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27.12.13

废除DIBS可抑房价?

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27.12.13

买方卖方皆关注 2014房事

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买卖房屋应负的责任

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14.12.13

外资买房 喜与忧

我国房地产需要外国投资者吗?这是个辩论已久的课题。 基本经济学指若需求增加,如果供应不足,价格会增加。 吸引外国买家,产业需求增加,房价自然上涨。 但如果外国买家进军大马产业导致过多的炒房活动,... read more

14.12.13

善用公积金买房

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Mortgage
Source: http://property.sinchew-i.com/node/220?tid=9

Glossary Description
Acceptance Letter A letter from the application indicating his willingness to accept the loan after the loan is approved by the banking institution.
Application Form A form used to apply for loan.
Appraisal/Valuation Report A written analysis of the estimated value of real estate prepared by a licensed Valuer/Appraiser.
Base Lending Rate (BLR) A minimum interest rate calculated by financial institutions based on a formula which takes into account the institutions' cost of funds and other administrative costs.
Commitment Fee A fee charged by the financial institution for setting aside funding that are not utilised by the borrower. Usually only applicable to overdraft facility.
Default Failure to pay the monthly instalment/interest payments to financial institutions when due.
Disbursement Fees Various type of fees such as registration of charge fee, land search fee, bankruptcy search fee incurred by financial institutions and solicitors attending to the loan documentation in relation to the loan which are payable by the borrower.
Documentation A set of agreements, forms, and other documents to be signed in connection with a loan. The documentation will form a full set of records for the loan.
Downpayment An initial payment made by the buyer to the seller of the house.
Financial Institutions All commercial banks and finance companies licensed under BAFIA 1989 and Islamic banks licensed under the Islamic Banking Act 1983.
Flat Rate A term to describe interest that is charged as a fixed percentage of the loan amount throughout the tenure of the loan. The flat repayment amount is usually determined before the commencement of the repayment programme. For example, interest charged on a RM 10,000 loan at a flat rate of 10% per annum is RM 1,000 annually until the loan is fully settled.
Floating Rate Loan A term used to describe a loan, where the interest charged fluctuates due to the rise and fall of a certain indicator such as the Base Lending Rate.
Foreclosure Legal action available to the financial institution for recovering outstanding sums owed by a borrower who has defaulted on his/her loan. The property pledged by the borrower to secure the loan is sold and the proceeds of the sale used to settle the outstanding loan amount.
Graduated Payment A scheme that allows the borrower the flexibility to pay a lower instalment sum at the beginning of the loan tenure before progressing onto a higher instalment sum as the borrower's purchasing power improves.
Gross Monthly Household Income The sum of gross monthly pay of all working family members before deducting income tax, Socso, EPF, loan instalment or other deductions plus any additional income from overtime, commissions and other sources.
Guarantor Person or entity who is legally bound to pay a debt incurred by the borrower if that borrower fails to pay.
Homeowners Insurance An insurance policy that combines liability coverage for a homeowner together with protection from damages caused by wind, fire, vandalism and other risks.
Interest Rate The amount charged by the lender to the borrower for borrowing a sum of money expressed as percentage of sum borrowed.
Late Charge A penalty charged by financial institution for not paying instalment due on time.
Letter of Administration A Grant of representation issued by the High Court to a person to allow him to administer the estate of the deceased who died without a will.
Loan Tenure Number of years taken to fully repay the loan principal and interest as agreed under a specific repayment programme.
Margin of Financing The loan amount granted by the financial institution, expressed as a percentage of the value of property pledged to secure the loan.
Mortgage Reducing Term Assurance (MRTA) A term insurance which reduces over the tenure of the loan. This form of insurance is used to provide cover for the outstanding loan amount, in the event of death or total permanent disability of the insured. MRTA is normally calculated to meet the outstanding loan amount.
Outstanding Loan Remaining loan not yet paid, including interest and other charges.
Overdraft A type of credit facility granted to the eligible current account holder. The borrower is allowed to issue cheques exceeding the credit balance in the current account but subject to a certain pre-approved limit granted by the financial institution.
Power of Attorney A formal legal document giving authority to one person to act on behalf of another person.
Prepayment Payment of all or part of a loan before maturity.
Prepayment Penalty A fee charged by financial institutions for early payment of loan in full. The fee charged is usually based on a percentage of the loan amount or X months of interest.
Principal The amount borrowed from financial institutions, excluding interest and other charges.
Property Refers to landed properties (like house, apartment, condominium) and land (like bungalow lots).
Refinancing The process of paying off a portion or the entire amount of the existing loan with the intention of obtaining another loan from the same or another financial institution.
Sale and Purchase Agreement A written contract signed between the buyer and seller stating amongst others, the terms and conditions under which a property will be sold.
Security Real or personal property that guarantees the repayment of a loan. The borrower risks losing the property if the loan is not repaid.
Term Loan A loan which is repaid through regular periodic payments, usually over a period of time, for example 10 years.
Title A legal document establishing the right of ownership on a property.