How To Finance An Apartment Purchase In Malaysia

If there was a contest to determine the most popular business in Malaysia, mortgage lending could certainly compete. Just about any institution with cash i.e. banks, or access to someone else's cash i.e. insurance companies, wants to be in the residential lending game. It is a fact one can easily confirm with a quick glance at the local newspapers. You will see pages after pages of mortgage lending offers.
There are many lenders in the market, and the first time apartment buyer should talk to as many people as possible. The reason for this is to find the best mortgage lending offers available. In additional to the newspaper, good mortgage lending offers can also be found in the yellow pages, real estate directory and by asking real estate lawyers, real estate brokers and agents, and people who have bought apartments recently.
For many years the best known mortgage lenders were Malaysian local banks such as Maybank, Public Bank and Hong Leong Bank. In the recent years, the insurance companies have jumped on the mortgage lending business bandwagon. Even tough the insurance companies are not primarily in the mortgage business, they have managed to packaged mortgage plan bundled with their insurance product. In some cases, first time apartment buyers can obtain access to insurance funds only through mortgage bankers and mortgage brokers.
Mortgage bankers are individual and organizations who loan their own funds and the funds of others to real estate purchasers. Once a mortgage is made, the mortgage banker typically sells the loan to an investor. A mortgage broker, unlike a mortgage banker, does not have capital to lend but instead loans money that belongs to others. He makes his money on fees, charges and points. In addition, a mortgage broker may also service loans.
Just like in any country, to finance an apartment purchase in Malaysia can be a daunting task. A typical mortgage payment term for the average Malaysian is from 15 to 30 years. The best thing for a new apartment purchaser to do is to get advice from the right people before signing on the dotted line of a mortgage agreement.

Scholarships for Students in Malaysia

You can stop eating corn and bread every week now for Shell is offering scholarships again in order to help students who are studying in universities locally and abroad. Shell Scholarship 2010 is offering several scholarships for students who are pursuing their full-time undergraduate studies in these fields; Petroleum Engineering, Chemical Engineering, Electrical Engineering, Mechanical Engineering, Geosciences, Chemistry, Physics, Business Administration or Economics, Finance and Accounting, Information Technology and Masters of Science in Geosciences.
If you have completed your SPM/O-Level or equivalent-STPM/A-Level/Foundation Year/Diploma or is currently in your final semester of Matriculation or private or public University and you have strong academic record (realistic expectation of CGPA or its equivalent), you are eligible to apply for the scholarship. Other requirements are:
- Good command of English
- Demonstration of leadership skills through active participation in extra-curricular activities such as clubs, societies, sports and et cetera.
- For Masters of Sciences in Geosciences, candidate must have good Honours Degree or equivalent in relevant field from recognized university.
Malaysian applicants must at least possess a credit in Bahasa Melayu at SPM level or its equivalent qualification whereas foreign students and local student are required to be proficient in both written and spoken English. Applicants must be able to fulfill these requirements:
- Minimum TOEFL score of 550 or
- Minimum IELTS score of 6.0 or
- Minimum ELTS score of Band 6 or
- Minimum MUET score of Band 4.
Native English speakers and holder of degree with English as medium of instruction may be exempted from the above requirement.
Application form is to be submitted online. You may base your application on the latest semester results (Matriculation) or trial examination results (SPM and STPM). Also, please note that only shortlisted candidates will be notified to undergo an interview. Also, Shell Malaysia will reject any incomplete application form and late submission.
A Shell scholar, Karen Wong shares her experiences working with Shell as a Management Accountant. "To me, Shell is a not only a company that generates robust profitability but also cares for its people. Needless to say I am overjoyed and grateful for the opportunity to be a Shell Scholar and eventually an employee of this MNC that is fully committed to sustainable development."
So, act fast and submit your application before the 31th of Jul 2011.
With Shell Scholarship, money will no longer be the barrier to your goals, ambitions and success.

