Lowyat.NET: Latest topics by propusers

Buyer not plan to pay balance of 10% when sign S&P

propusers — Sun, 15 Aug 2021 21:15:54 +0800

I want to sell my house which is vacant now. Selling price is 700k.

The agent found a buyer but with condition below.
- Only pay 10.5k deposit (equivalent to 1.5% of 700k) when sign booking form
- Buyer don't have cash to pay the balance of 10% (8.5%) when sign S&P. Buyer plan to withdraw EPF after sign S&P and then only pay the 8.5% to me.

Is this normal nowadays? What should I take note or add any term in the booking form to protect myself?

I want to add additional term buyer need to settle the balance of 10% within 2 weeks after sign the SNP. Is that good enough?

Bank Negara Malaysia eCCRIS online platform

propusers — Sat, 20 Jan 2018 15:58:27 +0800

KUALA LUMPUR: Bank Negara Malaysia has launched its free online platform for the public to access their own central credit reference information system (CCRIS) report, anywhere at their convenience.

The new initiative – eCCRIS is a secure online platform – and the service is provided for free and is available nationwide starting on Friday.

Bank Negara said the CCRIS report shows the financing and repayment history of a borrower with participating financial institutions over the past 12 months.

“It does not provide an assessment of a borrower’s credit standing. It is therefore a factual report and is not a blacklist.,” it said.

Bank Negara said eCCRIS is an extension of its efforts to promote the financial well-being of all Malaysians by encouraging prudent financial management.

With eCCRIS, the public can now access their personal CCRIS reports online via the eCCRIS website.

Users can to monitor and verify their personal credit standing, including their loan repayment history.

Users will also be able to lodge data verification requests directly via eCCRIS to participating financial institutions to verify and correct any inaccuracies identified in their CCRIS report.

The platform was launched by Bank Negara Governor Tan Sri Muhammad Ibrahim.

Also present at the launch were Datuk Kamaluddin Ismail of Association of Development Finance Institutions of Malaysia (ADFIM), Tan Sri Tay Ah Lek of the Association of Banks in Malaysia (ABM), Datuk Mohd Redza Shah Abd Wahid of the Association of Islamic Banking Institutions Malaysia (AIBIM) and Marzunisham Omar, Assistant Governor of Bank Negara.

To register, the public simply needs to follow these five steps:

1. Walk-in to any Bank Negara Malaysia office or Agensi Kaunseling dan Pengurusan Kredit (AKPK) branch nationwide to perform a one-time registration.

2. At the CCRIS kiosk, individuals will need to verify their identity using MyKad, and register a valid mobile phone number. For businesses, an authorisation letter and company registration certificates are required for an authorised person to register on behalf of the company.

3. A 6-digit PIN will be sent to the registered mobile phone number.

4. Users are required to key in their MyKad number and 6-digit PIN for first-time login at https://eccris.bnm.gov.my

5. The user will then be required to (i) set preferred user ID and password, (ii) select personal security image and phrase, and (iii) set three security questions and answers.

Read more at https://www.thestar.com.my/business/busines...dAfWt8qjGJG1.99

Broadband with Mifi or portable modem

propusers — Wed, 01 Nov 2017 11:50:26 +0800

I would like to have broadband at my house without drilling. UNIFI need to drill to install the fibre cable.

So I am considering Digi and Maxis Broadband as follow.
http://new.digi.com.my/broadband#postpaid
Broadband 60
40GB
RM60 /month

https://www.maxis.com.my/en/personal/intern...ne-go-wifi.html
MaxisONE Go WiFi 78
Comes with 20GB
RM78 / month

seem like Digi is more valuable.

My handphone using Maxis 4G and the speed is satisfy.
Is there any possibility to test the 4G speed of Digi in my area? can I have trial test from Digi?

MRT Park and Ride

propusers — Tue, 18 Jul 2017 10:29:18 +0800

https://www.myrapid.com.my/traveling-with-us/park-n-ride

Anyone try park and ride MRT?

Is Taman Midah multi storey car park open already? What is the parking fee for MRT user? I can't find this info from myrapid website.

