No, LPPSA will fund the cost of legal fees related to the provision of financing documentation only. The cost of legal fees related to the sale and purchase agreement (SPA) and the cost of transfer are not included in the scope of LPPSA financing.

No. The cost of legal fees not included in the total financing is as follows:

i. Trading fee (SPA / S & P)
ii. Transfer of property (Memorandum of Transfer)
iii. Caveat
iv. Stamp Duty
v. Statutory Declaration

January 1, 2018

Applicants need to obtain a quotation from a lawyer and submit the quotation using the quotation of the cost of legal fees provided by LPPSA and submitted with the application.

LPPSA will fund the cost of legal fees for financing documentation managed by all lawyers whether the LPPSA panel lawyers or otherwise.

No.

Probably because the financing of legal fees is an option for the applicant.

If the estimated cost of the legal fees applied for is lower than the actual legal fees, the applicant will have to settle the difference first.

If the estimated cost of the legal fees applied for is higher than the actual legal fees, the difference will be considered as overpayment and will be returned to the applicant upon completion of financing after taking into account the debt (owing), if any.

Yes