Housing Loan Consideration
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 Oct 25 2015, 07:57 AM
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#1
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Senior Member
2,854 posts Joined: Jul 2013  
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take note on the locked in period, although now seems like relaxed the locked in period.
i got 1 property bought in 2009, locked in for 5 years. i intend to dispose, but only found out locked in period is from the date of FULL drawdown, which is effectively from 2011. |
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Oct 26 2015, 07:09 AM
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#2
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Senior Member
2,854 posts Joined: Jul 2013
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QUOTE(wild_card_my @ Oct 26 2015, 07:05 AM) You mean they tightened it up? I am not too aware of any lock-in period policies, since I encourage all my clients to do Islamic loans. i mean now seem like relax this practise, many bank do not apply the lock in period. But thanks for sharing that useful warning.. not too aware that there may be changes. So you are saying that it used to be that the lock-in period starts from the date of execution... but now some banks changed it to the date of full drawdown (about the time you receive your keys)... is that it?  in 2009 is very common. locked in period is always base on full drawn, that is what banker said. |
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