Finding a Virtual or a Serviced Office: Malaysia As a Top Choice for an Office Address in Asia

Company owners, and also other executives, will always have diverse business office needs. Quite a few may choose to have a fully serviced office, which has equipment and amenities. Still, other folks may require a modest-sized office space with a desk and a chair. Business owners have a common need, nevertheless, and that is to have a renowned office address right in the core Malaysian business districts.
A company or individual's office address can often be indication of the state of a business. A famous address may mean that this company is well-established in their market. A small office along at the borders of the city may signify a business is still a start-up company.
Usually, start-up businesses have a problem with their finances and investing in a great business office in the central business district may be impractical or suicidal. Due to this concern, many company owners believe that it is best to get a virtual office or a serviced office.
Malaysia is one of the best countries in Southeast Asia and in the whole continent. Regarded as an alpha world city, numerous banking institutions and also other sectors have set up offices in the nation's capital, Kuala Lumpur. Because this city is Malaysia's key business district, the cost of an office here is costly, too.
That's the reason it is more sensible to get a serviced office and a virtual office. Malaysia properties are some of the very best in Asia because of tight building security regulations and the beauty of the designs. On the other hand, small- and medium-scale businesses are discovering it tough to build a business office here because of the price. Controlling the cost is one of many main considerations in getting a virtual or serviced office. Malaysia, without a doubt, is among the cities that could provide these facilities.
Nevertheless, what exactly are serviced offices and virtual offices? Just how can they assist, small-scale organizations and foreign-owned ones? Serviced offices offer an individual or a company with a fully serviced office or executive suite with flexible and easy leasing terms and conditions. In a serviced office, Malaysia company owners can share equipment, communication, and facilities to many other tenants.
Another highlight is no requirement for the business to employ a front desk staff because this person is already included in the contract. For most businesses, that is a very cost-effective answer, as they no longer need to buy the essential office equipment and furniture.
In the mean time, a virtual office allows someone or a firm to show professionalism using a famous office address, nevertheless without its expensive cost. The reason being small business owners only use the address, but not the physical office itself.
Countless small-scale businesses worldwide have benefited from a virtual office. Malaysia based foreign business owners know that they can benefit from one as well. Virtual office providers in Malaysia will provide a receptionist to respond to the calls for their customers. Important communication services are also included, and also access to other facilities.
Countless small-scale and foreign-owned businesses benefit from having a serviced office. Malaysia based businessmen and firms also save a lot of if they get a virtual office. Malaysia is one of the best countries in Southeast Asia to work in because of its surging economy. However, there is no need to pay for extra for an exclusive and fully serviced office when you can get these useful office solutions.

Time to Get "Back-to-School" Insurance

As August begins, it's time to start thinking about going back to school! What does that have to do with insurance? Here are a few things to keep in mind.

Good Grades - Do you have a teenage driver in the house (or one on the way)? Many policies allow discounts for students with good grades. Give us a call at 888-867-2866 to see what documentation is needed for your policy. And don't forget to talk to your kids about the importance of keeping those grades up! These discounts can apply to college students, too.

Driver Training - There are different discounts available for Drivers Education classes. We can review all the options available, and let you know which discounts will impact you the most.

Moving To The Dorm - Is your college student living in the dorm this semester? Your homeowners insurance may cover their belongings without additional coverage being needed. This is called Property Off Premises coverage. Remember, any claims would be subject to your deductible which is usually higher on home policies! Let us review your policy to check for the specifics amounts of coverage included.

Moving To An Apartment - Let's say your college student has graduated from the dorms and moved on to an apartment. In this case, your homeowners insurance would not cover their belongings and they would need their own renters insurance policy. Renters insurance is very affordable and covers all of the contents of the property. It also provides liability insurance if someone were injured in the property or if the student caused a fire, etc. By making sure they are properly insured, you are also protecting yourself.

