betul betul....i read the offer letter again....prepayment is treated as advance payment and not principal reduction.

yep, but the sa keep confirming with me prepayment will reduce principal.
the tnc stated clearly like the above. How arr???

Bros...is RM50 per withdrawn....min Rm2000....increment in 1k.

Mean you take RM10k also RM50 only....RM2k also RM50.

For prepayment, read clause C:

Prepayment before bonding period (5 year)....of coz only reduce the interest and consider as advanced payment (coz bank wanna earn money from u)
Once 5 year bonding done..u can pay all and exit.

U guy sign the letter without asking this kind of question? All the bank is same la...that why they call it bonding period...to prevent you settle fast.

Get your fact correct first before putting here...don't bring misleading information and use the word...hey, that what I heard. Bank is handling money...everything must be black and white.

Gosh...


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PS: My taking UOB...1.85/1.9 is only few hundred different down 20 yrs and I believe I could have settle it much earlier. Plus, this is the only bank that offer my 90+3% loan (I include lawyer fee + MRTA) with 40 yrs repayment.

Anyone that have reliable information to share on the surrounding area? especially the smell and traffic info.

This is only applicable if ur prepayment is more than 50%. If ur prepayment is less than 50%, no advance notice is required and it will deduct from ur principal. It is clearly stated in Part C

SA? U mean u take loan from the Peter guy?

Prepayment will reduce principal....that correct...once the bonding period end.

Take UOB example...

first 5 year, is bonding period....you pay...will not reduce principal...if u want to reduce...1 month notice and full settlement (pay all) and get charge 3% prepayment fee.

After 5 year, you can start reduce principal by giving write up notice (fax/call/etc) to bank 1 month earlier and you can pay whatever u want to cut principal.

Get it?

A bo you think Bank earn what? If you finish pay within 3 year....few hundred buck from u? after lending you so much money?

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Added on January 5, 2010, 11:44 pmU sure?

What clause C(ii) said is different from what you say:

After the bonding period, borrower may fully prepay the loan if borrower giving 1 month notice, or else they will charge you 1 month inrerest in lieu (mean without) of such notice.

Your loan offer letter stated differently from other?

This post has been edited by EVA01: Jan 5 2010, 11:44 PM

I have 4 apartments under Peter Brickworks (2 at PJS One, and 2 at Senja Damai). Since last year, I've sold the Senja Damai units and 1 unit of PJS One. Have stayed in this area since 1998, first 3 years at Sri Manja Court and the rest at PJS One. The area is cheap to stay but has "poor" image. Crime is high (Canny Ong and Nurin happened in the vicinity), having experienced ragut myself. 1120 PA is located at the junction opposite the old 4-storey shoplots and behind Peter's new shoplots. Traffic is ok, but plenty of mat-rempits. I have a feeling that 1120 PA condo should be facing the big mosque, so expect prayer-noises. Guys, please note that opposite 1120 PA condo, there're the old terrace houses and behind them is a play-ground. Further down the play-ground are a couple of rows of double-storey houses by the monsoon drain. These double-storey houses were rebuilt 2-3 years back by the developer (not Peter's) because they were sinking and cracking. Old mining land.... in fact the shop-houses opposite these double-storey houses are also sinking. I hope I don't offend anybody with my comments made in good faith.

Are you sure about that? From what i know, the principal can be reduced even during 5 year tenure but the principal cannot be reduce until there is none to pay in this 5 year bonding period. For the RM50, i hav ask the bank officer and it will only impose if you want to withdraw whatever extra money that you put in to cover the principal. Thus if you withdraw, the principal will increase back on the same day and interest will be based on the increased principal. Correct me if i am wrong.

sorry la bro
i always reply on this thread to make it happening, so anybody else will reply also
feed info

if wrong tak pa la, i always put correct me if im wrong
i guess reply too fast


i dont take uob without signing, i took pibb instead
bfr-1.9, zero moving cost & mrtt



why i touch this matter, because it is daily rest
so very different, not all ppl are going into settle fast kind of thing

add another hundred, and then occasionally few thousand

if you get what i mean


you put gosh there, i interpret it as 'stupid'
i am a lil bit upset by that, but what to do
you have your own finger and keyboard



the second part, i think you need to compare apple with apple
20 years with 20 years, then the different will prevail


This post has been edited by AbangCorp: Jan 6 2010, 12:19 AM

U have misinterpreted the clause. Full prepayment is after the bonding period. Less than 50% is allowable and could reduce the principal.

Agreed with estherlo. i think eva01 is confuse on the money disbursement. If the bank haven't fully paid to the developer ) as developer will progressively collect money from bank based on the building progress, yes we can't even reduce the principal since the money have not fully disburse by the bank to the developer. Then the clause C(i) will come in (AFTER full disbursement).

After the money is fully release, we can reduce the principal even during the 5 yrs bonding period but we can't reduce until less than 50% of the total loan (clause C(i)(3))

After 5 yrs, you can do whatever you want. You can either stick to the loan, settle in full with 1 month notice or remortgage your property with other bank without penalty imposed.

Check through my previous post to compare the estimation BLR saving vs bonding period penalty. Then you will think -1.9% vs -1.85% not much different around 2-3k only.

If you plan to sell within bonding period, then go for PBB. If after BP, then go for UOB.

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Added on January 6, 2010, 1:39 amFor UOB I'm sure any cent paid to the account will deduct the principal immediately. (Meaning interest only calculate daily on the remaining HL)

Here I go... this is what my CO gave me on the loan summary:

1) Interest rate: blr -1.85% with daily rests. ( Excess payment amount will deducted from principle, the interest charge on the balance of principle with daily rest).

