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louisecheng
Joined: 25 Apr 2006
Posts: 71
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 Posted: Tue Apr 25, 2006 5:05 pm Post subject: |
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Hi neighbours, i'm Louise.. a new VP buyer... Block A, 5th Flr
Carine, when will be the official launching? |
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carine
Joined: 24 Apr 2006
Posts: 16
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| Posted: Tue Apr 25, 2006 7:16 pm Post subject: |
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Hi joese98 and louisecheng,
I heard the official launching date in on 20 and 21th May, 2006. I will confirm with agent again. They will serve with some food and make announcement during the press conference to announce how many units that has been sold. I think is quite beneficial to attend the launching because i think everyone of us are keen to know how many units left...and potential growth of our house..  |
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Malaysian
Joined: 04 Sep 2005
Posts: 140
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| Posted: Tue Apr 25, 2006 8:46 pm Post subject: |
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Wow! Joese, good work to promote the apartment. There should still be a lot of owners who still not aware of this forum. Maybe we can even have a big enough group for gathering or teh tarik session! One day lah!
Villa Pavilion neighbours list:
1. Malaysian, 4th floor
2. joese98, 7th floor
3. Dyno Thane
4. wesley00, 5th floor
5. Louise, 5th floor
6. Kamaljit, 8th floor
7. carine, 7th floor
8.
9.
10.
Carine, I didn't realize they were going to have an official launching. So far, this developer seems quite low-profile on the marketing and publicity activities, although they still managed to sell ok. |
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louisecheng
Joined: 25 Apr 2006
Posts: 71
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| Posted: Wed Apr 26, 2006 10:04 am Post subject: |
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Carine, thanks for ur infor...
I'll arrange my time to go for the launching, if u guys coming also, we can meet up over there  [/code][color=violet][/quote] |
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Malaysian
Joined: 04 Sep 2005
Posts: 140
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| Posted: Wed Apr 26, 2006 11:10 pm Post subject: |
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Hi, Louise. Good idea.
Those who have the confirmed date of official launch, do post it up here. Maybe we can even meet up around lunch time on a Saturday. |
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kamaljit9
Joined: 27 Apr 2006
Posts: 4
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| Posted: Thu Apr 27, 2006 3:42 am Post subject: |
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Hi everyone. Nice to meet all you current and future pavillioners. Hats off to joese for arranging all this. good job!
Anyway, my unit on the 8th floor, but i have not finalized my loan agreement yet. Hence , the following questions :
1)Joese , if you dont mind , what kind of offer you received from hong leong?
2)Which lawyer do u all recommend ( in case i go along with hong leong that is ). So far i see joese got the cheapest loan agreement fees.
3)If i decide to forgo the 0% during construction offer , how much will the interest be ? it would be helpfull if someone can clarify on how the interest calculation works. A rough estimate will do....
4)why do the developers offer the 5k cash if you choose someother loan package or finance inst?
Thanks in advance. |
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carine
Joined: 24 Apr 2006
Posts: 16
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| Posted: Thu Apr 27, 2006 11:58 am Post subject: Loan Agreement |
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I planed to hire my own lawyer initially, actually is my cousin. However, I was told by the banker , we are not able to hire our own lawyer unless they are panel.
When i try to apply for the loan, i was not told i need to use their lawyer until I am going to sign loan agreement. Something that i dont really like it. I am not sure whether we have our right to fight for hiring our own lawyer. I hvnt sign any loan agreement yet.  |
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louisecheng
Joined: 25 Apr 2006
Posts: 71
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| Posted: Thu Apr 27, 2006 12:20 pm Post subject: |
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| kamaljit9 wrote: | Hi everyone. Nice to meet all you current and future pavillioners. Hats off to joese for arranging all this. good job!
Anyway, my unit on the 8th floor, but i have not finalized my loan agreement yet. Hence , the following questions :
1)Joese , if you dont mind , what kind of offer you received from hong leong?
