Yes, both S&P and Loan Agreement signed by me. Because they found out later that the property did not yet have a strata title, and the developer under liquidation. It was for a long completed property.

Hi all Sifu, I got one question about the house/mortgage loan.

I bought a new property last year (new project) and without DIBS.

Since my bank already start charge us interest based on construction progress so what is the benefit if we pay more than the interest amount into our loan account before the project complete?

If I do so is it will deduct my loan's principle or principle + interest?

Or should I wait until the actual loan repayment period start then only I put more money into the loan account?

Thank you all Sifu in adavanced

Don't consider public bank.

Lousy in service, both sales and credit administrator.

Summore the statement can only be generated every 6 months.

the more you pay, the less the interest charges you will get. don't need to wait to the actual loan repayment period to start.

There's normally a waiting period before you can start the pay down the loan during construction period. This will be stated in your loan agreement or loan term sheet.

I think ocbc bank don't have. we can put down as many as we want to rest the interest....

Actually you can pay down in anytime once they start disbursing to reduce the interest BUT you can't take out any of the money from the capital repayment pool until your principal loan repayment starts.

How about maybank and RHB? anyone taking this two? Both offer me BLR-2.45%, full flexi

Not for my OCBC semi flexi loan though maybe because mine is DIBS. The bank only allow me to pay advance installment few months after the full loan was disbursed to the developer.

This post has been edited by Chigme: May 16 2014, 01:45 PM

You should be able to pay advance installment anytime. I always do so. How they going to stop you from paying into your own loan account?

It is stipulated in my loan agreement. I guess it is not standard across all projects.

something new again. I've practice pumping more money into the loan account during the progress payment stages. And no problem at all. I'm using OCBC bank semi flexi home loan.

Might be. But anyway, you don't need to pay any interest also during the construction period because yours is under DIBS. Mine is non DIBS.

I guess her agreement is slightly different? My properties are non DIBS so those with DIBS might have different set of agreement?

could be.

you can check all rates offered from the banks in malaysia through this website http://www.imoney.my/home-loan or download home loan calculator app from google play https://play.google.com/store/apps/details?...imoney.homeloan

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This post has been edited by A.B.D.: May 28 2014, 09:23 PM

EMAIL ME : namasral@gmail.com
wanna apply for home loan in Mahkota Hills , Beranang

Hi, i'm taking OCBC loan for my first house, only prepare income tax and receipt,I/c,booking form, so gen jiong now~~~

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This post has been edited by ruben7389: Jul 3 2014, 05:40 AM

For DIBS project, the developer will absorb the intetest during construction period. So there is no point of putting the money to reduce loan interest during construction stage as in the first place the interest is born by developer. The money that you dump in serve no purpose and very likely won't earn you any interest (even there is, it will be pathetic)

After completion / VP, you may dump in more than the required scheduled instalment to reduce the interest. If it's full flexy then you will be able take back your extra payment anytime from your current account. If it's semi flexy then you will have to write in to request take the extra money.