so i asked a question this afternoon



when does the lock in period starts?

a. after the first drawdown

b. after full disbursement

should be (b) full drawdown

5% is very high. I got one back in 2009 is 3%.
later bank become competitive, no more lock in or at most for 3 years.

b. after full disbursement

Really depends on what property is this, if own stay, it wont matter much.. just look at credit facilities they offer or the interest rates. But if investment, then 5 years from full disbursement is a slight disadvantage. Increases your cost of sales if you sell the prop within the lock in period.

This post has been edited by Anubis77: Dec 23 2015, 07:11 AM

assuming that the lock in period is after the full disbursement, the 5% penalty will be based on which sum?

a. the total loan sum?

or

b. the remaining balance of the loan?

b the remaining balance of the loan based on the settlement schedule provided by the bank

so let's assume again that the final amount not yet disbursed is 5% of rm 5,000 (from an initial rm 100,000 loan)

is it safe to assume that the penalty will be at 5% x Rm 5,000 = RM 250

or

let's assume the loan balance is rm 30,000 as of on the day of settelment, the penalty shall be 5% x RM 30,000 = RM 1,500 ?

Actually is both... based on the context in your first post. But your first calculation is wrong

If the FL is not fully disbursed, remain 5%, 95% already disbursed, the penalty will be 5% xRM95000

If the FL is already disbursed, and according to the loan scheduled payment (advance payment is not considered), the remaining balance is 30k, then your second calculation is correct.

Balance sum.