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A view from the traffic light (left). Construction work progress until 31st January 2011 - Block A & B (Phase 1).

Nice to see that some big trees was preserved by the developer at the junction towards the condominium at Jalan Wan Siew.

Refinancing:

 

If you've had your home loan/financing for a number of years, such as 5 years or more, you may be a prime candidate for refinancing.

 

There are many benefits of refinancing. You may enjoy:

  • Lower interest rates

  • Reduction of monthly instalments

  • Free up cash for other life’s purposes

  • More flexible home loan/financing features such as ATM, cheque book and internet banking facility

How does refinancing work?

  • You take advantage of your property’s rising value to obtain a larger home loan/financing amount.

  • Your refinanced home loan/financing pays off your current home loan/financing.

  • You are free to use the balance as you wish.

Phase 2 construction works was started (Left). 2 cranes for block C and D.  All the pictures taken on 31st January 2011.

Things to consider before refinancing

Lock-in period
Your home loan/financing comes with a 5 years lock-in period. The lock-in period starts once the first drawdown takes place. Should you cancel your loan/financing within the stipulated period, you will be required to pay an exit penalty which may range from 3.5% to 5% of the original home loan/financing amount (at times, plus administration fee or unwinding fees for fixed home loans/financing). You may want to check your Letter of Offer for your existing home loan/financing to ascertain the lock-in period and percentage of the exit fees.

Moving cost
Moving cost refer to, inter alia, legal fees, valuation fees, stamp duty and other disbursement or charges relating to the preparation of the legal documentation in relation to your home loan/financing.

 

 

 

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Last updated: 31 Jan 2011 by Mohd Azeri Hairuddin (mohd_azeri@yahoo.com)