Hehe, just wanna try my luck

In a way yes, because these are guys hungry for business, and they submit bulk cases, so, can get better rates, faster approval and higher MOF.

BLR-2.5% is very subjective, they look at your financial position and risk assessment.
Low risk = Low Interest. Abit salah la to me, never understood this in banking all this while.
That guy already susah payah pay loan, then you squeeze him for higher interest. But, sadly this is how it works.

Anyhow, what i understood is, they trying to level playing field.
DSL is BLR-2.35% to BLR-2.4%
Semi-D and above, BLR-2.4% to BLR-2.5%

However, exceptional cases, loan amount, financial standing all stands to influence the MOF, Lock In and Final Rate.

Yes, this is doable.
The loan will be based on progressive drawdown.
So, instead of bank follow schedule, buyer follow the schedule.
However, bear in mind this is not condo / high rise, the subsequent 10% x 2 will come very fast.
Palida piling start d. So, now 10% DP for earthworks. Then 10% for piling.
You would still have time to get the 20%, maybe about 2 months from SPA signing. To be safe, by December, 10% and January the other 10%.
Meanwhile, you apply loan for 70%.

I dont think this is possible.
When bank grant 70% MOF, they will expect committment from Buyer.
Hence, applicant will definitely have to fork out that remaining 30% before bank start the drawdown.
It would definitely be a covenant in the loan.
What's the point of having LTV of 70% for 3rd prop if buyer / speculator no need to fork out the 30% up front but at the end before VP.
Giving buyer / speculator to speculate on other props, before coming back to speculate on this prop.
Doesnt sound right.

How many days we need to pay to developer after receive notice of disbursement for every progressive billing. If we drag up to 1 month if there any penalty billing to us.

Definitely cannot because it is a pre-requisite that the borrower must settled the differential sum between the loan sum and the balance purchase price prior to the Financier's Solicitors advise the Financier to drawdown the loan sum to the developer.

Yes, cheque or bank draft only.

Usually it is 14 days from the date of the progressive billing. Late payment will be subjected to penalty.

Thanks Cheryee

[quote=cheryee,Oct 17 2013, 03:49 PM]
Usually it is 14 days from the date of the progressive billing. Late payment will be subjected to penalty.





Boss Cheryee, the SPS SA said the status of DIBS only
can be confirmed after budget 2014. How the government
approve DIBS before this...

No prob!

[quote=Seremban_Guy123,Oct 17 2013, 04:01 PM]
[quote=cheryee,Oct 17 2013, 03:49 PM]
Usually it is 14 days from the date of the progressive billing. Late payment will be subjected to penalty.

Boss Cheryee, the SPS SA said the status of DIBS only
can be confirmed after budget 2014. How the government
approve DIBS before this...

[/quote]

Its conditional DIBS, right?
But, i think those loans approved before Budget 2014 confirm got DIBS.
So, cepat cepat pergi approve itu loan.

[quote=Seremban_Guy123,Oct 17 2013, 04:01 PM]
[quote=cheryee,Oct 17 2013, 03:49 PM]
Usually it is 14 days from the date of the progressive billing. Late payment will be subjected to penalty.

Boss Cheryee, the SPS SA said the status of DIBS only
can be confirmed after budget 2014. How the government
approve DIBS before this...

[/quote]

BNM will act upon instructions from the government, so now there's nothing that we can do except wait lo

Anyways, removal of DIBS will only take effect for new launches; or loans approve after 1 Jan 2014.
Hence, its safe, to get the loan approved as soon as possible.
However, if DIBS is banned effective immediately, I think somehow rather SPS will have to give some sort of a rebate.

Dear neighbours,

I have started a version 3 in view that we have reached the limit of 100 pages over here.

Let's continue to party over there ya!

https://forum.lowyat.net/topic/2997865

If before i sign the snp, i decide not to buy, can i get back the full booking fee?

Darween, Your statement make sense. I think if I proceed with progressive billing up to 30 % so the remaining I have to borrow from the bank is 70% from the total price. But logically I still need to fork 30% down payment from the total loan with the bank even the total loan only 70% of the house price. Mean I have to pay more money by implement this strategy.

You can refer to what CY has said.
What will happen is, the execution will have to be in order, means the banks' lawyers will advise the banker that all docs have been received in full and in order; meaning that buyer has settled all convenats that needs to be satisfied before bank drawdown the progressive 70% payment.

Either way, you have to come up with 30% DP, just that it wont be on SPA signing date, you have a few months; my opinion at most 3 months time to pay up the remaining 20% after settling the 10% DP during SPA signing. The initial works cost more money than the later ones, so, the progressive payment will come fast, hence you need to be prepared.

-

This post has been edited by bukithot: Oct 17 2013, 08:07 PM