Asked by nastasha poh
Hi,
I have signed S&P for a property in the year 2020. Loan also approved and the amount appears in my CCRIS. Fast forward 2022, the developer come back to me and say there's been some mistake when applying for LPHS so they will resubmit again. At the same time, I can cancel my purchase if I want. After dragging 2 years, I decided to cancel.
Currently, the developer is processing my cancellation and I will get refund on my booking fee. However, I would like to ask, for the loan approved by the bank (no disbursement made yet and I no need pay anything yet), how to proceed to cancel the loan? FYI, my S&P is not stamped and the developer confirm I no need pay anything for cancellation. I am not sure about bank loan. Kindly advise.
Thank you
I have signed S&P for a property in the year 2020. Loan also approved and the amount appears in my CCRIS. Fast forward 2022, the developer come back to me and say there's been some mistake when applying for LPHS so they will resubmit again. At the same time, I can cancel my purchase if I want. After dragging 2 years, I decided to cancel.
Currently, the developer is processing my cancellation and I will get refund on my booking fee. However, I would like to ask, for the loan approved by the bank (no disbursement made yet and I no need pay anything yet), how to proceed to cancel the loan? FYI, my S&P is not stamped and the developer confirm I no need pay anything for cancellation. I am not sure about bank loan. Kindly advise.
Thank you
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