Auction / Lelong Property And Real Estate In Perak

No. 27, Jalan Kinding Permai 2, Taman Kinding Permai, 31250 Tanjung Rambutan, Perak

1 Storey Terrace House

RM 140,000.00

Property Code : PB623802

Auction Date : 13-Jul-2020 (Mon)

Land Area : 1,496 sq.ft

Tenure         : Leasehold

Lot 318613, Persiaran Rishah Selatan 1/9, Taman Buntong Ria, 30100 Ipoh, Perak

2 Storey Bungalow House

RM 290,000.00

Property Code : PB623803

Auction Date : 15-Jul-2020 (Wed)

Land Area : 3,595 sq.ft

Tenure         : Leasehold

No. 31, Lapangan Perdana 8, Panaroma Lapangan Perdana, 31650 Ipoh, Perak

3 Storey Terrace House

RM 480,000.00

Property Code : PB623800

Auction Date : 13-Jul-2020 (Mon)

Land Area : 1,615 sq.ft

Tenure         : Freehold

No. 59, Taman Manjung Point, Seksyen 2, 32040 Seri Manjung, Perak

Terrace House

RM 211,500.00

Property Code : PB623797

Auction Date : 13-Jul-2020 (Mon)

Land Area : 1,195 sq.ft

Tenure         : Freehold

No. 19, Laluan Tronoh Jaya 8, Desa Tronoh Jaya, 31750 Tronoh, Perak

1 Storey Detached House

RM 121,500.00

Property Code                 : PB623729

Auction Date                 : 21-Jul-2020 (Tue)

Built up / Land Area     : 1,224 sq.ft / 4,004 sq.ft

Tenure                         : Leasehold

No. 2F, Persiaran Murni 8, Taman Indah Tanjung Rambutan, 31250 Ipoh, Perak

1 Storey Terrace House

RM 150,000.00

Property Code : PB623697

Auction Date : 20-Jul-2020 (Mon)

Land Area : 2,616 sq.ft

Tenure         : Leasehold

No. 4, Persiaran Bemban Raya 20, Taman Bemban Raya, 31000 Batu Gajah, Perak

1 Storey Terrace House

RM 140,000.00

Property Code : PB623632

Auction Date : 27-Aug-2020 (Thu)

Land Area : 1,615 sq.ft

Tenure         : Leasehold

No. 3, Jalan Lahat Indah 6, Taman Lahat Indah, 31500 Ipoh, Perak

1 Storey Terrace House

RM 126,000.00

Property Code : PB623631

Auction Date : 01-Sep-2020 (Tue)

Land Area : 1,399 sq.ft

Tenure             : Leasehold

No. 773, Laluan Kledang 3/2, Taman Kledang, 31100 Sungai Siput (U), Perak

1 Storey Terrace House

RM 120,000.00

Property Code : PB623630

Auction Date : 19-Aug-2020 (Wed)

Land Area : 1,399 sq.ft

Tenure         : Leasehold

Unit No. 53A-1, Blok 53A, Aras 1, Persiaran Residensi, Bandar Agacia, 31910 Kampar, Perak

Town Villa

RM 290,000.00

Property Code : PB623609

Auction Date : 09-Jul-2020 (Thu)

Built up         : 1,099 sq.ft

Tenure         : Leasehold

Auction / Lelong Property And Real Estate In Penang

Unit No. 1-4-32, Lebuh Bukit Kecil 6, Taman Sri Nibong, 11900 Bayan Lepas, Penang

Commercial Unit

RM 370,000.00

Property Code : PB623772

Auction Date : 17-Aug-2020 (Mon)

Built up         : 1,030 sq.ft

Tenure         : Leasehold

Unit No. 1-5-25, Lebuh Bukit Kecil 6, Taman Sri Nibong, 11900 Bayan Lepas, Penang

Commercial Unit

RM 320,000.00

Property Code : PB623771

Auction Date : 17-Aug-2020 (Mon)

