True; but the pricing which the loan is based on - is inflated with the DIBS element. Assuming, we bought Merrum at 1M and now no more DIBS - means our interest is based on 900k (90%MOF) - which could have been based on 800k (should the price be lower by 100k). However, the customer can probably still revoke the LO as the LO will state DIBS and the LO needs to be amended. You can refuse to sign the amended LO.

I will continue too; but I am sure there will be either Cash Rebate or Future Claim of Interest on a periodical basis.

Probably the best option for all and most convenient for the developer instead of adding/changing stuff to the property itself or that pay first claim later scheme too messy and basically going against government's decision. IMO a reputable developer like SPS probably won't risk it.

The LO could be invalid, right? Those buyers will need to re-apply; i foresee if this happens, SPA signing wont be anytime soon.

just checked with my agents from HSBC, UOB and OCBC told me DIBS still valid on this project....

Most convenient, agree on a figure and that will be given as rebate to all buyers of respective village. Which probably mean, none of us would really need to come out with additional 10%. However, considering that it is SPS and launch was made in September, they could lobby Govt. and get approval for DIBS for Phase 1 only. Either way, still need to follow the developments closely.

I just got a call from my Alliance Bank agent - Suat Ling (listed on the contacts listing) - loan approved, BLR-2.45%, reno loan (10% of loan amount), full flexi, 3 years lock in from first drawdown.

My first question was, is DIBS still on going and she replied, though there is ambiguity, most likely will continue

From what i have gathered;
HSBC, OCBC, Alliance is saying DIBS remains intact.
However, PBB have yet to give a reply on my application - but the banker said need to get confirmation from SPS.

Wah, so much rumours.. here and there... better wait the confirmation from SPS...

After all, DIBS is the deal between SPS with the banks, and we have no final say. Since the DIBS is already factored into the sale price, just hope SPS will bring out the ethic as a responsible developer, and give whatever have been promised...

SEH is started with many compliments and they still have SEH 2, presumably they will make everything in order to ensure it is a success, consistent with its superbrand title.

Cost of material , labour and land all going up. New project price go down? What theory and fundamental is this. Ringgit value keep dropping against other currency, RM real value drop , cost to buy similar good increase = inflation. Price going down? Eg simple analogy, during my school day RM0.20 cents can buy nasi lemak. Now for sure not that price anymore. Now RM0.20 can buy what?

So propert price going up is not that prop is more expensive, but is the value of our $ is going down. We need to use more $ to buy the same amount of good we could afford.

This is a useful info I got it from another page

Soon malaysial will become like indon rupiah....

Don't be too upset, I contacted the brother darween's lenglui agent but no respond... got on hold of another agent then only the application process start rolling. Haha.. perhaps I'm not as handsome as darween, that's why got less attention.

This post has been edited by neotheone: Oct 28 2013, 11:40 PM

Received a call from CIMB. Loan amount < 500k. Blr - 2.4%. Banker mentioned that's the best rate. Can't negotiate. more details will be in my email tomorrow. I asked him to take a rest today and only fill me in with details as it has been late in the evening. Haha, a very hardworking chap indeed!

But the 30 cents psf maintenance charges = real turn off!

Me = still BBB

I checked with RHB leng lui, she sd no problem with DIBS coz SPS's application for DIBS was approved b4 the directive.

But must sign LO asap lor. ..

Bro Neo, don't flame rumours. I am no handsome or got special treatment. You see First Lady, same one day pre-approval; maybe they are not as aggressive as they were. I am not so sure, but after the leng lui informed me on my MOF of 70-80%, she never followed up. So, I also not so sure.

LOL ... I sudah sign b4 budget announcement

Which banker is this? Listed on the contacts listing given by SEH or approached you separately? Unimpressed with the CIMB Bankers that were found in SEH WC - they are incompetent and not well versed with their product offering. I am a CIMB employee and yet they had no interest in serving me-saying this cannot that cannot; an external CIMB guy named Ken called and has processed my loan with ease. He's hardworking and competent too; realising am a staff, he's appealing for a better rate and reno loan.