No, i didnt sign any yet..now choose between PBB and UOB...PBB gimme -1.85 only...PBB bonding time is 8yrs..lock after full drawndown...it means 3+5 lor..not flexi plan...HomeSAve only consider flexiplan...

erm...she's promoting home 10 for me...different plan is it? she give me 1.9 wor

Same..mine also Home 10..

erm...tak tau la....i am confortable with the terms....so, i will probably take pbb.....8 years is not a prob for me.somemore, we until now, we dunno whether first disbursement is equal to full disbursement or not

Btw, how old are u?u took join financing?

erm i am 29, turning 30, yup, join finance with my hubby.....i have loan with sc and hubby have loan with hlb, basically, sc is monthly rest, so, really not a good option....for hlb, if they arent providing good rate, better dun take from them....not recommended. just personal opinion

Anyone went to the site recently? Any progress on the site?

I will go there next monday. Will update you guys.

lawyer call me and informed me HLB is not the developer panel bank again..

Some thing Bank not allowed developer to absorb the interest!!

then i think i will sign pbb liao

Why PBB?

they offer me blr-1.9% and i am comfortable with pbb term...i dun mind locking in for 8 years.

uob counter offer just now, giving me blr - 1.9% as well but i think i will stick with pbb

hi, UOB only offer me BLR-1.85%, can u share me your UOB letter offer to me? i wish to get counter offer from UOB too, since HLB is not panel d.

Dear all,

To resolve the doubt of first disbursement = full disbursement:

For under construstion property, the way that bank releases money to the developer is according to the progress of construction stated in the 3rd schedule in s&p. First disbursement starts when the day that the bank pay the first payment to the developer. IF u r financing 90% loan, after the 10% downpayment, when the bank releases the following 10% to the developer, it starts the first disbursement date. Thus, lock in period starts from full disbursement is a disadvantage to investor who intends to sell the property after completion. coz by the time bank fully disburse to the developer could be in 3 yrs later, by then ur total lock in period will be 8 yrs. Unless u willing to pay the penalty charged.

Completed property has no progressive payment like the under con property does, so the first disbursement will be the full amount of ur loan financed. Thus, first disbursement also equal to full disbursement.

Regarding loan offers, guess below are the things that u may need to put into consideration:

- interest rate, of course (however every bank almost offers the same rate. a minor 0.05% makes no different if u r taking flexible loan or the bank loan allows u to do prepayment to offset loan principal)
- lock in period especially for investor. (thus personally i think pbb is not good for investor unless u foresee the property wont sell in 8 yrs time)
- service. u never know when it comes to disbursement. some banks tend to delay in payment. If the bank late in releasing money to the developers, not dev but u r the one who bear the late payment charges. (personally im willing to pay slightly higher interest for a better service)
- Hidden cost. fyi, pbb has a lot of charges like rm 75 land search and blah blah blah.
- forget about interest rate change to BLR plus 2% or 3% for the default payment unless u really think that u hv such potential in defaulting ur installment. THis is standard clause la.. every bank applies.
- Loan tenure in fact, the longer the better coz eventually u may do prepayment to save interest while lower down ur monthly commitment. It helps in ur next loan approval.
- withdrawal flexibility and charges unless u really utilize the facility (eg. pump in ur salary to reduce interest) especially for those business owner, otherwise dun worry abt the withdrawal charges la...
- daily rest/month rest it makes a lot of different

Abt MRTA/MLTA.. whether its mrta or mlta or mtta or mdta or wutever a... it's all life insurance but describe in different terms only. All insured the same things, death and total permanent disability. Wut we concern is on the surrender value and the beneficiary. If u were to take mrta from the bank, of course bank will be the beneficiary coz ur property is their security. If any happen to u, insurance institute helps u to pay for the loan. Bank wont care abt u but the money. and its not transferrable if u refinance the property coz by tat time the property is no longer their colletaral security, who cares if u need to purchase a new policy with higher premium. For those who can affort, mlta really better than mrta.

Talking abt the HLB issue. There is no surprise if the law firm claims that hong leong is one of their panel coz this means that particular law firm can prepare loan agreement for hong leong bank. But whether or not Hong leong acts as the end financial (panel banks) for this project, that is another story. Hong leong can be the law firm panel but not necessary to be 1120 PA's panel bank. If it's not under the end financial listing, u may not enjoy the promotion!


Thanks

This post has been edited by xiaopygu: Jan 7 2010, 06:53 PM

add me AbangCorp
My unit is B1-0X-09

disbursement indeed the percentage stage

10%
and so
and so

first disbursement is 1st 10% completion

full disbursement is 100% completion

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Added on January 7, 2010, 7:38 pmdone, pg 30

This post has been edited by AbangCorp: Jan 7 2010, 07:38 PM

Beside it ia constructing a petrol station....

This post has been edited by 211445: Jan 7 2010, 08:46 PM

the 1.9 is verbal oli...i dun hv letter offer showing 1.9

is any1 taking ocbc loan? wondering y no1 use it? i get -1.85% for 90%loan. no need to buy MRTA

my unit no B1-xx-02
pls add me inthe list too

ocbc do work darn slow!

when u can get letter offer?pls update u