Built up     : 1,030 sq.ft

Tenure         : Leasehold

Unit No. 83D-3-5, The Maven, Jalan Sungai Pinang, 11000 Balik Pulau, Penang

Town House

RM 550,000.00

Property Code : PB623700

Auction Date : 06-Jul-2020 (Mon)

Built up         : 1,166 sq.ft

No. 19, Lorong Seri Tanjung 3, Taman Seri Tanjung, 13400 Butterworth, Penang

2 Storey Terrace House

RM 665,000.00

Property Code : PB623628

Auction Date : 08-Jul-2020 (Wed)

Land Area : 1,894 sq.ft

Tenure         : Freehold

Unit No. 88C-8-16, Taman Sri Relau, Jalan Relau, 11900 Bayan Lepas, Penang

Flat

RM 180,000.00

Property Code : PB623627

Auction Date : 08-Jul-2020 (Wed)

Built up         : 689 sq.ft

Tenure         : Freehold

No. 22, Lorong Tambun Emas 4, Taman Tambun Emas, 14100 Simpang Ampat, Penang

3 Storey Terrace House

RM 364,500.00

Property Code                 : PB623483

Auction Date             : 04-Jul-2020 (Sat)

Built up / Land Area     : 2,579 sq.ft / 1,367 sq.ft

Tenure                         : Freehold

Unit No. 18-6-9, Taman Terubong Jaya Apartment, Tingkat Paya Terubong 2, 11060, Penang

Apartment

RM 207,000.00

Property Code : PB623482

Auction Date : 04-Jul-2020 (Sat)

Built up         : 860 sq.ft

Tenure         : Leasehold

Premises No. 9A-16-01, Taman Sri Idaman, Lorong Semarak Api 3, 11500 Bandar Baru Air Itam, Penang

Flat

RM 100,800.00

Property Code : PB623481

Auction Date : 04-Jul-2020 (Sat)

Built up         : 490 sq.ft

Tenure         : Freehold

Unit No. 3 (S-07-08), Setia Tri-Angle, Persiaran Kelicap, 11900 Bayan Lepas, Penang

Office

RM 420,000.00

Property Code : PB623354

Auction Date : 04-Jul-2020 (Sat)

Built up         : 741 sq.ft

Tenure         : Freehold

Unit No. 2-02, Taman Tanjung Indah, Lorong Tanjung Indah 2, 12300 Butterworth, Penang

Flat

RM 140,000.00

Property Code : PB623351

Auction Date : 04-Jul-2020 (Sat)

Built up         : 646 sq.ft

Tenure         : Freehold

*Please contact me for the latest update or availability. Thank you.

Auction / Lelong Property And Real Estate In Perlis And Kedah

No. 72, Lorong Teja 6/2, Bandar Perdana, 08000 Sungai Petani, Kedah

1 Storey Terrace House

RM 130,000.00

Property Code                 : PB623723

Auction Date             : 02-Jul-2020 (Thu)

Built up / Land Area     : 1,292 sq.ft / 1,539 sq.ft

Tenure                         : Freehold

Unit No. 330, Third Floor, Serviced Apartment, Langkawi Lagoon, 07100 Langkawi, Kedah

Serviced Apartment

RM 105,100.00

Property Code : PB623484

Auction Date : 04-Jul-2020 (Sat)

Built up         : 414 sq.ft

Tenure         : Leasehold

Lot No. 26 (GRN 82598), Bukit Menaw, Bandar Gurun, Kedah

Agricultural Land

RM 20,630,000.00

Property Code : PB623305

Auction Date : 09-Jul-2020 (Thu)

Land Area : 14,669,326 sq.ft

Tenure         : Freehold

No. 91, Jalan MBI Desaku 7/1, Taman MBI Desaku, 09400 Padang Serai, Kedah

1.5 Storey Detached House

RM 324,000.00

Property Code : PB623026

Auction Date : 30-Jun-2020 (Tue)

Built up     : 4,284 sq.ft

No. 32, Taman Jitra, Jitra, Kedah

1 Storey Bungalow

RM 300,000.00

Property Code                 : PB622743

Auction Date                 : 09-Sep-2020 (Wed)

