Saturday, September 28, 2019

'Review fees for loan documents'

The Bar Council said it is high time for banks to review its practice of imposing fees for loan documents. (Image by Pixabay:  For illustration purposes only)

New Straits Times

Banks' practice against the law, a burden to customers, says Bar Council official 

KUALA LUMPUR: The Bar Council said it is high time for banks to review its practice of imposing fees for loan documents.

Bar Council conveyancing practice committee chairman Datuk Roger Tan said the practice was against the law and has a become a burden which consumers could do without.

He said the fee was imposed on the banks’ loan documents, which borrowers sign when taking, for example, a housing loan.

“These documents are largely standardised documents for each bank.

“The bank’s solicitors will typically download the documents from the bank’s website and, after completing the particulars relating to the borrower and the loan, print for the borrower’s signature,” said Tan.

He said banks currently charge a fee for the ‘purchase’ of these documents ranging from RM100 to RM500, even though the cost of printing the documents is borne by the solicitors.

He said that the document fee is usually passed on to the borrowers as part of the solicitor’s charges. However, Tan said that in some cases, solicitors are compelled by the banks to absorb these costs.

“This results in the borrowers having to pay additional costs when taking a loan from a bank and the solicitors getting peanuts for the professional work done especially purchasers of low- and medium-cost and affordable homes.

Friday, July 12, 2019

Who is Roger Tan, the lawyer in Pastor Koh and Amri’s task force?

Senior lawyer Datuk Roger Tan Kor Mee  is one of
the two latest additions to the  special task force probing
the high-profile enforced disappearances of Pastor
Raymond Koh and social activist Amri Che Mat.
— Picture via RTNP.my
Malay Mail
by Ida Lim

KUALA LUMPUR, July 12 — Senior lawyer Datuk Roger Tan Kor Mee is one of the two latest additions to the special task force probing the high-profile enforced disappearances of Pastor Raymond Koh and social activist Amri Che Mat, but who is he? 

Tan is currently serving as a Bar Council member, but his peers and his long list of achievements can easily attest that his appointment is not mere tokenism for better diversity in the government’s seven-man task force. 

Here’s a quick look by Malay Mail at Tan’s background, based on his law firm’s website and publicly available information: 

Tan, who was born in Yong Peng, Johor and has a law firm in his home state, graduated with a law degree from Queen Mary College, University of London and also holds a master of law from the National University of Singapore.

Trained as a barrister of the UK’s Gray’s Inn, Tan was admitted as a lawyer in peninsular Malaysia in October 1989 and is also qualified to practise as a lawyer in Singapore. 

Throughout his 30-year career, Tan had actively contributed to the legal community, including as Bar Council member for the years 2004 to 2009, during which he was also the webmaster for the Malaysian Bar’s website which he went on to redesign. 

Monday, January 14, 2019

Unconscionable for banks to seek refuge behind exclusion clauses

The Star
by Roger Tan 

Protection needed: It is time for the government to introduce a legislation or extend the protection currently given to consumers under  the Consumer Protection act, 1999  to all types of contracts, including financial dealings and transactions, involving, particularly, purchasers and borrowers of a housing  development.
In April 2008, a British couple living in the United Kingdom obtained a loan facility of RM715,487 to finance the purchase of their property in Malaysia. It was a term of the loan facility that the bank would make progressive payments to the developer against certificates of completion issued by the architect at each progress billing.

In March 2014, the developer sent a notice for a progressive payment to the bank, supported by an architect’s certificate.

The bank’s disbursement department then sent several internal emails to its branch to conduct site visit inspection on the property.

The branch did not do anything, and meanwhile, the due date for payment had also expired on March 25, 2014.

Neither did the bank notify the developer nor the couple that a site visit inspection was an additional condition precedent to drawdown.

The bank also did not request for any extension of time to make the payment pending the completion of the site visit.

On April 10, 2015, the developer terminated the sale and purchase agreement (SPA), after about one year from the issuance of the invoice.

The couple then sued the bank for breach of agreement and/or negligence.