I was sitting here and thinking what is the best stuff to share with y’all.
Since, I’m a girl and I really like fashion and trend. And can’t help to notice there are lots of fashion shows cases everywhere.
All these talented designers put all their hard work and creative design to the world to see.
Big cities like Milan, Paris and New York always have so many talented designers and their creation to wow all the rich and famous.
So, you must be wondering, what is the connection between fashion and housing loan?
Yes, there is.
Every year there are many new trend surfaces in the Fashion industry.
Fashion is about what hot and new in the market.
Housing Loan do have trend too. So, I’m going to share what HOT and NEW in the housing loan too.
The first One…
REFINANCING is a trend EVERYONE.
Indeed is true. Why I said so?
Because, more people need it to help re-organised their financial issue.
I look it into 2 groups of people who doing refinancing.
The 1st group of people is looking for better interest rates and additional cash to invest elsewhere.
Of course the investment return that they look for must be presumably high than current housing loan rates.
If housing loan rates in the range of 4.2 to 4.40% per annum. Some people will opt for at least investment rates of 8% and above.
The simple example of good investment is Amanah Saham Berhad (ASB). ASB does give a good return. Do you agree?
The 1st group of people will look for lower housing loan interest rate, save more money and growth their money.
Next, the 2nd group of people is the people who get extra cash to settle their debts or to spend more on other things like house renovation, education, medical…
I think sometimes, people get stuck…to be honest most people have to go through the stuck process.
Stuck here mean a situation where someone cannot paid their monthly bill, the monthly income is not sufficient.
When month end come, they will use all their money to settle household expenses.
And sometimes even worst, it is not sufficient and in negative balances.
So what they do?
They do not pay right?
They will wait next month to pay the last 2 months commitment.
When this scenario keeps on, they will not be able to keep track and one day will end up stuck and the creditors keep on calling for money.
I have a friend few years back and he was in this scenario.
Luckily he got a house and he refinances the house, get some cash.
Consolidate all the debts and of course the most important learn from mistakes. After that, he does not live in stress and fear no more.
However, learn the mistakes part is important because you should not make the same mistakes twice.
The most important is LEARN to NEVER spend if you CANNOT afford it.
Think deeply before make decision for refinancing.
Perhaps, you have to ask yourself,
Will REFINANCING help your life now?
Will you get BENEFIT from it?
Will you be able to have BETTER life AND STRESS FREE life?
While, only you will know…
Another good news, I would like to share is most banks are offering low Interbank Giro fee now.
Interbank Giro can save a lot of time. I just loved it so much.
I do not like to carry a lot of cash so I love this service.
Even though when Giro fee is RM2, I’m using it a lot.
When Bank Negara reduce the fee, I totally went YAHOO !
When you go to bank for payment, you have to get dress, drive your car, look and look for parking, pay parking fees, walk to the bank, take number, fill up payment form, queue in the bank, waiting… waiting… waiting…, finally after 15-20mins and is your return, the system down…
Have you experience this?
If you had went through this experience too, come on change your banking style now!
Join any banks online services and you will never regret!
Previously, for one transaction Giro fee is RM2.00.
But, now is only RM0.10 per transaction. Yes, RM0.10.
Is this fantastic good or what?
Cheap and hassle free. Love it!
Another trend is SOHO. Do you know what is SOHO?
SOHO stand for Small Office Home Office.
Many developers are selling SOHO and the demand quite encouraging.
Normally, SOHO will be sold with partly furnish or fully furnish. Once property completed the property is furnish and you will not be headaches on the renovation, design and furniture.
Once get key, you can immediately stay in, rent out or even sell off. Good right?
Some SOHO have a duplex features. Where the lower floor will be the working and living space and above floor will be the sleeping area.
Nowadays, more and more people work from home. And I think developer sees that and believe the coming generation and the current generation will love such design.
They do understand property had become more expensive, by offering this type of property, the young generation will be able to afford it.
So, what you think?
However, the tricky part about SOHO is when some valuers may not accept the upper floor built up. And you will get lower property value indication.
Do you know for SOHO, some banks are offering 80-85% margin only? This is due to commercial title.
However, there are still exceptional bank who offer margin 90%.
Before we go, If you guys need help with refinancing or even for applying a house loan, please Contact us here.