MBSB home loan - worth it?

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MBSB home loan - worth it?

Postby wheimeng » Thu Dec 15, 2011 11:58 am

why haven't anyone discussed about mbsb home loan? they've no 3rd property LTV70% rules and up to 95% financing.

is there a catch other than higher interest rate?

so my thinking here is:

If the quota hasn't been used up:
1. With 95% of financing, a person can retain 5% DP (compared to conventional bank 90%).
2. If developer has DIBS scheme, then we don't have to bother the higher interest for up to the next 3 yrs.
3. The remaining 2 yrs of interest (lock in 5 yrs) can most probably be covered if we can make an investment with the retained DP with about 30% ROI for the next 5 yrs.

If the quota has been used, then obviously the ROI that we need to make over the 25% saved is much lower.

All looks good with the rationale yea?
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Re: MBSB home loan - worth it?

Postby luk7 » Thu Dec 15, 2011 12:15 pm

wheimeng wrote:why haven't anyone discussed about mbsb home loan? they've no 3rd property LTV70% rules and up to 95% financing.

is there a catch other than higher interest rate?

so my thinking here is:

If the quota hasn't been used up:
1. With 95% of financing, a person can retain 5% DP (compared to conventional bank 90%).
2. If developer has DIBS scheme, then we don't have to bother the higher interest for up to the next 3 yrs.
3. The remaining 2 yrs of interest (lock in 5 yrs) can most probably be covered if we can make an investment with the retained DP with about 30% ROI for the next 5 yrs.

If the quota has been used, then obviously the ROI that we need to make over the 25% saved is much lower.

All looks good with the rationale yea?


catch is:

1. no prepayment
2. higher penalty fees
3. slower processing
4. not all dev has mbsb on their panel
5. where can u find a sure 5 yr 30% ROI so easily? If yes pls PM me i want. :mrgreen:
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Re: MBSB home loan - worth it?

Postby wheimeng » Thu Dec 15, 2011 1:08 pm

ecm libra was selling a closed-end fund, expect 24% in 3 years. of course, that's not a guaranteed thing. but that's something you can look at.
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Re: MBSB home loan - worth it?

Postby luk7 » Thu Dec 15, 2011 1:29 pm

like tat i rather go punt on second liner. and make that 20m like the tktttt here liao... :thumbup:
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Re: MBSB home loan - worth it?

Postby resident x » Fri Dec 16, 2011 1:48 pm

mbsb processing very slow......
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Re: MBSB home loan - worth it?

Postby wheimeng » Fri Dec 16, 2011 1:57 pm

but why is the processing slow a problem?
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Re: MBSB home loan - worth it?

Postby Pai » Sun Dec 18, 2011 7:51 pm

kekeke I'll let u all know in the next few days how MBSB fare VS commercial banks :alucard:
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Re: MBSB home loan - worth it?

Postby Cloner » Mon Dec 19, 2011 10:39 pm

sad news I heard today, mbsb started follow ltv 70% edi....

-----------------------

I went up to mbsb branch at bdr puteri today n clarify they still giving 95%
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Re: MBSB home loan - worth it?

Postby lonelyplanet » Sun Jan 15, 2012 12:40 am

Cloner wrote:sad news I heard today, mbsb started follow ltv 70% edi....

-----------------------

I went up to mbsb branch at bdr puteri today n clarify they still giving 95%


yes, still give BLR-1%, MRTA could be replaced by PA assigned to MBSB
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Re: MBSB home loan - worth it?

Postby Phoenix_142 » Sun Jan 15, 2012 4:26 pm

MBSB has "voluntarily" let itself be under the perview of BNM....

But no details of the timeline of full compliance yet...

interesting to see how this plays out.
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