Hi bros,

Bank's lawyer firm received my loan offer letter a week ago.
How long more to go, so i can sign my loan agreement ?
Worried about my house and loan release.

What documents needed ?
They only asked me to fax them S&P Agreement few days ago.

This post has been edited by dvinez: Apr 15 2009, 02:45 AM

Should be around 2 weeks before lawyer call you up to sign the loan agreement.
If you wonder what's the process stage now, you may always call your lawyer and ask them. They should have a log file to show the status of the process. (Not sure about others law firm, but mine law firm do have it )

it can be from days to weeks. one thing, why u need to fax them the sNp ? your lawyer is the one that do the job. basically, u need not to submit them anything.

another thing, why are you so eager to sign the loan agreement, once signed, the bank will release the money to the seller, and you need to pay interest from that day on.

just take it easy, max period is 3 months for freehold unit.

Cos I signed my SNP of 30th March, I afraid I dont have enough time.
My lawyer deliver the original and a copy SNP to me on 7th April.

On 9th April bank's lawyer receive my offer letter, and asked me to fax over the SNP.

I called yesterday, the lawyer clerk said bank havent pass them the letter of instruction.

This suxxx...

You HAVE to pass them the SPA as this is the loan agreement lawyer acting FOR THA BANK not you...so you have to provide vital information for the to proceed with the loan..with the copy the can proceedwith the loan agreement pending the stamping of the SPA.

Next when did you sign the offfer letter...the bank usually issue the letter of instruction within 1 week.....

Next thing is dont worry abt the timeline as it usually takes about two months if they are prompt but anyway do keep urself updated as bcoz many(i mean many) law fims tend to screw up the loan process since its a very time sensitive process...

My SNP signed on 30th March.
I signed loan offer letter on 25th March.

They just have so many excuses that I doubt it so much.


Today is already 15th April, yet the loan agreement is still pending.

This post has been edited by dvinez: Apr 15 2009, 10:50 PM

for my case, it took 5 weeks+ for the bank to release the intruction letter. the excuse was i'm not using their panel lawyer.....

dvinez, better chase your bank

This post has been edited by onlinefever: Apr 16 2009, 12:56 AM

call up the bank....most banks use the branch system so its easier...if not they issue intruction from the mortgage loan centre's...

I agree with onlinefever that if you use non panel lawyers there will be a slight delay but it should be minimal as they vet the legal firms during the loan application process for most banks...but i have to admit different banks have different system...

means to call up my banker or bank customer service ?

i think you should call both of them..the banker will be more knowledgable as they usually assign the lawyer on the bank's behalf

and its better to call the bank customer servie to get the facts right...most of the time the banker will side with the lawyer....