OCBC increased board rate by 0.6%

[henryhk]

Nope, no repricing fee as i had one time free conversion.
MAS waived tdsr requirements for ppty bought before june 2013 if it is owner occupied. Need to show proof of ownership and a whole lot of documents. For mine, investment, just needed to make 3% partial capital repayment and can reprice without any tdsr rules...

Thanks for info.... Wah got such ting, 3% partial repayment, can reprice without TDSR, .... Eventually the banks still make

[Esso99]

Thanks for info.... Wah got such ting, 3% partial repayment, can reprice without TDSR, .... Eventually the banks still make

Hi,

No leh, i dont agree the banks make.
by making 3% partial repayment, 100% of it goes to reducing the principal of the housing loan, hence after reducing it, the principal which is charged interest is lower and you fix your interest for 2 years. dont need to worry about what fed announces or dont announce haha. can sleep better at night also

and yes, for investment ppty MAS came up with guidelines that as long as u commit to a capital repayment with the bank, they will waive tdsr requirements as long as ppty purchased before june 2013.

[henryhk]

Hi,

No leh, i dont agree the banks make.
by making 3% partial repayment, 100% of it goes to reducing the principal of the housing loan, hence after reducing it, the principal which is charged interest is lower and you fix your interest for 2 years. dont need to worry about what fed announces or dont announce haha. can sleep better at night also

and yes, for investment ppty MAS came up with guidelines that as long as u commit to a capital repayment with the bank, they will waive tdsr requirements as long as ppty purchased before june 2013.

I c, thanks... I will see I can pass the TDSR requirement, but I won't do capital repayment, .... MAS really squeeze us lor... But no big deal, we are here for the long run, rental is good for my unit, I rather keep more cash to buy more properties , actually now rental is still low

[newbie11]

Because u fail tdsr, debt reduction is required. There's no such thing as total Tdsr exemption

[MortgageGuru]

Because u fail tdsr, debt reduction is required. There's no such thing as total Tdsr exemption

that's in laymen term.

If they can't accept debt reduction, even if before 2013, they won't be able to refinance/reprice either.

However, some bank does charge interest on debt reductions.

[Cool East]

I haven't reprice yet. Will call them to see the package for reprice 3 months befo contract. Anyway, fixed rates after 2 years also will not fixed anymore..... I still tink sibor rates most transparent, I remember last time wen I read the papers and mentioned tat the board rate of another bank decrease, I call the bank and they tells me it is for new customers, but wen increase everybody get hit.... a lot of funny tings u know only wen u are in it

I just read this. Also got the 0.6% increase letter and moving into 3rd year interest rate jumped from 1.08% to 1.98%. I sought to reprice with them (started a Thread on this also) cos was tied down by their legal subsidy for 3 yrs but the offer was really poor. Hence, sought advice from experts here.

[sabian]

its the same, if FHR were to increase, SIBOR will go even higher.

And here we are more than a year later...SIBOR shd have gone through the roof by now if I believed all the brokers who were shepherding the herd towards fixed rates.

[azeoprop]

Actually sibor has dropped to about 0.8%

[Kelonguni]

The spread is about 0.8 to 1.0 right?

Actually sibor has dropped to about 0.8%

[MortgageGuru]

It's still a good fixed rate in the current market for those that took up a year ago. You're probably paying about 1.6/1.7% for fixed rate while SIBOR loans were paying about 1.8/1.9%.
It's not justified to say that taking up fixed rate a year ago was a wrong move when sibor only drops to 0.8% region this month.
Even at 0.8%, adding on a spread of 0.7% you're paying 1.5% for a floating rate while a fixed rate taken up a year ago is going at additional of 0.1-0.2% above for a piece of mind. If not for Brexit, sibor wouldn't go down. Don't tell me you can forecast Brexit.

[Kelonguni]

Yeah I refinanced at 1.65%.

If conditions change can switch to Sibor as well.

I don't think Sibor can drop much further, although it doesn't seem like it will rise much.

It's still a good fixed rate in the current market for those that took up a year ago. You're probably paying about 1.6/1.7% for fixed rate while SIBOR loans were paying about 1.8/1.9%.
It's not justified to say that taking up fixed rate a year ago was a wrong move when sibor only drops to 0.8% region this month.
Even at 0.8%, adding on a spread of 0.7% you're paying 1.5% for a floating rate while a fixed rate taken up a year ago is going at additional of 0.1-0.2% above for a piece of mind. If not for Brexit, sibor wouldn't go down. Don't tell me you can forecast Brexit.

[Count]

Fixed or floating ultimately boils down to personal risk appetite, exposure etc. No right or wrong except with benefit of hindsight, which none of us will have at the point of decision making. As a borrower on a fixed rate loan, I'm just happy we are looking at Low rates to continue for the near future, as it means I'll continue to enjoy low rates when its time to refinance.