The Best Home Loan Package At Your Fingertips

Buying a home is a life-transforming event in terms of financial and social commitments as well as status.

Choosing a financing package for the purchase can be one of the most stressful and important decisions in a persons life.

As you embark on one of the biggest financial decisions you would ever make in your lifetime, it is important to be aware that where home loan packages go, many things are open to interpretation, and sometimes the consequences of an uninformed decision could prove dire.

Getting it right the first time can save you thousands of ringgit. Otherwise, you may find your finances strained as you travel further down the long and winding road of home ownership.

Shopping around and comparing notes is an indispensable part of the search process. But looking for that gem of a deal that suits your requirements to a T can be a daunting experience.

Bombarded with an onslaught of innocuous acronyms and impressive financial jargon from over 500 different home loan packages offered by over 30 lenders in the country; even the money savvy can be overwhelmed.

For the layperson that lacks the depth in financial techniques and knowledge, it would be a Herculean task to separate the wheat from the chaff, from the torrent of information available to determine what is right.

Many among us would welcome a little help in this department before we feel comfortable enough to sign on the dotted line.

Wouldn't it be great if you can talk to an experienced financial advisor or consultant who listens to your needs and is able to proffer an unbiased opinion on the pros and cons of the different aspects in home loan packages, and determine the one most suitable for you, at no extra cost?

HELP AVAILABLE AT YOUR FINGERTIPS

The discerning consumer will be elated to know that such services are indeed available at your fingertips.

Incorporated in Malaysia on Oct 16, 2002, Capital Tree Sdn Bhd (Money3) provides the consumer with relevant up-to-date information on all home loan packages offered by financial institutions in the country.

"A home loan is a financial commitment that changes one's entire financial horizon. Being laden with a home loan will dictate how you manage your personal finances thereafter," Money3 Senior Partner, Martin Chow told Bernama in an exclusive interview recently.

However, according to Chow, in accessing their eligibility for a home loan, borrowers invariably will only take their present financial position into consideration.

But the stark reality is that a person's financial position is hardly ever fixed and yet, most of the time, a very important and substantial financial decision is made based on a very narrow parameter.

In the mid to long-term, a wrong type of mortgage works against that persons financial health.

Presently, so long as the monthly repayment does not exceed a certain percentage of their monthly income as predetermined by the lender, most will be happy to accept the loan.

"Borrowers almost always never take into consideration contingencies like future increase in the base lending rate (BLR), hiccups in cash flows created by unforeseen emergencies or the probability of losing one's present job.

In any case, most if not all hardly ever take into account the impact of the home loan on their ability to adequately save for future expenses such as their children's education and the ultimate need for medical and surgical attention," Chow said.

The reality is that even small changes can have significant effects in the web of life.

One should always be prepared for the unexpected and have workable alternatives at hand for such eventualities. It is to one's best interest not to throw caution to the wind and eventually end up as victim of one's ignorance.

"Most people do not factor in these considerations because they do not know how to," Chow explained.

INDEPENDENT AND UNBIASED ANALYSIS

Money3 specialises in creating computer software and developing financial programmes as tools for analysing monetary and loan packages and services tailored to local economic environment.

Launched in February, the company's website at http://www.money3.com.my/ is the conduit for a convenient way of applying for home loans for the Malaysian consumer and provides such information free of charge.

The website is constantly updated with accurate and truly independent real-time information on the latest home loans available, as well as tools such as calculators for the consumer to use and sort things out, in deciding which package is best suited to his or her requirements.

Money3's multi-level online Loan Search programme allows the consumer to factor in what one is looking for in a home loan package.

Once all the input has been entered, the system will filter through every home loan package available in the country and produce an independent and unbiased analysis of the Top Ten list of lenders, based on the parameters given.

"Our experienced consultants can also provide either over-the-telephone or face-to-face consultation to chisel out workable compromises that satisfy your requirements but at the same time does not burn a hole in your pocket," Chow said.

CLOSE COLLABORATION

Money3 work in close collaboration with several banks - local and foreign - on issues relating to product development, creating sales channels as well as distribution and outsource functions.

These banking institutions have initiated proactive measures by providing information and data support, and are even prepared to factor the company's input into their financial products, all in the name of providing better quality products with faster turnaround time and at a cheaper rate.

"Our partners recognised the fact that as more and more people become aware of the need to develop an aptitude for personal financial planning, they will become better quality customers. Consequently, the propensity for non-performing loan (NPL) diminishes," Chow explained.

This meaningful teamwork and fruitful cooperation has resulted in a cross-pollination of ideas that have opened the floodgate for progressive financial software that will be incorporated into the company's website.

UNIT TRUST AND INSURANCE PORTALS

Liabilities, with a little ingenuity, can be turned into assets. Conversely, assets left to deteriorate and not improved upon, can eventually become liabilities.

Thus, in the ever-evolving world of personal finance, the customer has all the right to expect financial consultants to know more, do more and advise more.

Congruent to such expectations, Money3 will, in the coming few weeks, be rolling out its Unit Trust and Insurance Portal.

In any investment, situations and circumstances can change at the blink of an eye and may require a reversal of decisions made earlier.

The prudent investor should always monitor his portfolio and take decisive actions to stay on top of things.

Everybody would at least know of a person who, as a result of injudicious investments and a cavalier disregard for financial management, has been left with nothing but the shirt on his back.

In recognition of this fact, the Unit Trust Portal has robust safeguards like monitoring, weekly performance report and red-flag functions to allow stopgap measures to enhance gains and prevent losses.

The primary objective of www.money3.com.my is to provide Malaysian consumers with critical up-to-date information on all the financial products available in the money and capital markets, so that they can exercise their freedom of choice in making well-informed and financially savvy decisions.

For the purposes of communication and illumination, such proactive features on the company's website would transform consumers from merely being passive armchair participants to assertive investors.

"The Unit Trust Portal is designed to empower the investor to make informed decisions in different economic environments, critical to minimising investment risks, rather than rely on sales pitch and hearsay advice.

For the professional agent, this portal is set to be the best friend in providing top-level service and added value to their clients," said Chow.

Money3 will soon spread its wings to East Malaysia and is also presently speaking to interested parties in various other states in the Peninsular, with a view of expanding the company's products and services there.

"Ultimately, we want to be the go-to place for those seeking home loan packages and investment opportunities," Money3s affable head honcho declared with spirited enthusiasm.

With over three million hits a month, and growing by the day, that time may not be long in coming.


Source: Money3.com.my