Uob Home Loan

[GetLost]

We're trying to buy a (new) house and everything is ready to sign, except the figures don't work out. When I asked, they had not only insisted on me and my wife having life insurance, but they also whacked it (200k) on the loan to charge me interest!I have discovered that it's not mandatory and they still want me to have it. As far as I know, if I die 80% into the loan period, they'll clear the difference, not pay the full loan (2.6m), leaving my wife the change.I'm trying my best to stand firm.Any constructive ideas out there?Thanks

[quiksilva]

Try another bank?

UOB did this to us too, they stood their ground and with little other options available to us at the time we took it. But we refinanced after 3 years with Standard Chartered Bank, who offered much better terms and managed to reduce our monthly burden by almost 50%, oh and we got the insurance refunded from UOB too.

[GetLost]

Interesting. Thanks. My wife just wants to get it done with (to not make a fuss) but it's a lot of money and some lying.

I'm happy (more than happy, after the amount they've screwed us around asking for yet another document) to wait another week for them to print a new set of documents.

[GetLost]

Does anyone think I'll be able to have no life insurance, or UOB will insist on me buying it from somewhere?

[dave111223]

Krung Thai did the same however with them you only have to pay the life insurance on a yearly basis, so you just pay the first year to get the loan, then just stop paying the insurance, and they basically can't do anything to force you to continue paying the insurance.

[GetLost]

They won! I can't type my feelings for them (UOB) and this whole place.

No mention of it when we paid the 20,000B deposit. Nor when we coughed up the next 150,000B. Now, they're saying they'll lend us 2.8m when we asked for 2.6m (the extra 200k is the insurance) OR 2.0m with no insurance. Even though they did fax through repayment of borrowing 2.6m. If we stand firm, we have to wait for 'a boss' to return from vacation to remake documents. (convenient) That's two weeks and another month's rent. If I pull out and say 'f#@* 'em, I'll have just as much stress trying to get all my money back.

Let this be a warning to anyone else.

[DPlover]

They won! I can't type my feelings for them (UOB) and this whole place.

No mention of it when we paid the 20,000B deposit. Nor when we coughed up the next 150,000B. Now, they're saying they'll lend us 2.8m when we asked for 2.6m (the extra 200k is the insurance) OR 2.0m with no insurance. Even though they did fax through repayment of borrowing 2.6m. If we stand firm, we have to wait for 'a boss' to return from vacation to remake documents. (convenient) That's two weeks and another month's rent. If I pull out and say 'f#@* 'em, I'll have just as much stress trying to get all my money back.

Let this be a warning to anyone else.

I got the same shit from bbl recently too

[DPlover]

I got the same shit from bbl recently