Another Complaint On Mortgage Loan

Have you come across an article as showed above in Sin Chew Jit Poh ?

From my opinion, I would say that the outstanding of RM 10,2000 of her home loan after her full loan period completion (17 years) is possible. There are a few variables which would affect housing loan, for instance: loan period, monthly installment amount, interest rate (BLR), loan principal…etc. 

Base on her borrowing detail, she start her loan from bank in Year 1991, during the year BLR is 7.5%, Year 1992 BLR is 9% and Year 1993 BLR is 9.5%.....Year 1998 BLR is 10.5%,  the BLR keep increasing means that the loan interest is also increasing and vice versa. Although her loan period in agreement is for 17 years, however, she will still owing certain amount to bank due to the increasing BLR. Even she seek for a lawyer for her case and put into a court case, I can say that the banker still the winner.

Based on the loan agreement and letter offer she had signed, all the terms and conditions have clearly outline. I can say that, if she is smart, she can seek for a mortgage auditor to audit her loan when her loan is started, then she will not face this problem at the end of her housing loan.

Be a smart home owner and do not fully depend on banker’s one side information on your housing loan status, get a professional to audit and monitor for such long term liabilities to prevent any regret at the end of the day