Banking & Finance (includes credit cards posting)

[FHBH12]

I think it is about there.

 

[Jogger]

I think it is about there.

FHBH12, thanks a lot!

 

[Jogger]

My AAA credit record, but standard&charted just reject to issue loan as they said it hit the quota already. no more loan to offer.

 

[Movingaway]

anyone has experience of being charged a fees for your home loan account?
passbook higher fees than no passbook

 

[Valdez]

Nowadays more SINGAPORE based Malaysian banks are offering loans for iskandar property purchases at interest rate much lower than Malaysian banks. This should help boost the valuations and sale of the new and secondary markets and sending prices up and up again as the difficulty of getting a loan from Malaysian banks used to be a major hindrance.

 

[Jogger]

Nowadays more SINGAPORE based Malaysian banks are offering loans for iskandar property purchases at interest rate much lower than Malaysian banks. This should help boost the valuations and sale of the new and secondary markets and sending prices up and up again as the difficulty of getting a loan from Malaysian banks used to be a major hindrance.

Hi Valdez, nice information. May I know which bank in signapore right now offer loan for iskandar property and the interest rate ? I am taking a loan from CIMB and is going to sign the offer these few days. If so , I may consider a signapore based one. Thanks !

 

[Valdez]

Hi Valdez, nice information. May I know which bank in signapore right now offer loan for iskandar property and the interest rate ? I am taking a loan from CIMB and is going to sign the offer these few days. If so , I may consider a signapore based one. Thanks !

Try may bank

 

[butadesu]

Maybank and CIMB have SGD loan for Malaysia properties.

One thing to note that, if you take loan in Singapore. Singapore government will know you have property overseas.
There are people who have properties in Malaysia but still buy HDB in Singapore because our government don't know you have property in Malaysia.
Once you take loan in Singapore, you can't run away.

Furthermore, if you take loan in Malaysia, in future you want to buy property in Singapore, the banks here may not know u have an outstanding loan in Malaysia and you can still have good loan margin. However if you take loan in Singapore, then the banks here will know.

This is my current understanding. Please let me know if my understanding is wrong.

 

[butadesu]

There is now a new POSB loan which is attractive to HDB owners with outstanding loan.

Previously if you use HDB loan to service your HDB flat, it is invisible to Malaysia banks evaluating your credit rating.
However, what if you take up private bank HDB loan to service your HDB flat. Will Malaysia bank deem you have outstanding loan and give you a lower loan margin?

Anyone can advice?

 

[Funds Transfer]

There is now a new POSB loan which is attractive to HDB owners with outstanding loan.

Previously if you use HDB loan to service your HDB flat, it is invisible to Malaysia banks evaluating your credit rating.
However, what if you take up private bank HDB loan to service your HDB flat. Will Malaysia bank deem you have outstanding loan and give you a lower loan margin?

Anyone can advice?

My understanding is that the Malaysian banks would usually turn a blind eye to your existing mortgage in Singapore knowing that most of us service it using our CPF. But you should have a good credit record so that it does not impact on your overall loan eligibility in Malaysia.

As a yardstick, try not to have loan repayments that is more than 40% of your take-home pay.

 

[Funds Transfer]

Nowadays more SINGAPORE based Malaysian banks are offering loans for iskandar property purchases at interest rate much lower than Malaysian banks. This should help boost the valuations and sale of the new and secondary markets and sending prices up and up again as the difficulty of getting a loan from Malaysian banks used to be a major hindrance.

I understand that UOB has been pretty aggressive in offering mortgages for Singaporeans with overseas property. Iskandar is included.

 

[Funds Transfer]

anyone has experience of being charged a fees for your home loan account?
passbook higher fees than no passbook

HSBC charges me a RM10 fee monthly for my mortgage.

 

[Jogger]

Try may bank

Thanks! I just contacted Maybank. It provides "2 years lock in, Sibor+2.5 for first 2 years, sibor+3 after 2years, no management fee '. How is it?
Compare to BLR-2.4%, is it easy for malaysia gov to adjust BLR higher?

