MBSB Mortgage Update

Residential floating rate 

< 150k: ECOF + 0%

150k ~ 299k: ECOF - 0.8%

300k ~ 499k: ECOF -0.9%

>500k: ECOF -1%

Commercial floating rate 

< 150k: ECOF + 1%

150k ~ 299k: ECOF + 0%

300k ~ 499k: ECOF - 0.5%

>500k: ECOF -1%

Other Terms:

1. Exit Penalty: Lock in 5 years 1st drawdown, 3.5% of outstanding balance / RM 6000 whichever is higher

2. MOF: 

Max 95% + 15% (legal fee, stamp duty, MRTA financing, Will writing) for residential. 

Max 85% + 10% legal fee, stamp duty, MRTA financing, Will writing) for commercial.

3. Tenure: 

Age 65 / 30 yrs, whichever is earlier for residential.

Age 60 / 20 yrs, whichever is earlier for commercial.

4. ZEC available subjected to certain loan amount

5. Prepayment withdrawal fee: N/A

6. Mortgage Insurance: MRTA/MLTA/Life policy are compulsory to be taken up

7. Valuation of properties: compulsory for all completed properties. Fee to be borne by MBSB, subjected to certain loan size

8. Event of default: -

9. Others: compulsory to acquire will writing services, mortgage insurance / life insurance / PA to insure against the mortgage

Charges:

1. Processing fee of 0.15% based on loan amount will be charged on commercial properties only

Last update on 12 Sep 2011

Public Bank Mortgage Update

Residential floating rate (Term & Full Flexi)
< 100k: B - 1.6%
100k ~ 299k: B - 2.2%
> 300k: B - 2.3%

Residential floating rate (Term & Full Flexi - For under-construction properties)
1st year: BLR - 2.5%
2nd & 3rd year: BLR -2.45%
Thereafter: BLR - 2.4%

Other Terms:

1. Exit Penalty: Lock in 3 years 1st drawdown, 2% of total facility amount

2. MOF: max 90% + 10% (legal fee, stamp duty, MRTA financing, Overdraft facility) Max 70% for foreigners or locals who derived income from oversea (salary denoted in foreign currency except for Singapore dollar & Brunei Dollar)

3. Tenure: Age 65 / 30 yrs, whichever is earlier, professional / graduates - Age 70/ 40 years, whichever is earlier

4. Non-ZEC

5. Prepayment withdrawal fee: RM 50 / withdrawal (for conventional term loan), withdrawal amount must be multiple of RM 1000, min RM5000 (limited to 1 request per calendar month)

6. Mortgage Insurance: MRTA/MLTA/Life policy are compulsory to be taken up, sum assured must be equivalent to loan amount, min 5 years

7. Credit cards with annual fee waiver will come with the mortgage offer (during the loan tenure)

8. Event of default: adjustment of interest rate to BLR + 0% or 1% above prevailing interest rate on outstanding amount, whichever is higher (grace period 1 month) + 1% p.a. on overdue amount

Charges:

1. Full Flexi Loan Charges: RM 200 set up fee , RM 10 monthly maintenance charges

2. Administrative cost for reinstatement of housing loans: RM 50 for each reinstatement account approved

3. Statement issued to housing loan customers for EPF withdrawal：RM 20

4. Request to redeem title: RM 50 / title / lot

5. Request for redemption statement for the purpose of partial/ full settlement of credit facility: RM 50 per request

6. Specific request for change in credit terms & reduction of pricing : RM 50 per approved request

Last update on 12 Sep 2011

AIA Fixed Rate Mortgage Update

Minimal Loan RM 100k

AIA Mortgage Save / Invest
Fixed entire loan tenure: 4.85% (Non-Zero Moving Cost)
Fixed entire loan tenure: 5.25% (Zero Moving Cost)

AIA Home Loan

Fixed entire loan tenure: 5.15% (Non-Zero Moving Cost)

Fixed entire loan tenure: 5.45% (Zero Moving Cost)

Note:

1. Loan Tenure up to 30 years or age 65

2. Prepayment fee: Fee of 0.35% chargeable on the prepaid amount
3. Lock in period: 3~5 years from first drawdown, 2% ~ 4 % on the amount prepaid if the loan is refinanced (does not include disposal)
**for ZMC, all fee, cost & expenses incurred by AIA in connection with shall be borne by applicant on an indemnity basis if the loan is refinanced within the lock in period.


