what is the completion percentage as declared by the developer? if let's say 80 to 90% complete, bank will treat it as subsales and valuation work will be carried out

Anyway to refinance my fully paid apartment, valuation is RM70K. I need to loan RM50K. The problem is I don't have income tax and epf. How to go about in this case,

still can get the loan with payslip tally bank statement

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Added on November 19, 2010, 12:49 amwithout CF cant do inspection

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Added on November 19, 2010, 2:58 amcan..can have a drive
if they cannot try to do refinance if its worth

This post has been edited by carmentee: Nov 19 2010, 02:58 AM

One more help needed, can anyone share their sample letter to bank to request for revise interest rate? thank you very much

sample

To Whom It May Concern,

I would like to request that the interest rate on my loan be reduced. My current rate of <rate> is several points above national average rates and I believe my solid payment history over the last <number> months demonstrates my value to you as a customer. I also believe that my credit rating has increased since I originated this loan.

Thank you in advance for your attention to this matter and please do not hesitate to contact me if you require further information.

Name
Signiture

Address
Phone Number
Email Address
Account Number

hope this can help you

carmen tee yee ping
012 356 5776

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Added on November 19, 2010, 4:05 pmhaha..

This post has been edited by carmentee: Nov 19 2010, 04:05 PM

I kinda fed up with UOB, loan approved 2weeks ago and yet, they couldnt get my LO ready.

you can always call their helpline to check and file a complaint

Do I need to send the letter by hand or by mail will do?

May I know what is LO ?
UOB Bank for Home Loan is okay ?

LO = Letter offer from bank.

If it takes you that long to receive the LO, what of the LI?!

(11Nov2010) Revised SCB Home Loan Board Rate (BLR geared home loan products):

Post moved to [Home Save Consultancy] Mortgage Packages in One T, Mortgage packages Update

This post has been edited by home_save: Dec 20 2010, 12:47 AM

any solid prove or verbal approve?
check properly.

Dear Teddie,

The turnaround timing for the issuance of UOB's LO should be around 48 hours after the confirmation of approval. Prior to Sep, their turnaround time is around 36 hours. There is some delay over the turnaround time due to UOB structural changes in their mortgage arm but shouldn't be 2 weeks. Most probably the problem is associated with the banker who attended you. We do have clients who face the situation whereby the loan is yet to approve, but the banker informed their customers that the loan had been approved to keep the customers waiting for the offer. UOB might take an approval turnaround time for around 3~4 weeks if clients' application is "unusual" (appeal for special rate & conditions, non-EF undercon cases, etc). Std approval should be around 7~14 working days.

Advice: (i) You can go to other banks and pretend to apply loan from them / check with Bank Negera, ask them to check you CCRIS report and see whether is there any approved loan from the banks or not. CCRIS report is able to show whether is there any loan had been approved (the loan amount as well) but they might not be able to identify which bank had given you a loan. If there is any approved loan, thus, it will enforced the confirmation given by the UOB banker. Otherwise, it is the time you need to check with the banker on his/her "confirmation". You have to do it yourself as the banks need your signature on the application form to check your CCRIS.

Or, (ii) call to the branch (where the banker situated), ask the receptionist to direct your call to branch manager instead of the banker (pretend that you do have a business to discuss with the branch manager, advisable not to be in a "complaint tone"), clarify your frustration in a good manner to the branch manager and ask him/her to verify whether your loan had been approved or not. He/she should be able to give you confirmation within seconds (they might not entertain you if you start the call in "complain mode", so you should know what to do). Whether the loan is approved or not, you should know what is the next that you should tell the branch manager right?

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Added on November 20, 2010, 1:52 amDear Titan,

It depends on the conditions specified in the letter of offer and loan agreement, and the type of loan package as well. For std term loan, minimum prepayment amount will be imposed (ie. min 1,000 and multiple of it, min 5,000 and multiple of 1000, etc) and std notice of 1 month must be given (usually we call it a "floor"). Some banks might put a "ceiling" as well, ie, prepayment which cause the utilized amount dropped to less than 2% of the loan will constitute to mandatory full settlement / forced facility call back.

Prepayment ceiling and floor limit might not be an issue if you are using semi flexi / full flexi / full OD type of home loan as these kind of facilities had virtually remove the ceiling and floor as the interest will only be calculated based on the difference between the remaining loan's outstanding and balance in CA which tied up with the loan account.

Thus, you need to study the "Prepayment" clauses which stated in your LO carefully if this is your major concern.





This post has been edited by home_save: Dec 20 2010, 12:50 AM

heh, i have bad experience with UOB Jalan Sultan Ismail branch as well... i am a walk in customer n the loan office name is Anthony. i am not sure wat this guy is up to. he is hardly contactable and hardly reply to SMS. when i say hardly, he actually NEVER bother to call me back. reply to my sms after 1 or 2 days. the day i went to submit my documents, i tried calling him, but he did not pick up. so i left my docs to his colleague.. the funny thing is, when his colleague call him, he pick up her call. we tried to call him again few days after that to check on the status, but he never bother to pick up also.

we feel something is not right so we decided to resubmit again directly to the HQ on 10 or 11 Nov. i called to check on the status just now, it is still under processing and the officer who submitted the loan is the officer from the HQ and not this MR ANTHONY!

so my question is, where has my first application gone?? did MR ANTHONY submitted at all??

u get incentives or commission for any loan approval, u r not doing it for free... what kind of attitude is this...

i will call his branch manager to complaint about this.

Is it all UOB Branch is like that ? or Only UOB at Jalan Sultan Ismail is that Bad only.
Plan to get UOB Loan, but not this Branch...

I see..

If Mr.anthony didnt submit ur doc...
U can go to branch and ask him return ur doc...

sample

To Whom It May Concern,

I would like to request that the interest rate on my loan be reduced. My current rate of <rate> is several points above national average rates and I believe my solid payment history over the last <number> months demonstrates my value to you as a customer. I also believe that my credit rating has increased since I originated this loan.

Thank you in advance for your attention to this matter and please do not hesitate to contact me if you require further information.

-----------------------------------------------from previous experience, the banks wont reduce much.
erm, if u submit interest reduction form, what rate u guys get. it differs from bank to bank

This post has been edited by airline: Nov 21 2010, 09:24 AM

Hi..can anyone provide me sample letter requesting to extend the 14 day period to signs s&p agreement.i'm still waiting for loan approval.

Suggestion is go for refinancing if the lock-in period had lapsed. It will drive your current financier to counter offer at a better rate (ie. HLB, PBB), thus, you don't have to write this kind of letter to "beg" for a better rate.