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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.

 

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