Bank Malaysia Cut Mortgage Loan Repayments
Bank malaysia will reduce mortgage loans instalment payments (loan repayment), an exercise that will be completed by the first quarter of this year. Mortgage loans borrowers benefits from lower Base Lending Rate (BLR).
Customers who prefer to retain their loan repayment amounts need to get in touch with their mortgage loan banks. The association of bank malaysia said that the move by all commercial banks to cut instalment amounts follows the request by the Government to help borrowers facing difficult economic times. Loan repayment is one of the plan to help mortgage loans borrower and those are lost carrer in company retrenchmennt.
Lower monthly loan repayments will allow for more disposable income to be in the hands of the public and we reaffirm our member banks’ commitment to continue to be reasonable as well as responsive to the public’s needs.
The association bank malaysia said the move to reduce loan repayments was now possible following Bank Negara’s announcement of the reduction in the Overnight Policy Rate (OPR) on Tuesday (24/02/2009).
That move would bring about the reduction in the base lending rates of Bank Malaysia. With the reduction, all commercial banks had agreed to cut loan repayment amounts across the board and maintain the original repayment period.
However, mortgage loan borrowers also had the option of maintaining their monthly instalment amounts without and they have chance to shorter loan repayment period. Mortgage loan borrowers could consult their banks’ hotlines if they have queries on the proposed revision and other facilities.
In other word, property investor get benefit from the lower Base Lending Rate and loan repayments in mortgage loans. This can increase total return in property investment.
![Reblog this post [with Zemanta]](http://img.zemanta.com/reblog_e.png?x-id=3d8cdfef-ac9d-4fe1-8720-cb362e4f8da6)
Blog RSS
Subscribe to Full Feed RSS or via Email subscriptions!
Subscribe to the post Comments Feed or Link to this post by Leaving a Trackback
[...] news by admin « Money Professor » Mortgages » Conventional Interest Rate Home [...]
[...] news by admin « My Coast Guard Experience : Veterans Today – News for U.S. … Mortgage Loans | [...]
[...] news by admin « The Mortgage Minute: US bank of [...]
[...] Bank Malaysia cut mortgage loan repayments | Property Investment Blog [...]
[...] Bank Malaysia cut mortgage loan repayments | Property Investment Blog [...]
[...] Bank Malaysia cut mortgage loan repayments | Property Investment Blog [...]
[...] Bank Malaysia to cut loan repayments to help housing loan borrowers in uncertain market.Several banks have slashed interest rates imposed on housing loans and more are expected to join in the fray. [...]
[...] thought Bank Malaysia to cut loan repayments and banks continue slash interest rate recently, the demand for property in Penang are still in [...]
[...] Bank document.write(unescape(‘%4d%61%6c%61%79%73%69%61′)); cut document.write(unescape(‘%6d%6f%72… [...]
American Cash Advance…
Call me crazy but I really like a neat site that isn’t cluttered with useless stuff and has good content like this one. This is a very good site and you are right on top of it with the content here. Keep it going strong….
[...] through the problems you are facing. Even with mortgage rates being so low, lenders still make the loans repayments, so they will want to keep the loan active if at all possible. However, make the effort before your [...]
[...] Bank Malaysia cut mortgage loan repayments | Property Investment Blog [...]