LingEr

u r really very brave to have exercised the OTP b4 securing a loan... u signed ur OTP at the lawfirm? did the lawyer advise u on the consequences? as a side note, pls never exercise ur OTP before securing a bank loan cos u might not know wat will happen... u have 14 days to exercise the OTP, it is long enuff to find a bank who can give u an LO... not trying to scare u... u r pretty comfortable as u have stashed some cash as backup... have u ever tot of the scenario tat the bank will totally do an extensive check on you and your co-borrowers? and tat the loan will be rejected totally? they dun even give u a chance to get a lower financing of 70%? there r such cases whereby banks totally rejected a home loan application... everyday the banks will just reject a few with poor records n other reasons... whichever bank u go to, while u r waiting for the LO to be given to u, every phone call from ur banker will be a torture to u... as long as its not telling u tat ur LO is ready for collection... so pls, faster secure ur loan now...

ya, i totally understand your pt... actually rite now, most of the banks will give lower valuation compared to the purchase price tat we bought... if the valuation price really differ quite a bit with the purchase price, more cash have to be top upfront...

banks will also charge a higher interest if the QOF is lesser than 80%... for eg, OF at 70% or 60%... the general better rates are reserved for 80% only...

hi all, i have just bought a resales condo in may... now waiting for my 2nd appt with the lawyer and 3rd appt to collect my key... i gotten my loan from scb... Cheers,

wow... i tink mr yeak should be quite good... i have yet to collect my key... but was thinking of getting the quotes from mr yeak 1st so tat i can know how much to set aside for reno... any idea if i am doing basic reno, how much would it cost? just painting, polishing the marble and parquet, tv consoles, rewiring? thanks...