Changes to home loans

[evergreen]

http://www.stproperty.sg/articles-pr...-years/a/74687

I'll want to extend the term of my loan when I re-finance!

So DBS is doing something to retain their existing clients. Loan tenure can now be increased to 50years. Do they expect the next generation to pay for the mortgage?

Next generation already inherit the house, what's wrong with getting them to pay the rest of the mortgage after the buyer passes on? They can sell and cash out if they don't want to live in the house.

[DC33_2008]

Better to inherit a fully paid house.

http://www.stproperty.sg/articles-pr...-years/a/74687

I'll want to extend the term of my loan when I re-finance!



Next generation already inherit the house, what's wrong with getting them to pay the rest of the mortgage after the buyer passes on? They can sell and cash out if they don't want to live in the house.

[focus]

UOB can set 50 year mortgage.
so it looks like devilplate is wrong in his response to my question?
http://forums.condosingapore.com/sho...postcount=2585

yes carbuncle, my memory is like a dinosaur for useless stuff.

Wait.. if it's 50yrs loan.. Wow..
It's worth buying as big a house as possible.
50yrs ..even though u r paying your interest (might be equivalent to your house initial price), but the gain will definitely be more then what you pay in interest.

Imagine 1970s, Landed is $200k , 40yrs in 2010, it was $2mil.

So, if i 38yrs old, I can loan only 75-38= 37yrs.

Sheeze... Wasted...

But maybe can put under my niece's name.. she's 5yrs old.

[hopeful]

Wait.. if it's 50yrs loan.. Wow..
It's worth buying as big a house as possible.
50yrs ..even though u r paying your interest (might be equivalent to your house initial price), but the gain will definitely be more then what you pay in interest.

Imagine 1970s, Landed is $200k , 40yrs in 2010, it was $2mil.

So, if i 38yrs old, I can loan only 75-38= 37yrs.

Sheeze... Wasted...

But maybe can put under my niece's name.. she's 5yrs old.

sorry have to correct you. repeat of earlier post
http://www.uob.com.sg/personal/loans..._mortgage.html

• Q3. What is the maximum loan repayment period?
  • Freehold Property
    Up to 50 years or 80 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 50 years. The loan duration plus the age of the applicant must be less than or equal to 80 years.
  • Leasehold Property
    Up to 50 years or 80 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenor

[focus]

sorry have to correct you. repeat of earlier post
http://www.uob.com.sg/personal/loans..._mortgage.html

• Q3. What is the maximum loan repayment period?
  • Freehold Property
    Up to 50 years or 80 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 50 years. The loan duration plus the age of the applicant must be less than or equal to 80 years.
  • Leasehold Property
    Up to 50 years or 80 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenor

Lol.. ya.. so it's max 50yrs.
Must checked with UOB tomorrow.

[evergreen]

Better to inherit a fully paid house.

Of course lah If cannot then a 20% paid house is good oso wad.

[newbie11]

Latest additions, available from 30 July to 20 August 2012. Hurry!

DBS introduced new promotional home loans, in celebration of Singapore's 47th birthday! Now you can have a 5 year fixed home loan at 1.5% only. You can also choose the DBS 1+1 home loans with MPM or without MPM. 1+1 means year 1 is fixed interest rate and you have the option to fixed year 2 too. They also extend the 2+2 housing loan with MPM or without MPM during this period.

Read more

[Allthepies]

Any idea which bank currently offers a SIBOR spread of less than 0.75% for at least 3 years?

[Reisor]

Am currently serving last year of a 1.99% 3 yr fixed loan under DBS as well.
Does it make sense to switch to this 1.18% 1+1 NOW.
Do you think penalty fee still applies if switch within bank?
Appreciate your advice.

Latest additions, available from 30 July to 20 August 2012. Hurry!

DBS introduced new promotional home loans, in celebration of Singapore's 47th birthday! Now you can have a 5 year fixed home loan at 1.5% only. You can also choose the DBS 1+1 home loans with MPM or without MPM. 1+1 means year 1 is fixed interest rate and you have the option to fixed year 2 too. They also extend the 2+2 housing loan with MPM or without MPM during this period.

