MyWorld....Viva la Vida

Monday, January 17, 2011

property glossary

Acceptance Letter
A letter from the applicant indicating his willingness to accept the loan after the loan is approved by the banking institution.

Appreciation
An increase in the value of a property due to changes in market conditions, or for other reasons. The opposite of depreciation.

Balloon (payment) mortgage
Usually a short-term fixed-rate loan which involves small payments for a certain period of time, and one large payment for the remaining amount of the principal at a time specified in the contract.

Base Lending Rate (BLR)
A minimum interest rate calculated by financial institutions based on a formula which takes into account the institutions’ cost of funds and other administrative costs.

Breach
A violation of any legal obligation.

Certificate of Statutory Completion (CSC)
The Commissioner of Building Control will issue the Certificate of Statutory Completion to a building project when it is completed. The building can only be occupied when a Certificate of Statutory Completion (CSC) or Temporary Occupatancy Permit(TOP) is granted. The requirements for a CSC is more rigorous than a TOP and is compulsory, unlike a TOP.

Commitment Fee
A fee charged by the financial institution for setting aside funding that are not utilised by
the borrower. Usually only applicable to overdraft facility.

Conveyancing
Legal work involved in buying and selling a house.

Default
Failure to pay the monthly instalment/interest payments to financial institutions when due.

Disbursement Fees
Various type of fees such as registration of charge fee, land search fee, bankruptcy search
fee incurred by financial institutions and solicitors attending to the loan documentation
in relation to the loan which are payable by the borrower.

Endowment Mortgage
Type of mortgage where monthly payments are made into a endowment (life assurance) policy. The loan is paid off in one lump sum at the end of the loan period.

Fixed-Rated Mortgage
A mortgage on which the interest rate is set for the term of the loan, regardless of future interest rate fluctuations. This makes payments precisely predictable, but it is not always the cheapest alternative.

Flat Rate
A term used to describe interest that is charged as a fixed percentage of the loan amount
throughout the tenure of the loan. The flat repayment amount is usually determined before the commencement of the repayment programme. For example, interest charged on a RM10,000 loan at a flat rate of 10% per annum is RM1,000 annually until the loan is fully settled.

Floating Rate Loan
A term used to describe a loan, where the interest charged fluctuates due to the rise and fall of a certain indicator such as the Base Lending Rate.

Freehold
Absolute ownership of property and land.

Graduated Payment
A scheme that allows the borrower the flexibility to pay a lower installment sum at the beginning of the loan tenure before progressing onto a higher installment sum as the borrower’s purchasing power improves.

Gross Monthly Household Income
The sum of gross monthly pay of all working family members before deducting income tax, Sosco, EPF, loan installment or other deductions plus any additional income from overtime, commissions and other sources.

Lease
Document in which the owner of a freehold property lets out their premises to a named party at a certain price and for a specified time.

Leasehold
The ownership of a lease.

Loan Tenure
Number of years taken to fully repay the loan principal and interest as agreed under a specific repayment programme.

Margin of Financing
The loan amount granted by the financial institution, expressed as a percentage of the value of property pledged to secure the loan.

Maturity
The date on which the principal balance of a loan is due and payable

Mortgage
A long term loan to fund the buying of a property.

Mortgage Term
Period over which mortgage is to be repaid.

Mortgage Over Finance (MOF)
A percentage figure indicating the size of the housing loan on a property in relation to its value. Thus, a house worth RM500 000 with a mortgage of RM400 000 would have a MOF of 80%. Most banks and financial institutions have better housing loan deals for MOF 80% and below. The maximum MOF that lenders can legally go to in Malaysia is 90%- 100%.

Mortgage Reducing Term Assurance (MRTA)
A term insurance which reduces over the tenure of the loan. This form of insurance is used to provide cover for the outstanding loan amount, in the event of death or total permanent disability of the insured. MRTA is normally calculated to meet the outstanding loan amount.

Sale and Purchase Agreement
A written contract signed between the buyer and seller stating amongst others, the terms and conditions under which a property will be sold.

Stamp Duty
A government tax.

Term Loan
A loan which is repaid through regular periodic payments, usually over a period of time, for example 10 years.

