I heard HLB gives verbal approval very fast but takes ages to come out with the LO. Luckily I got OCBC.

Lucky? I applied on the 1st day, 16 June. LOL.

---

Added on July 2, 2012, 11:02 pmI don't remember the clauses as there are so many pages and different banks have different documents.

This post has been edited by nomeames77: Jul 2 2012, 11:02 PM

Talam = Trinity Corporation (not the same as our Developer)

I purposely opened a current account cus not only we need to use cheque for paying the balance 5% and solicitors' fee now but we also need to pay quit rent, assessment, maintenance fee, etc in the future. I for one think it's good to have our own cheque book for the apartment, especially this is my first baby and i want every payment to be on record

If u hv got the extension from the developer to sign S&P, then yes u can always sign S&P and loan together but u should make appointment with your lawyer first.

if u hv not got the extension, u should check with the developer if you are still entitled to the package or the deal is off. gd luck.

yes, you need to follow up with the lawyer/banker on signing of the loan docs. I signed S&P and paid balance last week and gonna sign the loan docs next week.

Amount secured or financed (LOAN AMOUNT)
Scale of Fees :
For the first RM150,000: 1.0%
For the next RM850,000: 0.7%

For the principal instrument: Full scale fee

For each subsidiary instrument: 10% of scale fee (subject to a minimum fee of RM200 and a maximum fee of RM1,000)

e.g. loan sum RM350,000
RM100,000 x 1% = RM1,000
RM250,000 x 0.7% = RM1,750
Legal fee for principal instrument = RM2,750 (RM1k + RM1,750)
Q: what is principal instrument?
A: the main loan document (e.g. Facility Agreement)

THEN, Q: what are subsidiary instruments?
A: Deed of Assignment

In this example, the legal fee is:
1) principal instrument RM2,750
2) PLUS subsidiary instrument RM275 (for each subsidiary instrument)
[Q: why RM275? Q: 10% of RM2,750 (min RM200; max RM1000)]
3) other miscellaneous docs

Note: the aboe are only legal fees, NOT including disbursements such as courier, fax/phone calls, postage, etc.

Typos, thanks for pointing out.

RM150,000 x 1% = RM1,500
RM200,000 x 0.7% = RM1,400
That's RM2,900 for the principal instrument. (legal fees only, excluding disbursements such as stamp duty, etc)
So, each subsidiary instrument will be RM290.

the RM290 is for EACH subsidiary instrument, I dunno how many are they. and my calculation does not include disbursements which could come up to a few thousand RM.

Venice Hills (a.k.a. Vice Hills) is infamous for many foreign residents who are renting the place, especially Africans and this has been published in the paper. I nearly bought the place few years ago cus the price is low.

What's the exact name of the FB page?

Maybe you wanna try OCBC, I heard they have got more quota now.

Got mine last week

---

Added on August 13, 2012, 6:00 pmI got mine.

This post has been edited by nomeames77: Aug 13 2012, 06:00 PM

Thanks for sharing! However, I heard from a reliable source that it will be delayed, but hopefully still within this year. To be honest, I do receive the monthly bills or yearly statement but do not really check them. I sometimes see late payment interest like a few cents here and there, so not too bothered by it, even if it means I may have to pay a few hundred RM during VP time. This is my 1st purchase, not that I am not kancheong but too lazy to look at every detail or every cent all the time. Just hope VP won't be delayed too much and the place will come in the condition as promised/featured in the ad.