Thanks which branch was it bro

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Added on December 31, 2011, 10:22 pmThe developer should talk to bridging financier to consider the loan for the buyers, but the bad part is if the project fail ,the the bank payment you need to continue and they don't have feelings for only their money

This post has been edited by Fabio1: Dec 31 2011, 10:22 PM

Go for HSBC full-flexi, their service is fast and professional as u will know month instalment amount and amortized instalment schedule immediately upon meet-up with HSBC banker.

But still 80% only

When the End financier only give out 80% loan MAX means the property is over priced based on the bank's valuation, so GL to all

You are right how do we go about this , most of them will get stuck, and there are so many ? pending

will buyer release the units or get another 50k for Dp?

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Added on January 1, 2012, 11:18 ami dun think that being generalized.... individual financial also do a play in determining your MOF... so which is which we dont know... maybe banks start to practise more stringent guideline...

This post has been edited by twincharger07: Jan 1 2012, 11:18 AM

True, sampling size is inadequate for a conclusion. If we have equivalent data for Palace Court, Le Yuan and so on, then we know for sure.

I think a lot ady get the approval. We feel that lot of ppl can't get the loan, coz we keep discuss this issue. Actually ppl dun get the loan here, is really because of margin or income not strong.

If income ok, then submit to 6 banks, sure get 1 bank 90% margin

I applied the loan on 27Dec (Tues) with HSBC, their process very fast. The banker submited on the same day and already get approval on 30Dec at board rate -2.3% with 5years lock in period. The banker said my loan application should be no problem and currently she appeal for -2.4% with 3years lock in period. I know this is bank general practice, got normal board rate first then appeal to better rate, same goes to UOB and other banks. Hope I can get good news by next week.

However, for those submitted after 29Dec or 30Dec, maybe it's too late for banker to submit to HQ as the new conditions will be inforced 1st Jan, where loan application based on net income apply.

Anyway, wish everyone here good luck!

This post has been edited by yuki0003: Jan 2 2012, 01:37 AM

So u got submit to other bank??getting 90%??

Haha well thats the fact not u think lol... if so coincidence then most of the ppl here won't get 80% but 90%.

I would think individual financial is the most important in this. If you are earning 15k per month with less commitment, i believe the bank will give you an offer even if the property is overpriced. Moreover we all apply the loan at year end, it might be possible some banks already hit their quota or target, so they have their rights to offer only 80%.

Anyway I applied HLB, MBB and HSBC and get 90% from MBB and HSBC whereas HLB offer me 80%. For those who have not get their loan, go for HSBC as they are fast in processing and the most important is full flexi loan.

Agree with u. Year end normally all the bank hit the quote ady. So they are not keen to do the loan.

is not only income but also other commitment and repayment performance.... those who like to pay the minimum for credit card, most likely the financial profile can boil soup liao...

Sorry la. This year end different. Many cases to process or submit before new ruling take effect
Sure banker want to do ur case

Credit card Js paid minimum still ok. If din paid 1 mth, it shown "1" in CCRIS, 2 mth show "2", bank still accept 1, some bank still accept 2.. But 3 then sure reject. But if housing loan or car loan got "1", then some bank maybe will cut the margin.

I already passed all my documents to The Leafz developer earlier about mid of Dec. I request to submit my application to CIMB, UOB, and PBB. CIMB banker contacted me the earliest, while UOB banker called me only on 28Dec, after I decided to look for HSBC myself.

So far, only HSBC revert to me the latest outcome. No news from CIMB yet. According to HSBC banker, is 90% margin. However, all these info is given verbally, yet to confirm until I get their LO.

This post has been edited by yuki0003: Jan 2 2012, 01:50 AM

Hi. Actualy u guys should ask the banker what is the max margin the bank can offer for this project.

Many of u above are guessing why only approved 80% but not 90%.

Yes. Individual Income plays a big part. Debt ratio must less than 50% or 70% for individual and 80% or 100% for self employed. Repayment is also quite crucial. For CC, to pay minimum payment is fine but make sure the outstanding don't have 80% of the
individual card limit.

However, I would say that, a bank would analyse the project pricing and the developer background. If big timers, no matter the pricing is 10-20% higher than market project indication banks would still finance up to 90%

For less well known developer and if the pricing is 10% higher, the bank would offer max 85% or max 80% for the loan financing, regardless how good is ur income.

Especially for high rise, most banks would scared. OCBC normally offer max 80% in this situation or no financing. Alliance 80% or 85% or no financing. UOB good, either 90% even pricing is higher or no financing. If CIMB and UOB not finance the project, I would probably worry to buy it bcz their end financing are the most less strict.

However, as BNM putting a wave and 2nd wave after 1st Jan where effective income would base on nett income or income penalty, banks are normally strict at this festival period. Moreover, they are calculating the 3rd or 4th quarter target and profit. So, I would say banks will do something after CNY to boost the approval. The biggest problem is, would BNM come with 3rd wave of lesser commitment in order to approve the loan.

I would always point, this is not the way to control the property bubbles and only affect the first time buyers and smallish investors. Just my six cents thought.

anyone went on saturday to clarify certain issues with the developer?

Maybe the developer's profile ain't strong or the price is expensive so couldn't get valuation, that's why UOB, PBB & OCBC max margin is 80% regardless of income profile.

I had to contain my laugh when I clarify a few things with developer sales over the phone regarding EF bank not able to finance 90%. I said what's the point PBB giving out good rates (1st yr - BLR-2.5%, 2nd & 3rd yr- BLR-2.45%, thereafter BLR-2.4%) but only finance 80%, she said "yeah lar, since they offer so good rates, of course finance 80% only lah". I'm not gonna mention the staff name here. What a joke, using such excuse as an easy way out.

Agreed!