Right and I agree that most banks are kiasi while some are malas. 
I told OCBC bank officer that I'm waiting for other banks offer.  He immediately did his job in a week and gave me the best loan they can offer

BTW, I regret going to Citibank for home loan.  Made me wait almost an hour (twice!) and I have to chase the officer on phone calls about the status of my application.  When they called me after 2 weeks, I told them I don't like to deal with lazy people anymore.

Hope the lawyer will revise the S&PA soon   Not going to sign it if the property value is shown instead of selling price. 

Thanks all!

I don't know why the lawyer stated 110K but they said, the bank told them so.  I told them to look at the S&PA of the seller that also have selling price from developer in the S&PA and not the seller's loan amount.  The lawyer was assigned by the bank and I was not given a choice.  They are OK to talk with though.  Hopefully this document will be revised before the schedule to sign.

That's what I thought about Citibank as well which is why I consulted/applied to it first (before applying at Maybank and OCBC).  Yeah, could be the branch or the officer only but they wasted my 2 weeks.

Sorry, I'm first time buyer so I'm still confused on rate the banks is offering.  The offer letter says, Term Loan - (a) BLR - 1% pa on monthly rests.
Is that the rate you are referring?

as a buyer, you have the right to choose your S&P lawyer; only you got to stick to the bank's panel lawyer for loan agreement

Thanks for the info, leongal. Was wondering myself after I signed the offer letter (wheteher I need to get a lawyer) but the bank officer said "The lawyer will call you for S&PA and loan agreement and other verification thingy to be handled by them".  So I waited, in 3 days the solicitor called and advised me of their fees and documents needed (just my IC only).

I guess, it's late for me now to bring this on to another lawyer (except and if, they won't agree to state the selling price in S&PA).  I hope I don't have to do that as I want this done soon but properly.  Thanks again

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Added on April 1, 2010, 1:25 pm
That's possible? I did not know.  I thought.. once we signed the offer letter.. the deal is done
Now I know it's possible to cut the deal if I have not sign the loan agreement.  They need to revise the S&PA then.  If they won't, no more deal even if I like the property soon. 

Thanks again for the advise 

u r wrong, as long as you didn't sign the loan agreement you are not tie up with them, no contract sign, you still can reject their loan. Don worry you wont bear any monetary consequences. This is your legal right!

Thanks again everyone!

The lawyer and the bank agreed to display the selling price in the S&PA.  They explained that the reason to put the loan amount is to lower the stamp duty fees and to show the real value of the property.  They understood though my concern so all is well now.  The lawyer will amend the S&PA before the seller and I will sign

Many thanks again!

Joey85, glad to know that there is another bank that have lower BLR.  I guess, I'll pass now because of the time spent in this purchase has put my energy somewhere already LOL
Now planning to do renovation and might apply for Personal Loan to other banks or Home Xtra by OCBC.  Will see if Affin will be able to provide such loan with great rate too.

dun be too excited yet; there's still a long way to go; what you need to do - is to monitor your lawyer closely and get them update you on the progress (most of the time, they won't call you, so it is better if you take the initiative to follow up with them)

congrats too...

Noob Question
10k d/p need to pay to vendor or lawyer?

looking for housing loan too. i need to pay 10% from 150k n
i got 15k rite now. but dunno  to whom i need to pay d/p to

Thanks again to all of you who replied in this topic.  I'm indeed excited
Hopefully I don't have to chase the lawyers after signing of the S&PA but they are updating me so far on needed documents.

Many things on my head right now .
Renovations and I'm also thinking of taking advantage of Account 2 in EPF to recover some money I'm paying for this purchase (10% payment to seller, 4.1K to lawyer).  I need to wait for S&PA and loan agreement to be signed, I believe.
Also the MLTA or MRTA.  Not sure which to get yet.

joey85, your procedure is the exact procedure I am doing or was asked to do.  Booking fee is made to the lawyer then the rest of the deposit is to be paid during signing the S&PA.  That's what the lawyer told me to do.  Paid and will pay by cheque too so it's black and white, they said.

Now u need to monitor the process makesure they don pay your developer or seller late otherwise you will be charge interest of 10% per annum. Remember to protect yourself by writing them a letter stating you will not bear to pay the interest in the events of late disbursement due to their mistake - bank & lawyer. 

no use la...i could not argue for my "rights" at the end of my property transaction and i got to pay the late penalties despite their faults (both seller's and buyer's lawyers)

u didn't try hard enough! why u didn't enforce your right according to your  S & P ?

give up on them! treat it as a lesson of my life! thanks anyway 

maybe ur word not "LOUD" enough tats why they get away   

Noted that, Tohsan.  Thank you again for the very useful advise
I will make a letter today and will give it to lawyer and bank on Monday.  Monday is the day of signing of S&PA.
Sorry to hear this, leongal.  Now, I will make sure the letter that Tohsan has suggested will be done today and received by them on Monday (in case, something is screwed by them or error/mistake at their end).  Will give the seller a copy of the letter as well (just copy).
It makes sense.  I am used to paying anything online or online transfer and seldom use my cheque book but now, there is a usage (legal matters)
Good idea to photocopy and make them sign a receipt of it