Bank Letter of Offer for Housing Loan

664 Views  ⚫  Asked 8 Years Ago
asked on Jun 30, 2009 at 18:58
by   Joyce

I got a case happend for letter of offer from bank, regarding the housing loan MRTA,
eg. my Housing loan is RM500,000 and my MRTA insurance is RM20,000.00 (should be under construction coverage) total is 520,000.00, case happend after i sign the letter of offer with Banker, 1 month later, the agent from bank mentioned that the MRTA figure wrongly stated on the MRTA, should be 25,000.00 for under construction coverage, the RM20,000 is completion properties coverage.

anyone advise me that shall i sign again the letter of offer? as this discrepacy should be bear by the borrower instead of the banker?

many thanks!

0 had this question
Me Too
0 favorites
[ share ]
3 Answers

answered on Sep 12, 2009 at 17:59
by   krishan
It's always the clients fault, not the banks. Easy to sort out. Since you do not want to pay the extra rm5k, ask the bank to start the MRTA on completion of property. It's not that you will be leaving anywhere soon. If it's the principle involved where the bank does not honour its side of the bargain, stand your ground and good luck. If offer made and accepted, legally the bank cannot rescind the agreement. Pls re-read the letter of offer to see any loopholes which can be taken advantaged off by the bank.
0 found this helpful

answered on Apr 2, 2010 at 22:20
by   AliMohd
I had signed the offer letter from bank A, but after consideration I found bank B provide better offer. Can I just rejected bank A and sign bank B offer?

Thanks ..
0 found this helpful

answered on Apr 6, 2010 at 18:48
by   ksj_cool
u still can, because no legal documents has been executed.
0 found this helpful

Your Answer

By posting your answer, you agree to the privacy policy and terms of service.