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Thread: Mortgage war breaks out as DBS and UOB offer new rates

  1. #1
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    Default Mortgage war breaks out as DBS and UOB offer new rates

    March 8, 2008

    [SIZE="5"][B]Mortgage war breaks out as DBS and UOB offer new rates[/B][/SIZE]

    [B]Banks focusing on specific targets, waging battles without fanfare[/B]

    By Grace Ng, Finance Correspondent


    THE mortgage war finally erupted, as Singapore banks responded to a dramatic rate cut by Maybank three weeks ago - with one even offering a zero per cent package.

    That attractive deal comes from United Overseas Bank (UOB), which has relaunched a package with a teaser first-year rate at rock-bottom.

    DBS Group Holdings has also rolled out new rates on several packages, including a fixed-rate deal that claims to be the lowest of its type here in Singapore.

    Unlike the fanfare that marked the rate war in 2003, though, the battle now is focused on specific targets and is being kept under the radar.

    Banks are quietly offering promotional rates on a case-by-case basis and tend to target clients with loans of well over $300,000. While the market for new mortgages has softened, banks are still busy.

    'A lot of customers are looking to refinance their loans taken less than a year ago, when interest rates were much higher,' Mr Bryan Ong of mortgage consultancy bcgroup.com.sg said.

    Maybank sparked the war with an aggressive three-year, fixed-rate package at 1.68 per cent for the first year. This promo, which ends on Monday, has sent customers 'rushing to submit loan applications', said Maybank consumer banking head Helen Neo.

    About 80 per cent of the applications were for buying private properties with an average loan size of about $675,000. Maybank is now 'reviewing the rates'.

    Other banks have not taken the move lying down. Most have tacitly matched - or undercut - Maybank's rates.

    DBS has a new three-year, fixed-rate package with an aggregate rate of 7.64 per cent - lower than Maybank's 7.74 per cent. It offers a 1 per cent cash rebate in the first year.

    UOB has revived its FirstZero Home Loan - a three-year, fixed-rate package available 'only for a limited period'. The bank launched this in 2003, but it was quietly taken off the market last year amid interest rate volatility.

    FirstZero is now back with a zero per cent rate on the first year, 3.6 per cent on the second and 4.5 per cent on the third, making a three-year aggregate rate of 8.1 per cent.

    It has hefty penalty charges and a three-year lock-in period.

    Standard Chartered Bank (Stanchart) actually moved before Maybank, cutting its three-year, fixed-rate package from 3.58 per cent to 2.98 per cent in January. It also cut its two-year package by 0.55 of a percentage point to 2.88 per cent.

    DBS countered this week with a 2.88 per cent average annual rate for a three-year package and a 1 per cent cash rebate on the first year.

    This three-week promotion is only for customers with loan quantums of at least $300,000.

    OCBC Bank had not joined the fray, with chief executive David Conner saying last month that a mortgage rate war was unlikely.

    OCBC said 'from time to time, it offers loan packages with promotional rates that are highly competitive compared to other players'.

    The most popular packages now are those linked to transparent rates, like the Singapore Interbank Offered Rate (Sibor) or swap offered rate (SOR), comprising the Sibor plus a bank's lending costs.

    These are official, regularly published industry rates customers can check to see how their packages are structured.

    Riding on this interest, DBS has just cut by half its rate for its 12-month, two-year, Sibor-linked loans to 0.5 per cent for the first year.

    Nearly 80 per cent of Stanchart's new customers in recent months have taken up its package offering SOR plus 0.5 per cent for the first year.

    The SOR has dropped from about 3 per cent last year to about 1.5 per cent currently.

    Stanchart's head of consumer banking, Mr Ajay Kanwal, said: 'With the interest rate environment expected to soften further, customers of SOR-linked packages will benefit even more.'

