Restructure Your Loan - Save Interest

For mortgage loan or housing loan, it is commonly known as refinance.

Other loans like credit cards, personal loans, business now, we call it restructure.

Restructuring, the process of it, will take some works and some cost to it. But having said that, it will save you tons of $$$ in the long run.

If you need cut the 18%pa interest charge on your credit card outstandings or any other loans you are carrying, buzz me at 012-233 8525.

If you are a businessman, or know someone who need to look into restructuring loan or even get more funds to expand their business like the SME categories, please call me or email me at

Personal Finance Tips - Azizi Ali

The guru's tips is none other than Azizi Ali. Top 10 questions answered by him. Check it out here:-
What inspired you to write books and share your knowledge and experience? Noor Farah Hanim Mohd Suffian, Kuala Lumpur
I love to write, and have been writing since I was in primary school. When I decided to become an author, the obvious subject was something that I was equally good at – money. And so I wrote Millionaires are from a different planet. It was a total blast.

I’m touched to hear that my books have changed lives.
My life changed because of a book I read. So, being able to improve other people’s lives with my books really warms my heart.
What is the one thing that most often stands in the way of somebody becoming a millionaire? Teck Lee, Shah Alam
Many things stand in the way – lack of knowledge or desire, unwillingness to work hard or learn and an inclination to give up too easily, among others.
The wonderful thing is that all of the obstacles can be overcome. You can do anything you want and you can achieve anything you want. In case you have not realised it yet, there is no bumi quota when it comes to money. It is not easy to become a millionaire but it is not as hard as you think. Do the right things and the money will come.
You focus a lot on investing in properties. How have you done in other types of investments? R.S. Kumar, Banting

I have some investments in stocks that are being handled by a fund manager. He has fared pretty well in the past four years, especially when you consider that the market has dived in recent months.
I used to have some money in unit trusts but I sold all of them a couple of years ago. I was dismayed at the high fees charged by the unit trust companies and see no reason why I should be paying such high fees to get mediocre returns. The only money I have in unit trusts now are in the Permodalan Nasional Bhd (PNB)-run funds. I do not invest in futures, options, foreign exchange, gold, silver, commodities or anything that has the word “offshore” in it. I do not invest in them because I want to become rich, not poor.
Are your children good with money too? Karen Toh, Malacca
My wife and I do guide them about it. They are learning and getting better at it every single day. I’m sure they’ll do very well in the future.

Kota Damansara-Cheras LRT

Read more HERE

AIA Fixed Rate Home Loan @ 2008

Call 012-233 8525

AIA MORTGAGE SAVE

Comes with 100% Protection against Death & Permanent Disability at affordable premiums PLUS Guaranteed Savings and Cash Value


AIA MORTGAGE SAVE      LOAN TO VALUE (LTV) 80%-90%           (LTV) < 80%
Zero Moving Cost (ZMC)       5.85% pa for entire loan tenure                           5.75% 
Non ZMC                                 5.70% pa for entire loan tenure                           5.60% 

The additional terms and conditions for AIA Mortgage Save are as follows:

1) Customers would be required to purchase a new AIA Whole Life Non-Par (WLNP) policy to fully cover the loan.

2) The new AIA policy purchased is to be assigned to the loan and must be kept in force throughout the entire loan duration. A lapse in policy due to non payment of the premiums will result in the loan reverting to the normal rates of 5.99% p.a. from the date policy is lapsed and the benefits terminated.

3) Cash value is guaranteed with the condition that the policy premiums are paid promptly and subject to other terms and conditions of the AIA WLNP policy.

4) Eligibility for AIA Mortgage Save is also dependent on the insurability and the health conditions of the clients.

Who can apply?

· Individual Malaysian Citizens or permanent residents.

· For Self Employed - The business established for at least 3 years and operating profitability for the past 3 years.

Properties Financed

Completed residential properties with permanent Cerfiticate of Completion & Compliance (CCC)

· Landed - Klang Valley, Penang/Seberang Prai, Sg. Petani & Kulim, Seremban, Johor Bahru, Ipoh, Kuantan, Malacca Town, Kota Kinabalu, Kuching and Batu Pahat only.

· Non-landed e.g. apartments, condominiums & townhouses - Penang Island & Klang Valley only (excluding Kajang and Klang).

· Note: For leasehold land, the unexpired land lease must exceed 30 years upon maturity of the loan ( for Peninsular Malaysia and Kota Kinabalu only).

Excluding residential properties located at landslip/flood prone area/ Oxidation pond/power station, T-junction and native land.

Under construction properties – available within AIA’s approved list of panel of developers and projects.

Loan Tenure – Up to 30 years or age 65 whichever is earlier.

Minimum Loan Financed : RM 100,000

Margin of Financing (MOF)

· MOF is based on Open Market Value (OMV) or purchase price whichever is lower for new purchase.

· OMV shall be based on the valuation report prepared by AIA panel of valuers.

	Landed Properties	Non-landed Properties
New Purchase (Up To)	90%	80%
Refinancing (Up to)	80%	80%

*Note: Exceptions can be considered on a case by case basis. MOF is subject to the discretion of AIA Bhd.

Prepayment Fee for Non Zero Moving Cost (NZMC package)

There will be a prepayment fee levied should the loan be refinanced or settled due to sale of property within the 1^st 5 years from the date of 1^st drawdown. The prepayment is chargeable at the rate of 0.35% times the number of remaining years of loan (not exceeding 4% subject to a minimum rate of 2%) times the amount prepaid. The prepayment fee will be waived if settlement or partial settlement is from own savings and / or withdrawal of EPF. If due to the sale of property, the fee can be waived if it is replaced by another loan subject to the discretion of AIA.

Prepayment Fee for Zero Moving Cost (ZMC package)

A prepayment fee of 3% of the approved loan amount will be levied if the loan is settled within 5 years from the date of 1st drawdown.

Insurance

· Houseowner Insurance on the property to be taken with AIA for landed properties.

· All loans under AIA HOME LOAN packages are to be adequately protected by AIA Group Mortgage Reducing Term Assurance (MRTA) or AIA life policies and for AIA Mortgage Save it is packaged together with AIA new Whole Life Non Par.

Buying A Property In Malaysia

A foreign purchaser asked me recently what is the process of buying a property in Malaysia and this give rise for me to post on the topic, briefly.
1 - You list down your creterias and here are suggestion of important pointers to decide
a) Your budget - when an agent asked you for your budget, it will expediate the process faster and as a purchaser, you don’t need to get offended by the question. I came across some clients who were defensive and some even got mad by the question. It doens’t really meant we can’t afford nor the person is looking down on you. Many investors would preferred to buy few properties at different locations, for different purposes. Again, it is for easing the whole process in a faster mode.
Click HERE for the full version.