Hi..

Newbie here..Can somebosy give me some clue?

If i'm taking a bank loan, should i use lawyer appointed by the bank or i can choose my own lawyer?

If the bank have a list of lawyer firms under their panel can i choose my own and compare which lawyer firm giving best rate? Or it's already decided by the bank and we can not choose our own?

Thanks in advance!

U can use your own lawyer.

If your lawyer is under the Bank panel. You can have the legal subsidy.

If your lawyer is not under the Bank panel, you will not have the legal subsidy.

That is the only different.

U can use your own lawyer.

If your lawyer is under the Bank panel. You can have the legal subsidy.

If your lawyer is not under the Bank panel, you will not have the legal subsidy.

That is the only different.

Hi,

Thanks for the reply.

How about hdb lawyer? I heard that their lawyer fee is much cheaper than law firm. But i read in hdb website that hdb lawyer can only act on behalf of hdb, whilst for bank loan i still need to use lawyer appointed by bank. Do you have any idea how much is law firm charge just for soliciting bank loan? Just wondering should i engage hdb lawyer separately or just use bank appointed lawyer to do all. which way is cheaper? Thank you

HDB lawyer is far far more cheaper than Bank lawyer but if you are taking bank loan. You cannot use HDB lawyer.

HDB lawyer is for those taking HDB loan.

If you are taking bank loan, forget about HDB lawyer. You can't engage them.

If you are using your own lawyer, ask him/her, can he/she represent the Bank, CPF and HDB.

HDB lawyer is far far more cheaper than Bank lawyer but if you are taking bank loan. You cannot use HDB lawyer.

HDB lawyer is for those taking HDB loan.

If you are taking bank loan, forget about HDB lawyer. You can't engage them.

If you are using your own lawyer, ask him/her, can he/she represent the Bank, CPF and HDB.

Oh i c..

Well then do you know how much is the law firm normally charge to do the paperwork? Any guideline?

Heard that some law firm will increase their fees from the normal fee due to the need to pay referral fees to the agent.

Thanks alot!

http://www.renotalk.com/forum/index.php?showtopic=31608

http://www.renotalk.com/forum/index.php?showtopic=18150&st=0&p=612654&hl="lawyer%20fee"&fromsearch=1entry612654

http://www.renotalk.com/forum/index.php?showtopic=31954&st=0&p=554203&hl="lawyer%20fee"&fromsearch=1entry554203

U mention you had your own lawyer.

Ask your lawyer.. how much he/she charge.

Then ask your bank officer for their lawyer panel list.. then u ask for few quota...

I never take Bank loan for HDB. Hence don't know what is the normally charge.

I read from http://forums.hardwarezone.com.sg/homeseekers-homemakers-74/legal-fee-doubts-2600433-2.html

Some one say

For what i understand, lawyer are not allow to pay referral fee to anyone. If you know of any lawyer who collect referral fee, just report him to singapore law acedemy.

Don't know true or not.

If you want to confirm, you can check with Law Society.

IMO, if you like the service of your lawyer had provide you previously. Use back them.

Not all lawyer service is up to standard.

I come across a lawyer (referral by the Bank officer) **** screw up. No follow up. No news , No picture. No sound. Email + SMS. Still no picture, no sound, no news.

So screw up until we got so piss off that we file a complain to Law Society.

Letter ding ding dong dong for nearly 1 yrs plus then settle.

Told the bank officer about the lawyer case. He just say.. Oh!!!! he don't know.. + smile..

I told my spouse.

Stick to our own lawyer even her quote may not be the cheapest.

At least we know.. she will handle it well.

Every letter she sent out. She CC you a copy.

http://www.renotalk.com/forum/index.php?showtopic=31608

http://www.renotalk.com/forum/index.php?showtopic=18150&st=0&p=612654&hl="lawyer%20fee"&fromsearch=1entry612654

http://www.renotalk.com/forum/index.php?showtopic=31954&st=0&p=554203&hl="lawyer%20fee"&fromsearch=1entry554203

U mention you had your own lawyer.

Ask your lawyer.. how much he/she charge.

Then ask your bank officer for their lawyer panel list.. then u ask for few quota...

I never take Bank loan for HDB. Hence don't know what is the normally charge.

I read from http://forums.hardwarezone.com.sg/homeseekers-homemakers-74/legal-fee-doubts-2600433-2.html

Some one say

Don't know true or not.

If you want to confirm, you can check with Law Society.

IMO, if you like the service of your lawyer had provide you previously. Use back them.

Not all lawyer service is up to standard.

I come across a lawyer (referral by the Bank officer) **** screw up. No follow up. No news , No picture. No sound. Email + SMS. Still no picture, no sound, no news.

So screw up until we got so piss off that we file a complain to Law Society.

Letter ding ding dong dong for nearly 1 yrs plus then settle.

Told the bank officer about the lawyer case. He just say.. Oh!!!! he don't know.. + smile..

I told my spouse.