We work hard to make sure all of your clients have the right coverage at all times. The fastest and easiest way to make sure your student is receiving all the discounts they qualify for, and that their belongings are covered at college, is to schedule a review! Call SAV-ON Insurance Agencies at 888-867-2866 to review your policy and situation and we'll make sure all of your questions are answered.

Financing Overseas Property Investment: Malaysia and London

Amid the latest round of cooling measures in January 2013, which is one of the most comprehensive to date, Singapore's investors are turning to overseas real estate markets to profit from property investments.
Lured by news of a high-speed rail linking Singapore and Kuala Lumpur by 2020 and the rise of Iskandar Malaysia just across the Causeway, property investors are ever more eager to sink monies into Malaysian properties.
Farther away, across the European continent, Singaporeans are attracted to their former colonial master - Britain - as an investment destination. Specifically, London properties see warming buyers' interest with recent launches registering brisk sales. Just into 2013, and already several London property launches have made their way into Singapore, including Highwood House, Fulham Riverside and Chelsea Creek.
The attractions of London properties lie in their rising rental yields and strong capital values.
Thus both investment destinations (Malaysia and London) Singaporeans are eying have strong historical ties with Singapore, and now it looks like their investment ties are strengthening as well!
Interested buyers hoping to jump into this property investment bandwagon will likely finance their property purchases with a bank loan. Capitalising on this, banks are already rolling out mortgage packages for London and Malaysia exclusively.
One bank introduced 3-month SIBOR-pegged loans in Singdollar for property purchases in both places.
Borrowers have to be Singaporeans or Singapore Permanent Residents (PRs) only. For the latter who are also Malaysians, the added criteria is that they must not be residing in Malaysia.
Specifically, the bank's London mortgage package allows borrowing of between S$300,000 to S$3 million, with a maximum of 70% loan-to-value (LTV) ratio.
On the other hand, its Malaysia's package allows for loans starting from S$200,000, with no upper limit. The LTV ratio is also 70%.
Both loan packages come with a lock-in period of only a year. During this period, partial or full repayment will be subjected to a penalty charge of 1.5% of the outstanding loan amount.
Loan cancellation will be subjected to a penalty of S$1,000 or 1.5% on amount cancelled or undisbursed, whichever is higher.
Loan tenure can be anything between 5 to 30 years with a cap of 70 years.
Similar to Singapore home loans for the island-city's properties, the two packages are available for building-under-construction projects, but only a progressive payment scheme is allowed.
However, for refinancing the property must be completed.
Very importantly, do take note that there is a call on margin if the LTV rises to 80% and above. When this happens borrowers will be asked to repay part (above the monthly installment amount) or all of their loan.

I am a writer for iCompareLoan and PropertyBuyer.com.sg
You can find more articles on our websites.
We offer FREE expert home mortgage advice and Singapore's most advanced loan analysis system. You can also make use of our FREE calculators for your home purchase planning.

Top 10 Ways to Save on Your Auto Insurance!

Looking for ways to keep your auto insurance premiums manageable? 10 ways you can save on your insurance without sacrificing coverage.

1. Driving Record
Your driving record plays a big role in how much you pay for insurance. By keeping a clean record for 3-5 years, you can save hundreds of dollars! Be a cautious driver, don't speed, and you'll lower your premiums.

Save Money on Your Car Insurance!

2. Defensive Driving Course
Defensive driving courses are an easy way to achieve an extra discount. They can also help keep a ticket from showing up and messing up your clean driving record. Make sure to call us before taking the class if you're using it for a discount so we can verify that your policy qualifies.

3. Anti-Theft Devices
Installing an alarm or other anti-theft device can lower premiums on your vehicle. Make sure to discuss all features with us, sometimes even power locks and a remote can count!

4. Your Credit Score
While insurance uses a different formula then the credit bureaus, your credit still affects the rate you pay. Good credit can save you hundreds (even thousands) on your premiums! Make sure to review your report on a regular basis and have any mistakes corrected.

