What would I do if I am yowetan?

[yowetan]

Yes I have a friend who lives there.

She says the family go down to the shower rooms in the swimming pool to shower and she has seen them bring their toothbrushes to brush teeth there too......You can save money like them if you get your condo there. But hope you don't have to fight with them to use the facilities during peak hours.

btw Ghim Moh market is good. Nice food there. Your parents, in-laws will like going to the market in the morning to shop and have breakfast.

I am surprise the MSCT is not doing anything to stop them. Interesting though.

Yes, I have had said Mt Sinai is a heavenly enclave for me, and my family; It is strategically position to meet our family's needs and expectations. My parents will definitely enjoy the hustling early crowd of Gim Moh market, and the cooked food there is reasonably price.

The surrounding neighbourhood Henry Park Primary is also good, and will be add-valued for my two children with close proximity and accessibility.

The whole Mt Sinai is quiet, serene and greenary; it will be a good pleasing ground for my parents, and a conducive environment for my growing children. What is more to expect when I can have almost all basic ammentities in the condominium premise; This is why I rule out Serria Park for I dun agree with apartment.

All in all, I like the place and find value in there and would love to be vested as a home owner/stayer for many years to come ahead of me, and my future generation.

[yowetan]

Bank staff family members can get free medical.

Yes. You must have known someone who works in bank then.

My company covers all medical expenses for my family members, including my parents though it is the basic medical care.

I am also buying extensive employee dependent scheme to cover them like a normal term insurance at an affordable monthly rate of under 25SGD.

[buttercarp]

Yes I have a friend who lives there.

She says the family go down to the shower rooms in the swimming pool to shower and she has seen them bring their toothbrushes to brush teeth there too......You can save money like them if you get your condo there. But hope you don't have to fight with them to use the facilities during peak hours.

btw Ghim Moh market is good. Nice food there. Your parents, in-laws will like going to the market in the morning to shop and have breakfast.

A few years ago some cheap skate families in my place also did the same thing by bathing in the toilet at the club house.
One family even transported pails of water from the common toilet!

So the MCST turn off the water heater to the bathroom and told the guard to keep a look out.
That solved the problem.

[chweegrace]

Hi yowetan, employee insurance are only temp cover cos when u change job or Retrench, you will lose the cover. The new company insurance may exclude any existing illness.

[buttercarp]

For now, you might think that it will be a big deal to be living in D10, but once you move in, i can assure you that within 3 months you will feel that it is not such a big deal after all.

I think you are right!
What's most important is the quality of life.
A HDB in a decent estate eg Tiong Bahru in yowetan's case has nice surroundings and conveniences.

[yowetan]

Hi yowetan, employee insurance are only temp cover cos when u change job or Retrench, you will lose the cover. The new company insurance may exclude any existing illness.

Hi. Thanks for the reminder. I am fully aware.

Our parents are covered and insured with basic medishield from government. I believe this will be the basic coverage and would be sufficient. As mentioned in my past postings, it is the government responsibility to look after the silver age group and it is our government job to ensure medical care and basics are kept to the fundamental and affordable to her people. In this case, I will leave to the government and I have had said I have never seen a public hospital or private hospital in Singapore refusing patients in need recieving treatment as of yet. Hence, my bet is to hand over the basic responsibility back to the government that taxes us.

[Poloclub]

Hi. Thanks for the reminder. I am fully aware.

Our parents are covered and insured with basic medishield from government. I believe this will be the basic coverage and would be sufficient. As mentioned in my past postings, it is the government responsibility to look after the silver age group and it is our government job to ensure medical care and basics are kept to the fundamental and affordable to her people. In this case, I will leave to the government and I have had said I have never seen a public hospital or private hospital in Singapore refusing patients in need recieving treatment as of yet. Hence, my bet is to hand over the basic responsibility back to the government that taxes us.

dont count on it. when they move from HDB into PC, they will no longer enjoy the same subsidies as being HDB dweller.

[yowetan]

dont count on it. when they move from HDB into PC, they will no longer enjoy the same subsidies as being HDB dweller.

I am unsure about this as they will still keep their HDB flat, with their IC bearing HDB address.

[Poloclub]

I am unsure about this as they will still keep their HDB flat, with their IC bearing HDB address.

when they are no longer living there, it is a must for them to inform the authority of the new address.

[chweegrace]

The banking industry is also doing a lot of retrenchment this year. Cos if sales down , then they have to manage the cost. There are quite a number of ppl I know that are still doing contract jobs or no jobs when they are retrenched for this year. Some operation department in the bank are moveto chennai or other countries so whole department are gone and some sales team 50% retrenched.
In this kind of environment , having a 1 year emergency fund is more realistic. Please save as much as you can if you still want to proceed

[jwong71]

when they are no longer living there, it is a must for them to inform the authority of the new address.

if not mistaken, its chargeable not to update.

