Medini (Nusajaya) Community

[westman]

For Meridin@Medini, the bank loan seems to be:-
- UOB approved, 80%, but hit quota so dun take-in anymore applications.
- OCBC approved, 80%.
- HSBC pending approval, 70 to 80%.
- SCB pending approval, 80% to 90%(subject to bank approval case-by-case basis).

Thanks for the information. . For loan amount...the % is calculated from purchase price or nett price after discount.. UOB is using nett purchase price after discount..per my understanding.

 

[westman]

I have a question which I hope someone can advise..

When looking at progressive payment..
Assuming if my unit is at level 30..and there is one paymemt stated that I need to pay 15% when the parcel walls erected. ...

Question: will the developer collect 15% payment once they erected the first level wall or when it erected my unit's wall?

 

[westman]

Agent feedback Iskandar Residences cam sign S&P by end Sep..
Can anyone confirm?

 

[nextreal]

I have a question which I hope someone can advise..

When looking at progressive payment..
Assuming if my unit is at level 30..and there is one paymemt stated that I need to pay 15% when the parcel walls erected. ...

Question: will the developer collect 15% payment once they erected the first level wall or when it erected my unit's wall?

If I am not wrong, it should be by batches, not by each floor.

HDA should have stipulated such rules, I hope.

 

[xxkiwi]

Am trying CIMB, 80% upto 70years-old max 35years (i think) 4.2% (6.6% -2.4%).

For Meridin@Medini, the bank loan seems to be:-
- UOB approved, 80%, but hit quota so dun take-in anymore applications.
- OCBC approved, 80%.
- HSBC pending approval, 70 to 80%.
- SCB pending approval, 80% to 90%(subject to bank approval case-by-case basis).

 

[JBIskandarian]

Should be signing SPA by Oct.
Westman, you bought Tower A, may be by Sept then...

Agent feedback Iskandar Residences cam sign S&P by end Sep..
Can anyone confirm?

 

[westman]

Should be signing SPA by Oct.
Westman, you bought Tower A, may be by Sept then...

You bought tower b?

 

[nextreal]

UOB is using nett purchase price after discount..per my understanding.

Doesn't sound right. The bank's disbursement of funds to the developer will not be correct.

It should be from the before-discount price.

 

[Newbie11]

That's right. It's based on gross price.

 

[Chocolate]

You bought tower b?

I bought Tower B Iskandar Res, was told developer is going to bank in my deposit cheque only next week.Am guessing S & P signing will be in Sept.

 

[westman]

Doesn't sound right. The bank's disbursement of funds to the developer will not be correct.

It should be from the before-discount price.

This is how UOB calculate the loan amount under DIBS..

For example purchase price: 1000K
Less 8% from purchase price, nett price after less: 920k
Note: I wondered why 8%, when asked, they told me this is their management decision.

UOB loan 80% from 920k: 736k

---------------------------------------------------------------------------------------------
Based on payment schedule

First Payment 10%: owner pay 100k
Second Payement 20%: owner pay 30k, Developer pay 70k
Third Payment 15%: Owner pay 64k (1000-736 (loan amout)+200(paid sum)), Bank pay 86k (1000x15%-64k)
Subsequent payments: Bank take over to pay..

THis is what I gather from Bank...

 

[westman]

I bought Tower B Iskandar Res, was told developer is going to bank in my deposit cheque only next week.Am guessing S & P signing will be in Sept.

Interesting.. if I recalled correctly, when launched, rumour says Tower B was bulk purchase by a group of Japs... with your confirmation, this speculation is just pure market rumour......

 

[westman]

That's right. It's based on gross price.

So Far, HSBC offers 70% from Gross
UOB offers around 73 from From Gross if you read post #131 for my UOB offers...

In my opinion, I may ops for non-DIBS as it does not make sense to pay 5% more when I've aready paid 30% of it..

Also, I've seen the progressive payment schedule from developer, my progressive payment will defnitely come last becos I bought high floor (>30)..

BTW, ground work will start Jan'14

 

[Chocolate]

Interesting.. if I recalled correctly, when launched, rumour says Tower B was bulk purchase by a group of Japs... with your confirmation, this speculation is just pure market rumour......

