Youngster invest in property is a good move as they step in in their early stage... With the joint name, is consider one of the strategy that invest in property as long as they are on the right track... Holding power is another point.. if they know their game plan ( speaker from OPIN1 & OPIN2), i would suggest is a smart move and go a head....

Yes. that's why when my daughter said she like this window on the park. instantly i bounce and support her 100%.

Yes, quite agreed on above. Youngsters should practise more delayed gratification, spend a bit more time and effort in investment such as property. Only worry is those youngsters that over exposed, hoping to flip with a profit of RM50-100k upon VP but with weak holding power.

woot? 3.5k salary can get 500k property?

That's one big head there...

Why not? with 10% rebate and DIBS, rm500k loan for 40 years tenure or up to 70 years old only cost rm 2120 a month after it completion. Youngster dying to get 1 to show off around members. Quite normal since DIBS introduced in year 2009.

oh :S 40 years.

why look like surprise

This post has been edited by ecin: Jul 30 2012, 05:50 PM

what is the price for 1600sft unit before discount?

Am definitely not eligible.. lol

periperi bro.. this 3.5k/month -> 500k loan is real life case or assumption?

Will Maybank able give easy loan for Block C buyer. Cos only Maybank can do pre-approve loan for Block C. After AP obtained only others bank step in.

peri-peri, please be realistic, i really want to know which bank can offer 500k loan based on a person gross income at rm3.5k... if that person sign a statutory declaration that he wont eat & drink & will fully contribute his monthly income to pay installment also, none of the banks will entertain...

please let me know if there's really a bank existing to lend based on such requirement...

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Added on July 30, 2012, 11:56 pmperi-peri, i wondering if u really know about the project or if u've really been to the sales gallery to find out more about the project. FYI, all the legal fees, stamp duty and disbursement are ALL BORN by developer, provided u use back the SPA lawyer as loan solicitor and panel bank of SDB.

For under construction loan, borrowers only need to service the loan interest and nothing on the principal UNLESS they opt to. for this WOTP case, I don't see any reasons/logic for the purchasers to pay the principal during construction since the interest during construction is FULLY taken care by SDB. Unless you feel unsafe even your money being locked in MILO tin..

Please conduct some fact findings to make this discussion more healthy.

This post has been edited by poorchinaman: Jul 30 2012, 11:56 PM

I guess this could be real life..my staff salary ard 7.5k can get 900k loan..using her own name only..cool huh.?

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Added on July 31, 2012, 12:10 amWah! Such a good parents!

This post has been edited by walle: Jul 31 2012, 12:10 AM

there is a different if you are higher income as bank allow you to take higher ratio..
The ratio is not FIXED.. it is case by case basis.. 900k loan is roughly about installment 3k+ and your fren still hav few thousand to survive after deducting installment.. personally my installment to salary ratio adi hitting 60%.. just got my 3rd homeloan approved in April and hirepurchase approved last month..

but we are talking about 3.5k permonth and 2.2k installment... after minus tax and epf only left few hundred to survive

hope peri-peri bro verify his claim, if can intro the bank and banker to us...

U got the point too

Yeah, last 3 months im also sceptical with this like u on this. Yup, as clarified by most of the forumers here and with my bankers recently on a home loan i applied, is a yes! True good too be true. But dont be mislead, its not gross, its based on nett. As long the installement is not more than 70% of ur nett income. Panel normally provide this. U should check out the g residence, which banks? I believe plenty out there eager for more young and bold loan slaves. Its a business anyway.

Regarding the DIBS, 1st time im hearing the buyer no need to install the principle progressively according to billing. Imagine, u apply loan, developer claim the billing periodically from ur bank, once billing stage disburse by bank to developer, bank will start bill the developer for loan interest, then, bank will bill the principle to who? Bank will wait everything to be complete and all loan amt disbursed to developer then start counting? Too good to be true right?

As i said b4, price still steep for me to vest. But i still congrats to all new owners here. With such price tag, im delighted it will further boost my gain on paper for a condo that i booked recently which is nearby.

World is fast changing and must alert with any possible hidden cost, thats why we share to discuss and learn. Listen does helps improve

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Added on July 31, 2012, 12:38 amHaha, bro, dont mislead by others. I did not quote on gross income b4. Its based on nett income. I thought its common understanding here. There are some thread dicussing on this loan eligible thing few months back too. Just wanna share with any newbie not to miss the chance to vest too

This post has been edited by peri peri: Jul 31 2012, 12:38 AM

Hi peri. This is very true to be true. Dibs is a good thing. Principal remain unchanged and interest is calculated based on the portion of it released by bank to the developer and the developer pays the interest on behalf of the buyers. It is really
Good and I have already benefited from it for my properties.

Peri-peri bro LEFT out the important word 'NETT INCOME' just now, he was referring RM 3.5k to nett income wo. let's wait for him to inform us which banks can offer 500k loan to someone with 3.5k gross/NETT INCOME.

that is y need to verify before further misleading..
as you can see with all the queries, most will still assume income = gross income ... cool no big issues.. chill

even though 3.5k is nett income, this looks like a bold and desperate move by bank making assumption that younger buyers will have salary increase in the future..

[quote=peri peri,Jul 31 2012, 12:30 AM]
Yeah, last 3 months im also sceptical with this like u on this. Yup, as clarified by most of the forumers here and with my bankers recently on a home loan i applied, is a yes! True good too be true. But dont be mislead, its not gross, its based on nett. As long the installement is not more than 70% of ur nett income. Panel normally provide this. U should check out the g residence, which banks? I believe plenty out there eager for more young and bold loan slaves. Its a business anyway.

Regarding the DIBS, 1st time im hearing the buyer no need to install the principle progressively according to billing. Imagine, u apply loan, developer claim the billing periodically from ur bank, once billing stage disburse by bank to developer, bank will start bill the developer for loan interest, then, bank will bill the principle to who? Bank will wait everything to be complete and all loan amt disbursed to developer then start counting? Too good to be true right?

As i said b4, price still steep for me to vest. But i still congrats to all new owners here. With such price tag, im delighted it will further boost my gain on paper for a condo that i booked recently which is nearby.

World is fast changing and must alert with any possible hidden cost, thats why we share to discuss and learn. Listen does helps improve


Peri-peri, let's talk fact & don't twist the story left or right. Our friend just now mentioned that, u don't have to pay ANYTHING until u get the VP from SDB after 3 years, which I think is damn true, and nothing out from the truth. We are not talking about principal repayment AFTER 3 years when we get the VP, we are talking about during construction period, we don't have to pay a single cent to BANK.

Bank will of course bill the principal to the purchasers, but do we need to really pay back to the banks DURING CONSTRUCTION PERIOD IF THERE IS A DIBS? As I said, unless u feel unsafe to even hide your money in MILO tin, else, there are much better things to do with the PRINCIPAL REPAYMENT DURING CONSTRUCTION PERIOD.

Give me a big YES if anyone of you out there agree, thanks....