2)Which lawyer do u all recommend ( in case i go along with hong leong that is ). So far i see joese got the cheapest loan agreement fees.
3)If i decide to forgo the 0% during construction offer , how much will the interest be ? it would be helpfull if someone can clarify on how the interest calculation works. A rough estimate will do....
4)why do the developers offer the 5k cash if you choose someother loan package or finance inst?
Thanks in advance. |
Hi all,
I'm also not yet finalise my loan matter yet. Still seeking advise. Kamaljit, have you check out with any banks other than HLBB?
The VP agent told me that the bankers will contact me. Waited for few days oredi. Therefore me & partner work on our own to find out bout the various bank offers.
I agreed that joese got the cheaper legal fee for loan agreement. I checked UOB, if i borrow 90%, the legal fee is about RM3100. Joese, do u mind to tell me how many % u borrow from HLBB? I think the legal fee will be higher if we borrow higher %.
Thanks in advance,
Louise |
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joese98
Joined: 16 Mar 2006
Posts: 83
Location: K.L.
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| Posted: Thu Apr 27, 2006 1:48 pm Post subject: Villa Pavilion Apartment |
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For myself, before taking any of the housing loan from any FI, whether it's local or foreign, I considered the following:
1. Can I make the payment via internet? I prefer internet banking than any other methods. My current online account cannot transfer money to UOB.
2. You guys can check out the Housing Loan calculator from AmBank: ..ambg.com.my to find out the estimated monthly installment and the break down. So far, AmBank loan calculator is the best among others. It's very flexible and user-friendly! 
So tht you can compare the loan packages offered by the mortgage officers.
I didn't take the 0% interest during construction was because the interest during construction it's not tht high. Guess the RM5k rebate could cover the interest. At the mean time, not thinking of re-finance the loan in the future. Tht's why need to find something which benefits in long run. I'm taking 90% loan without MRTA.
3. As for the lawyer for loan agreement, I engaged the developer's lawyer to draw out the loan agreement for me. Reason being is time-saving as need not to send the documents from one lawyer to another since the same lawyer did the S&P agreement.
But then some ppl prefer to engage their own lawyers to protect them instead of using the developer's lawyer.
Hope it answers your questions!
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louisecheng
Joined: 25 Apr 2006
Posts: 71
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| Posted: Thu Apr 27, 2006 4:43 pm Post subject: Re: Villa Pavilion Apartment |
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| joese98 wrote: | For myself, before taking any of the housing loan from any FI, whether it's local or foreign, I considered the following:
1. Can I make the payment via internet? I prefer internet banking than any other methods. My current online account cannot transfer money to UOB.
2. You guys can check out the Housing Loan calculator from AmBank: 'ambg.com.my to find out the estimated monthly installment and the break down. So far, AmBank loan calculator is the best among others. It's very flexible and user-friendly!
So tht you can compare the loan packages offered by the mortgage officers.
I didn't take the 0% interest during construction was because the interest during construction it's not tht high. Guess the RM5k rebate could cover the interest. At the mean time, not thinking of re-finance the loan in the future. Tht's why need to find something which benefits in long run. I'm taking 90% loan without MRTA.
3. As for the lawyer for loan agreement, I engaged the developer's lawyer to draw out the loan agreement for me. Reason being is time-saving as need not to send the documents from one lawyer to another since the same lawyer did the S&P agreement.
But then some ppl prefer to engage their own lawyers to protect them instead of using the developer's lawyer.
Hope it answers your questions!
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Thanks joese, very useful infor. I'll check out on that.
Thanks again,
Louise |
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kamaljit9
Joined: 27 Apr 2006
Posts: 4
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| Posted: Fri Apr 28, 2006 1:12 am Post subject: |
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Dear all,
Due to my recent uncertaintees, i went to the developer's office and managed to have a very informative chat with one of their agent there. This are some of the usefull information i collected :
1) not everyone is given the 5k rebate for choosing a different FI or a different HLB package. It all depends on what unit you purchased and when you purchased it. I was only entitled 3k rebate.
