Wednesday, 10 June 2015

Finally, good news about our home!

We had another appointment with our bank
for another mortage stimulation
since husband's sister and friend had really low interest rate about 2%
We really hope our bank will change their initial quotation of 2.8%
Sadly, the appointment didnt went well
The bank require us to pay the notaire fees (means all our cash)
and can only offer us the same rate of 2.8%
as if is not bad enough, the bank will increase its interest 0.2% more the next day
since our appointment was on the last day of May
while we are really unhappy at the rate
at least it means we can still go ahead to buy the appartment

Yesterday, we went to the notaire office and sign our initial sales agreement
so, we have 7 days to cancel the purchase with no penalty
and to transfer 8% (12k) to the notaire as deposit
we wanted to shift by the last week of august
since owner is shifting around 10 august
and i really want to do this during the summer holidays
but the notaire is unsure whether we can get our mortage by then
as normally is 3months notice 
especially the bank needs about 2 months to process
and nobody works during the summer holidays
so, we are keeping our fingers cross

Today is our second meeting with another bank 
We really hoped that the bank will be able to give us a better rate
since the first stimulation was 2.2% (if we put in zero cash)
and 2.05% (if we pay 10%)
But after the visit with our bank,
we are just praying that this bank can give us a good rate of 2.5%

And surprisingly, this bank gave us a really good rate!
With zero cash, the rate is 1.95%!
if we pay the 10%; it will be 1.85%!
Definitely, we are keen to not pay cash and keep it for moving expenses
and is already much better than what we expected!
The bank inform us that there will be no problem to get the confirmation 
and we might be able to shift in 3rd week of august!

Its definitely a good news after all the worrying and uncertainty
Finally, we will have our own home soon!
Hmm, since we have cash on hand, i can plan for our sg trip for 2016
double-yay!

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