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Hi all,
Do we need to pay additional for
1. 1.5% cancellation fee on undrawn balance.
2. Legal fee
When I redempt the loan? I can shocked when I saw the letter from the bank.:simmering:
Hi all,
Do we need to pay additional for
1. 1.5% cancellation fee on undrawn balance.
2. Legal fee
When I redempt the loan? I can shocked when I saw the letter from the bank.:simmering:
Read the terms and conditions of your loan. Every loan is different with different lock-in periods....
One trick is to prepay 99.99% of your outstanding loan so that the full-repayment penalty doesn't kick it. Then again.... read your contract.
Allthepies
30-12-11, 08:58
Hi all,
Do we need to pay additional for
1. 1.5% cancellation fee on undrawn balance.
2. Legal fee
When I redempt the loan? I can shocked when I saw the letter from the bank.:simmering:
Yup if locked in usually have to pay...
Hi all,
Do we need to pay additional for
1. 1.5% cancellation fee on undrawn balance.
2. Legal fee
When I redempt the loan? I can shocked when I saw the letter from the bank.:simmering:
Yes, this is typical of Mortgage Loan for BUC... not sure about those re-mortgage terms for buildings that are TOPed.
This can be classified as COST of Mortgage Loan Redemption that typically eats into the profit besides the Agent's Commission & SSD.
Hope your sale clear the threshold to realize real profit :)
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