Banking Secrets Revealed, Why Pay More?

Banking Secrets Revealed, Why Pay More?

To those newbies who is buying their first home, please read the Banking secrets revealed, why pay more?

Buying your first ever house is a dream come true for those yuppies. But be aware what the banking secrets revealed, why do you have to pay more during the time when you are not in a fat city. Especially those newly wedded couples with a shoestring budget, coping with the wedding expenses and furnishing their sweet home.

After a numerous viewing.

From one house to another house, finally, you settled with the new a single semi- detached double. Price tagged RM700,000 in a suburban area.  It is 5 kilometers drive from to the town central, your office just a stone away from the MRT.


Armed with all the necessary documents, both the couple goes to their favorite X bank for a 90% margin loan which is duly approval.

Mr. Y, the X bank manager give you the widest sincere smile, cordially invites the couple to his cozy private office.

“Mr. & Mrs.  So and so, it is the bank procedure requirement to buy a fire or house owner policy for your new house, since it is 90% margin loan over the purchase price of RM700,000, thus the sum insured will be RM630,000.00.  Please sign here on the dotted column.” the bank manager advised their client.

” Sure, no problem.” Mr. & Mrs.So politely pen on the dotted line.

” If you have any question about the fire insurance, please don’t hesitate to call me or my staff, I will be happy to serve you at all time” the bank manager affirmed the blissful couple who are on the way to Hawaii for their honeymoon.

Here are the questions for anyone to answer.

Banking Secrets Revealed, Why Pay More?

  1. Can the ground that erected your house can fire it down?
  2. Don’t be naive, who is the housing developer running on charity build the house without any profit?
  3. Do you move into to your new house as where the basis is?
  4. Not spending a fortune to have extensive renovation?

All the answers will unveil soon in my next post.

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Banking Secrets Revealed, Why Pay More? 1



6 replies to “Banking Secrets Revealed, Why Pay More?”

  1. Great post. I can’t wait for the next one. I really need information on this subject. Is this going to be a series? I just bought a house and have insurance but I’m really not that happy with it.

    1. Thanks for your eagerness to know more about insurance.
      My intention is to share my experience and knowledge I gathered for the past 2 decades.
      Yes, you can put as a series or a handy book guide.
      Everyone is not happy with the insurers dealing claim settlement. I am no exception, being victimized by an insurance company before.
      Glad that you have recently bought a house.
      Thanks for the comments, Mr. Doug Arthur.

  2. I think this could be a long and interesting series of posts, especially if it concerns dodgy banks.
    Thanks for posting.

  3. I think anything that makes clear the way in which banks sell certain products has got to be a worthwhile exercise. In the UK we have had what was called PPI – basically where the bank sold insurance as part of any loan or credit they gave you. It was all wrong and they have had to pay back large amounts of money to anyone they mis-sold to. Good to keep this information coming so people can be warned.

    1. Thus, there is a maxim goes. ” Let the buyer be aware” In fact, when the bank makes mistakes, the consumer has to bear it. It is very unfair. Thanks for reading and comment on my article.

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