Matex Residence

[OracleMasia]

don't know.. may be will pop down to have a look. but NS Global's salesperson reputation that bad... will it be risky to join their club? on the other hand, its his first time forming investor club, he would want to make sure that it succeed?mm...

My take is I will buy properties from them which I think it is woth paying the S$5K admin fees only. For the other scheme they devised, I prefer not to participate ..reasons is they are new company, reputation, financial standing not sure of....I doubt they will let you see their audited financial statement . Maybe those lease agreement if they can get reputable hotel operator to operate as service residences. But it should be a lease agreement between us and the hote operator directly.

 

[OracleMasia]

Initially they wanted to keep tower 3. But good result from first 2 towers totally change their mind.

I hope they will be stuck with 100 units and use those units as service residences so they will run the place more seriously.

From the new, it seemed it is almost confirmed to sold out from the number of cheques collected.

 

[OracleMasia]

Hi guys,

Anyone already started looking for a bank loan?
When are we to take up the loan (usually)?
Hope whatever measures they come up with does not affect the loan to value (LTV) or the DSR.

So far HSBC is BLR-4.3% (developer booking not confirmed yet)and OCBC (BLR-4.4%). UOB, my preferred bank yet to have any details pending developer booking. RMB , will difficult for Singaporeans to apply. Shall see what UOB had to offer before deciding. Note DIBS only avaliable if you use the panel banker only.

 

[shctaw]

F. PANEL SOLICITORS
1. Soh Hayati & Co.
No. 109A, Jalan Kelang Lama, Batu 3 1/4, 58000 Kuala Lumpur. Lawyer: Mr. Soh Choh Piau Contact No.: 03-79843755

2. Syed Alwi, Ng, & Co.
Suite 22.03, Level 22,
JB City Square, Jalan Wong Ah Fook, 80000 Johor Bahru.
Lawyer: Ms. Latha Pillay
Contact No.: 07-2249128

3. Abu Talib Sharom
No. 78A, 1st Floor, Jalan Padi Satu, Bandar Baru UDA, 81200 Johor Bahru. Lawyer: Pn. Noorashikin
Contact No.: 07-2323848

G. PANEL END FINANCIERS
1. HSBC Bank
2. RHB Bank
3. OCBC Bank
4. UOB Bank

 

[Steventlk]

So far HSBC is BLR-4.3% (developer booking not confirmed yet)and OCBC (BLR-4.4%). UOB, my preferred bank yet to have any details pending developer booking. RMB , will difficult for Singaporeans to apply. Shall see what UOB had to offer before deciding. Note DIBS only avaliable if you use the panel banker only.

Thanks man for the infor. The BLR currently stands at 6.6%?

So if we take Ocbc, the the interest rate stands at 6.6 - 4.4 =2.2% ?

 

[Steventlk]

Heard from a agent that they have achieved a sales of 100 units and they are not promoting matex for the time being...

 

[Steventlk]

F. PANEL SOLICITORS
1. Soh Hayati & Co.
No. 109A, Jalan Kelang Lama, Batu 3 1/4, 58000 Kuala Lumpur. Lawyer: Mr. Soh Choh Piau Contact No.: 03-79843755

2. Syed Alwi, Ng, & Co.
Suite 22.03, Level 22,
JB City Square, Jalan Wong Ah Fook, 80000 Johor Bahru.
Lawyer: Ms. Latha Pillay
Contact No.: 07-2249128

3. Abu Talib Sharom
No. 78A, 1st Floor, Jalan Padi Satu, Bandar Baru UDA, 81200 Johor Bahru. Lawyer: Pn. Noorashikin
Contact No.: 07-2323848

G. PANEL END FINANCIERS
1. HSBC Bank
2. RHB Bank
3. OCBC Bank
4. UOB Bank

Thanks prof
For those of us who are vested, there is no action to be taken till the signing of the SPA right? Thanks.

 

[yyhwin]

Thanks man for the infor. The BLR currently stands at 6.6%?

So if we take Ocbc, the the interest rate stands at 6.6 - 4.4 =2.2% ?

Noone will minus 4.4 for you. My first property loan offer is 6.6 -2.4% = 4.2%, Malaysia loans are expensive unlike singapore, be prepared to think of ways to save on your interest payment.

 

[yyhwin]

Heard from a agent that they have achieved a sales of 100 units and they are not promoting matex for the time being...

