is not me said that... im just asking for advice here....

hope this topic grows, and anyone got any news can update here..

i also heard ppl say i dun knw also... haha

Any charges if apply loan for 40 years but change it to 35 years after that? Anyone experience this?

Bro, which floor u bought? Cause Phase 1 E2 i bought MAX height is 14.....

Good that this thread is active back again..

I will never use the word cxxxx, as this can get into trouble with the bank.

IMO, beside the bank itself, it is also the bank employees who handle your loan make
a lot of difference.

It can be from how much they explain to you on their T&C, legal arrangement, followup with your
application and documentation and appeal for lower rate and waiver of requirements like MRTA,
one more, how effecient they release your loan to the developer.

My experience with the bank, you need to monitor and follow up closely. One of the bad experience I had
was the bank claimed they have release the money, but the developer has not received it yet.
So ended up, I pay both side interest - paid Developer for later payment and paid bank for progressive payment
to no where and dont know when. Paid double interest for 3 weeks.

If you monitor closely, you probably can avoid paying double interest. Best if your banker pay right before
the due date. (very hard to achieve).

Does anyone how much roughly do we need pay for the progressive interest for the first 3 years for a 300k loan?

around 20k i thnk

Wow, never know it is such a huge amount just for the interest one year rental also cannot cover that

I think I've made a wrong choice of investment, this is giving me negative cash flow for the first three years.... should invest in sub-sale condo with tenanted instead

This post has been edited by echoesian: Apr 6 2012, 04:13 PM

hi im new in tis parklane...
is it good for investment is service apt?
4000 ++ unit total...
how abt the entrance?
is very high density....
advice pls ..

Just put in all your extra money to offset the interest.

No you can't, for UOB, in the first three years, you only can put in more cash if the construction is at least 50% completed

Are you sure? I'm also taking UOB, never heard of that. Currently I'm offsetting my interest for the MRTA paid under the same account.

You already started servicing interest?

Yup for MRTA premium paid by the bank.

Which phase you bought? When did you sign the S&P?

B1, signed few months ago.

First time invest?

This is how its calculated if no DIBS was given.
And not necessarily buying subsale is better than undercon, there are pros and cons.

Undercon projects speculates more and uncertaintes will be there before VP.

If you bought it during earlier phase when it was <300k i believe it should be safe. But if you are buying the latest phase where its commanding more than 360psf, i believe the risk is very much higher.

Such a dense built up with such high psf price seems like a desperate move by the developer to rake in huge profits for the last few phase.

Surroundings are not that desirable, high psf but due to 950sf unit gave an impression of 'affordability' price to buyers, dull design, facilities that could hardly even cater for more than 30% of residents, are one of the few points that puts off my interest in this Project. (no offense to the owners/buyers)

My humble 2c

Depend on there floor you purchase, higher floor should lower interest, i believe is < 10k. for me first time invest in Condo, my previous all are landed for appreciation.

In today market, if can cover interest for first 3 years, it should be good enough. tenant pay interest, you pay principal.

for me since booked last March and signed the S&P till to-date, only 10% payment so far, no interest yet.

My understanding is UOB allow to pay interest only during construction period. Any extra just pay off other higher interest loan.

Remarks.It always good to purchase phase I/II for big project. Last phase you need to pay for the premium.

I heard that left 3 banks only now . RHB , AMBANK , UOB

All others bank hit quota. I feel quite weird about this.