When I signed up for the loan, it was mentioned that it is zero moving cost, and if not mistaken stated in the letter of offer (I got to check this when i get back); now the lawyer says that the bank only pays them 2% of the loan amount and I have to pay the balance.

Is there such thing? What can I do about this?

Tried calling the customer care of the bank and they are checking for me with the loan department and will get back to me

ok...should check the offer letter...

it is a sub sale, so it is just the bank loan agreement's legal fees....

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Added on February 23, 2010, 3:47 pmchecked with the bank that the loan agreement fee borned by the bank is capped up to 2% of the loan amount, and my loan amount was too small...so i had to pay the difference....

but is that such clause?

This post has been edited by leongal: Feb 23 2010, 03:47 PM

i applied through a mortgage broker, who didn't inform me before this. So, I was abit shocked to find out.

My bank is OCBC, and the bank did not call and inform me about this. I only get to know when I called my lawyer to get some updates from them, and they told me that there was some outstanding legal fees. Then, I called the customer service, and then confirmed with me that they only paid 2% of the loan amount to the lawyer

This amount has to be settled before they proceed to title transfer?

Thanks for the advice people; yes, there's nth tat we can do at this stage, I blame on myself for not understanding well the loan package and also partly the broker who didnt let me know about this clause

I am paying the shortfall amount....I really learnt many unpleasant things from my transaction...

Thanks

here (get what i mean?)...i actually believed in karma cos initially he helped me; so i wanted to help him back.....but learnt my lesson (not sure if the person reads this, but hope he will learn to advice his future clients in a better manner.....yes, i am disappointed)

anyway, finally got back home and checked on the offer letter, it was stated there - and again, i blame my own ignorance of not understanding the statement and also still "blame" on the person not explaining it to me earlier....

yup, settle oredi....close one eye...

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Added on February 23, 2010, 10:18 pmactually many bankers/ brokers did pm me....but i choose him for the reason mentioned about...

the worst decision i ever made was believing that his lawyer was good after he said so (sorry if you see this, but i am just telling how i feel) I was NAIVE...

i dun care if the lawyer gives me discount or whatsoever, the most important thing is get the things done, which is the basics, and they are JUST not doing it.....it is the case where "I represent my lawyer and not my lawyer represent me"

This post has been edited by leongal: Feb 23 2010, 10:18 PM