    [email][email protected][/email]

  2. #2
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    Default Re: Mortgage war breaks out as DBS and UOB offer new rates

    March 17, 2008

    [SIZE="5"][B]What goes up stays up, what goes down also stays up[/B][/SIZE]


    I REFER to the news report, 'Mortgage war breaks out as DBS and UOB offer new rates' (March 8). It said that a mortgage loan war has broken out partially due to competition and also lower Sibor and SOR (3 per cent to 1.5 per cent) since 2007. However, the banks are not being fair to their existing customers as mortgage loan rates are not lowered for their existing customers.

    In 2006, the interest rate of my HDB mortgage loan with UOB was raised three times from 2.6 per cent to 4.1 per cent. Inevitably, the reason given for the increase was the increase in interbank market interest rates. As I noticed that the interbank market interest rate had fallen steadily since last year, I wrote to UOB to request a revision in my mortgage loan rate. However, I was told that the bank was monitoring the situation and that no revision would be made to my loan. Instead, I was offered a new package that required me to pay a conversion fee of $500 and have my loan locked with the bank for a longer period of time.

    When interbank market interest rates go up, banks revise our mortgage loan rate upwards almost immediately. However, when interbank market interest rates go down, no revision is made at all. Is this fair?

    Yeo Heng Ngi

  3. #3
    Unregistered
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    Default Re: Mortgage war breaks out as DBS and UOB offer new rates

    That's right. Some banks like xxx give attractive terms just to get new customers, after that the customers become captives to ridiculous redemption penalties, the customer service is no longer there and double standards exist. Even if I have to get out at a higher cost, I will and rather give other banks a chance because a mortgage loan is such a long term relationship and I certainly don't want to be a financial slave to xxx for the next 30 years.

  4. #4
    Unregistered
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    Default Re: Mortgage war breaks out as DBS and UOB offer new rates

    what is the best mortgage package for 550000 loan amount(30 yrs) - this will be 90% of purchase value of property

    DBS offering first year 4.10 and sibor+1.75% for remaining period ? I don't think this is best

    thanks

  5. #5
    Unregistered
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    Default Re: Mortgage war breaks out as DBS and UOB offer new rates

    Quote Originally Posted by Unregistered
    what is the best mortgage package for 550000 loan amount(30 yrs) - this will be 90% of purchase value of property

    DBS offering first year 4.10 and sibor+1.75% for remaining period ? I don't think this is best

    thanks
    Look for postings from mr Edward Lim

  6. #6
    Unregistered
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    Thumbs up Re: Mortgage war breaks out as DBS and UOB offer new rates

    Hi All,

    I am a mortgage consultant that has been accredited by the Mortgage Finance Association of Singapore (MFAS). I do not charge my clients any fees because the banks pay me a referral fees. I believe that I add more value than most of the property agents because I have a larger panel of banks than they do, and I do comparative analysis for my clients instead of just asking the individual bankers to call them. If you are very busy with work and spending time with family, do you want to deal with 10 bankers from different banks?

    I have access to rates that are unpublished on the banks' websites. Can you imagine how much time you can save by using my free service?

    I welcome people to ask me for advice even if they do not get the loan from me. My aim is to build up my client base through recommendations.

    Below are the attractive packages of Banks A, B, C, D, E and F. All three big local banks are included below. There are packages suitable for people currently within or without lock-in.

    [u][b]BANK A[/b][/u]
    12 Month SIBOR is currently 1.578% as at March 3.

    [u][b][color=red]Targeted towards New Purchase (Completed Properties) and Refinancing for people Currently WITHOUT lock in penalty[/color][/b][/u]. Lock-in for this package is 2 years but there will be 2 free interest-rate conversions within 24 months. No penalty for partial repayment. 1.5% penalty for full redemption during lock-in period.

    For Private Property only. Minimum $100K, but legal subsidy only for loan >$200K.

    Year 1: March 1st Business Day 12 Month SIBOR + 0.5%
    Year 2: 2nd Year 12 Month SIBOR + 0.75%
    Year 3: 3rd Year 12 Month SIBOR + 1%
    Thereafter: The year’s prevailing 12 Month SIBOR + 1%

    [u][b][color=red]Targeted towards Refinancing for people Currently WITH lock in penalty, the bank will offer a penalty subsidy of up to 1%[/color][/b][/u]. This is used to pay the lock in penalty to your current bank. If your lock in penalty is 1.5%, the rest you have to fork out. 1% Penalty subsidy subjected to 3 years clawback pro-rated on a monthly basis. Lock-in for this package is 2 years but there will be 2 free interest-rate conversions within 24 months. No penalty for partial repayment. 1.5% penalty for full redemption during lock-in period.