SUKE highway

propusers — Fri, 09 Jun 2017 10:52:55 +0800

Sungai Besi – Ulu Kelang Expressway is a proposed urban expressway in Klang Valley, Kuala Lumpur, Malaysia.
It will link up Sungai Besi, Alam Damai, Ampang-Kuala Lumpur Elevated Highway and Kuala Lumpur Middle Ring Road 2.
The 31.8 km (19.8 mi) expressway will be built to reduce traffic jams along the Kuala Lumpur Middle Ring Road 2 (Federal Route 28) from Ampang to Bandar Tasik Selatan.
It will be mostly elevated. There will be 3 toll plaza in Alam Damai, Taman Bukit Teratai and Ampang Indah.
The construction of the project will begin in 2016 and be completed in 2020.

SUKE will be constructed for two main reasons:
- To link existing highways and expressways, specifically the areas of Sg Besi, Cheras, Pandan, Ampang and Ulu Klang, whilst providing an alternative for users of the MRR2. This linkage will allow for smoother traffic and reduced amount of commuting time. The projected reduction of traffic congestion on Jalan Ampang is expected to be reduced by 36%, by 24% on MRR2 and by 12% on Jalan Cheras.
- The construction of SUKE will also address the traffic needs of the future, with projections and analysis taking into account traffic volume up to the year 2027. At the same time, SUKE will also work in tandem with the changing needs of Malaysians for a better quality of life: reduced traffic congestion and less time spent on the road.

https://www.google.com/maps/d/viewer?mid=1v...5999999994&z=13

SUKE alignment (Video at 3:20)

[YOUTUBE]k40AdQXIg3c[/YOUTUBE]

East Coast Rail Link (ECRL)

propusers — Mon, 13 Mar 2017 11:23:52 +0800

The proposed alignment features 23 stations running along a 600.3km route.

The new line is projected to connect passengers from Wakaf Bharu in Kelantan and Gombak in Kuala Lumpur in about 4 hours.

Is TOD (Transport Oriented Development) between cities and Greater KL the new trend in property investment?

Video 02:50 - TOD plan in Kota Bahru, Kuala Terengganu and Kuantan

[YOUTUBE]ieCC7JjdlV0[/YOUTUBE]

[attachmentid=8586712]

Lifestyle tax relief Budget 2017

propusers — Sun, 30 Oct 2016 17:38:47 +0800

https://www.lowyat.net/2016/117220/budget-2...-subscriptions/

The relief will now also extend to the purchase of smartphones and tablets, which is good news to those who upgrade their devices frequently. The inclusion of tablets is also welcome, as the introduction of hybrid devices like 2-in-1 laptops and the Microsoft Surface tablet lineup caused some ambiguity in their eligibility for tax relief.

On top of that, the new lifestyle tax relief will also include internet subscriptions. However, Prime Minister Datuk Seri Najib Tun Razak did not elaborate if this relief includes both home and mobile internet subscriptions.

After a week, now got answer already? Got tax relief for mobile internet subscripton like Maxis SurfMore?

Get back some surrender value of fire insurance

propusers — Fri, 11 Sep 2015 14:58:05 +0800

after sell a house, can I get back surrender value of fire insurance?
I just paid fire insurance in July 2015 and S&P signed in August 2015.

Is my lawyer responsible to help me get back the surrender value? Or I need to contact the insurance company myself?

Tyre shop ask me to use 2014 tyre.

propusers — Mon, 27 Jul 2015 13:44:49 +0800

Last week go change tyre..
Tyre shop ask me to use 2014 tyre... he said new tyre must put in stock 6 months baru cantik... 2015 just out from factory less than half year... he very lansi... say 2014 also need to order... he takda any stock... tell me if i wan 2015 he don't want do...

New Tyre manufactured need to put aside 6 months baru cantik to use? Really?

Any Experince in paying RPGT

propusers — Fri, 29 May 2015 16:47:19 +0800

Reference
http://malaysiantaxation101.com/2013/07/pr...gains-tax-form/
http://malaysiantaxation101.com/2013/01/re...-gains-tax-101/
http://1-million-dollar-blog.com/calculato...tax-calculator/
http://loanstreet.com.my/learning-centre/rpgt-in-malaysia

Besides lawyer fee and agents commision, is the following deductible for rpgt?
- bank interest
- cukai pintu
- cukai tanah

How long it take to get the refund from LHDN?

