Total bank lending in Singapore rose 17.3 per cent in February to S$334 billion from a year earlier, data released by the Monetary Authority of Singapore showed. Month-on-month lending rose 1.6 per cent - lower than the 1.8 per cent rise in January. Higher housing loans to consumers were among the big contributors to last month's rise in total bank lending. But analysts expect this segment to slow down...
Property Loans
Foreign banks are turning up the heat in the mortgage loan war among banks. Compared with their local counterparts, they are offering much more attractive packages. Maybank, HSBC, ANZ and CIMB Bank are some of the foreign banks offering tantalising home loan rates here. Most home loans here are pegged to the Singapore Interbank Offered Rate (SIBOR), which currently stands at 0.44 per cent. For the first...
Banks are now providing a degree of flexibility when granting loans to home buyers who are moving from one home to another. They are granting loans of up to 60 per cent of the property's value first, and increasing it to 80 per cent later. The move is introduced to help property upgraders save time and money as they navigate tricky timelines created by new property financing rules first introduced last...
1 The Government announced today the following measures to maintain a stable and sustainable property market: a. Increase the holding period for imposition of Seller’s Stamp Duty (SSD) from the current three years to four years; b. Raise the SSD rates to 16%, 12%, 8% and 4% of consideration for residential properties which are bought on or after 14 January 2011, and are sold in the first, second,...
The Government has announced more measures to maintain a stable and sustainable property market. From Friday, the holding period for imposition of Seller's Stamp Duty (SSD) will be raised to four years from the current three. The SSD rates would also be raised while the Loan-To-Value (LTV) limit would be lowered to 50 per cent on housing loans for property buyers who are not individuals. The LTV limit...
The battle among banks here - both local and foreign - to acquire mortgage customers is intensifying as expectations gain ground that the Government will announce new measures to cool the residential property market. Malaysian bank CIMB, for instance, is offering to charge private-home buyers only 0.65-per-cent more than the three-month Singapore Interbank Offered Rate (Sibor), which is currently at 0.44...
Sibor, commonly used by Singapore banks to peg their variable home loan rates, hits its lowest in 23 years Record-low interest rates could re-ignite the price war for a piece of the home loan pie, industry observers said. The benchmark Singapore interbank offered rate for three-month Singapore-denominated loans (Sibor) was at 0.44 per cent on Friday - its lowest in 23 years, according to Bloomberg...
Maybank S'pore ups the ante in residential mortgage market Maybank Singapore has raised the bar in the home loans market with a slew of offerings that include mortgage rates below 1 per cent. Its fixed rate packages, with either a three or five-year fixed term, offer the lowest rate in town at 0.88 per cent a year in the first year. For its home loans pegged to interbank lending rates, Maybank is...
Maybank Singapore has raised the bar in the home loans market with its slew of latest offerings that include mortgage rates lower than one per cent in the first year. For instance, its fixed rate packages with either a three or five-year term offers the lowest rate in town at 0.88 per cent a year in the first year. As for its home loans that are pegged to interbank lending rates, Maybank is offering...
The percentage of mortgagors falling behind in their repayments in Singapore has halved over the last two years. Releasing the data on Monday, DP Credit Bureau (DPCB) said the average default rate fell to 0.43 per cent in March this year compared to 0.89 per cent in March 2008. This means that in 2008 one in every 112 mortgagors was in default on their repayments, and this figure dropped to just one in...