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Buyers ask for stay of loan repayment
10/08/1999 The Star
Many housebuyers of the Majestic Heights project have appealed to Bank
Negara and financial institutions to grant a reprieve on loan repayment
pending issuance of certificates of fitness.
The Taman Terubong Indah (Majestic Heights) Phase 1 Ad-Hoc Committee
secretary P. L. Chang said most buyers were facing problems in serving
their loans.
"Several banks have taken legal action against buyers who defaulted in
payments. Some units have been put up for auction," he said.
A purchaser C. S. Chor said in addition to servicing his housing loan of
RM500 monthly, his family had to pay rental of RM495 each month.
"I don't know how long I can keep on paying if we don't obtain the CF
soon," he lamented.
Another housebuyer Johnny Tan complained that although Phase 1 comprised
low-medium cost units costing about RM75,000 each, "they are worth less
than low-cost units."
"The internal workmanship is shoddy. For instance, the plastering of walls
is not done properly," he said.
Fellow buyer Cynthia Teoh claimed that the marble floor was not polished
and doors were missing from some units, adding that buyers had been asked
to pay maintenance fees by the developer.
The project's Phase I, launched in 1994 and due to be completed in 1997,
comprises nine blocks of 1,557 units. |