-- duplicate thread --

propusers — Thu, 19 Dec 2013 13:47:39 +0800

-- duplicate thread --

10 Year Limit on Mortgage Refinancing Cashout

propusers — Tue, 01 Oct 2013 14:36:29 +0800

In Q3 of 2013, Bank Negara Malaysia (BNM) issued new guidelines to banks regarding refinancing of mortgages. Prior to this, anyone could refinance their homes with repayment tenures up to 35 years. Under the new guidelines, any cash out amount from mortgage refinancing would be capped at 10 years tenure. Many people are now asking, how can you avoid it?

This guideline is part of Bank Negara’s efforts to reduce unnecessary household debt, and also cools any speculative activity in the property sector that is fuelled by lax home loan refinancing.

Effect of the guidelines

Before this, you could refinance your house up to 90% of its market value. The cash out amount can be used for any purpose. This includes investing in other properties, and is a common practice among serial property investors. Maximum loan tenure follows those of housing loans, which is 35 years.

Assuming the house is worth RM400,000, outstanding housing loan balance is RM150,000, interest rate is at 4.6% and Margin of Finance is at 90% of market value.

Example refinancing calculation under the old rules:

Amount to cover outstanding balance = RM150,000
Cash Out Amount = RM210,000
Total Refinance Amount = RM360,000
Tenure = Max 35 years
Total Monthly Installment = RM1,726.09

Example calculation under the new rules:

Amount to cover outstanding balance = RM150,000
Tenure = Max 35 years
Monthly Installment = RM719.20

Cash Out Amount = RM210,000
Tenure = Max 10 years
Monthly Installment = RM2,186.54

Total Refinance Amount = RM360,000

Total Monthly Installment
= RM719.20 + RM2,186.64
= RM2,905.84

That is a difference of RM1,179.75 per month!
Is there any way around it?

The good news is yes! As of this date of writing (27 Sep 2013), only 5 banks in Malaysia have implemented this limit. The rest are set to follow suit in the coming weeks. Additionally, this should see the re-emergence of Term Loan + Overdraft facilities that fell out of favour in recent years to Full-flexi loans.

http://loanstreet.com.my/learning-centre/1...nancing-cashout

Cost when buying a house

propusers — Sun, 17 Feb 2013 13:46:49 +0800

Is my figure below correct? Not update since few years ago...

S&P
a) Legal Fee：
First RM 150,000 = 1.0% (minimum fees of RM 300)
Next RM 850,000 = 0.7%
Next RM 2,000,000 = 0.6%
Next RM 2,000,000 = 0.5%
Next RM 2,500,000 = 0.4%
Excess RM 7,500,000 = Negotiable (not exceeding 0.4%)

b) Stamp Duty:
First RM 100,000 is at 1% of the value
Next RM 400,000 is at 2% of the value

c) Disbursement fees: Land search + Q.A Search + Affirmation and etc
~= RM 200 - RM 400

d) Others: Miscellaneous + Transportation
~= RM 150 - RM 250

Loan agreement
a) Legal Fee：
First RM 150,000 = 1.0% (minimum fees of RM 300)
Next RM 850,000 = 0.7%
Next RM 2,000,000 = 0.6%
Next RM 2,000,000 = 0.5%
Next RM 2,500,000 = 0.4%
Excess RM 7,500,000 = Negotiable (not exceeding 0.4%)

b) Stamping of Original Loan Agreement
= Loan amount x 0.5%

c) Disbursement fees: Title search + Bankruptcy search + Affirmation and etc
~= RM 300 – RM 500

d) Others: Miscellaneous + Transportation
~= RM 150 – RM 300

Memorandum Of Transfer (MOT)
Purchase Price (RM) Tiered Rate
First 100,000 1.00%
Next 400,000 2.00%
Exceed 500,000 3.00%

Hari Raya Promotion

propusers — Fri, 22 Jul 2011 22:46:00 +0800

Is Hari Raya Promotion started for Proton or Perodua?

What is the discount? Any free gift or free voucher?