It’s been a long time since the last Article, while I think now everyone is in the mood of election season.
We know our Election 2013 is around the corner… So, who you’re going to vote ?
Let it’s be secret right? :)
So, I have plenty people asking if it is wise to apply for a housing loan or refinancing loan? Or even look for property to buy now?
While, there is no correct answer for that…
But, we do optimistic about the property market in Malaysia.
Even though for the 1st quarter the transaction for property market had slow down, but I think because people are in the edge of election.
Everybody is so excited to vote, Malaysia has so many 1st time voters and we know you are excited too :)
Come back to the story, we realised so many people are refinancing their property now.
For you that have a housing loan for more than 3 years with the same bank, why not let us review your refinancing option?
You can benefit in so many ways. You can get additional cash. From this cash you can do so much more, may be you can use the cash to renovate your house or to pay up your debts.
Since, Hari Raya will be coming soon, you may want to have a renovated and comfortable house to invite your friends and families for gathering.
We love festival season so much, because that is when we come together as a family, out from our busy life. Just sitting down together, shares our laughter and stories. It is so warmth and lively.
For Bumiputra do not forget your privilege. You can use this cash to invest in your Amanah Saham Berhad( ASB), which you can earn higher interest rates ( 8% -10% p.a).
Bear in mind, the housing loan interest rates is estimated 4.20% – 4.40% p.a. This is cheaper than ASB loan offered by bank.
If some of you have some debts to settle. This will be a great way to consolidate all your debt to one housing loan account.
For example, if u have 2-3 credit card outstanding balances, total accumulate may be RM50,000. Monthly you have to pay minimum payment RM50,000 x 5% = RM2500. At least RM2500 per month!! Wow that’s a lot.
However, if you get a refinancing cash out, this RM50,000 only about RM400-500 per month. Depending on your repayment period of course!
But, at least you can breathe guys!! You can re-organise your financial.
I know the instalment lower because the loan spread longer for housing loan. But, you don’t forget, for housing loan, you can pay more if you can afford to.
So, this will loosen your financial and you can at least move comfortably instead of pilling up your entire credit card limit or paying your credit card every 2 months once.
This will definitely hurt your credit conduct badly. Believe me, refinance before too late.
If you out there, have a high housing loan interest rates or you have been with the same bank for more than 3 years without changing any interest rates.
Please, we beg you out there to come and talk to us, we will show you how you can save more.
We promise we won’t bites :) Just joking.
Jokes aside, we promise to give you the best advice ever.
