Jan 20 2014, 08:54 AM
better read the fine line in your loan contract. pay attention (if there is) to clauses (or similar) like rights to reevaluate borrower credit, i.e bank can ask for your new income update to reassess the loan margin.
another common clause is, the periodic revaluation of property value, i.e If I take full loan (thanks to DIBS) and the re-valuation of property value is lower than the outstanding amount, bank reserves rights to ask for payment of differential sum, most of the time quite short notice.
careful careful. Really, please read the fine line of the contract and ask your lawyer help if you can't understand the term.
preparation is best after thorough examination.
QUOTE(Ambang2 @ Jan 20 2014, 12:03 AM)
Everyone buying property now must have at least 3 years financial buffer. I don't think property price will drop drastically but believe it will stagnant for sometimes. Be prepare to pay instalment n higher interest. Despite all these challenges, I still believe property price will appreciate further in 2016 onwards.
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