Finance

Purchasing a property in Singapore can be a daunting task, especially when it comes to financing. Whether you're a first-time homebuyer or a seasoned property investor, understanding the financing options available to you is crucial to making the best decision for your financial future. In this guide, we'll take a look at the different ways to finance a property purchase in Singapore, what to look out for...

There will be more temporary relief measures for property developers whose construction schedules have been affected by the Covid-19 crisis. The Government said on Thursday (Oct 8) that developers have six more months to complete residential, commercial and industrial development projects, for instance, and the added measures will take effect immediately. A first round of measures was announced in...

OCBC Bank has launched a new Sora-based home loan, which references the three-month compounded Singapore overnight rate average (Sora) that is published by the Monetary Authority of Singapore (MAS). The three-month Compounded Sora Home Loan is available for all loan types - completed properties, properties under construction, new home loans and repricing of existing home loans. This comes as the...

Home owners hoping for some relief from their monthly mortgage repayments may be in for some disappointment, even if a benchmark local interest rate, which many home loans are pegged to, has edged down following a recent rate cut by the US Federal Reserve. This as some banks have begun trimming their home loan interest rates as early as April in anticipation of the Fed’s move, market watchers told...

Central Provident Fund (CPF) members will continue to earn interest at 2.5 per cent per annum on their Ordinary Account (OA) and at 4 per cent per annum on their Special and Medisave accounts (SMA) between Jul 1 and Sep 30. The concessionary interest rate for Housing and Development Board (HDB) mortgage loans - pegged at 0.1 per cent above the OA interest rate - will remain unchanged at 2.6 per cent per...

New rules on buying homes using CPF or HDB housing loans will be introduced, that will focus on whether the remaining lease of the property can cover the buyer until at least age 95. This was announced on Thursday (May 9) by the Ministry of National Development (MND) and Ministry of Manpower (MOM). The changes, which apply to the purchase of HDB flats, private properties and executive condominiums,...

A residential property is the biggest financial asset most of us will own. Before purchasing a property, it is important to know how much you can borrow, understand the types of mortgage packages available, and what your options are when interest rates rise. How much can you borrow? There are several online resources that can help you calculate how much you can borrow from a bank based on the total...

Prospective home owners will now find it easier to apply for home loans with the launch of United Overseas Bank’s (UOB) fully digital home loan system, the bank said on Tuesday (Aug 7). The new system includes the first bank-backed instant property valuation service in Singapore, and matches buyers to bankers via the GetBanker digital service. The service sees UOB partnering with four other...

DBS Group Holdings said that the recent rush buy property ahead of the Singapore government's latest price cooling measures may give a temporary boost to its mortgage business but in the longer term, the market is likely to slow down. The country's largest bank expects "a slight ramp-up in mortgage financing requirements" in the next one or two months as a result of the July 5 rush to purchase...

AS expected, the Singapore dollar fell and local interest rates rose on Thursday following the interest rate hike by the US Federal Reserve. The Fed raised the target range for its federal funds by 25 basis points to 0.5 per cent to 0.75 per cent during its Dec 14 meeting. At 8.30am on Thursday, one US dollar was worth S$1.4432, up 1.4 per cent from its close on Wednesday of S$1.4237, said Reuters....