PN
Phumzile N
1 reviews | Active since Jun 2017
21 Jun 2019, 12:24
*********** builders from Mdv development
Hi I bought a house with Mdv last year, completed all paper work necessary, signed with their lawyers last year. Builders were suppose to start building in Jan 2019, they postponed and said I should reallocate the house end of April.
When end of April came, they didn't even start to build the house. Then they said end of May. Still nothing only in June and Dylan the site manager said it will be done end of June. Now he's singing another tune, saying mid July, my son is supposed to be going to the new school, as we asked for a transfer.
Is this how Mdv treat their customers, and fullfil their promises.
Bear In mind that I started paying interest on this house in January. For something I don't even have six months later.
Regards Phumzile
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MDV Developments's replyOfficial
07 Jun 2023, 16:17MDV successfully developed and delivered close to 8,000 bonded houses over the past 18 years enabling many satisfied customers to become first time homeowners.
• Sales normally commence once a new township has been proclaimed and individual stands become sellable.
• Servicing of any township (Roads, water, sewer and electricity installed) with the size of Wilfordon Ext 10 or 11 can take anything from 8 to 12 months depending on the handover time of such a township to the local authority once services are installed. When handed over to the Council a Sect 82 certificate is issued by the Council confirming the installation of the services, enabling the Conveyancing Attorney to transfer stands already sold to the individual clients. Council dictate the time frames and we have no control.
• Once transfer has taken place the construction of any new house can take anything between 12 and 16 weeks although applying for and installing individual water and power meters to the individual houses can take another 3 to 5 weeks (again - if no delays experienced from the council).
• Once installed an Occupation Certificate is issued by the local building inspector whereafter occupation can take place. Thank you.
Many clients finance their new homes via building loans granted by all major banks. A building loan enables the client to pay for and transfer the serviced stand into his/her name prior to the house being built thereon. During the construction phase the banks pay progress draws to the builder as they progress in the construction of the house.
Draws against the building loan, including the initial payment of the stand, limits the interest payable on the loan to the funds dispersed against the loan at any point in time.
Some banks capitalize the interest to your home loan meaning that interest only needs to be serviced after occupation as part of your monthly home loan repayment. Other banks require the client as the beneficial owner of the stand to service the interim interest on the outstanding balance of the loan prior to occupation, limiting the outstanding debt due by the client.
MDV will gladly answer any questions clients might have in this regard. MDV understand cashflow remains a concern whilst your house is being build and will assist clients wherever possible, whilst waiting for their new home.
• Sales normally commence once a new township has been proclaimed and individual stands become sellable.
• Servicing of any township (Roads, water, sewer and electricity installed) with the size of Wilfordon Ext 10 or 11 can take anything from 8 to 12 months depending on the handover time of such a township to the local authority once services are installed. When handed over to the Council a Sect 82 certificate is issued by the Council confirming the installation of the services, enabling the Conveyancing Attorney to transfer stands already sold to the individual clients. Council dictate the time frames and we have no control.
• Once transfer has taken place the construction of any new house can take anything between 12 and 16 weeks although applying for and installing individual water and power meters to the individual houses can take another 3 to 5 weeks (again - if no delays experienced from the council).
• Once installed an Occupation Certificate is issued by the local building inspector whereafter occupation can take place. Thank you.
Many clients finance their new homes via building loans granted by all major banks. A building loan enables the client to pay for and transfer the serviced stand into his/her name prior to the house being built thereon. During the construction phase the banks pay progress draws to the builder as they progress in the construction of the house.
Draws against the building loan, including the initial payment of the stand, limits the interest payable on the loan to the funds dispersed against the loan at any point in time.
Some banks capitalize the interest to your home loan meaning that interest only needs to be serviced after occupation as part of your monthly home loan repayment. Other banks require the client as the beneficial owner of the stand to service the interim interest on the outstanding balance of the loan prior to occupation, limiting the outstanding debt due by the client.
MDV will gladly answer any questions clients might have in this regard. MDV understand cashflow remains a concern whilst your house is being build and will assist clients wherever possible, whilst waiting for their new home.
Best regards,
MDV Developments's reply07 Jun 2023, 16:17
Official
MDV successfully developed and delivered close to 8,000 bonded houses over the past 18 years enabling many satisfied customers to become first time homeowners.
• Sales normally commence once a new township has been proclaimed and individual stands become sellable.
• Servicing of any township (Roads, water, sewer and electricity installed) with the size of Wilfordon Ext 10 or 11 can take anything from 8 to 12 months depending on the handover time of such a township to the local authority once services are installed. When handed over to the Council a Sect 82 certificate is issued by the Council confirming the installation of the services, enabling the Conveyancing Attorney to transfer stands already sold to the individual clients. Council dictate the time frames and we have no control.
• Once transfer has taken place the construction of any new house can take anything between 12 and 16 weeks although applying for and installing individual water and power meters to the individual houses can take another 3 to 5 weeks (again - if no delays experienced from the council).
• Once installed an Occupation Certificate is issued by the local building inspector whereafter occupation can take place. Thank you.
Many clients finance their new homes via building loans granted by all major banks. A building loan enables the client to pay for and transfer the serviced stand into his/her name prior to the house being built thereon. During the construction phase the banks pay progress draws to the builder as they progress in the construction of the house.
Draws against the building loan, including the initial payment of the stand, limits the interest payable on the loan to the funds dispersed against the loan at any point in time.
Some banks capitalize the interest to your home loan meaning that interest only needs to be serviced after occupation as part of your monthly home loan repayment. Other banks require the client as the beneficial owner of the stand to service the interim interest on the outstanding balance of the loan prior to occupation, limiting the outstanding debt due by the client.
MDV will gladly answer any questions clients might have in this regard. MDV understand cashflow remains a concern whilst your house is being build and will assist clients wherever possible, whilst waiting for their new home.
• Sales normally commence once a new township has been proclaimed and individual stands become sellable.
• Servicing of any township (Roads, water, sewer and electricity installed) with the size of Wilfordon Ext 10 or 11 can take anything from 8 to 12 months depending on the handover time of such a township to the local authority once services are installed. When handed over to the Council a Sect 82 certificate is issued by the Council confirming the installation of the services, enabling the Conveyancing Attorney to transfer stands already sold to the individual clients. Council dictate the time frames and we have no control.
• Once transfer has taken place the construction of any new house can take anything between 12 and 16 weeks although applying for and installing individual water and power meters to the individual houses can take another 3 to 5 weeks (again - if no delays experienced from the council).
• Once installed an Occupation Certificate is issued by the local building inspector whereafter occupation can take place. Thank you.
Many clients finance their new homes via building loans granted by all major banks. A building loan enables the client to pay for and transfer the serviced stand into his/her name prior to the house being built thereon. During the construction phase the banks pay progress draws to the builder as they progress in the construction of the house.
Draws against the building loan, including the initial payment of the stand, limits the interest payable on the loan to the funds dispersed against the loan at any point in time.
Some banks capitalize the interest to your home loan meaning that interest only needs to be serviced after occupation as part of your monthly home loan repayment. Other banks require the client as the beneficial owner of the stand to service the interim interest on the outstanding balance of the loan prior to occupation, limiting the outstanding debt due by the client.
MDV will gladly answer any questions clients might have in this regard. MDV understand cashflow remains a concern whilst your house is being build and will assist clients wherever possible, whilst waiting for their new home.
Best regards,