QUOTE(Kaysl @ Dec 27 2007, 11:20 PM)
To lessen the effect of abandonement...should ask your end-financier (if any, if not yourself through your lawyer) to redeem your unit from the bridging financier. This will avoid any additional redemption sum that might be imposed from the bridging bank (MBB, in this case) that will add on to your purchase price in the event of abandonement.
btw, we took up ING's 5.99% fixed loan. Lock-in period is 3 years from the date of 1st drawdown. why? Coz we want a peace of mind. =)
Our loan lawyer's fee was about 2.8k
Nice to meet all of you. Cheers and HAVE a happy new year neighbours!
Nice to hear from you and info given, we were just wondering where the 'thread starter' been. Haha... Alan has made a good effort trying to arrange a gathering but unfortunately not happened due to lack of 'quota'.
Myself has as well taken ING's 5.99% fixed loan, was trying for AIA initially but they do not go for incompleted project.
I am not quite understand on the following statement:
" To lessen the effect of abandonement...should ask your end-financier (if any, if not yourself through your lawyer) to redeem your unit from the bridging financier. This will avoid any additional redemption sum that might be imposed from the bridging bank (MBB, in this case) that will add on to your purchase price in the event of abandonement. "
Kaysl or someone can elaborate more?
Thanks & Regards.