want...
Umbrella is common.ask for backpack or laptop bag.
most probably next year diary has arrived so ask for that.
if happen there is a display rack in the bank then ask for anything u see in the display.last time hong leong have this small yet elegant small clock to put on the table.
Dont be shy despite what people said,u have the right.
fyi,the bank does have gift from a simlle pen to premiun item.They will try not to give to cust and in the end they share it among themselves.

btw,how about the processing fee?
U can ask for waiver.

on the lawyer,u can bring your offer letter and ask around for quotes if u have the time.better option is to go for the bank's panel as they are familiar with the bank's documentation.

on your epf withdrawal if u want to,just bring the letter offer and your stamped s&p to nearest epf office.bring along your prefered ac passbook or if passbookless brings an account confirmation from the bank.

 

[john_unai]

I see.. I will ask the banker for the processing fee waiver. I will take the bank's panel lawyer for the s&p preparation and then withdraw my epf saving once all is ready. The banker did inform me on the discount for 1st house buyer on stamping. Any other fee that i can ask for waiver or discount?

 

[gunnerzz]

If not mistaken the discount on stamping is for islamic financing only so i believe yours is islamic package then.

things u can ask for waiver or discount:
1.processing fee-waiver
2.legal fee s&p-discount
3.legal fee documentation-discount
4.valuation fee-waiver of valuation process or if not allowed then discount on the fee 30%-40%.most of the time they gave 20%.

u should ask in detail what are the fees involve in yr loan.
i seperate the legal fee as most of the time they refered it as one so u wont know how much they charge for each process.

 

[vr2turbo]

on your epf withdrawal if u want to,just bring the letter offer and your stamped s&p to nearest epf office.bring along your prefered ac passbook or if passbookless brings an account confirmation from the bank.

EPF withdrawal after getting the loan? Last time when I bought my unit some time ago, I applied for EPF maximum withdrawal, then cover with bank loan for the balance....:hmmmm:

 

[john_unai]

EPF withdrawal after getting the loan? Last time when I bought my unit some time ago, I applied for EPF maximum withdrawal, then cover with bank loan for the balance....:hmmmm:

there are few types of epf withdrawal for house buying. If i have a lot of epf saving, I will do the same. the problem is my epf acc 2 saving is not even 10% of the house value that i want to buy.hehe

 

[gunnerzz]

EPF withdrawal after getting the loan? Last time when I bought my unit some time ago, I applied for EPF maximum withdrawal, then cover with bank loan for the balance....:hmmmm:

U r an uncle already....since i start work las time,no such method anymore.
Now epf a bit smart to prevent people from withrawing saving easily.Then again a bit smart only.
Fake offer letter and s&p oso can withdraw.They seldom check.
If ac 2 has less than 10% then can withdraw all.if not there is a formula to calculate but i forgot already.

if u apply forst then only apply loan,there is no guarantee your loan is approved so u will loss your deposit or initial sum and epf will loss fund to buy crony this and that.

Then there is a way to get monthly withdrawal credited into your saving account if your balance is enough for 6 month payment.Each month they will credit the same amount as your installment into your saving ac after deducting from your epf ac.some epf officer will teach u this but most just kept quiet.

juhn unai,
u can google about how daily interest work and lear how paying twice a month will save u on interest.paying twice is not paying your installment twice but splitting the amount.then again u must understand how the bank's system work.different bank have different system and treatment to extra or advance payment

 

[vr2turbo]

U r an uncle already....since i start work las time,no such method anymore.
Now epf a bit smart to prevent people from withrawing saving easily.Then again a bit smart only.
Fake offer letter and s&p oso can withdraw.They seldom check.
If ac 2 has less than 10% then can withdraw all.if not there is a formula to calculate but i forgot already.

if u apply forst then only apply loan,there is no guarantee your loan is approved so u will loss your deposit or initial sum and epf will loss fund to buy crony this and that.

Then there is a way to get monthly withdrawal credited into your saving account if your balance is enough for 6 month payment.Each month they will credit the same amount as your installment into your saving ac after deducting from your epf ac.some epf officer will teach u this but most just kept quiet.

juhn unai,
u can google about how daily interest work and lear how paying twice a month will save u on interest.paying twice is not paying your installment twice but splitting the amount.then again u must understand how the bank's system work.different bank have different system and treatment to extra or advance payment

Ya, ya, unker dy. My system long ago...

Now got new system like withdraw to lower the loan amount, right?

Yah! the twice payment method on the long run can save quite a lot. This is really good advice.....

 

[john_unai]

the daily loan is like flexi loan ar? the hsbc bank explain to me bout the reducing interest base on how much you have in ur account. in d end it save like 10 months worth of our installment. for example, let say our loan is 360, we can finish finish the installment within 350 months. dunno about d twice payment a month though, will google it. I noob in this banking thing. hehe

 

[gunnerzz]

Flexi loan in geral is a loan ac which behave like a current ac.
Good if u have gazzilion amount of cash under your bed.
Most of the time businessman opt for this type of loan/financing.

For extra payment some bank treat yr extra payment as advance payment which in return wont benifit u at all for reducing interest.they sort of float the amount extra payment and only deduct from the amount when u default payment.
Ask your banker about paying more than the installment.

Some bank require u to write a letter 1 month in advance.some just dont care as long as u pay but different code is used to credit the payment.dun worry the code part is for the bank to worry.

In order to save,the payment u made must reduce your loan principle.

 

[john_unai]

Ok..ok..the banker never mention this kind of thing. look like i have to meet and ask him again.

 

[gunnerzz]

Ask everything....
Anything,nonmatter if it sound stupid