A reader, “Better Off With Ah Long” wrote about his problem with a bank with
regard to penalty charges he had to pay to a housing developer when the bank
was late in paying the developer.
This problem has always been there, and many of us who need to take bank
loans to finance our house purchase face the same problem.
The developer chooses the bank and lawyer for the buyers. If the developer
knows that most of the time, the cheque cannot be released to him from the
bank within the time frame stipulated by the developer himself, then why
squeeze the poor buyers?
The developer should give the bank more time to handle the transaction.
I feel it is about time the relevant government agencies do something about
this.
Lopsided laws must be amended to prevent developers from squeezing the last
ringgit out of our house buyers' pockets.