Last update on 17 March 2011

CIMB Bank Mortgage Update

Promotional Rate

<200k: BLR/BFR - 1.7%

200k-350k: BLR/BFR - 2.0%

350k-500k: BLR/BFR - 2.2%

>500k: BLR/BFR - 2.4%

Notes:

1. Rate same with or without MRTA

2. No Lock in Period (only for >500k)

Residential floating rate (Term & Full Flexi)

150k - 300k: Subject to approval, interest price ranged from B - 1.8% ~ B - 2.2%

>300k: B - 2.2% / B - 2.3%


Commercial floating rate
<500k : BLR - 1.5%
>500k: BLR - 1.9%
>1Mil: BLR - 2.0%

Notes:

1. Exit Penalty: Lock in period 3 years, 1st drawdown, 2% on the total approved facility amount

2. MOF: 90+5% for residential

3. Tenure: 40 years / Age 70

4. Non-ZEC

5. Prepayment withdrawal fee: 

6. Event of default: adjustment of rate to BLR + 1%  p.a. (90 days grace period), additional interest on late payment will be charged at the rate of 1% p.a. above the aforesaid interest rate / min RM 5

Charges:

1. For Full Flexi packages, set up fee of RM 200 will be debited to the account upon the 1st disbursement, monthly service charges of RM 10 will be debited

Last update on 1 Oct 2011

Hong Leong Bank Mortgage Update

Promotional Rate (Islamic product)
>250k : IFR - 2.4%
** Stamp duty waived


Residential
< 300k: BLR - 2.15% (with MRTA BLR -2.25%)
> RM 300k: BLR -2.25% (with MRTA BLR - 2.35%)

Other terms:
3. Minimum prepayment withdrawal RM 5000, must in the multiple of RM 1000, RM 50 per withdrawal charges (for non-full flexi); Setup fee of RM 200 (not refundable and must be paid in cash) and monthly charges of RM 10 will be imposed for full flexi package
4. Unable to finance wooden dwelling & non-landed properties with master title aged more than 10 years. Unable to finance vacant commercial land and agricultural land except for bungalow land.
5. Margin of financing: 90 + 5%
6. Tenure: Age 70 / 40 years whichever is earlier
7. Lock in period & penalty: 3 years / 5 years, from 1st drawdown, penalty 3% of total facility amount
8. MRTA taken up must insure at least 30% of loan amount, min 5 years


Commercial

1st year: Fixed 3.99%

RM 100k ~ 200k: BLR - 1.7% (with MRTA BLR -1.8%)

RM 200k ~ 300k: BLR - 1.8% (with MRTA BLR -1.9%)

> RM 300k: BLR -1.9% (with MRTA BLR - 2.0%)

Other terms:

. Semi Flexi / Full Flexi / Islamic are available features for the packages

. Minimum prepayment withdrawal is RM 5000, must in the multiple of RM 1000, RM 50 per withdrawal charges (for non-full flexi); Setup fee of RM 200 and monthly charges of RM 10 will be imposed for full flexi package

. Unable to finance retail lot, agricultural land, commercial land, master title non-landed properties which aged more than 10 years

. Margin of financing: 80 + 5%

. Tenure: Age 65 / 20 years whichever is earlier

. Lock in period & penalty: 3 years / 5 years, from 1st drawdown, penalty 3% of total facility amount

