That is a difference of RM1,179.75 per month! Is there any way around it? ![]() Maximum loan tenure follows those of housing loans, which is 35 years.Īssuming the house is worth RM400,000, outstanding housing loan balance is RM150,000, interest rate is at 4.6% and Margin of Finance is at 90% of market value.Įxample refinancing calculation under the old rules:Īmount to cover outstanding balance = RM150,000 This includes investing in other properties, and is a common practice among serial property investors. The cash out amount can be used for any purpose. ![]() Effect of the guidelinesīefore this, you could refinance your house up to 90% of its market value. ![]() This guideline is part of Bank Negara’s efforts to reduce unnecessary household debt, and also cools any speculative activity in the property sector that is fuelled by lax home loan refinancing.
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