Did you know what is the latest BLR (Base Lending Rate) or latest housing loan package? Overnight Policy rate (OPR) and BLR had being adjusted again. The world economy crisis was slow down most of the fields, include in Property sector.

The reducing of the BLR was benefits to home owners. Those housing loan borrower with floating rate type have chance to reduce monthly loan repayments or reduce total year of tenure for their housing loans.

Once again latest BLR recorded the lower point for past 20 years. Referring to Malaysia Bank mortgage BLR history. And below table show a list of Base Lending rate offered by Bank in Malaysia and the effective date.
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Frequencies ask question (FAQ) for Hong Leong Mortgage Plus

1. What is Hong Leong Mortgage Plus(HL Mortgage Plus)?
Hong Leong Mortgage Plus is a mortgage product that combines a term loan with transactional freedom of a current account.

2. Does it mean that I have to open two types of accounts for HL Mortgage Plus?
Yes. For every HL Mortgage Plus account, you shall open/maintain the following accounts with HLB:-
(I) a HL Mortgage Plus loan account (term loan)
(II) a non-interest bearing current account which is linked to (I) above.

3. How does Hong Leong Mortgage Plus works?
Hong Leong Mortgage Plus link your loan account directly to your Mortgage Plus current account, whereby the credit balance in your current account will automatically help to give you greater savings on interest. Read more »

Bank Negara Overnight Policy rate (OPR) being reduced to 2.50% (OPR decreasing in Jan’09), most of the banks adjusted the fixed deposit rate from 2.50% to 3.0% and Base Lending Rate (BLR). Those bank mortgage loan borrower with floating rate type have chance to reduce the bank mortgage rate. It’s one of the benefits on property investment.

However, it seems that few of the banks seems still not announce the changing of Base Lending Rate (BLR). Anyway, need to confirm with the bank whether the showed bank mortgage rate is not yet adjusted to reflect the changes of the OPR.

Referring to Malaysia Bank mortgage Loan BLR history, base lending rate hit lower point since year 1989. And below table show a list of Base Lending rate in Bank Malaysia and the effective date. (Note:some of the banks not yet announce the latest BLR). Read more »