Singapore's big lenders are aggressively lowering rates to beat off competition from each other and smaller finance houses in a hot home loans market. Financiers had the lowest interest rates at the start of the year, but three months on, banks have also started dropping prices. The Singapore property market is heating up, helping to propel the home loans space. Competition is stiff among major local...
Property Loans
Mass market home prices have surpassed the previous 2008 peak. But because home loan interest rates remain at an all-time low, these homes are still seen as affordable, property consultancy DTZ said. Its head of South-east Asia research, Ms Chua Chor Hoon, said its mass market affordability index shows that such homes at the end of the first quarter of this year were more affordable, compared with the...
Where do you see this? In finance articles and websites relating to home loans. What does it mean? It is prudent to review your home loan once in a while by checking on the available loan packages at your existing bank and those of other lenders. You refinance when you switch to a new home loan either with your existing bank or another bank. And when you switch to a new loan with lower interest rates...
Short-term trading profits in real estate are not high, while the risks are considerable. DENNIS NG shows you the numbers IT'S tough enough figuring out which housing loan package is the best for you. But how will the latest changes in property financing rules affect your property purchase? The recent curbs on the property market include measures such as the scrapping of interest-only loans, capping...
SINGAPORE'S largest financial company Hong Leong Finance (HLF) will be offering deposit and loan packages exclusively at its City Square Mall branch. This is in tandem with the mall's official opening this weekend. The branch will be open from 9am to 4pm today and tomorrow. HLF will be extending competitive home loan rates for nearby condominium City Square Residences, as well as private home owners....
Some banks are rolling out new services and attractive mortgage packages to increase their market share in the private housing loan sector. Banks such as Standard Chartered has set up a service counter to offer loan evaluations at show flats. Said Dennis Khoo, general manager of Wealth Management Consumer Banking at Standard Chartered Bank: "I think it's even better prudence because before (a buyer) puts...
The demand for home loans has escalated, on the back of the booming property market in Singapore. Some banks, like OCBC, said they have seen loan approvals double in the second quarter, compared to the first three months. And industry players expect this momentum to continue into next year. Private home sales in Singapore have been on the rise since February, where 11 times more home were sold...
HSBC is shaking up the home-loans market here by offering a so-called benefits portability feature in such loans. It is enabling its home loan customers who sell their property to continue from where they left off on the sliding interest rate spread on their new home loans. For example, if a customer sells the property in the third year of the loan, he can enjoy a first year loan interest rate of 1.69...
DESPITE the current global economic downturn, home buyers today are still spoilt for choice when it comes to taking a loan from financial institutions here. Since January 2003, buyers of Housing and Development Board (HDB) flats no longer have to take a loan from the Government-backed provider of more than 82 per cent of Singapore's homes. And since then, the HDB has stopped giving out what it terms...
More banks here offering new competitive rates A HOME loan war is hotting up among banks in Singapore, with new player the State Bank of India (SBI) and Standard Chartered Bank launching attractive home loan packages this week that could potentially stir other banks to respond with even more competitive packages. SBI - India's largest bank that only started operations here last year - has offered a...