QUOTE(babygrand123 @ Jul 16 2014, 08:30 PM)
Roughly what will be the action taken by the BNM? Since the saville buyer already sign the SPA by giving the rebate and i heard they only pay 5K only !!!!!
On the other hand what the benefit if reported to BNM? Since the all the Saville buyer definately happy by paying just 5K and brought the unit right?
Just to curious to find out the logic and thanks for your feedback. Thanks again
Wah this one also need to explain meh?
Ok I will explain and use 10 minutes of my time to explain to you. I will give u 1 example:
Price: RM360K
Discount: 10% given by developer.
A buyer will pay this:
under LTV90% = No need to pay anything coz got 10% discount
under LTV70% = Need to pay 20% downpayment: RM72K
Now BNM masuk, instruct developer and banks to stop this. So now loan is given after discount price:
Current price: RM360K -10% = RM 324K
under LTV90% = STILL NEED TO PAY RM32.4K downpayment
under LTV70% = NEED TO PAY HIGHER DOWNPAYMENT (30%) of RM324K: RM97.2K
Have I answered your question here? A lot of the buyers fall under LTV70%. Are you a newbie to not know this?