"If the loan is fully settled within 1st 6 years from 1st drawdown, a prepayment fee of 3.0% shall be charged on the original loan amount or subject to a minimum prepayment fee of RM5,000 whichever higher"
10 comments:
Smiling MY
said...
Aku ingatkan full settlement ni, kalau kita abis bayar hutang (not likely abis dlm such short period).
Aku tak tahu yang bila kita jual, bank akan arrange buat full settlement. So, in case aku nak jual, kena tunggu lepas 6 thn baru boleh jual.
ni utk tanah aje ke utk semua mat yie, sbb setahu aku ramai juga yg broker jenis beli rumah sekejap, naik harga sikit jual balik, rasanya jenis ni loan tak sampai 2 tahun pun, atau dia jenis tak buat loan, bayar deposit aje, any idea???
Azraf, Sebenarnya mmglah kita most likely tak mampu nak settle rumah dlm 6 thn, tp kalau kau nak jual rumah dlm tempoh tu, kau akan obliged dgn clause ni (ni apa yg aku baca kat blogspot mana tah). Sbb bila kau jual, kau dikira buat full settlement, dan u'll be fined as per clause. Cuma aku ada terbaca, kalau kita refinance pun kena jugak. Aku pun tak faham yg ni dan tak sure betul ke tak. Kenapa refinance? Biasanya sbb BLR naik gila2 atau kau nak bayar rendah by extending loan period.
Pesa, Spt aku cakap, tak semua bank ada lock in period dan kalau ada pun ia varies. Pernah terbaca lock in period (kalau ada) biasanya 2-6 thn, depend pada bank & package.
Ini loan dgn AMBank utk apartment. Loan aku dgn Bank Rakyat takde lock in period.
Maksud aku, kalau sapa2 yg nak buat beli rumah, kalau boleh faham apa implication clause kat dlm tu.
Pasal broker kau cakap tu, mungkin dia pakai loan yg takde lock in period. Ada jugak buat camni... Dia bayar 10% d/payment dan dlm masa 6 bulan dia kena dapat loan. So, sebelum 6 bulan dia cari pembeli dan jual his marked up price. Buat duit atas angin...
Tang broker tu, aku tak berapa pasti, just terbaca/org bagitahu jer...
Okay guys, there are two ways out of this clause: 1. Kalau kau jual rumah less than the lock in period years, get your buyer to take from same bank. You can then nego with the bank to let you off the hook in exchange for this. But you better make sure that your property is in high demand area for this to work! 2. If you wish to refinance less than 6 years, get a bank who is willing to pay for the lock in period. I did that for my house. If your property is worth over 500k, chances are the refinancing bank will be more than happy to pay for the penalty.
Remember, loan rates and clauses are also negotiable, they are not always fixed.
Another clause to watch out for is whether your lock in period begins on FIRST drawdown or upon FULL drawdown. You have to be careful on this especially if buying from developer. Kalau beli from developer, and its upon FULL drawdown, that means you'll be locking in even longer, up to additional 2 years as full drawdown does not happen until after the 18mth warranty period expires.
It is also possible to get a loan with no lock in period, but these type of loans would not have other 'freebies' like zero moving cost and those with the minus BLR. Usually kalau this type of loan dia akan plus BLR. But it may be worth it especially if you're buying to flip the properties i.e. immediate sell. But i suggest you do the calculations first to compare which method saves you more money, taking with lock in period and pay penalty, or pay higher loan amount for up to the period that you sell the property.
Another thing about refinancing, you may not necessarily do refinancing with another bank, but do u know that you can also 'refinance' with your own bank. The good thing about open competition (dont you think competition is good for our country?) is that the banks are also afraid of losing their own customers. So if the rates have been going down, especially the minus gets bigger, you can write to your bank branch to request a revision of your rates. You may have to pay a small admin charge, but its worth it considering the amount you save. If you are a good paymaster, changes are they will probably give you that rate coz they know another bank would be knocking on your doors to get you in. So guys, it pays to be a good paymaster.
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"If the loan is fully settled within 1st 6 years from 1st drawdown, a prepayment fee of 3.0% shall be charged on the original loan amount or subject to a minimum prepayment fee of RM5,000 whichever higher"
10 comments:
Aku ingatkan full settlement ni, kalau kita abis bayar hutang (not likely abis dlm such short period).
