REFINANCE ANYONE?

Anyone planning to re-finance?

We may have BLR-2.1/2.2.....need to pay 2.5% of the balance loan to lawyers(the final stakeholder sum), RM 1K++ lawyer fee..(all inclusive), RM 5k penalty fee..can be absorbed loan.

In short..I think we gain a lot in long run...any experts in this field??.
Those who tool loan back in 2006 will know how much we r loosing.

Bye

Why dont you refinance in 5 years time? how much will it cost you? how if you paid all the lawyer fee, the penalty then suddenly the bank started to change their rate again? May be this time is -2.5? haha.. My opinion is, refinance after the lock in period.. or if you are in the same bank, you can do restructure which doesnt need to pay any penalty at all..

JiNG wrote:Why dont you refinance in 5 years time? how much will it cost you? how if you paid all the lawyer fee, the penalty then suddenly the bank started to change their rate again? May be this time is -2.5? haha.. My opinion is, refinance after the lock in period.. or if you are in the same bank, you can do restructure which doesnt need to pay any penalty at all..

Which bank and when you take your Loan? - 2.5 was fabolous

well...but the penalty can cover with the around 10 months.... cos i doubt that the interest can go so so low..if its goes -2.5..its ok....if i get 2.1 & 2.2..cos now total is 5.75%....and ill cut down the number of yrs to 20 or 25..compared to 30yrs now.

who took oxbc bank last time? anyone sucess to ask for the rate reduction? can share how much you all get?

Previously they offer me -2.3 for term loan...

Hans - How much is your current rates? Because i got -2.00 so the point to refinance seems ridiculus... haha..

Jing...this does not applies to u...as i 've said this is more to those tool loan in 2006 or maybe 2007...

No wonder.. haha.. my bad my bad..

my loan is rediculos high 5.88% fix rate from oxbc on 2006. Just write the letter to apply for the interest reduction before refinance. Anyone sucess to ask for rate reduction from oxbc before? Pls share :p

my loan is from PB, BLR-1.6 too. plan to appeal for better rate but a little lazy to draft the letter.. anyone succeed in appealing with PB?

I got called up my previous mortgage loan agent.She switched to another department so she just pass my case to another person to handle.Seems dissappointing because I called her and asked to check how much is my house current value now as i wanted to refinance+cash out to do reno abit.She was telling me if i top up the figure, i will be getting blr -1.0 for all amount below 100k. Then she told me that our house value never increase before, but i told her that i got 1 time when i bring my friend to visit the show unit,the sales person(still working there) told me that got people bring "valuer" to do value calculation.Base on the infor provided,he actually told me that AHI is worth around 200k now.I asked him this because i told him that i wanted to sell out my unit and ask him if he know how much i can actually get from my unit.
Ok back to the banking things,my new takeover agent didn't call me up to follow up my case,maybe the amount is small so i take my chance to call her back.SHe promised to call back but in the end nothing happens.
So i seek some advise,and since my own company also provide loans(not the best rate),there was some senior teach me to write in to "beg" for new loans.

Sollution: In my opinion,the best way to get re-structure/re-finance is to another back to quote in.Get their offer letter 1st before u write in to your existing bank,is because u need to show them what u had been offered before u go and bargain.It is been told by most of them this is very effective because nowadays even bank and those finance company is competing against each other. Good luck in trying

I sucessfully appeal to BLR-1.8 for oxbc but log in period 5 years, anyone get the better rate?

mind to share how u do it?

no need to talk much, just draft a letter with title apply to reduce interest rate. In the letter told them what your expected rate, wat is the reason you asking for reduction, eg. current market situation, if you want, "bodek" them abit about their good service, bla,bla,bla and told you whats other bank offer you. then drop by any branch and hand the letter to them. sit down wait for about a week, they will call you back or send you the offer letter depends on the bank

thanks kelvin...i was thinking to re-finance and top up (cash out) from other bank.Now still considering it..

do u need to pay any penalty for ur current bank if you refinance? u can always appeal from ur current bank first. after that only compare with other banks offer. for me, although i just got blr-1.8 but it is the best rate for me, cause if i want to maintain same benefit i need to get at least blr - 2.4 from other banks. It is because i need to take into considerations all the penalty and lawyer fees.

another question is, can i do a top up ? I asked before from my O banker,she told me that if top up below 100k is blr -1.0 max.

Any1 know how much we can actually top up? Becoz some1 told me that AHI value haven increase so cannot top up

top up? what thats means? means u try to borrow additional money from bank uneccesary?? ur total loan ammount is below 100k now? wow? thats means ur down payment is alot wor @@ my loan ammount is 167K including MRTA.

Hi Kelvin, as I've mentioned before, they rejected in a nice way....i'm in the midst of applyinh with another bank with BLR-2.1....i'll include penalty RM5000 in the loan n pay the final 2.5% myself.....hope to gt it done in 3 months.......

it is neccessary for renovation and stuff ^^

Finally decided to refinance..hopefully the tranfer will be fast and save along the way.....paperwork already signed.....

hans, wat rate are u getting? You are from AHI rite? how much is the figure they are giving u?

As i know the bank haven't fully release all the loan. If not mistaken, still left 2.5% of loan remain.
In this situation, we still can go for refinance?
If Premier Consortium issue the letter request for money, how?