2) The interest during construction can be a little hefty , especially if the construction gets delayed. Anyway , i will just show a bit of calculation on the interest :
Just say you took a loan for 130,000 and the 1st year you have to pay blr - 2%. The bank will pay the developers in stages , if im not mistaken , in 9 stages , based on their percentage of work done.
Progressive interest = ((Amount disbursed x Percentage released)xLoan
Interest) / 12 months
E.g of calculation :
When the bank releases the 5th installment , i.e 50% of the money
Interest = ((130000 x 50% ) x 4% ) /12
= (65000 x 4%) /12
= 2600 / 12
= $216
So everytime , the bank releases cash , you will have to pay the interest based on the calculations above. I'm not exactly 100% sure it the above is correct , but that is what was given to me. Feel free to correct me if im wrong anywhere.
3) The STP or Waste Treatment Plant will be constructed around the area, but only for VP usage. I was assured that with the technology available today, the STP will be almost "invisible" to everyone. It will be covered, and they may even plant grass on it , to beautify it.
4) As for the lawyer fees , joese's advise is highly recommended. Go for the developer's lawyer that processed your SNP , it will cut cost and time. But if you do have a friend who can do it , you need to confirm with the bank if he or she is under the bank's panel lawyer list. There cannot be an official discount for the legal fees and stamp duty. But unofficially , you may negiotiate with the lawyer for it. Look to pay around 2700 - 3000 for a $130000 loan.
As for me , im going with the 0% HLB package , and refinance it after 5 years. I just hope our BLR dont shoot up to 10% by then . |
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Wesley00
Joined: 21 Apr 2006
Posts: 55
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| Posted: Fri Apr 28, 2006 10:14 am Post subject: |
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| kamaljit9 wrote: | Dear all,
Due to my recent uncertaintees, i went to the developer's office and managed to have a very informative chat with one of their agent there. This are some of the usefull information i collected :
1) not everyone is given the 5k rebate for choosing a different FI or a different HLB package. It all depends on what unit you purchased and when you purchased it. I was only entitled 3k rebate.
2) The interest during construction can be a little hefty , especially if the construction gets delayed. Anyway , i will just show a bit of calculation on the interest :
Just say you took a loan for 130,000 and the 1st year you have to pay blr - 2%. The bank will pay the developers in stages , if im not mistaken , in 9 stages , based on their percentage of work done.
Progressive interest = ((Amount disbursed x Percentage released)xLoan
Interest) / 12 months
E.g of calculation :
When the bank releases the 5th installment , i.e 50% of the money
Interest = ((130000 x 50% ) x 4% ) /12
= (65000 x 4%) /12
= 2600 / 12
= $216
So everytime , the bank releases cash , you will have to pay the interest based on the calculations above. I'm not exactly 100% sure it the above is correct , but that is what was given to me. Feel free to correct me if im wrong anywhere.
3) The STP or Waste Treatment Plant will be constructed around the area, but only for VP usage. I was assured that with the technology available today, the STP will be almost "invisible" to everyone. It will be covered, and they may even plant grass on it , to beautify it.
4) As for the lawyer fees , joese's advise is highly recommended. Go for the developer's lawyer that processed your SNP , it will cut cost and time. But if you do have a friend who can do it , you need to confirm with the bank if he or she is under the bank's panel lawyer list. There cannot be an official discount for the legal fees and stamp duty. But unofficially , you may negiotiate with the lawyer for it. Look to pay around 2700 - 3000 for a $130000 loan.
As for me , im going with the 0% HLB package , and refinance it after 5 years. I just hope our BLR dont shoot up to 10% by then . |
Hi kamaljit9,
I am also taking the 0% HLB package, but I feel a bit confusing about this package.
Let’s say the loan period is 30 years. When they start calculate the year? Once we get the CF? Or once the developers pay the progressive installment for us? Or the date from loan agreement?