[yowetan]

The banking industry is also doing a lot of retrenchment this year. Cos if sales down , then they have to manage the cost. There are quite a number of ppl I know that are still doing contract jobs or no jobs when they are retrenched for this year. Some operation department in the bank are moveto chennai or other countries so whole department are gone and some sales team 50% retrenched.
In this kind of environment , having a 1 year emergency fund is more realistic. Please save as much as you can if you still want to proceed

Thanks for sharing the market movement.

Yes, my team has restructured early this month; we have stop contract staffs, and now moving with all perm staffs now.

Yes, we will watch our back. That is why my wife is looking for jobs now.

[yowetan]

The banking industry is also doing a lot of retrenchment this year. Cos if sales down , then they have to manage the cost. There are quite a number of ppl I know that are still doing contract jobs or no jobs when they are retrenched for this year. Some operation department in the bank are moveto chennai or other countries so whole department are gone and some sales team 50% retrenched.
In this kind of environment , having a 1 year emergency fund is more realistic. Please save as much as you can if you still want to proceed

Thanks for sharing the market movement.

Yes, my team has restructured early this month; we have stop contract staffs, and now moving with all perm staffs now.

Yes, we will watch our back. That is why my wife is looking for jobs now.

[dtrax]

Thanks for sharing the market movement.

Yes, my team has restructured early this month; we have stop contract staffs, and now moving with all perm staffs now.

Yes, we will watch our back. That is why my wife is looking for jobs now.

You wanna hoot better be quick, resale prices are gaining strength:
http://www.todayonline.com/Business/...hakes-off-ABSD

[Poloclub]

You wanna hoot better be quick, resale prices are gaining strength:
http://www.todayonline.com/Business/...hakes-off-ABSD

price is definitely rising in CCR, especially those property that is in the region of 1-1.5m. If near MRT, most are already gone by now.

So for Yowetan, the chance of getting a 900-1000psf Mount Senai property is getting slimmer. but there is nothing to despair. it is still a buyer market Just have to look for less popular location.

If you want good school PC. Can consider property around Nan Hua. Faber Crest is relatively cheap, if you dont mine LH. Good potential for plot ratio revision and near JLD.

[Laguna]

Yes, I have recieved IP approval from SCB (My friend works there as relationship manager).

Yes, with IP approval and my manager's approval my workplace is granting me 80-90% loan amount up to 1.5 mil SGD.

This is the greatest rubbish I come across.

For SCB, first staff housing loan is 90% with 0.4% above SIBOR, subject to debt servicing ratio.

Second housing loan is 60% LTV at market rate, subject to debt servicing ratio.

Ah Tan can get 80-90% on the following :
1. He thought first staff loan is the same as first housing loan. This is different, as the first housing loan may not be with the same bank.
2. The debt servicing ratio with his household income is out for $1.5m.

Next he said, he can buy PC even his flat is within MOP, someone asked how : He mentioned "secret" and this is another big rubbish.

There are many data share between IRAS and HDB. One is the matching of private property owners to the HDB dwelling unit owners to check on the MOP. And this just take 2 minute of the system time.

I nvr look down a person to this extent before.

I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him

[yowetan]

This is the greatest rubbish I come across.

For SCB, first staff housing loan is 90% with 0.4% above SIBOR, subject to debt servicing ratio.

Second housing loan is 60% LTV at market rate, subject to debt servicing ratio.

Ah Tan can get 80-90% on the following :
1. He thought first staff loan is the same as first housing loan. This is different, as the first housing loan may not be with the same bank.
2. The debt servicing ratio with his household income is out for $1.5m.

Next he said, he can buy PC even his flat is within MOP, someone asked how : He mentioned "secret" and this is another big rubbish.

There are many data share between IRAS and HDB. One is the matching of private property owners to the HDB dwelling unit owners to check on the MOP. And this just take 2 minute of the system time.

I nvr look down a person to this extent before.

I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him

First, my workplace is not SCB.

Second, debt servicing ratio has been calculated by my colleague in another department while I go through my bank's HR and managerial approval.

Third, with regards to HDB MOP and the opportunity to get a PC is none of your business since this is my purchase.

Thank you.

[Laguna]

First, my workplace is not SCB.

Second, debt servicing ratio has been calculated by my colleague in another department while I go through my bank's HR and managerial approval.

Third, with regards to HDB MOP and the opportunity to get a PC is none of your business since this is my purchase.

Thank you.

There is no bank in Sg will go against MAS/MND's ruling. The MAS inspection will kill them. There is no bank offer staff loan to non-employee. Day dreamer....

I supposed u did not make a true and full disclousure to whosoever.

I warns u dun play around with MOP, I know the enforcement by HDB very well. Ya, it is none of my business, but I just simply look down a person like u.

[land118]

This is the greatest rubbish I come across.

For SCB, first staff housing loan is 90% with 0.4% above SIBOR, subject to debt servicing ratio.

Second housing loan is 60% LTV at market rate, subject to debt servicing ratio.

Ah Tan can get 80-90% on the following :
1. He thought first staff loan is the same as first housing loan. This is different, as the first housing loan may not be with the same bank.
2. The debt servicing ratio with his household income is out for $1.5m.