Built up / Land Area     : 1,975 sq.ft / 4,518 sq.ft

Tenure                         : Freehold

No. 617, Jalan Seroja 2/12, 08000 Sungai Petani, Kedah

1 Storey Terrace House

RM 100,000.00

Property Code : PB622712

Auction Date : 02-Jul-2020 (Thu)

Land Area : 1,195 sq.ft

Tenure         : Freehold

No. 383, Jalan Bukit Puteri 12/12, 08000 Bandar Puteri Jaya, Kedah

Terrace House

RM 170,000.00

Property Code : PB622696

Auction Date : 06-Jul-2020 (Mon)

Land Area : 1,400 sq.ft

Tenure         : Freehold

No. 200A, Jalan Bujang Indah 1/4, Taman Lembah Bujang Indah, 08100 Bedong, Kedah

Terrace House

RM 155,000.00

Property Code : PB622690

Auction Date : 06-Jul-2020 (Mon)

Land Area : 1,300 sq.ft

Tenure         : Freehold

No. 1029, Lorong Ria 5/6, Taman Ria III, 09400 Padang Serai, Kedah

Terrace House

RM 155,000.00

Property Code : PB622676

Auction Date : 06-Jul-2020 (Mon)

Land Area : 1,399 sq.ft

Tenure         : Freehold

No. 779A, Lorong Astana 38/3, Bandar Seri Astana, 08000 Sungai Petani, Kedah

1 Storey Terrace House

RM 130,000.00

Property Code : PB622669

Auction Date : 30-Jun-2020 (Tue)

Land Area : 1,302 sq.ft

Tenure         : Freehold

*Please contact me for the latest update or availability. Thank you.

Stamp Duty Exemption on Rescheduling or Restructuring of Bank Loans

The Covid-19 pandemic has affected businesses and individual ability to service loans with financial institution. In view thereof, the government has come out with various special measures such as the six-months’ moratorium on selected type of loans to help affected businesses and borrowers to weather to adverse effects of Covid-19. While the granting of the automatic 6 month’s moratorium is one of the rescheduling exercise, loans may be rescheduled or restructured in many other ways to suit the financial circumstances of the borrower.

Rescheduling a loan refers to the modification of loan repayment terms where the principal terms and conditions of the contract are not changed significantly, namely lengthening the loan tenure and revision of monthly instalments. Restructuring, on the other hand, is the modification of the principal terms and conditions of the facility which includes a change in the type or structure of the loan or other significant change to its terms.

Depending on the extent of the rescheduling and restructuring of a loan, a borrower will be required to execute an instrument to reflect the rescheduling or restructuring exercise. If the borrower is applying for additional loan sum, he would be required to execute a facility agreement or any other security document for the additional loan sum and such instrument will be subject to ad-valorem stamp duty.

In order to help businesses affected by the Covid-19 pandemic, Malaysia has announced its Economic Stimulus Package 2020 on 27 February 2020 where one of the measures is to provide exemption on stamp duty for rescheduling or restructuring of business loans. This was followed by gazette PU(A) 165 on 21 May 2020 stipulating a 100% exemption of stamp duty to be granted on the loan/facility agreement entered into between the borrower and the financial institution for the purpose of restructuring or rescheduling of their business loan. This exemption is applicable only if the stamp duty on the original loan agreement has been paid and only for loan restructuring and rescheduling agreements executed from 1 March 2020 to 31 December 2020.

Where the rescheduling or restructuring of loan involves variation to the terms of the existing loan that is secured by third party security such as a guarantee, consent from the third party to such variation needs to be obtained, otherwise there may be an issue of whether the liability of such third party is discharged pursuant to Section 86 of the Contracts Act 1950.

Disclaimer: Halim Hong & Quek

6 Ways To Reduce Your Mortgage Repayment Faster

UPDATED 15 JUN 2020 – BY TEAM LOANSTREET

In collaboration with ....

