I already received snp from lawyer and now waiting for billing from developer.. Developer told me i need to pay based on currnet progress which is 20% before 1 april.. So after i received the bill i will follow up with my bank and loan lawyer for disbursement progress.. I hope my disbursement to developer run smooth.. Huhu

This post has been edited by aspx123: Mar 11 2016, 03:26 PM

hmmm.... lets say the completion is 90% then we have to pay how much per month roughly ...?

bro, u signed your loan agreement and gonna pay the interest soon?

I received my snp copy already but not yet sign the loan agreement

After u received snp developer will issue the bill.. Better u follow up with developer when is your last day for bank to disbursement money.. I sign my loan agreement after few days received my snp copy.. Currently i not received any news from bank when i will paying interest but next week i will follow up with bank after i received my bill from developer..

This post has been edited by aspx123: Mar 11 2016, 04:21 PM

Not yet...because I need to pay interest once the bank has disburse the payment...
For my case, I haven't applied for loan since I need SnP agreement to apply for loan in my company...

Yesterdays the lawyer mentioned that the calculation is roughly like this:
Let say you borrow 90% (270k) from the bank, you have already paid 10% (30k) for the booking fees
Your interest rate is 4.3

90% x 270,000 x 0.043 divide by 12 months per year = RM870.75

This is what the lawyer mentioned. Once the bank disburse 90% to the developer, the bank will request the applicant to pay the interest.

Hope this helps.

This post has been edited by paktam: Mar 11 2016, 05:35 PM

i see... this is helpful thanks a lot

it seems that we still need to wait for at least 2 years before we see 80% to 90% completion..

Yes, until its almost completed within 3 years...we can expect to pay interest around RM900 monthly...

interest only ? serious?

yup.. 3 years u just pay the interest portion. u will start the principal and interest at 4th years until the end.

but its 800 per month just on interest. and loan is like 1200 per month? 1200 + 800 mean 2k per month?

maintenance fees??

this is just the interest...max should be RM900...the principal not paid yet...after completion only need to pay principal plus interest which is our monthly installment...not to forget...need to include maintenance fees also...

maintenance fees not included yet...hopefully below RM300...
for strata title there will be a committee (developer + residents)
who will negotiate the amount for maintanance fees...

This post has been edited by paktam: Mar 12 2016, 09:48 PM

no bro... u got it wrong...

rm1200 or 1300 is installment that u need to pay once the project is completed and ready to move in..

while the rm800 is when it almost reach 90% of constructions...

for the first year, i think wont be paying that much of interest..

like what some of the forumers said, now they said is 20% completion, which is about RM230 per month as of now..

later on when they build further, the interest that we need to pay will increase as well to rm330++ and so on...

Basically the faster our developer can complete the construction the lesser we will need to pay the interest.

Do expect we will only pay a fraction of the total interest which is based on percentage o f completion. So once you get the progress billing from the developer the bank will disburse the money accordingly and thats when the bank start calculate the interest.

So you can counter check what is the progress billing description with what stage of completion developer on actual site.

Thanks for sharing I just knew this..

This is true, but however, I don't think that the developer will complete earlier than December 2018.
It takes quite sometime to complete. But, hopefully the development will complete by end of December 2018.

After that, we can pay our monthly installment.

This is true, but however, I don't think that the developer will complete earlier than December 2018.
It takes quite sometime to complete. But, hopefully the development will complete by end of December 2018.

After that, we can pay our monthly installment.


Edit: Double posting again, dunno why, I click once, but it appears 2 posts.

This post has been edited by paktam: Mar 14 2016, 11:07 AM