 

[Jogger]

Year BLR (%) Remark



2011 6.60 Adjusted May 2011
2010 6.30 Adjusted July 2010
2010 6.05 Adjusted May 2010
2010 5.80 Adjusted March 2010
2009 5.55
2008 6.75 Adjusted March 2009
2007 6.75
2006 6.00
2005 6.00
2004 6.00
2003 6.50
2002 6.50
2001 6.75
2000 6.75
1999 8.00
1998 10.50
1997 9.25
1996 8.50
1995 6.60
1994 8.25
1993 9.50
1992 9.00
1991 7.50
1990 7.00
1989 7.00

 

[Jogger]

Maybank and CIMB have SGD loan for Malaysia properties.

One thing to note that, if you take loan in Singapore. Singapore government will know you have property overseas.
There are people who have properties in Malaysia but still buy HDB in Singapore because our government don't know you have property in Malaysia.
Once you take loan in Singapore, you can't run away.

Furthermore, if you take loan in Malaysia, in future you want to buy property in Singapore, the banks here may not know u have an outstanding loan in Malaysia and you can still have good loan margin. However if you take loan in Singapore, then the banks here will know.

This is my current understanding. Please let me know if my understanding is wrong.

Goverment may have some tie up with oversea countries. As long as it want to check it out, it could get it, also cann't run away....

 

[AADC6970]

There is now a new POSB loan which is attractive to HDB owners with outstanding loan.

Previously if you use HDB loan to service your HDB flat, it is invisible to Malaysia banks evaluating your credit rating.
However, what if you take up private bank HDB loan to service your HDB flat. Will Malaysia bank deem you have outstanding loan and give you a lower loan margin?

Anyone can advice?

hi, from what i heard from my buddy, yes the Msia bank also counted his private loan for his HDB as one loan, thus reducing his loan margin for his Msia property...they disregarded the fact that it is well within his affordability.

 

[AADC6970]

Thanks! I just contacted Maybank. It provides "2 years lock in, Sibor+2.5 for first 2 years, sibor+3 after 2years, no management fee '. How is it?
Compare to BLR-2.4%, is it easy for malaysia gov to adjust BLR higher?

hi jogger thx for info. how about the exchange rate? do they determine your SGD loan amount at start of loan? or it gets adjusted on a regular basis?

 

[Jogger]

hi jogger thx for info. how about the exchange rate? do they determine your SGD loan amount at start of loan? or it gets adjusted on a regular basis?

I forgot ask:p By the way, the bank should deduct some money for regular TT service and the exchange rate should be not good as money changer. I once TT a big sum to malaysia to pay for my land balance through posb, which cost me a lot on bad exchange rate difference . I didn't know that until much later:*:

 

[molecule]

Malaysia loan rates has never been so low before. can jump up to 5% or 6% easily once FED raise their rates. This can means a couple thousands RM more in monthly mortagage instalments. While in Singapore, many can still tahan cos many got CPF to help to repay. Malaysia loans cant use CPF and may have to be covered by own pocket or rental. Something to consider as interest rates wont be so low forever. Hong Kong has just adjusted their rates up and Singapore will follow soon

 

[kawan2sgmy]

I think when you do a TT at the S'pore bank, the buying/selling rate on Sing to Ringgit/vice versa can only be known on the day it reaches the HQ bank in KL.

Banks do have quite a number of misc charges/fees. Recently I was charged RM25 for uncollected cheque book. DESTROYED CHQ BK CHG D 25.00. The bank was supposed to deliver the cheque book to my Spore address, but somehow it didn't arrive. We were not even notified that the courier guy had been to our house. There was also no phone call whatsoever.
End up we had to request for new one.

I forgot ask:p By the way, the bank should deduct some money for regular TT service and the exchange rate should be not good as money changer. I once TT a big sum to malaysia to pay for my land balance through posb, which cost me a lot on bad exchange rate difference . I didn't know that until much later:*: