Housing Loans

Maybank rolls out lowest rate

IN A bid to increase its slice of the housing pie, Maybank has rolled out a three-year fixed-rate loan package with first-year interest at 1.6 per cent - the lowest of its kind in Singapore. With second- and third-year interest at 2.2 and 2.9 per cent respectively, that works out to an average of 2.23 per cent per annum over three years. This is even lower than the HDB‚s concessionary rate of 2.6 per...

Breathing room for homeowners

Avoid foreclosure by granting moratoriums on loan repayment AS THE economic crisis deepens, banks should expect more people to default on their housing loan repayments. Under the circumstances, is it in the interest of the banks to implement the commonly-practised course of action of repossessing the property and foreclosing the loan? Granting the struggling debtor a moratorium and waiting for a better...

Do your homework

Some mortgage rates are rising; shop around before making a choice As global interest rates fall, you would expect more homeowners to be tempted into taking up mortgages pegged to the Singapore Interbank Offered Rate (Sibor) or Swap Offer Rate (SOR). After all, the three-month Sibor rate is currently around 0.68 per cent - just shy of its all-time low of 0.63 per cent. However, instead of resulting in...

DBS Home Loan

Managed Mortgage Why put up with ambiguous mortgage rates when you can enjoy absolute transparency with DBS Managed Mortgage? Taking up a mortgage is probably one of the most important financial decisions you'll ever make. After all, it is a lot of money for a very long time. So instead of accepting mortgage rates that are subject to the discretion of banks’, make the switch to our Singapore Interbank...

More looking to refinance home loans with lower interest rates

More people are looking to refinance their home loans in the past few months with lower interest rates, but not without difficulties. Key benchmark interest rates have been dropping since governments around the world embarked on their rate cutting campaign a few months ago to revive the slumping economy. As a result, the Singapore Interbank Offered Rate (SIBOR) has more than halved in the past three to...

Industry players expect more homeowners to refinance their mortgage loans

Industry watchers expect more home owners to consider refinancing their mortgage loans as interest rates look set to dip further. In fact, mortgage and financial planning firm SingCapital has seen a three-fold jump in enquiries in the last two months. Property agents are also getting a crash course in mortgage planning, including answering questions about refinancing of home loans. This occurs when...

Industry watchers expect SIBOR to dip 0.5 percentage point in 6 months

The Singapore Interbank Offered Rate or SIBOR is expected to dip a further 0.5 percentage point over the next six months. Industry watchers said this will present an opportunity for homeowners and companies to refinance loans on their properties. The US Federal Reserve recently cut its benchmark interest rate to 2.25 per cent in a bid to prop up the American economy. And this has indirectly put a drag...

Analysts say banks yet to respond to call for mortgage rate cuts

With global interest rates trending downwards, some Singapore homeowners are hoping to see a similar move in mortgage rates. This is especially after the Singapore Interbank Offered Rate (SIBOR) hit its lowest level in almost four years in late December - at 1.5 percent. However, some analysts have said that the banks may not be willing to lower rates, in light of the current volatility in global...

Not to Do(s) When Financing / Refinancing

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...

Choosing the right loan

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...

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