Purchasing a home is pretty much everyone’s dream, right? And, taking on that massive debt is a huge responsibility and can appear daunting - especially for first-time buyers. Plus, with this COVID-19 situation dampening our economy, of course, many of us are looking for ways to squeeze that ringgit as much as we can.

And when it comes to debt, you’d probably want to get rid of your mortgage as soon as possible so that you can focus more on other parts of your personal finance like using the saved money to invest in stock markets or fixed deposits. 

Now, this may sound like an uphill battle that you can’t win, but there are ways. If you’re wondering how to lower your mortgage payments each month, you’ve landed on the right article. Here are some tips to lighten the load. 

1. Make a larger down payment.

Whether it’s a landed or a high-rise unit, many people will opt for the minimum deposit rate of 10%. If you have extra cash, why not put a bigger deposit amount instead i.e 20% to 30% of the house price? You’ll be borrowing less which results in paying less in interest costs overall. 

For example, the house price is RM300k. We made a comparison of how much you’ll be paying in total if you were to pay 20% and 10% down payment using Loanstreet’s Home Loan & Stamp Duty Calculator.

From the above images, you can see that you’ll be paying less in total because the interest cost is lower.

 

2. Opt for a Flexi house loan

Point 1 is great, but what if you don’t have that extra cash, especially during this economic downturn? Well, fret not. There’s a solution for you. We suggest you opt for a Flexi house loan - even if you take loan margin of finance up to 90%. This is because it gives you the flexibility to pay more when you have excess cash AND also withdraw that excess cash for emergencies, whenever you want.

Besides offsetting your home loan principal, you’ll get to reduce your loan interest and tenure too without the need for complicated procedures, or additional charges. 

One thing to note is that most Flexi loans do come with a fixed monthly fee to maintain the current account which is ranging from RM5 to RM10 a month. Having said that, the amount of maintenance fee you pay is still considered low as compared to the amount you’ll be saving.

READ: Flexi vs Non-Flexi Property Loan Options
 

3. Pay extra using your EPF monies.

If you don’t have extra cash because of the financial constraints and still want to pay extra, you can consider using your EPF money. To be clear, this is great if you don’t care about reducing your retirement fund by EPF to reduce your house loan. If you already have an existing loan, you could either choose to settle your payment lump sum or go for the monthly repayment service. Take note that you’re only allowed to withdraw from your Account 2.



For lump-sum payment, the amount you can withdraw depends on your Account 2 balance or the total balance of your loan, whichever is lower, and convert it into advance payment. Meanwhile, for monthly repayment, you’ll need to first calculate how many payments you can make based on the available balance and fill in the form provided. EPF will then block the amount and make the payments automatically.


Although we did suggest EPF as one of the options you can go for to finance outstanding housing loans, we’d like to highlight one thing about using EPF monies to pay extra to loan repayments - it may not necessarily be the best move, especially with the current global pandemic and the slow economy. 

Plus, most financial gurus have pointed out that generally, if the mortgage interest rate exceeded the EPF dividend return, then it is advisable to apply for EPF withdrawal because the savings you’ll make from the interest will be more.

BUT, looking at the data above, we can see that the EPF dividend rate is higher than the mortgage interest rate (which is below 5%) for years now. Fast forward to today, the mortgage interest rate is at 3.40%, which is lower than the EPF dividend rate (5.45%) return. So, it’s best to think of the return before making any decisions.

Here’s the breakdown. Let’s say you have RM50,000 in your EPF account and the dividend rate is at 5.45%. Your total EPF after dividend would be RM52,725. Then, you have RM50,000 of the outstanding loan and the interest rate is at 3.40%, you’ll be saving RM1,700. But, between the RM2,725 dividend gain and saving RM1,700 interest rate, which one is more profitable? It seems better to keep those EPF monies.

READ: Can Your EPF Money Be utilised for Your Housing Loan?
 

4. Refinance your home loan.

Keep your eyes on the banks’ Effective Lending Rates (ELR) for better rates if you want to refinance to save from paying more interest, which also means lower monthly instalments. As an example, say your home loan has a fixed interest rate of 5% p.a., and the current refinance interest rate is 3.4% p.a.; you’ll be paying 1.6% less interest every year for the rest of your loan period if you go with refinancing.