    For Private Property only. Minimum $100K, but legal subsidy only for loan >$200K.

    Year 1: March 1st Business Day 12 Month SIBOR + 0.5%
    Year 2: 2nd Year 12 Month SIBOR + 1%
    Year 3: 3rd Year 12 Month SIBOR + 1.25%
    Thereafter: The year’s prevailing 12 Month SIBOR + 1%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT lock in penalty, 3 years fixed interest rate with no clawback 1% cash rebate for the 1st year[/color][/b][/u]. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private Property only. Minimum $100K, but legal subsidy only for loan >$200K.

    Year 1: 2.88% (Fixed)
    Year 2: 2.88% (Fixed)
    Year 3: 2.88% (Fixed)
    Thereafter: SIBOR + 1%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT lock in penalty, 3 years fixed interest rate with no clawback 1% cash rebate for the 1st year[/color][/b][/u]. For HDB only. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For HDB only. Minimum $100K.

    Year 1: 2.88% (Fixed)
    Year 2: 2.88% (Fixed)
    Year 3: 2.88% (Fixed)
    Thereafter: CHR (CPF Housing Rate) + 1.58%

    [u][b]Bank B[/b][/u]

    [u][b][color=red]New Purchase or Refinancing[/color][/b][/u]. 3 years Fixed Rate Package. Full Redemption Penalty: 1% during lock-in. Lock-in for this package is 3 years.

    For Private and HDB. Minimum $300K

    Year 1 = 1.68% (Fixed)
    Year 2 = 2.68% (Fixed)
    Year 3 = 3.38% (Fixed)
    Thereafter = 3.75% Floating

    This package has been extended to March 28.

    [u][b]Bank C[/b][/u]
    3 Month SOR has been hovering between 1.20% to 1.8% for the past 3 weeks.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty[/color][/b][/u]. No lock in for this package.

    For Private property only. Minimum $300K

    Year 1 = 3 Month SOR + 0.5%
    Year 2 = 3 Month SOR + 0.75%
    Year 3 = 3 Month SOR + 1%
    Thereafter = 3M SOR + 1%

    [u][b][color=red]Targeted towards Refinancing for people Currently WITH or WITHOUT Lock-in Penalty, 1.5% cash rebate will be given to you[/color][/b][/u]. If you are within lock-in, you can use this to pay for your penalty to existing bank. If without lock-in, you can use this cash as you like. No lock-in for this package but cash rebate subjected to clawback pro-rated on an annual basis over three years.

    For Private property only. Minimum $200K

    Year 1 = 3 Month SOR + 1%
    Year 2 = 3 Month SOR + 1.25%
    Year 3 = 3 Month SOR + 1.5%
    Thereafter = 3M SOR + 1%

    [u][b]Bank D[/b][/u]
    3 Month SIBOR is currently 1.5625% as at March 3.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty[/color][/b][/u]. No lock in for this package.

    Year 1 = 3 Month SIBOR + 0.7%
    Year 2 = 3 Month SIBOR + 0.7%
    Year 3 = 3 Month SIBOR + 0.7%
    Thereafter = 3 Month SIBOR + 0.7%

    [u][b][color=red]Targeted towards Refinancing for people Currently With Lock-in Penalty, we can submit a request for the bank to provide a penalty subsidy[/color][/b][/u]. No lock in for this package but the penalty subsidy may be subjected to clawback to be decided by the bank on case by case basis.

    Year 1 = 3 Month SIBOR + 0.7% + Additional Markup (determined by bank)
    Year 2 = 3 Month SIBOR + 0.7% + Additional Markup (determined by bank)
    Year 3 = 3 Month SIBOR + 0.7% + Additional Markup (determined by bank)
    Thereafter = 3 Month SIBOR + 0.7%

    [u][b]Bank E[/b][/u]
    3 Month SOR is currently 1.3661% as at March 25.