. MRTA taken up must insure at least 30% of loan amount, min 5 years


Important notes:
. Applicant should be aware that the provision of previous SPA copy / Title copy (master title is not acceptable, the documents must be able to show the current owners' identity). Short of this documentation might cause serious delay in approval.
. Provision of photos of the properties are preferred for sub-sales especially for commercial unit, factories. (1 for exterior of the whole unit, 1 to show clear address number, 4~5 for interior major renovation)
. Rule of thumb for approval: (in term of monthly basis)
New loan installment / Gross income < 33%
Total loan commitment with HLB / Gross income < 45%
Total commitment / Gross income < 75%




Turnaround time for approval: 
6~7 working days (from the submission of full documentation, standard application)
7~9 working days (from the submission of full documentation, appeal for special terms / rate)


Last update on 03 Dec 2011

Maybank Mortgage Update

Residential - Conventional / Islamic Term Loan (floating) - MaxiHome / MaxiHome - i

150k - 250k: BLR - 2.1%

250k - 500k: BLR - 2.2%

        > 500k: BLR - 2.3%
        > 3 Million: BLR - 2.5%

*MRTA compulsory.

Residential - Conventional / Islamic Term Loan (fixed) - MaxiHome / MaxiHome - i
150k - 250k
3 years: 1st 3 years: Fixed 4.8%, T/A: B - 2.1% (with MRTA) / B - 2.0% (without MRTA)
5 years: 1st 5 years: Fixed 5.3%, T/A: B - 2.1% (with MRTA) / B - 2.0% (without MRTA)

> 250k

3 years: 1st 3 years: Fixed 4.8%, T/A: B - 2.2% (with MRTA) / B - 2.1% (without MRTA)

5 years: 1st 5 years: Fixed 5.3%, T/A: B - 2.2% (with MRTA) / B - 2.1% (without MRTA)

Residential - Flexi OD - MaxiHome / MaxiHome - i

1. Facility limit with monthly reduction throughout tenure - BLR -2.1%

2. Facility limit with monthly reduction for the 1st 5 years - BLR -2.1%

3. No reduction of facility limit - BLR -2% / BLR -1.9%

Other Terms: (not applicable to Flexi OD package)

1. Exit Penalty: 3 years 1st drawdown / 97.5% release, 2% of total facility limit

2. MOF: 90% + 5% (legal fee, stamp duty, MRTA financing)

3. Tenure: Age 60 / 30 yrs, whichever is earlier, professional / graduates - Age 70/ 40 years, whichever is earlier

4. Non-ZEC

5. Prepayment withdrawal fee: RM 25 / withdrawal, multiple of RM1000
6. All rate can be appealed to better position depending on customers' profile

Commercial - Conventional / Islamic Term Loan (floating) - MaxiShop /MaxiShop - i

B - 1.9% (with MRTA)

B - 1.85% (without MRTA)

Commercial - Conventional / Islamic Term Loan (fixed) - MaxiShop /MaxiShop - i

3 years:

1st 3 years: Fixed 4.9%, T/A: 

B - 1.9% (with MRTA) / 

B - 1.85% (without MRTA)

5 years:1st 5 years: Fixed 5.5%, T/A: 

B - 1.9% (with MRTA) / 

B - 1.85% (without MRTA)

Other Terms:

1. Exit Penalty: 3 years 1st drawdown / 97.5% release, 2% of total facility limit

2. MOF: 80% + 5% (legal fee, stamp duty, MRTA financing)

3. Tenure: Age 65 / 20 yrs, whichever is earlier

4. Non-ZEC

5. Prepayment withdrawal fee: RM 25 / withdrawal, multiple of RM1000

6. Does not include commercial mortgages under company entity


Important notes:
1. Balloon payment option is available for MBB package, for discussion of balloon payment, you can visit here.
Proportion of loan which can be allocated for balloon payment is:
50% for property valued > RM 500k
40% for property valued RM 400k ~ RM 499k
30% for property valued RM 300k ~ RM 399k
20% for property valued RM 200k ~ RM 299k
10% for property valued RM 100k ~ RM 199k
0% for property valued < RM 100k
2. Interest only loan for first 5 years is available.
3. Interest capitalization for under-con property is available.
4. Holiday payment feature is available. Client may opt not to pay installment for a 1 month period (max 3 times throughout the whole tenure)
5. Provision of title details is essential for loan application (sub-sales, refinancing, top up)

