Asked by Jimmy
I would like refinance my apartment. May i know what should i do?
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1 Answer
Hi Jimmy,
1. If you are thinking of getting more loan amount from your existing loan account because you have repaid some of the loan amount over the years, you may want to check with the existing banker whether you can draw down the amount that you have repaid as a loan again. That is provided your loan is part term loan and part overdraft.This way you save time and expenses to do new loan agreements such as lawyer's fees, stamp duty and disbursements.
2. If you are thinking of refinancing your property because the value of your property has gone up and you wanted more loan amount, then you should check with a new banker of your choice to find out the current property value and how much loan amount you can obtain. You need to know that you will have to pay new lawyer's fees, stamp duty and disbursements for loan agreement.
3. If you want to know which banks give the mosst competitive interest rates etc, you may seek the advise of a mortgage or loan broker at no charge to you.
Email me at davidwong@quantumrealestate.com.my should you need me to recommend a mortgage/loan broker.
David Wong
Principal
QUANTUM real estate
+60193330573
www.quantumrealestate.com.my
Thank you Read More
1. If you are thinking of getting more loan amount from your existing loan account because you have repaid some of the loan amount over the years, you may want to check with the existing banker whether you can draw down the amount that you have repaid as a loan again. That is provided your loan is part term loan and part overdraft.This way you save time and expenses to do new loan agreements such as lawyer's fees, stamp duty and disbursements.
2. If you are thinking of refinancing your property because the value of your property has gone up and you wanted more loan amount, then you should check with a new banker of your choice to find out the current property value and how much loan amount you can obtain. You need to know that you will have to pay new lawyer's fees, stamp duty and disbursements for loan agreement.
3. If you want to know which banks give the mosst competitive interest rates etc, you may seek the advise of a mortgage or loan broker at no charge to you.
Email me at davidwong@quantumrealestate.com.my should you need me to recommend a mortgage/loan broker.
David Wong
Principal
QUANTUM real estate
+60193330573
www.quantumrealestate.com.my
Thank you Read More