    [u][b][color=red]Targeted towards New Purchase or Refinancing (Completed Properties only)[/color][/b][/u]. 3 years Fixed Rate Package. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1 - 24 mth : 2.75%, 25 - 36 mth : 1.5% during lock-in.

    For HDB and Private. Min HDB = $200K, Min Private = $400K

    Year 1 = 0% (Fixed)
    Year 2 = 3.6% (Fixed)
    Year 3 = 4.5% (Fixed)
    Thereafter = 3.75% (Floating)

    [u][b][color=red]Targeted towards Private Property New Purchase or Refinancing (Completed Properties with CSC only), 2 years Fixed Rate Package with no clawback 1.5% cash rebate[/color][/b][/u]. Lock-in for this package is 3 years. Partial and Full Redemption Penalty:
    within 12 mths - 2.5%, 13th mth-24th mth - 1.5%, 25th mth-36th mth - 1% during lock-in.

    For HDB and Private. Min HDB = $80K, Min Private = $200K

    Year 1 = 2.8% (Fixed)
    Year 2 = 2.8% (Fixed)
    Year 3 = 2.8% (Floating)
    Thereafter = 3.75% (Floating)

    [u][b][color=red]Targeted towards Private Property New Purchase or Refinancing (Completed Properties with CSC only)[/color][/b][/u]. One time free conversion to other packages within bank after 12 months from 1st loan disbursement. No lock in for this package.

    For Private property only. Minimum $200K

    Year 1 = 3, 6 or 12 Month SOR + 0.7%
    Year 2 = 3, 6 or 12 Month SOR + 0.7%
    Year 3 = 3, 6 or 12 Month SOR + 0.7%
    Thereafter = 3, 6 or 12 Month SOR + 0.7%

    [u][b][color=red]Targeted towards Private Property New Purchase or Refinancing (BUC Progressive or Deferred or TOP properties)[/color][/b][/u]. One time free conversion to other packages within bank after 12 months from 1st loan disbursement. No lock in for this package.

    For Private property only. Minimum $200K

    Year 1 = 3 SOR + 0.7%
    Year 2 = 3 SOR + 0.7%
    Year 3 = 3 SOR + 0.7%
    Thereafter = = 3 SOR + 0.7%

    [u][b]Bank F[/b][/u]
    3 Month SOR is currently 1.3661% as at March 25.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people with maximum 2 properties (TOP Properties)[/color][/b][/u]. 1 year Fixed Rate Package. Lock-in for this package is 2 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private Property Only. Min Private = $200K

    Year 1 = 2.3% (Fixed)
    Year 2 = 2.5%
    Year 3 = 2.5%
    Thereafter = 3.75% (Floating)

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people with maximum 2 properties (TOP Properties)[/color][/b][/u]. 2 years Fixed Rate Package. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private Property Only. Min Private = $200K

    Year 1 = 2.4% (Fixed)
    Year 2 = 2.4% (Fixed)
    Year 3 = 2.5%
    Thereafter = 3.75% (Floating)

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people with maximum 2 properties (TOP Properties)[/color][/b][/u]. 3 years Fixed Rate Package. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private Property Only. Min Private = $200K

    Year 1 = 2.75% (Fixed)
    Year 2 = 2.75% (Fixed)
    Year 3 = 2.75% (Fixed)
    Thereafter = 3.75% (Floating)

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people with maximum 2 properties (TOP Properties)[/color][/b][/u]. Lock-in for this package is 1 year. Partial redemption allowed but outstanding loan after partial redemption must be at least 50%, otherwise 1.5% penalty. Full Redemption Penalty: 1.5% during lock-in.

    For Private Property Only. Min Private = $200K

    Year 1 = 3 Month SOR + 0.65%
    Year 2 = 3 Month SOR + 0.75%
    Year 3 = 3 Month SOR + 1.25%
    Thereafter = 3M SOR + 1.25%

    I offer packages from up to 10 banks, and after finding out your requirements, I will then recommend something suitable for you.