HOWEVER, we don’t encourage you to refinance your loan if the original loan has a remaining tenure of fewer than 10 years or the difference between the interest rates is minor. Also, don’t overlook the cost of refinancing such as bank processing fees, stamp duty, valuation fees and legal fees.

READ: Refinancing Basics and Tips Used by Experts

 

5. Choose a home loan package that helps you save on interest.

Whether this is your first time taking a home loan or you just refinance, choosing the housing loan to pay for the home is just as important. We’d suggest you look for a home loan package that will help you save on interest.



For example, Bank of China Malaysia (BOCM) has a product called Flexi Housing Loan that’ll help you to save on interest by combining the Current Account with Home Loan. Just deposit more money into your Current Account at any time you wish and it’ll reduce the loan balance while subsequently reducing the loan interest too.

This is achieved by linking a Current Account to the loan. Every month, the instalment amount is deducted from the Current Account as scheduled. But, any additional money parked inside the current account will go towards reducing the principal amount owed.

So, if a customer has taken a full Flexi property loan of RM500k with a bank and the customer has RM400k in cash parked inside the linked current account, interest calculations will only be based on the net loan balance, which is RM100k. This saves the borrower RM400k in interest.

The best part is that you’re able to make unlimited withdrawals from your current account whenever you need it. Not to mention, BOCM is also running a good promotion rate of  3.10% p.a. for the first 2 years, subsequent years is 3.25% p.a. 

For more info about BOCM Flexi Housing Loan, call their Sales Team at 03-23878232/03-23878815 or visit any of their branches nationwide!

 

6. Use your Fixed Deposits (FD) fund 

This is a great option if you have excess money. So, instead of reinvesting your FD money, you can place the funds into your property loan account. This will not only lower your home loan interest rate and reduce your total owing capital and interest charged by the bank.



For example, Ali recently came into RM100k windfall. He wants to know which is better:

• put the money into FD which yields 2.15% p.a.
• put it into his Housing Loan which costs 3.4% p.a.

If Ali decides to put RM100k into FD at 2.15% p.a., he’ll collect RM2150 a year in interest. Meanwhile, if he chose to put RM100k into his housing loan which charges 3.4% p.a., he’ll pay RM3400 LESS a year in interest payable. What we can conclude here is that by putting his cash into his housing loan, Ali would save more than RM1000 more compared to putting it in FD.

You might think, compared to FDs, it might be more troublesome to withdraw any extra cash you might have put into your housing loan when you need it. This is the principle of liquidity – How easy is it to access your money when you need it?

That said, many mortgage products today (such as Flexi Housing Loan by BOCM) makes it easy for a person to withdraw any extra cash they might have paid into their housing loans. Some could even be more convenient than taking money out from FD even.

In short, it’s always better to put excess cash into offsetting a loan if the loan interest rate is higher than the FD yield.

 

But, before you decide to reduce your home loan, ask yourself these questions:

 

• Are you struggling to cover 3 to 6 mths living cost?

Because if something unfortunate were to happen to you (choy!), you don’t want to regret spending all that money to pay off your home loan earlier. 

• Do you have any other debts with higher interest rates?

If you do have other higher interest rates debts like a credit card or personal loan, it’s best to settle that first.  They have a higher interest as compared to mortgage - the longer you take to pay off the card or personal loan, the more money it costs you because you pay more in interest.

• Will your bank impose a prepayment penalty?

Some home loans come with a lock-in period, while others don’t - this depends on your home loan policy. On average, it can range anywhere between three to five years with an exit penalty of 2% up to 5%. If you pay before the said period, you'll have to pay a large amount of exit penalty.

If all of your answers are NO, then go forth and pick the best options for you to lower your mortgage loan.  Ensure that any overpayment you make goes to reduce the debt (so shortening the term) rather than just to reduce your monthly payments. If not, you’ll need to reevaluate your finances so that you won’t feel a burden later just because you want to reduce your mortgage balance.