Last Update on 03 Dec 2011

RHB Mortgage Update

Residential


RM180k ~ 350k : BLR -2.2% (with MRTA BLR - 2.3%)
RM350k ~ 750k : BLR -2.3% (with MRTA BLR - 2.4%)
>RM750k : BLR -2.4%  (with MRTA BLR - 2.5%)

Other Terms:
1. Completed, under-con, sub-sales, refinancing (with/without top up)
2. MOF: 90 + 5% up to 3mil, 85+5% up to 5 mil, 80% for >5 mil
3. Min Loan RM100k
4. Lock in period (1st disbursement): 3 yrs, 3% penalty on total facility amount / minimum RM 5000, whichever is higher, **No lock in available, T&C applies
5. Can approve up to BLR -2.3% subject to bank's discretion
6. Loan tenure up to 65 yrs old/ 38 years, whichever earlier
7. Charges of RM 50 per redrawal, minimum redrawal is RM 1000
8. Prepayment fee will not be charged if in multiples of RM 1000
9. Event of default: Adjustment of interest rate to BLR + 2.5% (90 days grace period) + 1% p.a. on the amount in arrears



Commercial
<RM250k : BLR -1.5%  -  BLR - 2.0%
  RM250k - RM749k : BLR -2.15%

  >RM750k : BLR - 2.3%


Other Terms:
1. Completed, under-con, sub-sales, refinancing (with/without top up)
2. MOF: 80 + 5% 
3. Min Loan RM100k
4. Lock in period (1st disbursement): 3 yrs, 3% penalty on total facility amount / minimum RM 5000, whichever is higher 
5. Loan tenure up to 65 yrs old/ 25 years, whichever earlier
6. Charges of RM 50 per redrawal, minimum redrawal is RM 1000

7. Prepayment fee will not be charged if in multiples of RM 1000

Last update on 9 Nov 2011

Standard Chartered Bank Mortgage Update

MortgageOne or Mortgage One Low Start
50k ~150k : 1st yr - BLR - 1.7%, Thereafter: BLR - 1.6%
150k ~ 500k : 1st yr -  BLR - 2.3%, Thereafter: BLR - 2.2%
> 500k : 1st yrs: BLR - 2.35%, Thereafter: BLR - 2.25%
Standard Term Loan
50k ~150k : 1st yr - BLR - 1.7%, Thereafter: BLR - 1.6%
150k ~ 500k : 1st yr -  BLR - 2.3%, Thereafter: BLR - 2.2%
> 500k : 1st yrs: BLR - 2.35%, Thereafter: BLR - 2.25%
MortgageKLIBOR

50k ~150k : 1st yr - K + 1.62%, Thereafter: K + 1.72%

150k ~ 500k : 1st yr -  K + 1,02%, Thereafter: K + 1.12%
> 500k : 1st yrs: K + 0.97%, Thereafter: K + 1.07%

Saadiq JustHome - i

50k ~150k : 1st yrs - Fixed 4.6%, Thereafter: BFR - 1.6% or max 9.99%
150k ~ 500k : 1st yrs -  Fixed 4.0%, Thereafter: BFR - 2.2% or max 9.99%

> 500k : 1st yrs: 1st yrs - Fixed 3.95%, Thereafter: BFR - 2.25% or max 9.99%

Note:
1. Rate specified above is subjected to the taking up of Credit Card or MRTA. 
2. Better rate will only be granted to prime area, non-prime areas which defined by SCB will not be granted the loan / erosion of rate / margin slash.
3. Utilization fee will be imposed for full flexi products if the un-utilized portion of loan > 70% due to massive deposit into current account.
4. Exit Penalty: 3 yrs lock-in (1st drawdown / full drawdown), 3% on the total facility amount 


Last Update on 14 March 2011