    I will update this thread with new attractive packages when available.

    Feel free to call me at [u][b]91872681, Edward Sim[/b][/u].

  7. #7
    Edward Sim
    Guest

    Default Re: Mortgage war breaks out as DBS and UOB offer new rates

    [u][b][color=red] Please refer to updated packages below[/color][/b][/u].

    Hi All,

    I am a mortgage consultant that has been accredited by the Mortgage Finance Association of Singapore (MFAS). I do not charge my clients any fees because the banks pay me a referral fees. I believe that I add more value than most of the property agents because I have a larger panel of banks than they do, and I do comparative analysis for my clients instead of just asking the individual bankers to call them. If you are very busy with work and spending time with family, do you want to deal with 10 bankers from different banks?

    I have access to rates that are unpublished on the banks' websites. Can you imagine how much time you can save by using my free service?

    Below are the attractive packages of Banks A, B, D, E and F for 80% financing. All three big local banks are included below. There are packages suitable for people currently within or without lock-in.

    [u][b]BANK A[/b][/u]
    12M SIBOR is currently 1.625% as at May 2.

    [u][b][color=red]Targeted towards New Purchase, Refinancing for people Currently With Lock In Penalty (TOP Properties), the bank will offer a penalty subsidy of up to 0.5% [/color][/b][/u]. 0.5% Penalty subsidy subjected to 3 years clawback pro-rated on a monthly basis. Lock-in for this package is 2 years but there will be 2 free interest-rate conversions within 24 months. No penalty for partial repayment. 1.5% penalty for full redemption during lock-in period.

    For Private only. Min $100K, but legal subsidy only for loan >$200K.

    Year 1: May 1st Business Day 12M SIBOR + 0.5%
    Year 2: 2nd Year 12M SIBOR + 0.75%
    Year 3: 3rd Year 12M SIBOR + 1%
    Thereafter: The year’s prevailing 12M SIBOR + 1%

    [u][b][color=red]Targeted towards Refinancing for people Currently With Lock In Penalty (TOP Properties), the bank will offer a penalty subsidy of up to 1%[/color][/b][/u]. 1% Penalty subsidy subjected to 3 years clawback pro-rated on a monthly basis. Lock-in for this package is 2 years but there will be 2 free interest-rate conversions within 24 months. No penalty for partial repayment. 1.5% penalty for full redemption during lock-in period.

    For Private only. Min $100K, but legal subsidy only for loan >$200K.

    Year 1: May 1st Business Day 12M SIBOR + 0.5%
    Year 2: 2nd Year 12M SIBOR + 1%
    Year 3: 3rd Year 12M SIBOR + 1.25%
    Thereafter: The year’s prevailing 12M SIBOR + 1%

    [u][b][color=red] Targeted towards Refinancing for people Currently With Lock In Penalty (TOP Properties), the bank will offer a penalty subsidy of up to 1.5%[/color][/b][/u]. 1.5% Penalty subsidy subjected to 3 years clawback pro-rated on a monthly basis. Lock-in for this package is 2 years but there will be 2 free interest-rate conversions within 24 months. No penalty for partial repayment. 1.5% penalty for full redemption during lock-in period.

    For Private only. Min $100K, but legal subsidy only for loan >$200K.

    Year 1: May 1st Business Day 12M SIBOR + 0.5%
    Year 2: 2nd Year 12M SIBOR + 1.25%
    Year 3: 3rd Year 12M SIBOR + 1.5%
    Thereafter: The year’s prevailing 12M SIBOR + 1%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT lock in penalty (TOP Properties), 3 years fixed interest rate with no clawback 0.75% cash rebate[/color][/b][/u]. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private only. Min $100K, but legal subsidy only for loan >$200K.

    Year 1, 2 and 3 = 2.98% (Fixed)
    Thereafter: 12M SIBOR + 1%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT lock in penalty (TOP Properties), 3 years fixed interest rate with no clawback 0.75% cash rebate [/color][/b][/u]. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private and HDB. For HDB: Min $100K. For Private: Min $100K, but legal subsidy only for loan >$200K.