5. Where You Live
Rural areas pay less for insurance than the big cities do. It's all about risk and with a large population, there is more chance for an accident. Therefore, where you choose to live can impact your rates. Consider visiting with us before purchasing a home if you're concerned about the costs (it is based on the zip code).

6. Type of Vehicle
The vehicle you choose to purchase also makes a difference! Some vehicles cost a lot more to repair than others, which drives up their rates. Easy way to avoid buying a money-sucker? Call us first and let us quote the vehicle before you sign on the dotted line.

7. How Often -- and Far -- You Drive
If you take public transportation and only drive on the weekend, you'll pay less than someone with a long commute. Make sure to review your annual mileage and daily commutes with us (especially if they change) so that you can receive the extra savings.

8. Raise Your Deductible
A higher deductible (your out of pocket cost in a claim) means a lower monthly rate. If you have $1,000 in savings and could afford to use it if you had an accident, then you'll save on your insurance cost by having a $1000 deductible instead of a $250. We can help you review the costs and benefits in your specific situation.

9. Your Agent
And the best way to save? Work with a local agent! You'll get the coverage you need plus you'll have an advocate working on your behalf to find the best rate, all the discounts, and an easy explanation of any gaps in your coverage. It's the #1 to control your risk, maximize your savings, and protect your family.

10. Call SAV-ON Insurance
We want to be your agent. Call us at 888-867-2866 to discuss your policy today. Our goal is to save you money! As an agency, we have more than 30 insurance companies to choose from in getting you the best rate out there.

Carbon Monoxide Alarms Required in All Homes -- and They Could Save Your Life!

As of January 1, 2013, Washington state law requires that all single-family residences, apartments, condominiums, hotels and motels have properly operating carbon monoxide alarms installed. These devices, about the size of most smoke detectors, will emit an alarm if even a small amount of carbon monoxide is detected in the air.

Carbon monoxide (CO) is an odorless, invisible gas that can make a person sick -- or kill them -- in a matter of minutes. Carbon monoxide can quickly build up in enclosed or semi-enclosed areas, and many victims may not know it until it's too late, especially if they are asleep. Entire families have perished due to a CO leak in the middle of the night.

In fact, carbon monoxide poisoning has killed more than 1,000 Washington residents between 1990 and 2005. After the windstorm the Puget Sound region experienced in December 2006, over 300 people were treated for CO poisoning, and eight people died.

CO poisoning typically occurs with the use of charcoal or gas grills indoors, since some people, in an attempt to heat their homes during a power outage, bring barbeque grills inside to provide warmth. This should never be done, as the byproduct of burning is carbon monoxide, and without proper ventilation, it is deadly. Attached garages and poorly maintained fireplaces can also be the cause of poisoning, as well as improperly vented fuel-burning appliances, such as wood or pellet stoves.

While all dwellings are required to have these devices installed, owner-occupied single-family residences that were legally occupied before July 26, 2009, are not required to have carbon monoxide alarms until they are sold.

CO alarms must be located in the immediate vicinity of each bedroom or sleeping area, and on each level of the residence. This ensures that if CO gas is detected, the alarm will wake people out of their sleep, before the poisoning takes effect.

If at any time while in your home you suddenly feel faint, light-headed, get a headache or become nauseous, it may be CO poisoning. Make sure to open a window for ventilation and get outside as quickly as possible. If there are other people in the house, make sure to wake them, if necessary, and get them out of the house immediately. Then call 9-1-1. This deadly gas will eventually cause the victim to lose consciousness, and if the poisoning isn't stopped, eventually die. Children, due to their smaller size, are extremely vulnerable to CO poisoning.

Carbon monoxide alarms are available at most hardware stores, and can also be purchased online. The cost is typically around $25 - $35. Combination CO/Smoke detectors are also available. It's a small price to pay to save lives.