oh.
this is new. thanks
but the <RM500k limit

yeah 😅 limited to smaller high rise or non-klang valley property.

sadly i dont have friends working in bank mortgage area, otherwise i can ask more to understand how bank really release payment to Seller.

thanks and appreaciate your input, i gained alot from ur input

Glad to help even if it’s a bit

Can I clarify the following are the miscellaneous fees for buying a new or subsale property

1) stamp duty for MOT (which is also stamp duty for SPA)
2) legal fees for SPA
3) legal fees for loan
4) stamp duty for loan
5) loan processing fees
6) disbursement fees

Anything else I m missing out?
And how much each of these cost usually when taking consideration of the property price (is it 5% of the selling price)
Tq

Valuation fee
MRTA

Can calculate the standard fees for stamp duty and legal fees from the following graphic:

Dear all,

I have a question on MRTA. If loan is 100k, MRTA is 3k, tenor 10 years - and the loan is refi in year 3 immediately after lock-in period with another bank, would the borrower stil need to settle the balance unpaid MRTA?

Thanks

Under 3rd party loan, if the borrower’s name is not in the SPA,
does the Borrower enjoy stamp duty waiver on loan agreement under HOC?

Not sure, need to ask lawyer about it.

Most bank will required borrower name to be listed in SPA nowadays.

Hi - could anyone shade some light?

I have a question. Developer submitted progressive billing to me and bank, but my panel loan lawyer (with developer since it's free) hasn't received a disclaimer letter from the developer and my loan processing tersangkut for 6 months now.

The progressive billing is overdue. I want to ask:

1. Will I be responsible for the late payment? I signed the loan documents in May 2021.
2. Will I be eligible for the free stamp duty? If the loan processing takes longer than this year?

Thanks!

1. Check with developer why disclaimer letter not issued. If is their fault, then the developer should not charge for late payment.

2. No. All claims under hoc must be completed on or b4 31.12.21.

For MRTA, if u refinance, there’s a chance the bank u refinancing with will require you to get another insurance to cover the loan

from what i understand in the PUA, borrower name must be in SPA.

"Stamp duty shall be exempted in respect of any loan agreement to finance
the purchase of residential property under the Home Ownership Campaign 2021,
the value of which is more than three hundred thousand ringgit but not more than
two million five hundred thousand ringgit, executed between an individual named in
a sale and purchase agreement and..."

This post has been edited by hanhanhan: Nov 22 2021, 04:55 PM

I sold my property recently. The property has outstanding loan with HL and the new financier (CIMB) had transferred the balance for full redemption in mid Nov. However, HL still proceed to deduct my loan servicing account for the installment in Dec. I contacted the HL staff who handled my redemption to understand why and learnt that they were not aware of the funds being transferred to them... Shortly after me telling them, they updated my loan account with a negative balance now (cos they have deducted in excess).

I asked for the refund of my Dec installment + the balance of the pro-rated Nov installment but was told that she only looks after redemption process and that my lawyer should liaise with another dept within HL. I asked for the contact number but she refused to provide 😑 and claimed that my lawyer should know? Technically my lawyer is the buyer's lawyer but I also paid for her service to help me run the docs required.

HL is super messy, ultra slow and very cincai. I don't know why they issued a redemption statement to me when I'm the seller and charged an admin fee for it. The redemption statement should be addressed to CIMB to inform them how much my loan balance is. When asked why, they issued a fresh redemption statement to CIMB and charged me another admin fee 🙄

My questions are: what is the correct process? Should my lawyer know which dept in HL she should go to or I should be the one chasing? I have not signed the Deed of Reassignment.

The 1st rule for any payment .....NEVER use auto debit. You should never allow a third party to control your money.

As the borrower, you have to request for a refund.

Hi sifu, can ask about the stamp duty exemption (property <500k) for first home buyer - I've never purchase property before but my parents recently transfer their house ownership to me. Will I be eligible for the stamp duty exemption if I transfer the ownership of the inherited home to my sibling and then after that buy my first property?

This post has been edited by chriskk: Dec 28 2021, 12:24 PM

No