I m buying 2 houses at the same time and i m just taking whatever amount they approved. Why should they cancel actually? I thought what they care is the capabilities to repay loan.. But tbh the only consequence i m afraid is blacklisting..

This post has been edited by metaclaw: Jan 3 2020, 09:18 PM

You can buy many houses as as you like, 2,3 or even 10 houses at the same time as long as your income can afford to pay all the installments in the future.

The problem is, if your income is not enough to pay the installment in the future, then how? For bank if they feel that you are very high risk and high possibility not able to pay the installment, of course they will cancel.

Yes correct.

Usually if your developer (or developers if he multi purchased from different developers but applied as same time) claimed next progressive payment same time, maybe you can get away from broad day light robbery.

But if different time (the period is 21 days if not mistaken), then when your current crisis updated, they will notice the discrepancy.

Also if any one if your developers claim progressive payment after x month after loan approval, the bank is obliged to see your updated crisis to see if your financial standing as per your application. Needless to say, the differences will show.

Do note that making false declaration to bankers is a punishable fraud under the court of law. Consider you lucky if you are just been blacklisted, if they dont sue you in court in orange jump suit.

You are making falsely declaration in your application.

This has nothing to do with your ability to pay.

Most compressed loan applicants are not been able to pay all appllication baru they do compressed loan.

If you able, why making falsely declaration?

And also if you are buying any property by cash and the developer hasnt fully claimed the final installments pls dont declare such asset.

It wont help in your assessment.

I dint make any false declaration under my intention and awareness. I dint see any declaration of number of properties in the form neither purchase unit.
Which declaration u meant?

It wont help in what kind of assemsent?

Not in my case but wish to know also. Do we need to declare assets to apply loan? No experience

What was your intention for loan compression? To flip upon completion? For cash back?

Can your income sustain 3 housing loan? What will be your dsl for 3 housing loan?

This post has been edited by icemanfx: Jan 4 2020, 07:15 AM

Allot of people get high and mighty with so many home in hand. Can showoff

Until these properties are free from incumbrances, is a liability, it is too early to feel high or show off.

This post has been edited by icemanfx: Jan 4 2020, 10:14 AM

Not in my case too as there is nth to show off for mere 3 properties. Plenty of ppl have dozen of it and still
very low profile.

Neither. Actually it just happened to be buying at the same time only who knows it created such hoohaa. Probably the only intention is to save downpayment so that i can pump my cash for sth else..

PS I hv low debt DSR. Instalment should be ok

What is dsl?

This post has been edited by metaclaw: Jan 4 2020, 02:20 PM

Multiple loans, good way to hit margin calls. Rent are cheap these day is it?

if you didn't knowingly made false declaration, on what ground do you think the bank might recall your approved loan? silly rite they?

your net worth assessment

a bit of contradict your statement. if you also know they have dozen of properties, then how low profile one can be?

unless you are banker.....

From info I get fromthis thread, the banks will recheck ccris before first loan release. Of cos the second house wont be any problem there. But during the third house release they might or might not notice the second loan. At first I am still ok with loan being 70% capped until i get the info from u possibility of loan being cancelled and blacklisting.

Those are my concerns all the while.

This post has been edited by metaclaw: Jan 4 2020, 02:58 PM

Why confine ourself with such thinking? Takkan we don know who among our relatives/friends are rich😂 Businessmen sell assets just like others normal tradegoods. It is not a surprise to know who has multiple assets and it doesnt mean they r very high profile. It might be just their routine trade.

This post has been edited by metaclaw: Jan 4 2020, 03:00 PM

rich doesn't mean they invested heavy on properties.

if they dun tell how do you know how many properties they have?

if they do tell (actually hope that listeners will spread their course), then they are not low profile at all