I am starting this because I have a questionsk that buffering me. I tried to search for an answer from FundMyHome website, but it seems the website is like all other commercial website, where no full details provided (only show you the good thing).
Assumption: House price 300k. Buyers need to come out with 60k (the fund is put aside for interest), Investor come out with 80%, Developer only collect 80% of the selling price, remaining will be collect in 5 years time.
Now, the scenario is after 5 years, let assume the house price is flat (remaining 300k), so the question now is:
1) The purchase price is 300k, so logically buyer needs to get a loan of 300k right? I am questioning this because the 60k is for interest, so the investors will take it and 80% of their investment. Lets not forget the developer also need to take back their 20%.
So this means that buyers still facing hard time to buy the house right, because the monthly installment buyer need to pay is RM 1250 , plus buyer need to pay for maintenance fees and others, so easily an extra of 300 - 400 per month.
2) After 5 years, when buyers can afford to buy the house, need to pay lawyers fees and MoT again?
I am not smart enough to understand, hopefully someone can help....
Fund My Home , Government Authorized Money Game?
2018-11-15 17:59 | Report Abuse
Hi All,
I am starting this because I have a questionsk that buffering me. I tried to search for an answer from FundMyHome website, but it seems the website is like all other commercial website, where no full details provided (only show you the good thing).
Assumption: House price 300k.
Buyers need to come out with 60k (the fund is put aside for interest), Investor come out with 80%, Developer only collect 80% of the selling price, remaining will be collect in 5 years time.
Now, the scenario is after 5 years, let assume the house price is flat (remaining 300k), so the question now is:
1) The purchase price is 300k, so logically buyer needs to get a loan of 300k right? I am questioning this because the 60k is for interest, so the investors will take it and 80% of their investment. Lets not forget the developer also need to take back their 20%.
So this means that buyers still facing hard time to buy the house right, because the monthly installment buyer need to pay is RM 1250 , plus buyer need to pay for maintenance fees and others, so easily an extra of 300 - 400 per month.
2) After 5 years, when buyers can afford to buy the house, need to pay lawyers fees and MoT again?
I am not smart enough to understand, hopefully someone can help....