Hi everyone, I recently got a letter from the developer saying that the house that I bought is now ready for VP. Also stated in that letter is the amount that I need to pay before moving in (water deposit, fire insurance, quit rent and etc.). They also included amount for Total Interest Outstanding To-Date (called the developer and they explained that this is basically late payment charges which is charged based on the amount of progress payment claimed from the bank). I was quite shocked when I saw the amount and it was charged to me.

Can anybody offer any advice regarding this?

Does the developer have the right to do this? The payment claim process is between them, the legal firm and the bank.

From what I see, I only need to pay for the loan to the bank and nothing else (except for the water deposit, fire insurance and etc) and I have been paying my loan on time every single month.

Your help is much appreciated.

Happened to me for my first house

Amount not big less than rm2k

I talk to my banker

He said I pay first and claim later coz this is bank fault

But i never claim because too bz that time

But happened to my friend recently and his house almost rm1 million and total charges goes to rm13k

He talk to his lawyer and his lawyer will look into this

Mine is 4.4k+. Got the ball rolling with the developer to check if it's their fault that the payment is delayed. Also got my loan officer to check and she confirmed that bank didn't delay any payment. Now waiting for developers answer.

1. get developer to waive if it's not due to lawyer/bank fault
2. get lawyer to bear if it's clearly their fault
3. get back to bear if it's clearly their fault
4. if it's your fault (due to didnt open bank account / late to sign the loan documents / late to pay differential sum / didnt do health check for MRTA) then too bad u need to pay, nobody will do charity to pay for u.

if u want key fast - pay first, later only claim from the responsible party.

dont expect it to be settled/refunded within 1 week.

the parties also need to do chronology of events and you're not the only client for the bank/law firm so your patience is appreciated.

if can settle within 2-4 weeks is normal.

1. Developer currently checking and bank officer confirmed that the bank didn't delay on releasing the payment
2. This one I need to contact the lawyer and check
3. This one I will request for chronology for the banker
4. Noted that people will do charity for me but for my part, I have completed everything swiftly. Once confirmed the bank loan that I need, I immediately met up with the bank officer to get the loan signed. Then met up with the lawyer with as soon as they called me to meet to sign legal documents.

Thank you for the advice . Just wanted to know if this is a normal thing. And since you say that it is better to pay first and claim later, I might proceed with that.