Aku tak tahu yang bila kita jual, bank akan arrange buat full settlement. So, in case aku nak jual, kena tunggu lepas 6 thn baru boleh jual.
3% dari ori. loan amount ni equivalent 3k utk setiap 100k.
Nasib baiklah loan aku bukan 1 juta, kalau tak mungkin lesap 30k! Hehehe...
Huhuhu, pusing-pusing, ada je la kita terkena balik. Tapi aku rasa, loan aku tak terselesai dalam 6 tahun.. hihihi
ni utk tanah aje ke utk semua mat yie, sbb setahu aku ramai juga yg broker jenis beli rumah sekejap, naik harga sikit jual balik, rasanya jenis ni loan tak sampai 2 tahun pun, atau dia jenis tak buat loan, bayar deposit aje, any idea???
Azraf,
Sebenarnya mmglah kita most likely tak mampu nak settle rumah dlm 6 thn, tp kalau kau nak jual rumah dlm tempoh tu, kau akan obliged dgn clause ni (ni apa yg aku baca kat blogspot mana tah). Sbb bila kau jual, kau dikira buat full settlement, dan u'll be fined as per clause.
Cuma aku ada terbaca, kalau kita refinance pun kena jugak. Aku pun tak faham yg ni dan tak sure betul ke tak. Kenapa refinance? Biasanya sbb BLR naik gila2 atau kau nak bayar rendah by extending loan period.
Pesa,
Spt aku cakap, tak semua bank ada lock in period dan kalau ada pun ia varies. Pernah terbaca lock in period (kalau ada) biasanya 2-6 thn, depend pada bank & package.
Ini loan dgn AMBank utk apartment. Loan aku dgn Bank Rakyat takde lock in period.
Maksud aku, kalau sapa2 yg nak buat beli rumah, kalau boleh faham apa implication clause kat dlm tu.
Pasal broker kau cakap tu, mungkin dia pakai loan yg takde lock in period. Ada jugak buat camni... Dia bayar 10% d/payment dan dlm masa 6 bulan dia kena dapat loan. So, sebelum 6 bulan dia cari pembeli dan jual his marked up price. Buat duit atas angin...
Tang broker tu, aku tak berapa pasti, just terbaca/org bagitahu jer...
Okay guys, there are two ways out of this clause:
1. Kalau kau jual rumah less than the lock in period years, get your buyer to take from same bank. You can then nego with the bank to let you off the hook in exchange for this. But you better make sure that your property is in high demand area for this to work!
2. If you wish to refinance less than 6 years, get a bank who is willing to pay for the lock in period. I did that for my house. If your property is worth over 500k, chances are the refinancing bank will be more than happy to pay for the penalty.
Remember, loan rates and clauses are also negotiable, they are not always fixed.
Another clause to watch out for is whether your lock in period begins on FIRST drawdown or upon FULL drawdown. You have to be careful on this especially if buying from developer. Kalau beli from developer, and its upon FULL drawdown, that means you'll be locking in even longer, up to additional 2 years as full drawdown does not happen until after the 18mth warranty period expires.
Hope the above helps.
It is also possible to get a loan with no lock in period, but these type of loans would not have other 'freebies' like zero moving cost and those with the minus BLR. Usually kalau this type of loan dia akan plus BLR. But it may be worth it especially if you're buying to flip the properties i.e. immediate sell. But i suggest you do the calculations first to compare which method saves you more money, taking with lock in period and pay penalty, or pay higher loan amount for up to the period that you sell the property.
Insightful... Thanks bro!
Another thing about refinancing, you may not necessarily do refinancing with another bank, but do u know that you can also 'refinance' with your own bank. The good thing about open competition (dont you think competition is good for our country?) is that the banks are also afraid of losing their own customers. So if the rates have been going down, especially the minus gets bigger, you can write to your bank branch to request a revision of your rates. You may have to pay a small admin charge, but its worth it considering the amount you save. If you are a good paymaster, changes are they will probably give you that rate coz they know another bank would be knocking on your doors to get you in. So guys, it pays to be a good paymaster.
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