i am not obliged to take up an other letter simply because i take it along. it's merely an offer to engage into a financial relationship. i can freely choose to take it or not within the timeframe stipulated in the offer letter.

the rational is this - in a simplified form -: for a loan contract to materialise both parties have to agree on terms. bank basically states their offered terms in the offer letter, if you accept, then its mutual agreement on the loan and it can materialise. if i choose not to take it, then nothing comes out of the whole thing. its like a supermarket sticking a price tag on it. this means: you can have this item under condition of payment of X RM. i take it and pay and the contract of exchange of goods has been materialised. offer letter is essentially the same thing, just with expiry because financial environment changes constantly so while i can get BLR -2.4 today i might only be able to get BLR +1 in two weeks time.

From the way u write, let me make a wild guess, u work for a bank????

My sister has recently applied a loan with a Bank with Tiger Logo the loan was approved, but the officer refused to give the letter of offer, until my sis signed the L/O, my sis consulted me, i explained to her about her rights as an bank consumer, we have the right to choose the best bank package, being given 14 days time allowance, we can compare the offers and package and choose the best offer, i asked her to sign first, and then get the L/O to other banks incase we need to do so. At the same time we ask the loan documentation lawyer to hold the documentation (once u sign the L/O, bank officer will advice the lawyer to start the loan documentation) by telling the lawyer that we are waiting the offer from other banks.

I know it is too crutial to do this, but the thing is the Tigers Bank's officer did the wrong things on the 1st place by forcing us to sign on the 1st place. As a consumer, she shd pass us the L/O and we are given 14 days to considered the offer.  Toger bank's offer is to request FD, a guarantor to guarantee the loan, and etc....my sis is lucky that other bank offer came in yesterday, and with 95% MOA, no guarantor/ FD required, plus good rate 3.75% fixed for 1st 3 years.....

The moral of the story is that the unreasonable mortgage bankers can only threaten the innocent customers that do not know their rights.