Recently I bought the property at rm528k. Its still under construction and I only paid rm4k as booking fee. Then developer helping me find the loan.
After almost a month, we get loan approval from Public Bank. However, they only approved for 70% and thats mean I have to pay another 30%, RM158k for the deposit which is I really out of budget for that. For pre-evaluation, developer said I can get 90% loans without any problem based on my salary. Then when bank's officer make assessment on my application, he said I only can get 85% which is still OK with me. However their final decision is 70% and its really unexpected.
Since I just couldnt afford to prepare extra RM100k for my deposit, I would like to cancel from buying this house.
The question is, can I get back my deposit RM4,000? As I cancelled it not because I change my mind but its just in-affordable for deposit and even developer surprised with the outcome from the bank. I tried applied from several bank and all of them just cant process my application as they not developer's panel bank. So I only have the only one bank that I have to rely with, this bank - Public Bank.
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