Maybank says it wants to grow its home loan business in Singapore.This was announced on Wednesday during a news briefing to introduce its new Singapore country head - Pollie Sim. Over the past year, Maybank's share of the home loans sector in Singapore grew by three-fold, with 30 percent coming from HDB homeowners. As part of the strategy to focus on the development of its consumer banking business,...
Finance
One of the most common pieces of financial advice is to make and stick to a budget. But what does that mean exactly? It’s easy to know if you can or cannot afford that purchase at the grocery store simply by looking in your wallet. But how do you know if you can handle big-ticket items like a car or a plasma TV? Knowing how to budget can mean the difference between early retirement and working until...
Financing a home could get more expensive soon as consumer banks appear to be gearing up for another round of rate hikes for their home loan offerings. Borrowing costs, especially on the residential property front, will get even more expensive soon. The six-month interbank rate, the benchmark at which banks price their deposit rates, has been rising steadily. It is now up by close to 40 basis...
If you are looking to finance or refinance your home, here are a few things NOT TO DO: Don’t Kick The Tires. How much you put down, credit affects your interest rate. It drives lenders crazy to pick up the phone and be asked what their best rate is. How much you put down on your home and how good your credit is directly affecting the interest rate on your loan. You can shop for rates, but be prepared to...
Rates are among the most important criteria when choosing a home loan. Other factors include one’s financial situation, risk appetite, and the need for flexibility. You should also consider issues such as lock-in periods, legal fee subsidies, stamp fees, valuation, insurance, processing fee and legal fees. Most importantly, one must choose a bank that they are comfortable in doing business...