Next he said, he can buy PC even his flat is within MOP, someone asked how : He mentioned "secret" and this is another big rubbish.

There are many data share between IRAS and HDB. One is the matching of private property owners to the HDB dwelling unit owners to check on the MOP. And this just take 2 minute of the system time.

I nvr look down a person to this extent before.

I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him

U are correct. There is MOP to be fulfilled. database certainly linked. It's either eligible or not within the rules, no such thing as "secret". If indeed secret, then very misleading and fishy..

URA website

http://www.ura.gov.sg/lad/HBG/basicC...tm#eligibility
"*
Basic Checks

Buying a new apartment, flat or house may probably be your single largest investment. Hence, before you even visit a showflat or view any unit, it is important that you familiarise yourself with some existing Government policies which may affect you."


HDB website

http://www.hdb.gov.sg/fi10/fi10322p....d?OpenDocument

[Laguna]

Hi. Thanks for the reminder. I am fully aware.

Our parents are covered and insured with basic medishield from government. I believe this will be the basic coverage and would be sufficient. As mentioned in my past postings, it is the government responsibility to look after the silver age group and it is our government job to ensure medical care and basics are kept to the fundamental and affordable to her people. In this case, I will leave to the government and I have had said I have never seen a public hospital or private hospital in Singapore refusing patients in need recieving treatment as of yet. Hence, my bet is to hand over the basic responsibility back to the government that taxes us.

u can experiement first to prove that ur wrong especially in the private hospital.
The hospital check first their addresses, next their household income.

There is no way u can get away unless u throw them away.

I am surprised that I could not maintain my cool on this guy.

[land118]

Sep 2011, Yowetan said he owned 2bedder bought for $700k

http://forums.condosingapore.com/sho...62&postcount=5


Feb 2012, Yowetan said he sold his unit for $800k+

http://forums.condosingapore.com/sho...9&postcount=42

Few days ago, Yowetan HDB flat is in Tiong Bahru..

http://forums.condosingapore.com/sho...37&postcount=3

[Estella83]

So wat does this joker wants?

[dtrax]

Sep 2011, Yowetan said he owned 2bedder bought for $700k

http://forums.condosingapore.com/sho...62&postcount=5


Feb 2012, Yowetan said he sold his unit for $800k+

http://forums.condosingapore.com/sho...9&postcount=42

Few days ago, Yowetan HDB flat is in Tiong Bahru..

http://forums.condosingapore.com/sho...37&postcount=3

Oh crap a crap.. so that means he has taken us for a ride?

[yowetan]

u can experiement first to prove that ur wrong especially in the private hospital.
The hospital check first their addresses, next their household income.

There is no way u can get away unless u throw them away.

I am surprised that I could not maintain my cool on this guy.

For your information, my dad was admitted hospital a year ago. The hospital just admitted and register him based on the address display on the IC.

He was warded to ward C, based on his past record then receiving treatment straight. Consellor came and consulted us on the cost and price after the treatment, and when my dad was about to discharge. As usual, based on his age with his retired status, the cost is not alot and covered fully by his medishield.

I am surprise I actually share with you on this incident; I dun think you should get so work up since you are never in my shoe.

[yowetan]

Oh crap a crap.. so that means he has taken us for a ride?

You ought to do your own research and search more thoroughly on my postings.

It is no mere coincidental that I am holding onto a 5 room HDB flat now.

Hence, please read and research dilligently if you like/want before you made the above deduction.

[stiook]

From all these postings, we can see that his mind is made up. We should just encourage him. If he made it, we should applaud his vision. It does not affect us one bit. If he fails, he pays the price which he is willing to. Our life goes on...

[House]

how real is real?

DEFINE REAL.

[danntbt]

I forgot to add, I suppose the rental income is being declared as his parent's income for income tax purpose to save his tax. So, this cannot be taken for his debt servcing ratio at all as the property does not belong to him

...not quite as his parents' address is still officially at their HDB flat, to ensure they get the full subsidy from government for hospitalization....meaning they have not reported that the whole HDB flat is being rented out.....otherwise the rental income would reduce the health subsidy?

...so actually officially the rental income is non-exixtence.....wonder how he can get this and the potential rental income from his HDB into the equation for his loan application......

..wonder what's cooking....

[dtrax]

You ought to do your own research and search more thoroughly on my postings.

It is no mere coincidental that I am holding onto a 5 room HDB flat now.

Hence, please read and research dilligently if you like/want before you made the above deduction.

Well perhaps you can clarify on this, I usually do not wish to dig other people's post n too much work liao. Imagine you are helping someone, then kenna taken for a ride, how would you feel. Maybe you can enlighten me on this, otherwise I will feel damn cheated

[buttercarp]

Yowetan, so many of the bros and sis here have given you the necessary advice so it is up to you whether you want to take the final plunge.

Just be aware of the limitations eg HDB MOP, hidden costs eg buyer's stamp duty, reno, etc and the ability to secure a loan which have been mentioned so far.


Laguna, please do not feel so much for him at the expense of your health.
Most of us here value your input so your health is important to us.