If able to find out which project then can know which guru intro

First loan 370k rental 900 no issue

New loan
618k commercial lvl 21
400k residential lvl 38

I just signed spa and LA for both undercon new project at the same time. How high is the chance loan being cancelled?

This post has been edited by metaclaw: Jan 1 2020, 03:23 PM

For commi lvl 21 I doubt u hav more than 18mths b4 2b

As for resi lvl 38 maybe slightly more than 24mths if lucky. But would b a few yrs

Beta dun do stunt for compressed loan hut since u hav taken the risk then u can onli pray the skl won't send u to hell🙏

I am prepared for the 20%. But i am not prepared for the worst says 90%. What would happen to me if worst happen loan cancel? SPA how since signed? can put my wife name (but she ald also hv 2)

You could only hope neither bank will check ccris before first loan drawdown.

I was told at worst turn into 70% which i m ok. After reading this thread then only i know worst
might be they will cancel it..

It depends on bank policy at that time; some banks policy called for loan cancellation.

Can share which FI?

This type of compression loan is like a sucide game for current economy.

If bank cancelled your loan, isnt that the bestest news ever??

Meaning you cant proceed with the purchase and the developer has to terminate the spa btw you and developer???

Without the bank cancellation and you want to drop out from spa, lagi susah loh my friend.

My impression is the developer might sue me or force me to buy cash since spa signed. Is that true?

This post has been edited by metaclaw: Jan 1 2020, 06:03 PM

Nobody can sue lah...
Stop watching too much legal dramas.

Your spa does provide clauses as to termination of spa. At worst, you lose everything you have paid so far plus interest...but it wont.

What lagi best is IF bank withdrew your banking facilities you can have one good excuse of cant proceed with purchase.

But never look at this as benefit for you. End of the day it will only be cost. Its a matter of how much lost you suffered.

Glad to hear that. If that is the case if loan being cancelled then just reapply for 70% if not being blacklisted..

may i know which bank still allow compressed loan nowaday? i read the news somewhere that BNM will ban the compressed loan all together, so it is still not happening?

It’s already happened. You can’t do it anymore.

I am not sure I get you. The loan amount between these two are so much different even if u submit both parallel, very unlikely banks will treat both as same property.

Maybe you just think too much.

Have you (or your bankers) work out your own dsr based on these acquisitions?

DSR and installment shoulndt be a problem gua although i dont know how to calculate it. I just wish i could save the 20% cash downpayment if can. Who knows it turn out ugly to face those risk of loan being cancelled and blacklisting.

* They r different projects

This post has been edited by metaclaw: Jan 2 2020, 11:32 AM

Then you have nothing to worry.. At least bank side.

Duplicate post

This post has been edited by gks: Jan 2 2020, 12:23 PM

If bank cancelled your loan for loan compression, there might be consequences. Dun be so happy.