Just heard from SA that few more units of 2-storey and 3-storey released today due to Loan reject. In total about 5-units or so.

Heard that for buyers of these rejected loan units, just the 3% + 2% rebate. No more RM8K rebate offered. Developer bearing SPA Fees, buyer bear Loan Agreeement Fees + MOT.

Is this right?

This post has been edited by cfa28: Apr 3 2014, 01:57 PM

Tks for sharing. So many loan rejected units, Banks getting strict or buyers over confident?

some banks very strict. My coliq applied to Public Bank, only offer MOF of 85% despite he is already existing Public Bank customer. So prudent, how to do biz. Lucky he applied to other Banks, all offer MOF of 90%

what i heard is no increase but less some 'goodies' that was offered to only early birds.

Guys, don't disclose goodies here. I got friends whose MOF got reduced cos the Credit Dept found out about the goodies.

Keep goodies to PM only.

Like I said, don't know if Banks are getting strict or buyers overconfident.

Most buyers will not make booking fee unless they are quite certain of getting a Loan right? Lose 1K plus some CC fees for nothing is still money...

Actually i got many friends interested in TH.

At different times when they went, they were informed that the Project was sold out and they were on the waiting list. Only selected corner Lots were still available at a huge premium which they cannot afford cos > RM1.3m

Then units were released and they wanted to buy but was slow and again was informed sold out and on waiting list

But now, hmm must ask them to call TH again.

Tropicana T&C is

- retain RM1K as processing Fee
- if Booking paid via CC - 2% CC Processing Fees

why would MKH wanna do this? Even if they want to, how can they go about it. Developer does not sit on Banks approving committee

Banks access Loan primary on strength of Borrower profile, then on Developer profile. If they are not comfortable with Developer profile, the logical thing to do is to reduce the MOF to say 80% and not to reject the loan outright cos the Banks know that Borrower has also applied to many other Banks and don't' want to risk losing the biz right.

My source says about 23 units as of yesterday. Comprises both 2 and 3 storey. Both intermediate and many corner unit available

My source says about 23 units as of yesterday. Comprises both 2 and 3 storey. Both intermediate and many corner unit available

I think the discount is 3% + 2%. Is the RM8K still available? Heard that it was only offered for buyers during launch - buyer who picked up the loan rejected not given.

Bro, what does the article say for those who do not understand Mandarin / Chinese

Can u share whether there are still any more units available for TH for those who may still be interested?

That's good to hear. Last I heard, Intermediate & Corner units was like 22 to 25 units.

Good to hear that got people sapu these 'Loan Rejected' units.

What about corner units - how many still available ??

That's good. I thought the heavy Machinery was cos the Developer wants to build another Block of Condos.

is your lawyer leonie chan & co. my coliq who bought, the SPA lawyer said MOT not so soon. dont know when yet.

i introduce my coliq to buy as i am from kajang but cannot afford it myself. still hoping for something around RM600K.

i asked him last month about the MOT when he told me that he has signed the SPA and he told me the lawyer who was quite young and cute said not so soon, dont know when need to pay

under the solicitor renemuration rules, for Loan agreement bought from developers,,the lawyer is allowed to give official discount of 35% from the standard fees.

but market norm for developer loan agreement is up to 50%

what you need to do is go to some websites like loan street, etc or google legal fees malaysia to see how much is the legal fees based on the loan amount.

the discount is only on the legal fees and not disbursements. how it is suppose to work is

legal fees say 13k

less discount 35% as allowed

after discount say 9k

so u write a cheque for 9k but if the Lawyer gives u additional 15% discount, the lawyer need to give u back cash of say 1k

all the figures above are for ilustration only. its not mathematically correct but it would appear that u did not get 50% discount,mjust 35%.

the correct and only way to ask for discount is to ask "eh got how much discount, my friend got 50% woh"

aks your loan agent or lawyer again.

For those who want to know how much is the entry cost, i.e. Legal Fees, Stamp Duty

Go to http://loanstreet.com.my/

Go to Tool, Mortgage Repayment and Entry Cos

This post has been edited by cfa28: May 19 2014, 10:26 AM

No problem Bro. Congrats on your purchase and remember to squeeze the Lawyer for more discount for your next purchase.