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Hi,

Appreciate if anyone could advise me on this. I had just refinance my house with rate BLR-2.2 . I think lock in period is 2 years and penalty for early settlement is 2 percent.

My house was valued at RM250k(this is like 6 mth ago) but since then I think price had picked up to about RM300k.

I have another housing loan for about RM78k with the rate at BLR-1.9.

So I'm wondering if I should re-finance a second time for my RM250k property and settle the second property. I have some extra cash still from the first re-finance and just need a few thousands more for me to be able to settle completely my second house.

Any comment appreciated. Thanks.

Hi,

Any broker out there could suggest a better refinance rate than BLR-2.4 for a loan over 300K?

Thanks

if you are willing to bare the cost of penalty, you can go ahead let the valuer revalue ur current refinanced house, if the value more than 300k let say 320 to 350k, then i will recommended to do so

Remember, whenever u do every refinance will only keep more legal cost to you, make a breakeven at least 20 to 25% increasing of the 250k , then you will understand what i mean

you can ask valuer to check the current price 1st, for sure you need to bare the valuation cost less than RM1k

Aksah,

BLR-2.4% for a loan around RM300k is good enough.... unless over 1mil, bank might consider up to BLR-2.45-2.5% and that will take into consideration whether you are their existing client or under privileged client list.

If you need further help to calculate whether if you case worth for refinancing? do drop me a line or get in touch 013-3808203

Regards,
Martin Lau
D'Venture FlexiHome

Refinance means tha Replacing an order loan with a new one loan offering good terms. When business refinance, it typically extends the maturity date.

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