2) blr +2.25% if 2 months in arrears. (2 months not made any prepayment)

3) blr +3.5% if 3 months in arrears.

4) Prepayment:

- prepayment amount will be effected AFTER full disbursement.
- 5 years lock-in period of first drawdown.
- prepayment amount can't exceed 50% of loan amount for first 5 years, otherwise 3% penalty on excess payment.
- 1 month notice if prepayment amount > 50% of purchase price (if you wish to pay). <-- If you didn't give notice then any amount exceeded will be charge 3% penalty. If you give notice then the exceeded amount will be treated as advance payment will use to pay of your montly prepayment.
- 3% penalty of original loan amount if you wish to refinance/ resale/ fully settlement.

Redrawing:

- min RM2,000 & multiple of RM1,000 (e.g.: RM2000, 3000, 4000, 5000.....) on your excess payment amount, with 1 week notice.
- the redrawn amount will be credited on saving acct @ current acct. (If you wish to open acct with UOB).

5) Other charges:

- redrawal fees: RM50 per transaction.
- RM5 for cheque issue (for redrawn purpose, if you do not open acct in UOB).
- cancellation Fees: RM2,000 (after accept UOB OFFER LETTER).

6) Other: MRTA are OPTIONAL.

Hope it's clear all the doubt for those who decide to take UOB.

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Added on January 6, 2010, 2:42 amThanks for sharing and I'm sure KLCC also started with a poor image and cheap to stay area.

This post has been edited by king4891: Jan 6 2010, 02:46 AM

for compounding interest
islamic loan is more superior

the rate is according to their saving account / fixed deposit dividend which is currently just around 2.5% pa
this is why islamic loan is getting more popular

pbb charge bankruptcy fees- RM75 per applicant and stamping fees for standing instruction RM 10. UOB got charge this charges upfront?

oh, you already registered with the bank
for your approved loan?

my offer letter also says that i need to open an account with public bank
and standing instruction as well

This post has been edited by AbangCorp: Jan 6 2010, 09:10 AM

i havent sign cos there's hidden cost apply....i am still comparing between uob and pbb

you took zec/zmc or non zec/zmc

non zec ( i want to pay legal fees and mrta myself)

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Added on January 6, 2010, 9:49 amuob got hidden cost?

This post has been edited by iceanise: Jan 6 2010, 09:49 AM

i do think bankruptcy search is under legal fees
they charge you around 1 thousand for disbursement fee in loan agreement
including bankruptcy search

the girl say want to collect upfront?????

who got ocbc detail statement
it does reflects all including 75 ringgit only cost for all legal fees

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Added on January 6, 2010, 11:42 amLets make sure our condo finished on time

1 – graneon pg 1 post 16
2 – legolas pg 1 post 19 B3-XX-XX (facing west)
3 – 0106127 pg 2 post 22
4 – ethan99’s friend pg 2 post 23
5 – ethan99 pg 2 post 26 B1-XX-XX
6 – ausmat pg 2 post 31 B1-XX-XX
7 – borebby pg 3 post 46
8 – cheraspeople pg 3 post 48
9 – limyusiong pg 3 post 54 B1-09-XX (L unit nr 1, 14)
10 – gstrapinuse pg 3 post 57
11 – legolas’s friend 01 pg 3 post 58 B3-15-XX
12 – legolas’s friend 02 pg 3 post 58 B3-16-XX
13 – colt45 pg 4 post 61
14 – aliciaqsp pg 4 post 69 B1-12-06 (s2)
15 – klkow pg 4 post 70 B3-XX-XX (S unit nr 2, 3, 4, 5, 6, 11, 12, 13)
16 – sk00 pg 4 post 76 (m unit nr 7, 8, 9, 10)
17 – iceanise pg 5 post 81 (m unit nr 7, 8, 9, 10, facing east)
18 – sarsi00 pg 5 post 87 BX-11-XX (l unit nr 1, 14)
19 – trextan pg 5 post 90 B3-XX-XX (plan to release unit)
20 – juneodue pg 6 post 107 (plan to release unit)
21 – dxt pg 6 post 118 B1-07-08 (m)
22 – brianchinh pg 7 post 123 B1-04-07 (m)
23 – limwc78 pg 7 post 133
24 – 20yrsinsrisentosa pg 7 post 135
25 – misnail pg 8 post 148
26 – cambede pg 8 post 152 B3-14-XX (s unit nr 2, 3, 4, 5, 6, 11, 12, 13) released
27 – mzmz --> abangcorp pg 10 post 190 B1-15-02 (s)
28 - estherlo pg 13 post 250 (assumption)
29 - raymond2451 pg 14 post 263 (M unit nr 7, 8, 9, 10)
30 - king4891 pg 14 post 264 B3-09-13A (L)
31 - ntick pg 14 post 279 B3-XX-XX
32 - ntick's sister pg 14 post 279 B3-XX-XX
33 - fiecks84 pg 15 post 295 B1-0X-09 (M)
34 - oucheev pg 19 post 375 (assumption)
35 - kornflake pg 19 post 380 (assumption)
36 - nmt170 pg 20 post 383
37 - EVA01 pg 31 post 606 BX-XX-11
38 - alexlean pg 33 post 658 B1-xx-02
39 - chris lee pg 34 post 665 B1-XX-13A
40 -

i manage to collect up to page 20 of this thread
will do again once have courage

This post has been edited by AbangCorp: Jan 8 2010, 07:15 PM