1. Preheat the griddle for the pancakes.
2. Preheat the waffle maker for the waffles.
3. In a mixing bowl, add the all purpose flour, baking powder. Mix well and set aside.
4. In another large mixing bowl, add the condensed milk, butter. Using an electric mixer, beat this mixture slowly until well combined.
5. Add oil, vanilla extract and beat again.
6. Slowly add in 1/2 of the flour, warm milk and beat the mixture at a slow speed.
7. Add the rest of the flour, milk and beat again until well combined.
8. Spray oil over the waffle maker and pour about 1/4 cup of the batter into the mold. Cover and let it cook for 3-4 minutes or until golden brown.
9. Lightly spray the griddle with oil and pour about 1/4 cup of the batter onto the pan. Cook this until the bubbles form on the top surface and turn it over to cook the other side until light golden brown.
10. Serve the pancakes hot with a cube of butter.
11. Serve the waffle with a scoop of low fat cream and fruits.