Hi All,

I Need Heeelppp~~~

Regarding the late charges.
I got a little bit of problem when come to late charges to vendor.

Lawyer A (Lawyer Appointed by Loan Consultancy)
Lawyer B (My S&P Lawyer)
Lawyer C (Lawyer Appointed by Public Bank)

Here is the stories.

I got my loan from one of the loan consultancy.
I got offer from Public Bank, So I agreed to take the loan, I plan to use my own lawyer for Loan and S&P, But loan consultancy doesn't allow me to use my own lawyer, so they appointed their own lawyer (Lawyer A), and I get my own lawyer (Lawyer B) to process S&P parts.

S&P Signed on 30th April 2015
Loan Agreement signed with Lawyer A on 29 April 2015 (Paid to Lawyer A)

So the Lawyer A submitted my application to Public Bank. Public bank refused to use the Lawyer A to process my loan for unknown reason, so Public Bank appointed his own panel lawyer (Lawyer C) to process my loan without inform me.

Lawyer A claim to be, they only received the document and bank instruction from Bank and Lawyer A on 4th June.

What is the progress now?
Owner Bank return with the strata title to Lawyer B.
Then Lawyer B will advise Lawyer C to process the last payment redemption from the bank.

I'm calling them all day and all night to chase them like hell.

So now, the whole process supposed to be end 3 months times on 31 July 2015. who is going to bare the interest?

This post has been edited by R8lover: Aug 12 2015, 06:57 PM

It is always advisable to use the same lawyer for SPA and Loan Agreement, for easier coordination and speedy documentation, provided that the lawyer who prepares the SPA is a panel lawyer of the bank approving your loan.

Yes. Originally i planned to use my own lawyer for loan and SPA. But the Debancco don't allow me to use my lawyer. that why caused all these issue.

"Who is going to bare the interest?"

Unfortunately, the straight forward answer is : the purchaser, ie, you. Unless you / your lawyer can proof that the delay is due to allowable interest-free period, ie, generally delay caused by the vendor or his lawyer or his end-financier. In your case, looks like is a major delay in appointment / change of financier's lawyer, which is not the seller's fault.

You need to record down the chronology of the progress and show to them if needed

Datetime that you received the update, docs that you have sign, who were the person communicate with you.

When engaging your own lawyer, should have put down additional clause stating that charges due to delay should be bound by the lawyer, and let the lawyer do the chasing on behalf of you. Instead of free developers lawyer, you paid for your own lawyer, this is the minimal request on your lawyer.

I am confused. Why your loan consultant recommend the lawyer (Lawyer A) is not recognised by public bank. and how come u mentioned u signed the loan agreement ? the loan agreement is not from Public Bank ?