Hmm.. just talked about types of loans and stuff like that and submitted my documents to him.

Few important points (at least to first time owner like me la..hehe):

1. Since BHL is offering DIBS with selected banks (UOB being one of them), we can only opt for Semi Flexi Loan. However, we can switch to Full Flexi Loan in the future (after completion) if we wish to.

2. BHL has yet to accept UOB's loan package. Pending confirmation

3. UOB do not have islamic loans

4. 3 years lock down starts ticking from first draw down with 2% penalty

5. Rate he is giving is still same as previous: BLR -2.4

6. He mentioned BHL is not covering the S&P stamp duties. I asked Terrence Tea from BHL and he has confirmed that S&P legal and stamp duties will be covered by developer

Will see if other banks call me soon..LOL

hahaa..okok..sorry my bad 

Just curious to know, now we haven't sign S&P, are the banker allow us to proceed with bank loan application?

By normal procedure, we need to apply loan first. After get the loan offer letter than we only sign the S & P.. Cause once we sign S & P, cant reject anymore.. if bank loan rejected, how to pay few hundred k to developer ooh..... jual myself also cant pay it.. haha

I meet a UOB bank officer today... but what he inform to me is different. So really curious who is right...

1. The officer told me due to developer offering DIBS, so they cant give us either Full Flexi loan or even Semi Flexi loan. May I knw your office is from which branch? how come double standard?!!!

Just curious to know, now we haven't sign S&P, are the banker allow us to proceed with bank loan application?

The officer is from shah alam branch. Your office is opposite the OUG? is it possible to meet you tomorrow late afternoon for more details?

I met up with the panel UOB banker from Shah Alam branch last week.
They don't have any flexi or semi-flexi loan at all. The rest of the terms is almost the same as what syncronyzer listed.

I will be meeting up with someone from Hong Leong bank tomorrow morning. From what he explains to me, his offer is also -2.4% and it's islamic flexi loan. Will update you guys soon.

I met with HLB today. They have Full flexi-loan and Islamic loan.

- Minimum can get at least -2.4% but he will try to help me get a better rate.

- He recommended Islamic loan as there is no lock down period and no penalty fees.

- The down side is maximum 30 years loan tenure only.

Developer normally refund if your loan is rejected. But I got another question, what if my loan was approved but 60% margin only? Will developer still refund?

So far UOB just approve me 80% but HSBC approve 90%. Anyway,HSBC still waiting confirmation of the DIBS from BHL.

i heard HLB DIBS on dy... personally i prefer local bank coz easier to do banking...

i haven't hear any news from UOB and HSBC.... u guys really got ur reply fast

Hi Vong,

Eventhough you a successful banker, mortgage specialist etc

There is nothing wrong with Islamic Banking. It might be the clients especially non-muslims are not really familiar with true Islamic concepts or maybe we are not educated enough about the Islamic financing concepts.

Ok, for those who like to know well about Islamic financing, there are few agreement related with financing for example Musyarakah Mutanaqisah (Partnership), Ijarah (leasing), Bai Bithaman Ajil (Sale & Purchase) and many more...

Each agreement/concepts play their own role..I believe you is talking about Bai Bithaman Ajil (sale & Purchase agreement). Actually, there is no uncertainty. It is an agreement which customers agreed to purchase the property (after plus banks profit) normally the banks use 'Capping Rate/Ceiling Rate' as the purchase price. Actually it is better for customer know what they are doing. For example, they know total amount payable at the end of tenure while conventional banks never reveal how much total payable amount at the end of tenure.

Islamic finance is good for us (for muslims and non-muslims as well) because we must know what we are doing and base on negotiation (for win-win situation). You need to learn more before ruin something you do not familiar or skilled.


Latest News:

KFHMB offers to all Palace Court Kuchai Lama purchasers.
FEC (Finance Entry Cost)  = BFR -2.45% for whole tenure

ZEC (Zero Entry Cost)+FREE Legal fees + FREE Stamp duty = BFR -2.30% for whole tenure
                                       

Both packages under DBPS(Developer Bearing Profit Scheme)

Please contact 017-5510155 for further details.   

Just signed my loan with UOB. Some updates from BHL as well:

1. Official launching will happen on 3rd and 4th December (this weekend)
2. They're rushing for the show unit to be completed by then
3. S&P signing will start around 2 weeks from now
4. There are tentative plans to hold an event for S&P signing (perhaps with lucky draws and stuff) - TBC
5. The new detailed brochure in currently being printed

Haha.. SMS-ed Terrence and he called ma..