Signed the SPA for my first house in September, in the SPA there's a clause that I shall pay the balance sum within 3 month with 1 month extension. extension comes with 10% interest p.a.

Are there any way that I can avoid paying the 10% interest since it is not my fault that the loan disbursement is taking so long (I have yet to find out why it is taking so long since it is a freehold property).

Please advice, really has got no experience dealing with such issues. Thanks a lot.

Yes not your fault but "Your Side" Fault. This fault can be and most of the time due to lawyer send incomplete/incorrect document to bank. You should find out the reason behind it. How to avoid? Try to negotiate with seller, it work for me last time. As long the seller give you chance to talk to them you then you got hope.

Thanks justintas, on what basis can i negotiate with the seller? Other than sympathy

Your loan lawyer is also your SPA lawyer?

If yes, please call them and ask why there's a delay.

If not, please chase your loan solicitor and ask them what's the delay with the loan.