Thanks in advance. |
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Wesley00
Joined: 21 Apr 2006
Posts: 55
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| Posted: Fri Apr 28, 2006 10:19 am Post subject: |
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Dear all,
Last nite i saw from newspaper, UOB bank already announce BLR increase to 6.75% start 1st May. I think the other banks may also increase soon  |
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joese98
Joined: 16 Mar 2006
Posts: 83
Location: K.L.
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| Posted: Sun Apr 30, 2006 9:21 am Post subject: Villa Pavilion Apartment |
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Hey, check out the VillaMas official website for latest site progression..  |
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kamaljit9
Joined: 27 Apr 2006
Posts: 4
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| Posted: Mon May 01, 2006 1:14 am Post subject: |
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Wesley,
From what i understand , if you take the 0% HLB offer , you will only start paying for the loan once you get the CF.
So , i guess if you take the 30 years loan , the loan duration will be 30 years + construction period ( but you are not paying anything during construction ).
Again... its only a guess , better confirm it with HLB. |
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Wesley00
Joined: 21 Apr 2006
Posts: 55
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| Posted: Mon May 01, 2006 12:10 pm Post subject: |
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| kamaljit9 wrote: | Wesley,
From what i understand , if you take the 0% HLB offer , you will only start paying for the loan once you get the CF.
So , i guess if you take the 30 years loan , the loan duration will be 30 years + construction period ( but you are not paying anything during construction ).
Again... its only a guess , better confirm it with HLB. |
I guess so. Thanks. |
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raihanah
Joined: 04 May 2006
Posts: 5
Location: Cheras,KL
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| Posted: Thu May 04, 2006 11:05 am Post subject: New buyer! |
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| Hi im a new buyer in VP.2nd floor and corner lot.RM161800.Im using government loan. |
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raihanah
Joined: 04 May 2006
Posts: 5
Location: Cheras,KL
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| Posted: Thu May 04, 2006 11:08 am Post subject: |
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| Malaysian wrote: | Wow! Joese, good work to promote the apartment. There should still be a lot of owners who still not aware of this forum. Maybe we can even have a big enough group for gathering or teh tarik session! One day lah!
Villa Pavilion neighbours list:
1. Malaysian, 4th floor
2. joese98, 7th floor
3. Dyno Thane
4. wesley00, 5th floor
5. Louise, 5th floor
6. Kamaljit, 8th floor
7. carine, 7th floor
8. raihanah, 2nd floor
9.
10.
Carine, I didn't realize they were going to have an official launching. So far, this developer seems quite low-profile on the marketing and publicity activities, although they still managed to sell ok. |
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MMW
Joined: 18 Apr 2006
Posts: 67
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| Posted: Thu May 04, 2006 12:29 pm Post subject: |
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Hi,
I'm Amir, VP 12th Floor. I went to the site last Sunday 7th. Block B, the 4th Floor already under construction. Looking at the rate of construction, Block B will probably be ready for occupancy middle of next year.
Heard from the staff there that the STP will be built, but only to cater for VP occupants. To be built outside the fenced area of VP.
AMIR |
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MMW
Joined: 18 Apr 2006
Posts: 67
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| Posted: Thu May 04, 2006 12:33 pm Post subject: |
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Opps sorry looking at the wrong week  . Last Sunday 30th April. |
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joese98
Joined: 16 Mar 2006
Posts: 83
Location: K.L.
