Owning a Home by Belleview Group
Visit our sales gallery at any of our branches located in Penang, Kulim & Alor Setar. Our sales & marketing personnel will be glad to provide you with registration forms in which you can state your preferred location and type of property or register yourself at www.belleview.com.my
Letter of Offer
Upon confirmation of purchase, a letter of offer will be issued with the receipt for the initial 10% down payment.
Execution of Sale and Purchase Agreement
Completion of the S&P must be done at our attached solicitor’s office upon settlement of the initial 10% down payment.
Private Sector Loan Applicant
You have the authorization to choose the end financier to expedite the loan application process. The documents required to apply a loan are below :
- Photocopy of your IC
- Photocopy of the Sale and Purchase Agreement
- A copy of the title deed if available
- A copy of your latest 3 months pay slip or your latest 6 months bank statement
- A copy of your EPF statement or Form J
- Letter of confirmation on income and years of service from your employer
- A copy of Income Tax return or EA form
Sequence of Loan Processing
- Submission of loan application form with the necessary documents.
- Interview by end financier.
- Letter of offer upon approval from end financier.
- The letter of offer fully signed by you as acceptance of the offer and returned to the bank with a copy to the developer.
- End financier’s letter of instruction to solicitor to prepare the loan document which may be either :
- Deed of Assignment and Loan Arrangement (for strata units) ;
- Memorandum of Transfer Form 14A and Charge Form (for landed units)
- Letter from end financier advising you to execute loan documents at solicitor’s office.
- Loan documents forwarded to end financier for execution.
- Loan documents returned to solicitors who will forward to developer for execution of Memorandum of Transfer.
- Executed loan documents returned to solicitors for stamping and registration. Stamped loan documents forwarded to end financier for safe keeping. A copy each is given to purchaser and developer.
- End financier will release payments to developer progressively in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of our invoice.
Government Loan Applicant
For the government loan applicant, you will be advised by your Department Head on the requirements for a housing loan or you may surf to the website at http://bpp.treasury.gov.my/web/ for further details.
The loan processing is handled by the :
Bahagian Pinjaman Perumahan
Kompleks Kementerian Kewangan
No.9, Persiaran Perdana, Presint 2
Pusat Pentadbiran Kerajaan Persekutuan
62592 Putrajaya, Malaysia
Tel : 03-8880 2000
Fax : 03-8880 1801
Email : firstname.lastname@example.org
Letter of Offer of Loan
Once the loan is approved, a letter of offer will be issued by the end-financier to you within 14 days. Please be advised that you are to settle the difference between the purchase price and loan amount in the Third Schedule of the Sale and Purchase Agreement and Letter of Offer of end-financier.
Letter of Instruction to Execute the Loan Documents
The end-financier will instruct the solicitor to prepare the loan documents for the purchaser’s execution. In the issuance of a separate title the property will be charged to the end-financier as a security for the loan. If this is not the case, the property will be assigned to the end-financier by way of deed of assignment of the SPA.
Registration of Documents
The end-financier’s solicitor will present the Memorandum of Transfer in favour of the purchaser and the charge in favour of the end-financier registration at the relevant Land Office where the issuance of a separate title. The end-financier will keep the original SPA and Loan Agreement and Assignment when a separate title has been issued.
Release of Progress Payment
The end-financier’s solicitor wills advice the end-financier to release the outstanding progress payments to us in accordance with the Architect’s Certificate issued upon completion of each stage of construction.
Progress Billing is the periodical invoicing by us either to you or the end-financier when the relevant construction stage in the Third Schedule of the Sale & Purchase Agreement is completed as certified by the architect.
Header : Payment Procedure
Upon completion of the S&P, the initial 10% down payment as stated in the Sale and Purchase Agreement has to be paid to us.
A period of 21 working days from the date of the invoice is given for the payment of the progress billing.
Mode of Payment
Payment can be made by cheque, bank draft or money order. Avoid payment by cash if possible. (Except for the settlement of miscellaneous charges)
Refund of over payment
Refund of over payment is subject to the following conditions :
- Settlement of the difference sum between selling price and loan amount.
- Release of the progress payment from end financier.
- Settlement of any outstanding payment charge or any miscellaneous charges.
Late Payment Interest (LPI)
As stated in the Sale & Purchase Agreement, a late payment charge at 10% per annual will calculate on daily basis will be levied on any overdue payment.
Invoice dated 06/08/2014 for RM50,000.00.
Due date 05/09/2014 in example 21 working days from date of invoice.
Payment received on 10/09/2014.
No of days delayed : 06/09/2014 to 10/09/2014 = 5 days
5 days/365 x 10% x RM50,000.00 = RM68.49
Avoidance of Late Payment Interest (LPI)
In order to avoid the imposition of LPI, you are advice to adhere the following conditions :
- Apply for your loan immediately. We will be pleased to assist you in any way possible.
- Liaise with EPF to ensure prompt release of withdrawal sum.
- Settle the difference sum between the purchase price and loan amount immediately on loan approval or on receipt of invoice from us.
- Liaise actively with your end financier and solicitor on receipt of the invoice from us to ensure payment is made within the period of 21 working days.
Header : Handing Over of Vacant Possession
Letter of handing over of vacant possession
- Upon completion of your unit, a letter of handing over of vacant possession and statement of account will be mailed to you notifying you to take vacant possession.
- Within 14 days from the date of receipt of the letter, you have to settle all outstanding bills before collecting the house keys from the Property Management Department.
- We will issue a letter of clearance authorizing our Property Management Department to release your house keys upon full settlement of all outstanding payment due.
We will arrange an appointment for a joint inspection between you and our Property Management Department. The joint inspection is to ensure that all specifications as per Sale and Purchase Agreement are provided and to identify any defects or complaints. Your complaints should be in writing and will be attended by us throughout the defects liability period (24 months). Any defects which become apparent during this period not arising from your own actions will be rectified by us on a first come first serve basic.
Your Rights as a Purchaser
The Ministry of Housing and Local Government’s Enforcement Division is the authority sanctioned by the Government to ensure that your rights as a purchaser are protected. As a purchaser you are entitled to certain rights in accordance with the Sale and Purchase Agreement. Highlight of the Sale and Purchase Agreement as below :
- Your unit must qualify to the specification itemized in the Sale and Purchase Agreement.
- Your unit must be completed within the stipulated period.
- Landed units : 24 months from the date of the Sale and Purchase Agreement
- Strata units : 36 months from the date of the Sale and Purchase Agreement
Those EPF members who wish to make withdrawal from your EPF account, kindly obtain the EPF withdrawal forms from either EPF office or download it at http://www.kwsp.gov.my
EPF Withdrawal Procedure
Withdrawal of EPF will be entitlement for those who are EPF member.
Your entitlement would be 30% of balance available in purchaser’s EPF account II of the difference between the purchase price and loan amount whichever is lower.
- Photocopy of your IC
- Submission of EPF withdrawal form together with original copy of the Sale and Purchase Agreement
- A copy of the letter of loan approval from your end financier
Note : The original Sale and Purchase Agreement, Letter of Loan approval from your end financier and your original IC have to be sighted by the EPF officials.
Mode of Payment
The payment will be released directly to the member roughly about 14 working days from t