Read more

[CondoWE]

Am currently serving last year of a 1.99% 3 yr fixed loan under DBS as well.
Does it make sense to switch to this 1.18% 1+1 NOW.
Do you think penalty fee still applies if switch within bank?
Appreciate your advice.

Yes. Bank will issue you a Penalty fee !

[ilgr]

Any idea which bank currently offers a SIBOR spread of less than 0.75% for at least 3 years?

Citibank offers what you're looking for.

[Allthepies]

Citibank offers what you're looking for.

Their rate is 0.68% only for first year, 2nd and 3rd is 0.78% and 0.88%

[newbie11]

depends on your loan quantum

[newbie11]

Don't wish to pay for legal clawback? New loans with REFINANCING SUBSIDY and Free Repricing for COMPLETED properties. And 3-year fixed rates just got lower.
Read more

[newbie11]

Introducing the home loans with refinancing subsidy that will pay for your legal clawback! It will pay up to 0.3% of loan amount, capped at $2,500 for Private and $1,000 for HDB.
More info

[newbie11]

Am currently serving last year of a 1.99% 3 yr fixed loan under DBS as well.
Does it make sense to switch to this 1.18% 1+1 NOW.
Do you think penalty fee still applies if switch within bank?
Appreciate your advice.

that means you are in 3rd yr lock in period and there's penalty.. u can still call them and ask. just a phone call away. maybe your quantum is huge enough to bargain?

[newbie11]

Latest from ANZ: They have increased the year 4 thereafter rates to 0.9%! No more flat margin of 0.7% or 0.8%. Click for a list of all ANZ mortgages.

[newbie11]

ANZ introduced their Fixed home loans for Completed Private and HDB properties. 2 year fixed housing loans for HDB are 1.4%, and it's applicable for Private too. If you have $150,000 under AUM, then you will enjoy 1.35% for 2 years.

[Allthepies]

ANZ introduced their Fixed home loans for Completed Private and HDB properties. 2 year fixed housing loans for HDB are 1.4%, and it's applicable for Private too. If you have $150,000 under AUM, then you will enjoy 1.35% for 2 years.

This rate looks yucky, DBS fixed rate 1.28% for 2 years. No need to put deposit.

A suggestion, u should provide value added service by just stating the bank with the best offer.

[newbie11]

Thanks for suggestion. This thread is to track the latest changes. Best loans are listed in http://www.findahomeloan.sg/best-home-loan

[Allthepies]

Thanks for suggestion. This thread is to track the latest changes. Best loans are listed in http://www.findahomeloan.sg/best-home-loan

Cool

[newbie11]

The latest news in the market is few banks have stopped giving home loan freebies! No more free legal subsidy, fire insurance!

[silver023]

The latest news in the market is few banks have stopped giving home loan freebies! No more free legal subsidy, fire insurance!

Aren't they desperately trying to increase market share for home loans? Are they converting the freebies into interest rate discounts instead?

[carbuncle]

low interest rates not sustainable. freebies eating into their margins. banker can still treat starbucks kopi though... no problem.

[Rosy]

low interest rates not sustainable. freebies eating into their margins. banker can still treat starbucks kopi though... no problem.

To be exact, it should be the low interest spread which is not sustainable.

less than 1% spread is unheard of in other countries.

If you have loan which is sibor + (less than 0.8%) throughout, can continue to stick to it

[newbie11]

following MAS guideline

[taggy]

following MAS guideline

look like garmen implementing all ways to discourage prop buying

[CondoWE]

To be exact, it should be the low interest spread which is not sustainable.

less than 1% spread is unheard of in other countries.

If you have loan which is sibor + (less than 0.8%) throughout, can continue to stick to it

My Sibor+0.75... !

[dtrax]

My Sibor+0.75... !

mine 0.7%! Just got letter, currently at 1.07% interest rate

[taggy]

mine 0.7%! Just got letter, currently at 1.07% interest rate

Mine is 0.55 spread yr1, 0.65 spread thru out, currently at 0.93%