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| Posted: Thu May 04, 2006 12:37 pm Post subject: Villa Pavilion Apartment |
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Welcome onboard, raihanah
Hey all, saw this from paper. The FD rate and BLR from all FIs:
FI, FD Rate (1 year), BLR
1. BCB, 3.70, 6.75
2. MayBank, 3.88, 6.75
3. Public Bank, 3.70, 6.50
4. RHB, 3.80, 6.75
5. Affin Bank, 3.70, 6.80
6. Southern Bank, 3.70, 6.75
7. Hong Leong Bank, 4.00, 6.75
8. EON Bank, 3.90, 6.75
9. AmBank, 3.90, 6.75
10. StanChart, 3.70, 6.75
11. HSBC, 3.70, 6.75
12. OCBC, 3.70, 6.50
13. Citibank, 3.70, 6.80
14. UOB, 3.70, 6.75 |
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zuten
Joined: 20 Mar 2006
Posts: 31
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| Posted: Fri May 05, 2006 4:43 pm Post subject: |
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how much is the average legal fees and all other fees related to the bank loan you all have to pay?...My friend is thinking of buying a unit there but one lawyer said he needs to pay legal fees $1500 and other stamping fees and such $2000...(she's talking about loan around 146k)...
damn lawyers making us pay extra... |
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Malaysian
Joined: 04 Sep 2005
Posts: 140
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| Posted: Sun May 07, 2006 8:07 pm Post subject: |
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Villa Pavilion neighbours list:
1. Malaysian, 4th floor
2. joese98, 7th floor
3. Dyno Thane
4. wesley00, 5th floor
5. Louise, 5th floor
6. Kamaljit, 8th floor
7. carine, 7th floor
8. raihanah, 2nd floor
9. MMW (Amir), 12th floor
10.
11.
12.
13. |
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MMW
Joined: 18 Apr 2006
Posts: 67
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| Posted: Mon May 08, 2006 12:13 pm Post subject: Legal fees |
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| zuten wrote: | how much is the average legal fees and all other fees related to the bank loan you all have to pay?...My friend is thinking of buying a unit there but one lawyer said he needs to pay legal fees $1500 and other stamping fees and such $2000...(she's talking about loan around 146k)...
damn lawyers making us pay extra... |
Zuten, about the legal fees, the culculations are as follow;
For legal fees, the first RM100,000, it is 1% (RM1000). The remaining RM46,000, it is 0.5% (So, + RM230). So BASIC (excluding "misc, telephone, corresondence, etc") legal fees is RM1230. If your throw in the "misc, telephone, corresondence, etc" fees it will be +RM100 to RM300.
For stamping it is 1% from the Purchase Price (if I'm not mistaken). So another RM1460. Total legal fees for 146K loan is between RM2690 to RM2990!!.
If you ask for discount, "OFFICIALLY", the lawyer cannot give any discount on the RM1230 legal fees, due to the Bar Council directives. The firm account book must not reflect any discount given on the legal fees. So NORMALLY if the lawyer want to reduce the amount you have to pay, they reduce the "misc, telephone, corresondence, etc" fees.
As for the stamping fees, RM1460 goes to the land office.
I said "OFFICIALLY" because, if your friend have any friend/family members (school mate, love mate, siblings, parents, uncle, aunties etc) that is a lawyer or better still a partner of a legal firm, then usually a discount of 50% can be arranged. (If it is your parent you may end not paying a single cents ). If you get it don't make a noise about it because the firm may end up in hot water with the Bar.
One more thing, if your friend don't want to take the firm that the developer suggest, he may choose other firm provided that the firm is a panel of the financial institution that you want to take the loan from. If the firm is not a panel, then ask the financial institution whether they accept ad-hoc appointment just for the VP. If they say "yes" then you are on. If they say "no" then ask for a list of their panel (legal firms) and start checking whether you can find anybody you know in that list of panel (to get discount of course ).
To check who is in the panel, click this page malaysianbar.org.my/ On the top page you have "Directories". From the directories click "Find a Lawyer". There you can find which firm your friend/family members is in. Check the firm whether it is in the panel or not. Then, negotiate on the discount... Good luck and good hunting
AMIR |
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louisecheng
Joined: 25 Apr 2006
Posts: 71
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| Posted: Mon May 15, 2006 11:05 am Post subject: |
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Hi neighbours,
I've snap some photos of the construction last saturday. Any1 can teach me, how to upload it to this forum?
Thanks,
Louise |
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