That means no more selling already? IS it?

 

[Newbie11]

No preview until official launch

 

[Steventlk]

Noone will minus 4.4 for you. My first property loan offer is 6.6 -2.4% = 4.2%, Malaysia loans are expensive unlike singapore, be prepared to think of ways to save on your interest payment.

Bro, any creative ways to save on interest? (other than paying down on the principal)?

 

[shctaw]

Bro, any creative ways to save on interest? (other than paying down on the principal)?

It does depend.....

1. Buy for own use.
- Pay down as much money as you can, as the loan you service may double the final price you pay.

2. Rental return.
- Try to balance your mortgage payment with the rental you collect. (make tenant pay your mortgage)
- Loan to the max, hope inflation is more than the bank interest.

3. Capital gain play. Sell during TOP.
- Loan to the max, use developer package to ride the wave up while you save on interest from now till TOP.

4. Buy 2 get 1 free trick. (my play)
- Loan to the max, use developer package to ride the wave up.
- Try to use capital gain from 2 units to get third unit for free.
- A 50% gain will do the trick, but high risk as must buy more units.
- Sometime the gain will change the plan as sometime people do not mind owning all units with 50% equity in it.
(example : A person whom bought 3 units in SKY 88 , already succeed in this trick if he bought 3 units)

 

[Steventlk]

It does depend.....

1. Buy for own use.
- Pay down as much money as you can, as the loan you service may double the final price you pay.

2. Rental return.
- Try to balance your mortgage payment with the rental you collect. (make tenant pay your mortgage)
- Loan to the max, hope inflation is more than the bank interest.

3. Capital gain play. Sell during TOP.
- Loan to the max, use developer package to ride the wave up while you save on interest from now till TOP.

4. Buy 2 get 1 free trick. (my play)
- Loan to the max, use developer package to ride the wave up.
- Try to use capital gain from 2 units to get third unit for free.
- A 50% gain will do the trick, but high risk as must buy more units.
- Sometime the gain will change the plan as sometime people do not mind owning all units with 50% equity in it.
(example : A person whom bought 3 units in SKY 88 , already succeed in this trick if he bought 3 units)

Thks prof for sharing your insights.
Hmm,... I got limited ammo. So it shall be (2) or (3). Am really starting small.

Btw, ns seen selling the development at danga bay. Seems really expensive at 13xx psf...

 

[shctaw]

Thks prof for sharing your insights.
Hmm,... I got limited ammo. So it shall be (2) or (3). Am really starting small.

Btw, ns seen selling the development at danga bay. Seems really expensive at 13xx psf...

Another way to look at Danga Bay......

it make Matex look cheap.

 

[DCputeri]

What do you think of Sky Suites (in front of the old lorry CIQ)?

Another way to look at Danga Bay......

it make Matex look cheap.

 

[juztin]

May I ask if we can take out equity term loan in Msia before Proj TOP?

 

[Newbie11]

What do you think of Sky Suites (in front of the old lorry CIQ)?

What is known about it so that we can compare?

 

[shctaw]

What do you think of Sky Suites (in front of the old lorry CIQ)?

Matex, Sky 88 and Sky Suites are very similar as they are within 1 km of each other.
Take your pick. I choose Matex and Sky 88 because I came in late and at that moment I study JB; only Sky 88 and Matex caught my eye.

I drop Puteri Harbour, Medini and Seri Austin.

 

[OracleMasia]

Thks prof for sharing your insights.
Hmm,... I got limited ammo. So it shall be (2) or (3). Am really starting small.

Btw, ns seen selling the development at danga bay. Seems really expensive at 13xx psf...

Can get Tropicana Danga Bay at $7XX psf only. Why buy this at $1300 psf? Selling at $1300 psf at primary launch does not mean you can sell in secondary market at the same/higher price..

 

[OracleMasia]

Bro, any creative ways to save on interest? (other than paying down on the principal)?

During DIBS period, I think you do not need to be concern about the interest. Seek Loan with existing banker if it is one of the panel banker.. Try to negotiate for no - prepayment penalty if possible. Once the loan is full released, re-finance it with flexi-loan if possible. In this way, you can use your saving more effectively to reduce the interest without tie-up/pay down the principal. The no prepayment penalty also helps if you are planning to sell upon TOP.