Our First Dream Home - Update
Well well, its been more than 2 months since my partner and I put in to paper on the booking form. Where are we now?
Well, the S&P signing have not commenced yet. Apparently the developer is still tied up with the local authorities. I have yet to contact the developers to get an updae on this.
On the other side, my loan applications has been approved. The interest rates, well I would say pretty competitive. The bank is currently waiting for the S&P sigining before agreeing to issue the “letter of offer”.
At the construction site, well construction is still ongoing at a frantic pace. I visited the site a week ago, I daresay the developer has already put up almost 6 new 3-storey semi-d albeit without any furnishing yet. But then again the structure is up 
Thats all the update for now.
oh my, what a looonggggggg wait! wonder what happens to the booking fee paid to secure a unit… in the lawyer’s fixed deposit? hmm…
I believe the interest rates now are much much lower than when i purchased my house. 2 years ago, it was BLR + 0.25. Currently, the rate offered by one of the banks is BLR - 1.25, which is very very good… or you can choose fixed rate at 5.75 from Citibank. One trick is to take the offer letter from one bank, and ask for a better rate from another bank, though i’m not sure its ethically correct
Hey Michael,
I’ve been receiving lots of calls from Public Bank and even Ambank offering up to BLR-1.4% for their conventional loans.
However I’m still thinking of sticking to the flexi loans. I’m looking favourably at both HSBC and HLB. I believe OCBC is offerinf 5.75% fix for first 3 yrs as well.