we focus on BLR

Home Loans | Loan Calculators
Latest BLR | Historical BLR
Mortgage Guides | Financial Glossary | Banks Directory

Home Loan FAQs




What is the Flexible Home Mortgage Loan?


In brief, the flexible home loan bringing together your mortgage, current account, savings into single account that can help you make your money work harder and reduce the amount of interest you pay on your borrowing. It's very simple, but the effect it can have on your borrowing can be amazing if you done it correctly. 

Reduce the interest you pay on your mortgage 

Just by deposited your income and savings into the same account as your mortgage loan, you're reducing your mortgage balance, as result, you only pay interest on the lower amount of your outstanding of your mortgage. This could save you a fortune over time and help cut years off your mortgage. And as the flexible home loan account is like a normal current account, you can get hold of your cash anytime you like. It's the same with your savings – when you need them, they’re there.

Repaying your mortgage early 

When you take out a mortgage, it's not the rate you pay that's important. What matters is the total amount of interest you pay over the time you're borrowing. With the flexible home loan, you use your income and savings to reduce your borrowings and minimize your interest payments. This means more of your money each month goes towards repaying the money you owe, helping you repay your mortgage years earlier and save thousands of dollars in interest costs.

Get complete flexibility in managing your finances 

Because the home loan account is so flexible, you can overpay to clear your mortgage quicker, or underpay or even take a break from your payments if you need to to do – without having to juggle your finances or leave yourself short. Plus some of flexible home loan even give you an agreed borrowing limit (your ‘facility’) that you can withdraw up to at any time, just like a pre-agreed overdraft. As long as you repay your mortgage by the time you retire and stay within your borrowing limit, how you run your account is up to you.




Bing Site Search Result Google Site Search Result Yahoo Site Search Result

Reasonable efforts are made to maintain accuracy of information published.
However, information could contain errors or inaccuracies and is presented without warranty and statutory means.
No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise.

© 2009 - 2014 BLR.MY ® All Rights Reserved