Hi all. I'm interested to see the Schedule 6 of the S&P. The S&P is standard document so most of the info is all in the Anex.

I agree with FH vs LH too. I dont understand why people worry about FH vs LS. If any building more than 90 years old. Maybe the government might even consider gazette it is heritage building. LOL

I just got a call from UOB saying my loan approved. MoF is 90% at BLR - 1.85. The only problem is it is normal term loan not flexi package. I enquire why is that so. But the Officer says for this project it is term loan. Not offering flexi package. Not sure with other banks as there are no news yet. I'm not sure why they are giving term loan but I notice something in the additional letter that the developer give for the 3 year interest free agreement. In the letter, clause 2 reads as follow:

The Loan shall only be obtained from the Panel Financiers and shall mean a term loan granted to the Purchaser pursuant to the terms and conditions approved by the Vendor and not any other type of banking facility obtained by the Purchaser to finance up to ninety per centum (90%) of the Purchase Price of the Parcel.

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Added on December 30, 2009, 5:59 pmI think the developer already discuss with their Panel Financiers on this interest free period thing. So to guarantee the banks make money for this deal, they can only grant term loan so we as buyer cannot prepaid the account fully thus making the bank lose money in the loan. Hope I'm wrong where other banks willing to give flexi loan.

This post has been edited by KChan: Dec 30 2009, 05:59 PM

That land quite small for hypermarket like Tesco and Giant isnt?

Among the five banks, which bank doesnt need MRTA? I do not intend to take any as I'm still single without dependant. If touch wood anything happen, they can well just auction off to recover any money lar.

Another question is, if somehow 4 or 5 years from now and I have dependant, then can I apply MRTA for the existing loan?

I just got my PBB. Rate is -2.00% and 5 years lock in period. Anyone got the same thing?

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Added on January 8, 2010, 2:54 amAnd also I got this clause:-

3. The bank shall bear all solicitor fess, stamp duty and disbursement fees in relation to loan documentation subject to a maximum of RM 25,000-00.

So does that mean I dont need to pay any legal fees?

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Added on January 8, 2010, 3:24 amNevermind, I just saw the cover page says its "free legal documentation package"

This post has been edited by KChan: Jan 8 2010, 03:24 AM

Do everyone apply the loan from the list of branch the developer gives? Or some of you apply at different branches?

I was there to pass my loan offer letter. Confirm this Friday 2nd phase launch. Starts at 10am.

The bank still receive interest paid by the developer.

Everyone, I would like to know if anyone of you apply the loan from other branches instead of the listed branch?

AbangCorp, you you apply at the branch from the developer list?

Anyway my unit is B3-xx-03A

This post has been edited by KChan: Jan 13 2010, 01:56 PM

Apparently the developer only make arrangements with the branch listed by them. The other branch do not know about such arrangement with the developer. How the developer deal on the interest payment is that the branch loan dept will kept all the loan for the financing for this project in a special folder. This particular branch will then forward the interest charges to the developer which then the developer will pay. On the other hand, if the bank do not know such financing scheme, then the bank will bill us the interest which the developer doesn't know about. So any penalty, we have to bear.

I had ask my loan officer to check with his branch manager regarding this, so he told me its ok. His branch will make sure they forward the interest statement to the branch which deal with the developer. So now can sleep better.

At first I was worry lar. But the developer really need better informed sales personnel. All of them can't seem to answer the questions correctly or everyone give a different answers. Aiseh!!! If this is the kind of arrangement, then the developer shall use the word "mandatory" instead of "encourage" to contact the panel of financier.

I did get my rate as BLR-2.0% and free loan legal documentation fees.

This post has been edited by KChan: Jan 13 2010, 03:24 PM

I got my loan from PBB

This is not my first property. But I have very clean record with PBB la. No account with them at all. Hahahhaa.

It is RM 0.15 + 10% for sinking fund. It's RM 0.165 per sq feet

This post has been edited by KChan: Jan 14 2010, 10:14 AM

No use appoint own lawyer when buying from developer. You still have to sign the standard legal (eg. SnP) from the developer.

You get own lawyer when selling or buying a secondary property. The buyer's lawyer will negotiate the terms and condition in the SnP with the seller's lawyer. So as buyer or seller, your lawyer will represent your benefits lar.

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Added on January 14, 2010, 11:07 amWhat is "sinking fund"?

Both Section 46 of the Strata Titles Act, 1985 and Schedule H of the Housing Developers (Control and Licensing) Regulations 1989 (amended in 2002) stipulate that the sinking fund (called "special fund") in the Strata Titles Act) be used to meet major liabilities of the strata estate.

Some developers collect this fund by way of governing documents, such as a Deed of Mutual Covenants, prior to the establishment of a management corporation for the development, while others rely on the provisions of the Schedule H.

Unit owners in a strata title development must contribute to this sinking fund, which is kept as a reserve fund to meet major replacement of parts of the common property.

The collection of the sinking fund should not be confused with service charges, which are meant for the general maintenance and management of the common property and for the other services the developer has agreed to provide.

As a building ages, parts need to be replaced and without a sinking fund, it will deteriorate. It is easy to understand this if you compare it with the maintenance of a car. Spending on regular maintenance such as changing the engine oil, filter and spark plugs, is akin to paying the monthly maintenance charge of the condo.

However, as car owners know, they will also need a reserve fund to replace parts as the car gets older and for unplanned occurances such as new tyres, a broken windshield, or even repaint.

This post has been edited by KChan: Jan 14 2010, 11:07 AM

My friend just book a unit. M type is about RM 255K

I'm not very sure, but as far as I'm told by my friend is that is the price. Still got the 4.5 years package. Comes with 2 lots of parking. Is at level 7.

The only thing new is the price and air-cond and shower screen.

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Added on January 15, 2010, 12:02 pmHeard about 9am there is alot people there already. The SA wont serve you unless says you prepare to pay the booking immediately.

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Added on January 15, 2010, 12:03 pmYour that price is the phase 1 price.

This post has been edited by KChan: Jan 15 2010, 12:03 PM

Phase 1 got 2 car park. Infact every unit has 2 car park. Its their concept.

I register www.1120parkavenue.com.my