Stick to our own lawyer even her quote may not be the cheapest.

At least we know.. she will handle it well.

Every letter she sent out. She CC you a copy.

Thanks alot for your advice!!!

hi therat, i got a bank loan 5 yrs ago for S$80k only from UOB ...

yesterday then found out that they say i can do partial payment.

And is it true that I must engage a LAWYER if i need to do full or partial payment ? (bank say so but i cant find anything in the contract ?)

And is it true there is still a Mortgage Deed hold by the bank ? I thought now HDB say no more DEED ?

because bank say need engage lawyer so as to take out the DEED, if not keep in the bank every year collect S500 from me ... whta is this all about ??

anyone know about this pls enlighten me ... thank you you in advance ... xie xie

Partial payment mean.. u only pay some.. not all the loan.

Bank HDB loan.. I don't know..

neven take before.

For private property bank loan, partial payment don't need lawyer. Just wrote bank a letter, give enough notice period. Will do.

Then login online CPF to adjust the CPF payment amount.

My deed is kept by HDB. My spouse say HDB keep better.. in case we lost it or misplace or touch wood.. house tio fire.. all gone.

Partial payment mean.. u only pay some.. not all the loan.

Bank HDB loan.. I don't know..

neven take before.

For private property bank loan, partial payment don't need lawyer. Just wrote bank a letter, give enough notice period. Will do.

Then login online CPF to adjust the CPF payment amount.

My deed is kept by HDB. My spouse say HDB keep better.. in case we lost it or misplace or touch wood.. house tio fire.. all gone.

sorry, i write wrongly, bank say cannot do partial repayment ...

now they say i must find a lawyer to write them a letter for doing full payment and at the same time take out the DEED , if not they will charge S$500 per year for them to keep ... ??? !@#$%^&

sorry, i write wrongly, bank say cannot do partial repayment ...

now they say i must find a lawyer to write them a letter for doing full payment and at the same time take out the DEED , if not they will charge S$500 per year for them to keep ... ??? !@#$%^&

For bank loans, to effect any "changes", beside cpf monthly instalment(PMT), mortgagee(borrower)need to engage a pte lawyer to talk to mortgagor's lawyer for the stated intention. So, mortgagee (borrower) needs to:

- Pay "lawyer fee" for the service + "penalty" if the request falls out of borrower's rights in the stipulated mortgage contract. Example: to do full redemption within lockin period, to make lumpsum partial repayment within lockin, etc, etc.

- You must understand this(hdb unit): When u take a mortgage loan, meaning bank pays full to HDB "on your behalf", so bank possess the "title deed". Upon full redemption, you can either take back the title deed or remain the title deed in bank's hand (trust/trustee agreement)which requires you to pay a fee for the "trust service" - something very similar to banks' "safebox service".

- Lawyer fee for full redemption is abt $500~$600.

In short, You CAN do full redemption, provided u pay a "penalty sum" - usually at 1.5% of the outstanding amount. Must engage lawyer for such transaction....

Sit down and read your LO line by line, words by words.

If do full payment, not just the 1.5% penalty fee. If the lock in period is over, don't think has this 1.5% penalty. But you need to find out the craw-back fee.

craw-back period is different from lock in period.

Most of the bank I come across is 3 yrs for the craw-back period.

Those free thing you took from the bank when you took up this loan. Bank will ask you to 'vomit' out.

You need to find out.. how much you need to 'vomit out'.

Some bank want 100%, some one pro-rated.

For bank loans, to effect any "changes", beside cpf monthly instalment(PMT), mortgagee(borrower)need to engage a pte lawyer to talk to mortgagor's lawyer for the stated intention. So, mortgagee (borrower) needs to:

- Pay "lawyer fee" for the service + "penalty" if the request falls out of borrower's rights in the stipulated mortgage contract. Example: to do full redemption within lockin period, to make lumpsum partial repayment within lockin, etc, etc.

- You must understand this(hdb unit): When u take a mortgage loan, meaning bank pays full to HDB "on your behalf", so bank possess the "title deed". Upon full redemption, you can either take back the title deed or remain the title deed in bank's hand (trust/trustee agreement)which requires you to pay a fee for the "trust service" - something very similar to banks' "safebox service".

- Lawyer fee for full redemption is abt $500~$600.

In short, You CAN do full redemption, provided u pay a "penalty sum" - usually at 1.5% of the outstanding amount. Must engage lawyer for such transaction....

i borrow S$80k for 10 yrs only. lock-in is 3 yrs type

they say cannot partial due to now amount less than S$50k (wtf)

the issue i want to fight here is where got black and white say must engage lawyer when i want full payment ??

the contract never say so ??

and the so call "trust service" fee is so expensive ??? S$500 per year for them to keep ur title deed ??

thanks !

Hi, any one has any recommendations for reliable law firms doing loan redemptions?

The lowest quote i got was $700 nett. i also checked the bank's panel lawyers and they were charging higher.

thank you!