It is true that most of Tower B was sold via bulk purchase thru a Jap company to Japs. But Huttons was dishonest when they said it was not yet released and would be released at higher price later before the launch of Tower A . Tower B was being sold at same time in both MY( some units were given to a Malaysian agency) and Japan.No need to ballot. Tower B was still being sold AFTER Huttons sale of Tower A, in fact on that day they put out word that Tower B was FULLY sold, not true, there were still units. I know this as my friend had misfortune to queue and never even got to ballot for her studio unit.I myself lost out on higher floor unit due to Huttons false info, I was deliberating whether to trust the Malaysian agent when Huttons kept saying the Malaysian agent was lying. Finally I decided to go with the Malaysian agency and secured my unit, by which time there was not much choice left.

 

[westman]

It is true that most of Tower B was sold via bulk purchase thru a Jap company to Japs. But Huttons was dishonest when they said it was not yet released and would be released at higher price later before the launch of Tower A . Tower B was being sold at same time in both MY( some units were given to a Malaysian agency) and Japan.No need to ballot. Tower B was still being sold AFTER Huttons sale of Tower A, in fact on that day they put out word that Tower B was FULLY sold, not true, there were still units. I know this as my friend had misfortune to queue and never even got to ballot for her studio unit.I myself lost out on higher floor unit due to Huttons false info, I was deliberating whether to trust the Malaysian agent when Huttons kept saying the Malaysian agent was lying. Finally I decided to go with the Malaysian agency and secured my unit, by which time there was not much choice left.

I can feel your agony...
I too.. kena from a local huttons agent before launch..told me tower full sold..
On launched date.. my choice unit > 30 stories all sold..
Dropped the idea of buying for a while.. sometime in late july. A lobang came when an agent told me a unit is available as buyer over leverage to get loan approved. Upon hearing this.. fast hand fast leg booked.

Anyway am glad about this purchase as Isksndar Residences is bordered to Putri Habour. . I will get to see the strait of Singapore from my unit.. looking forward for it...

Btw.. thinking of starting a new thread for Iskandar Residences owners...

 

[Chocolate]

I can feel your agony...
I too.. kena from a local huttons agent before launch..told me tower full sold..
On launched date.. my choice unit > 30 stories all sold..
Dropped the idea of buying for a while.. sometime in late july. A lobang came when an agent told me a unit is available as buyer over leverage to get loan approved. Upon hearing this.. fast hand fast leg booked.

Anyway am glad about this purchase as Isksndar Residences is bordered to Putri Habour. . I will get to see the strait of Singapore from my unit.. looking forward for it...

Btw.. thinking of starting a new thread for Iskandar Residences owners...

Pls go ahead and start, I will see you there. Btw, you bought from Huttons? If you dont mind, can I ask what size unit? I bought a 2 bedroom.

 

[comfy]

I will join you too if there is a thread on Iskandar Residences @ Medini......... am happy to bought IR too coz it is really very close to Puteri Harbor...kekeke

Pls go ahead and start, I will see you there. Btw, you bought from Huttons? If you dont mind, can I ask what size unit? I bought a 2 bedroom.

 

[nextreal]

This is how UOB calculate the loan amount under DIBS..

For example purchase price: 1000K
Less 8% from purchase price, nett price after less: 920k
Note: I wondered why 8%, when asked, they told me this is their management decision.

UOB loan 80% from 920k: 736k

Honestly, this is the first time I learn that any bank calculate like this. There will never be any way you can enjoy the discount given by any developer. If I were you, I will ditch them.

 

[teega]

I never trust Huttons anymore after they sold my shop unit sometime ago. A few of them that i come across r Very unethical. I thk generally it's very rare for agent to b honest and fight for your needs. Anyway, this whole balloting thing in iskandar started by Huttons.. Encore at iskandar.. When the local developers saw how 'successful' this approach, almost all developers copied them.. This balloting thing can create an atmosphere of desperation among buyers.. Telling half truth to buyers is more poisonous than telling outright lies..

 

[teega]

I never trust Huttons anymore after they sold my shop unit sometime ago. A few of them that i come across r Very unethical. I thk generally it's very rare for agent to b honest and fight for your needs. Anyway, this whole balloting thing in iskandar started by Huttons.. Encorp at puteri harbour. When the local developers saw how 'successful' this approach, almost all developers copied them.. This balloting thing can create an atmosphere of desperation among buyers.. Telling half truth to buyers is more poisonous than telling outright lies..