weighing my refinance options :)

[taggy]

hi All,

my current loan package:
outstanding 550k
out of legal crawback (3yrs), no lock in
current interest rate: 1%+1mth sibor
with interest offset feature

reprice with same bank package(2yr lockin): 0.75+1mth sibor for first 3 yrs, then 1+1mth sibor; no interest offset feature

should i switch to (1)BankOfChina(2yr lockin), 0.55+3mth sibor, then 0.65+3mth sibor?
or (2)take current bank reprice package(2yr lockin)
or (3)stick with current loan(no lock in liao)
or (4) sell away the house, dun waste time thinking

if (1) or (2), i plan to put $$(from current interest offset acct) into cimb bank 0.8%

thanks for your advices.

[flagship74]

hi All,

my current loan package:
outstanding 550k
out of legal crawback (3yrs), no lock in
current interest rate: 1%+1mth sibor
with interest offset feature

reprice with same bank package(2yr lockin): 0.75+1mth sibor for first 3 yrs, then 1+1mth sibor; no interest offset feature

should i switch to (1)BankOfChina(2yr lockin), 0.55+3mth sibor, then 0.65+3mth sibor?
or (2)take current bank reprice package(2yr lockin)
or (3)stick with current loan(no lock in liao)
or (4) sell away the house, dun waste time thinking

if (1) or (2), i plan to put $$(from current interest offset acct) into cimb bank 0.8%

thanks for your advices.

My take is (4)..property in my opinion will crashed..

[deetee]

Feds has committed to a low interest rate for the next 2 yrs. So, my take is to go with Bank of China, their rates are the best now.

I don't expect property market to crash anytime soon.
think about it, even our CPF funds are used to invest in properties for the passive income, do you think our govt wants the market to crash?

Some people are not aware how resilient our property market is. Newspaper might have reported that property prices fell for the 3rd month this year. Err... Actually, have you read the details? 1.x%, 0.x%, 0.x% dropped in last few months. Is there any course for alarm?

The days of speculators in property market have long gone, especially for the residential market. I would buy more properties now if I have the extra cash!

[espeyap]

Feds has committed to a low interest rate for the next 2 yrs. So, my take is to go with Bank of China, their rates are the best now.

I don't expect property market to crash anytime soon.
think about it, even our CPF funds are used to invest in properties for the passive income, do you think our govt wants the market to crash?

Some people are not aware how resilient our property market is. Newspaper might have reported that property prices fell for the 3rd month this year. Err... Actually, have you read the details? 1.x%, 0.x%, 0.x% dropped in last few months. Is there any course for alarm?

The days of speculators in property market have long gone, especially for the residential market. I would buy more properties now if I have the extra cash!

I agreed with your thinking. Govn will not allow the property price to crash. No way. I think govn objective is to stablise the property market. The rate of price increase is too fast. At the same time, interest rate will stay low for next 2 years. Option 1 is the best in my opinion.

[newbie11]

hi All,

my current loan package:
outstanding 550k
out of legal crawback (3yrs), no lock in
current interest rate: 1%+1mth sibor
with interest offset feature

reprice with same bank package(2yr lockin): 0.75+1mth sibor for first 3 yrs, then 1+1mth sibor; no interest offset feature

should i switch to (1)BankOfChina(2yr lockin), 0.55+3mth sibor, then 0.65+3mth sibor?
or (2)take current bank reprice package(2yr lockin)
or (3)stick with current loan(no lock in liao)
or (4) sell away the house, dun waste time thinking

if (1) or (2), i plan to put $$(from current interest offset acct) into cimb bank 0.8%

thanks for your advices.

without knowing the hard numbers in savings/ oppty costs, it's difficult to analyse. Interest offset is not significant in today's low int environment. Perhaps you can consider a foreign FD.

[taggy]

without knowing the hard numbers in savings/ oppty costs, it's difficult to analyse. Interest offset is not significant in today's low int environment. Perhaps you can consider a foreign FD.

saving 150k.

i m not serious about option4 la, bec maybe i want to sell also nobody want to buy right

the point to decide is just lockin or not lockin...

[deetee]

saving 150k.

i m not serious about option4 la, bec maybe i want to sell also nobody want to buy right

the point to decide is just lockin or not lockin...

can also consider DBS' SIBOR with interest capped package.

such package may not be of lowest rate now, but the interest capped at 1.48% protects you from unexpected hikes