I took AMBANK. The normal housing loan. Flexi need to pay RM60 per annual. So i do not choose that, but who knows, i cannot pay the principle...Hidden trap here.
I choose -BLR for whole tenant.
I dont take he 1st year 0% due to the progress stage. If i choose this, i will be wasting 1/2 year of interest.
I took Ambank Flexi Home package whereby BLR-1.9% thorughout full tenure of 30 years.
There are not much different than the conventional loan, but it has its own flexibility in the excess cash from our hand:- 1. Every month salary (HUSBAND AND WIFE)transfer to this account. 2. Bonuses or allowance to transfer to this account. 3. Saving for all other means transfer to this account (may be FD also, since it is only 3.7%PA)
We will then use this Excessive Cash on Hand to offset the issued loan, so that the interest incurred will drop to minimum.
Dont forget, the Excessive Cash is still belong to ours. We can withdraw the amount as an when is needed via atm/cheque. Is just that the interested will then be calculated based on daily rest basis again only.
Housing Loan BLR (6.75%) - 1.9% that is 4.85%PA as compare to FA 3.7%PA, i think it is better to offset the housing loan.
Although i cant always offset the issues loan, but still i can pay the minimum interest to this property.
Ya, i do agree that we have to serve the additional RM60PA for this, but this is the flexibility we pay for.
This is only my personal view for your reference only. You may also refer to your finanial planner whether it works for you too.
The thing that i angry most is the banker never tell that i cannot settle principle during progressive.
Well, really have a bad experience with the banker. Nothing I can do now.
I think for your case, you cannot pay principle as well. Ya, I have more photo to share. Stay tune...I smuggle in the compound...took quite a number of photoes there :p
Hi Ree, how come the loan proposal never explain the potential flexibility in their package. It was quite known to the bankers from HSBC/CIMB/AmBank
Yez, you are right. I can't settle the principal too. But i am using the amount that suppose to settle the principal, to suppress the interest to ZERO at this moment.
Yet, I will maintain my flexibility in my cash flow management, just drawn back to use the cash for otherr means, whilst serve the interest for the delta only. (@BLR-1.9%)
I think you can reserve your cash at this moment to roll big with other investment or save for renovation 18 months later.
My australia fren did share with me how to maximise our wealth by using the limited cash on hand.
As you may know, cash may not have value as it is, compare to 5 years later. therefore, we should not settle whatever outstanding loan we have had today, but to use the cash to invest in others.. to convert the credibility to equity in the amount of money.
Invest? Not at this moment... Maybe after Olympic.
I manage to take out my $$$ to bank b4 this US slump at the moment. During the purchase, I dont have that cash in hand. That is the reason why i took 90% loan.
Invest... I miss out the FOREX exchange on RMB... Too bad... now is not the good time to enter. Any other tips from you?
April 15, i think our KLSE will drop as bad as US stock. Maybe that time is the time to bargan hunt the blue chips? No idea... No risk no gain...
15 comments:
Sign in...
So this foundation can be finish by within 2 months?
Miss chin said that show unit will be ready by June?
The foundation has done and collecting the first partial payment of 10% already on Jan.
Cepat cepat build...
My loan interest is killing me :p
We are not allow to pay principle during the progressive stage.
'Vista gambier' and 'Lancy' not from developer? How can you all can take the internal photo?
'Vista Gambier' age 24 only but already own a property here... Makes me envy :p
24 is very old already :(
Normally ppl graduate around this age.
24 most of the ppl just started to take car loan... but for your case. paid the car loan, housing 30k...wah... so envy...
Teach me how to earn $$$? Forex trading in RMB? Or others? Tell tell...
Hi Ree,
may i know which bank you chose? Or i should ask whether you are not taking those flexi home kind of package?
Those with the advantage that if we have certain cash, then we can use that to offset the principal from the daily rest loan.
For the picture; we just request it from LW, since we already discussed about posting the progress, must well we just publish to share with everyone.
I took AMBANK. The normal housing loan. Flexi need to pay RM60 per annual. So i do not choose that, but who knows, i cannot pay the principle...Hidden trap here.
I choose -BLR for whole tenant.
I dont take he 1st year 0% due to the progress stage. If i choose this, i will be wasting 1/2 year of interest.
OK,
I took Ambank Flexi Home package whereby BLR-1.9% thorughout full tenure of 30 years.
There are not much different than the conventional loan, but it has its own flexibility in the excess cash from our hand:-
1. Every month salary (HUSBAND AND WIFE)transfer to this account.
2. Bonuses or allowance to transfer to this account.
3. Saving for all other means transfer to this account (may be FD also, since it is only 3.7%PA)
We will then use this Excessive Cash on Hand to offset the issued loan, so that the interest incurred will drop to minimum.
Dont forget, the Excessive Cash is still belong to ours. We can withdraw the amount as an when is needed via atm/cheque. Is just that the interested will then be calculated based on daily rest basis again only.
Housing Loan BLR (6.75%) - 1.9% that is 4.85%PA as compare to FA 3.7%PA, i think it is better to offset the housing loan.
Although i cant always offset the issues loan, but still i can pay the minimum interest to this property.
Ya, i do agree that we have to serve the additional RM60PA for this, but this is the flexibility we pay for.
This is only my personal view for your reference only. You may also refer to your finanial planner whether it works for you too.
Hope this may help.
Well, i cannot switch package now...
The thing that i angry most is the banker never tell that i cannot settle principle during progressive.
Well, really have a bad experience with the banker. Nothing I can do now.
I think for your case, you cannot pay principle as well. Ya, I have more photo to share. Stay tune...I smuggle in the compound...took quite a number of photoes there :p
Hi Ree,
how come the loan proposal never explain the potential flexibility in their package.
It was quite known to the bankers from HSBC/CIMB/AmBank
Yez, you are right. I can't settle the principal too. But i am using the amount that suppose to settle the principal, to suppress the interest to ZERO at this moment.
Yet, I will maintain my flexibility in my cash flow management, just drawn back to use the cash for otherr means, whilst serve the interest for the delta only. (@BLR-1.9%)
I think you can reserve your cash at this moment to roll big with other investment or save for renovation 18 months later.
My australia fren did share with me how to maximise our wealth by using the limited cash on hand.
As you may know, cash may not have value as it is, compare to 5 years later. therefore, we should not settle whatever outstanding loan we have had today, but to use the cash to invest in others.. to convert the credibility to equity in the amount of money.
the book named"
Wealth for Life" may lead you to another paradigm to value your money today.
Of course those may not be adapt 100% here, but no harm use it for reference.
Hope this may help.
Invest? Not at this moment... Maybe after Olympic.
I manage to take out my $$$ to bank b4 this US slump at the moment. During the purchase, I dont have that cash in hand. That is the reason why i took 90% loan.
Invest... I miss out the FOREX exchange on RMB... Too bad... now is not the good time to enter. Any other tips from you?
April 15, i think our KLSE will drop as bad as US stock. Maybe that time is the time to bargan hunt the blue chips? No idea... No risk no gain...
Hi Jesse,
You are taking zero cost or non-zero cost loan?
Vista Gambier,
I'm taking Non-ZERO cost. i pay the legal fees and stamping duty for the Loan Agreement.
That cost me approx RM3500.
What about you? ZERO cost?
Photo uploaded... Today hand shaking while taking photo. Must be too many ppl around there :p
Post a Comment