Author Topic: Anyone apply Klibor base housing loan before?  (Read 10479 times)

Offline didikjaya

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Anyone apply Klibor base housing loan before?
« on: May 20, 2014, 04:38:52 PM »
Recently i saw a house and thought of investing on it. I have went to the bank to ask about the housing loan. The mortgage loan advisor told me they have 3 type of loan, BLR one, islamic and Klibor loan. It was my first time heard about the word Klibor, sound alien to me. Anyone know what is the benefit of this Klibor loan?

Offline dreschan

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Re: Anyone apply Klibor base housing loan before?
« Reply #1 on: May 21, 2014, 11:48:23 AM »
When u wanna apply for the housing loan??
If on next year sure you will apply the KLIBOR..
According to BNM, the BLR may  have  become  less  relevant so they wanna replace it with the KLIBOR!!
Mayb you should read this article
http://klse.i3investor.com/blogs/rhb/45052.jsp

Offline carmenyoo

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Re: Anyone apply Klibor base housing loan before?
« Reply #2 on: May 22, 2014, 04:05:57 PM »
BLR suddenly change to KLIBOR sure confusing u all but i can explain what is KLIBOR.
KLIBOR is stand for Kuala Lumpur Interbank Offered Rate.
This rate is fully transparent as it's published on daily major newspaper. KLIBOR is the interest rate which banks and financial institution in Malaysia borrow from each other and is set at 11am daily. Rates are contributed by 12 banks  which are appointed by BNM and its appointment will be revised every 2 years.

Offline didikjaya

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Re: Anyone apply Klibor base housing loan before?
« Reply #3 on: May 23, 2014, 01:04:41 PM »
Actually i wanted to find out more about others housing loan Vs Klibor loan and make a comparison. By the way, which bank are having KLIBOR loan now?

Offline fofo

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Re: Anyone apply Klibor base housing loan before?
« Reply #4 on: May 24, 2014, 11:19:04 AM »
IS already confirm by the BNM that start form year 2015, all the bank need to had the KLIBOR loan to replace the BLR loan rate that currently had..
Here is the news for your review
http://www.bnm.gov.my/index.php?ch=en_press&pg=en_press_all&ac=2976&lang=en

Offline kungwensiang

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Re: Anyone apply Klibor base housing loan before?
« Reply #5 on: June 02, 2014, 12:57:40 PM »
i just realize there are so much changes in housing loan..
start from next year all loan interest rate will be calculated according to KLIBOR rate so that means if i apply home loan at 2015, i must attached with KLIBOR package.
where can i know the latest KLIBOR rate? currently what is rate?
as i know the KLIBOR rate changes daily, if KLIBOR rate change that mean the  interest rate for KLIBOR home loan rate will change daily as well.. it seems very complicated!


Offline didikjaya

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Re: Anyone apply Klibor base housing loan before?
« Reply #6 on: June 03, 2014, 08:19:24 AM »
Just curious what is so special about this KLIBOR housing loan? If apply housing loan now, we actually still can choose between BLR type, Islamic or KLIBOR. But why choose KLIBOR now wor?

Offline gaokopi

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Re: Anyone apply Klibor base housing loan before?
« Reply #7 on: June 04, 2014, 03:03:36 PM »
Actually i wanted to find out more about others housing loan Vs Klibor loan and make a comparison. By the way, which bank are having KLIBOR loan now?
As what i know is in Malaysia, only Hong Leong Bank and Standard Charted Bank offer the KLIBOR housing loan..
Seem the HLB is more advantage as the KLIBOR is on Flexi Home Loan

Offline raychan

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Re: Anyone apply Klibor base housing loan before?
« Reply #8 on: June 05, 2014, 01:36:14 PM »
i just realize there are so much changes in housing loan..
start from next year all loan interest rate will be calculated according to KLIBOR rate so that means if i apply home loan at 2015, i must attached with KLIBOR package.
where can i know the latest KLIBOR rate? currently what is rate?
as i know the KLIBOR rate changes daily, if KLIBOR rate change that mean the  interest rate for KLIBOR home loan rate will change daily as well.. it seems very complicated!

i already searched the info about KLIBOR and here are what i get.
 KLIBOR home loan package interest rate is updated every 3 months.
  KLIBOR home loan interest rate is calculate as shown below:
The first 3-Month KLIBOR is fixed on the business day immediately before the first loan disbursement date.
The next 3 months interest rate is sets by adopting the 3-month KLIBOR rate which is fixed on the last business day of the 3 months period.
i found that KLIBOR is good because it have full transparency on rates and more reflective of current market situation.