Title
A legal document establishing the right of ownership on a property.

Wednesday, January 12, 2011

platinum victory - jln genting klang

latest update for platinum victory condo, not sure it's phase 3 or phase 4 &5.. but it looks like gonna be completed soon..

Sunday, January 2, 2011

Hi 2011

Saying hi to 2011..
one minute it's year 2010 and the next minute it's year 2011...
how fast time flies...

feel like i've not done anything in year 2010..

now it's a brand new year..
new year, new hope

hoping for a good health & wealth! hehe
prosperity haha..
hoping for something good for my career...

just wish that this is a great new year..with lots of blessings, joys, laughter, happiness & good health

happy new year!
2011!

Sunday, December 19, 2010

Rich Dad Poor Dad

Robert Kiyosaki thinks it's foolish to simply say to a child to study hard, get a good grade and you'll get a good job, a secured job with high pay and great benefits.

I couldn't agree with him more. It was something that i used to believe when i was a little girl. All i know is that education is important. Only well-educated person will excel in life, will get a good job with promising future. All i know was that i have to study hard to get good grades, to get to a better high school and a better class with those good grades. I did it and i continued to work hard so that i can get into the sciences stream with good grades as everyone says good students/bright students go to the sciences stream. I followed the advice thinking only students with good result get into university and a university graduate will have a good job in the future while those not-so-good student will end up looking for job after high school. It struck me when basically everyone goes to university or college, be it a straight As student or a straight Bs student. Eventually everyone is a degree holder. University graduates are every where. The 'degree' thing is not something so precious as it used to be many many years back. It's not the good grades that decide the promising job/high pay. To me, the path that you chose is very important, as in Robert's favourite poem, the road not taken, the path that you take, make all the difference.

' I shall be telling this with a sigh
somewhere ages and ages hence
2 roads diverged in a wood, and I...
I took the one less traveled by
and that has made all the difference'

Rich dad said: Life is the best teacher of all. Most of the time,life does not talk to u. It just sort of pushes you around. Each push is life saying:wake up, there's sthg i want you to learn.

Sunday, December 12, 2010

MPH Book Voucher

I love Books! I Love Stories...
All i want for Christmas this year is book & cant believe Santa heard me.

Ironically it's my bro who doesnt read book won the MPH book voucher contest. I was just hoping that either one of us can win the contest & consolation prize will be good enough & it was really so surprising when i saw my bro's name as the first prize winner. First Prize! unbelievable! Since he doesnt buy books, that RM90 voucher are all mine! it was really the greatest gift i've ever had! really love that vouchers so damn much!

So here i go, heading to One-U to collect the vouchers.

Xmas is in the air

Arriving MPH One-U

Browsing around my favourite section - thrillers
Too many books to be bought, rm90 is never sufficient!

Deciding whether to get myself a Trump's book or Robert's

Here it is, 18 pieces of RM5 vouchers!

Finally, bought Peter James' Dead Tomorrow, Robert's Rich Dad Poor Dad & Sidney Sheldon's sequel/Tilly Bagshawe's Mistress of the Game

Saturday, December 4, 2010

- Tangled -

watched Rapunzel - Tangled few weeks ago and fall in love with it immediately.
It's really very funny..everyone in the cinema has a great time laughing..
& it's touching too!
every character is so unique & funny
Flynn Rider & Rapunzel are handsome & pretty! haha

everybody loves Eugene/Flynn Rider!

Frying Pan - what a good fighting weapon!

My Favourite movie of the year!

LOVE the soundtracks too!
I See The Light (by Zachary Levi & Mandy Moore)

another soundtrack: when will my life begin
http://www.youtube.com/watch?v=-Lk-1iMPUkg

Sunday, November 21, 2010

ZetaPark

Just realized ZetaPark is along jln genting klang, setapak. It's also just beside the Platinum Walk. The Zen Suites at ZetaPark is just launched this month. The Zen Suites will be above the Festival City Mall where Parkson will be opened.

The Zen Suites is an idea of style.. It features 288 units and the layout sizes range from 515sq ft, 618, 677, 769 to 963 sq ft.