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Loan Issue After Signing S&P

 
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chingkang



Joined: 13 Jun 2004
Posts: 46

PostPosted: Fri Jun 24, 2011 4:14 pm    Post subject: Loan Issue After Signing S&P Reply with quote

Hi All,

I recently bought a condo unit with strata title to be directly transferred to me from developer.

S&P signed, under two names, myself and my friend (friendship). Letter of offer for loan is under my name only (as per banker, he is not aware that the S&P will have two names).

Now when my lawyer is asking for instructions from the bank, the bank is not able to proceed because according to the banker, S&P is under two names while the letter of offer for loan is given with the understanding that the S&P is under my name only.

We try not to redo the S&P as it will need some time to get developer consent for direct title transfer. Hence, we are hoping that the adjustment can be done on the loan side.

Till now, I have not got a favorable reply from the banker regarding my situation, although he is trying to submit my friend's IC and salary slips for approval.

Any of you encountering the same issue before? What are the suggestions that can remedy this issue? I cannot afford to keep waiting for the banker to come back to me. Appreciate your advice here.

Regards,
Ching Kang
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erizzzzz



Joined: 16 Jun 2011
Posts: 7
Location: Bangi

PostPosted: Tue Jun 28, 2011 6:23 pm    Post subject: Reply with quote

have u sign the loan offer letter? if no, try with some other bank
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erizzzzz



Joined: 16 Jun 2011
Posts: 7
Location: Bangi

PostPosted: Tue Jun 28, 2011 6:46 pm    Post subject: Reply with quote

erizzzzz wrote:
have u sign the loan offer letter? if no, try with some other bank


bro, can u call/sms me? i'm not a banker but have banker friends. kinda interested in your issue.. he was asking me too many question that i cant answer on your behalf. as far as i can remember, should not be any problem but maybe its a bank-specific issue.

my no 016-3087325
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peterstl85



Joined: 26 Jun 2011
Posts: 25

PostPosted: Tue Jun 28, 2011 10:19 pm    Post subject: hi.. Reply with quote

Hi Bro, I am banker from UOB.. Would u like to have a try on our bank?? we can help u to proceed, just need 4 working days.. If u dont mind, u can let me have a try to help u.. My phone is 014-624 0468
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Peter Siow
UOB specialist in housing loan
uobss.peter@gmail.com
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chingkang



Joined: 13 Jun 2004
Posts: 46

PostPosted: Sat Jul 02, 2011 7:25 pm    Post subject: Reply with quote

Guys, thanks for the offer to help.

Fortunately, my banker is able to solve this issue finally. I guess the issue was new to him and hence, he was panic and not able to give a solution. Now that his credit manager has given him the approval to process my loan, the bank will issue instructions to my lawyer coming this week.

Thank you.
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