Offline bakchang

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Re: Anyone apply Klibor base housing loan before?
« Reply #9 on: June 05, 2014, 03:07:41 PM »
i just realize there are so much changes in housing loan..
start from next year all loan interest rate will be calculated according to KLIBOR rate so that means if i apply home loan at 2015, i must attached with KLIBOR package.
where can i know the latest KLIBOR rate? currently what is rate?
as i know the KLIBOR rate changes daily, if KLIBOR rate change that mean the  interest rate for KLIBOR home loan rate will change daily as well.. it seems very complicated!
As far as I know, KLIBOR home loan will change very 3 mths, here am sharing with you the basic calcutation for this KLIBOR home loan. 1st 3 mths rate is fix base on the 1 day before business day of your loan disbursement. For the following 3 mths, it will be taken bease on the last day of the mth. I prefer KLBOR as it is very straight forward and suitable for market changes.

Offline bakchang

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Re: Anyone apply Klibor base housing loan before?
« Reply #10 on: June 05, 2014, 11:04:39 PM »
i just realize there are so much changes in housing loan..
start from next year all loan interest rate will be calculated according to KLIBOR rate so that means if i apply home loan at 2015, i must attached with KLIBOR package.
where can i know the latest KLIBOR rate? currently what is rate?
as i know the KLIBOR rate changes daily, if KLIBOR rate change that mean the  interest rate for KLIBOR home loan rate will change daily as well.. it seems very complicated!
As per today, the KLIBOR rate is 3.47%, Latest KLIBOr rate can be get from the link as this: http://www.exim.com.my/interest-rates, also the rate can be easily get from major paper such as The star, nanyang, hina press and Sichew daily.

Offline fofo

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Re: Anyone apply Klibor base housing loan before?
« Reply #11 on: June 06, 2014, 10:14:01 PM »
Just curious what is so special about this KLIBOR housing loan? If apply housing loan now, we actually still can choose between BLR type, Islamic or KLIBOR. But why choose KLIBOR now wor?
As mention b4 in 2015, the KLIBOR will replace the BLR! so all home loan package should be in KLIBOR!!
Reason to chose KLIBOR as BNM already stated BLR is not relevant to current market situation and need to be replace, y u keep on getting the things that already outdated??
Example, if an old car want to phase out already would you still want to buy or you would wait for the newer model although it will be more expensive?
What is spare parts are not available anymore?
Perhaps the possibility that KLIBOR will be more regulated because it's aligned to bank negara's direction?
Whilst for BLR, nobody will know how the rate will be later on

Offline dpkong

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Re: Anyone apply Klibor base housing loan before?
« Reply #12 on: June 09, 2014, 07:25:18 PM »
If KLIBOR changes more often than BLR, it might not be a good thing. All depends how much it changes and how frequently. Is there a cap on the maximum? Who regulates the rate?

If it shoots up too much and too often, lenders will be faced with either increased monthly instalments or extended repayment period.

Another way to keep all your noses on the grinding wheel eh?

Offline didikjaya

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Re: Anyone apply Klibor base housing loan before?
« Reply #13 on: July 17, 2014, 05:59:55 PM »
it is true that KLIBOR will change more frequent than BLR... after OPR increased 25 basis point  announce by BNM recently.. you see the difference... BLR immediate increased 0.25% but KLIBOR was increasing too.. but only 0.03%...
as what i found out over this incident.. KLIBOR will only goes up slowly and borrower might not feel the burden over the increment. But BLR is different.. it can be change over night... you may not easily adapt...