    Year 1, 2 and 3 = 2.98% (Fixed)
    Thereafter: CHR (CPF Housing Rate) + 1.58%

    [u][b][color=red]Targeted towards New Purchase: 1st time buyer of HDB or Private, where at least one of the owner is a 1st time buyer, or 1st time upgraders from HDB to Private, for owner-occupied purpose. (Available to both BUC and Completed Properties). There is a 7 days return policy 3 years fixed interest rate with no clawback 0.75% cash rebate[/color][/b][/u]. Lock-in for this package is 3 years. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private and HDB. For HDB: Min $100K. For Private: Min $100K, but legal subsidy only for loan >$200K.

    Year 1, 2 and 3 = 2.98% (Fixed)
    Thereafter: CHR (CPF Housing Rate) + 1.58%

    [u][b]Bank C[/b][/u]
    3 Month SIBOR is currently 1.275% as at May 22.
    12 Month SIBOR is currently 1.61875% as at May 22.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. No lock in for this package. 1 time free conversion to other packages within the bank. The markup of 1% is negotiable subject to approval, usually to 0.7%.

    For Private and HDB. Min $100K

    Year 1 = 3 or 12 Month SIBOR + 1%
    Year 2 = 3 or 12 Month SIBOR + 1%
    Year 3 = 3 or 12 Month SIBOR + 1%
    Thereafter = 3 or 12 Month SIBOR + 1%

    [u][b][color=red]Targeted towards Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (TOP Properties), 1.5% cash rebate will be given to you[/color][/b][/u]. If you are within lock-in, you can use this to pay for your penalty to existing bank. If without lock-in, you can use this cash as you like. No lock-in for this package but cash rebate subjected to clawback pro-rated yearly over three years. 1 time free conversion to other packages within the bank. The markup of 1.5% is negotiable subject to approval, usually to 1.2%.

    For Private and HDB. Min $100K

    Year 1, 2 & 3 = 3 or 12 Month SIBOR + 1.5%
    Thereafter = 3 or 12 Month SIBOR + 1%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. ]. 2 years Fixed, 3 years Lock-in. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private and HDB. Min $100K

    Year 1 & 2 = 2.88% (Fixed)
    Thereafter = 3 Month SIBOR + 1%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. ]. 3 years Fixed, 3 years Lock-in. Partial and Full Redemption Penalty: 1.5% during lock-in.

    For Private and HDB. Min $100K

    Year 1, 2 and 3 = 2.98% (Fixed)
    Thereafter = 3 Month SIBOR + 1%

    [u][b][color=red]Promotional Package targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty for HDB (TOP Properties)[/color][/b][/u]. 2 years Fixed, 2 years Lock-in. Partial and Full Redemption Penalty: 1.5% during lock-in. Valid until May 30 only.

    For HDB only. Min $100K

    Year 1 & 2 = 2.7% (Fixed)
    Thereafter = 3 Month SIBOR + 1%

    [u][b]Bank D[/b][/u]
    3 Month SIBOR is currently 1.275% as at May 22.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (BUC and Completed Properties)[/color][/b][/u]. No lock in for this package.

    Year 1, 2, 3 and thereafter = 3M SIBOR + 0.7%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (CSC Properties only), 1% cash rebate on 1st loan disbursement will be given to you [/color][/b][/u]. If you are within lock-in, you can use this to pay for your penalty to existing bank. If without lock-in, you can use this cash as you like. No lock-in for this package but cash rebate subjected to clawback pro-rated monthly over 3 years.

    Year 1, 2, 3 and thereafter = 3M SIBOR + 1%

    [u][b]Bank E[/b][/u]
    3 Month SOR is currently 1.27344% as at May 22.

    All Bank E packages only valid for 3 weeks from May 16, on a first come first served basis.

    [u][b][color=red]Targeted towards Private Property New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (Completed and BUC Progressive Properties)[/color][/b][/u].

    [u][b]1 year Fixed, 2 years Lock-in. Partial and Full Redemption Penalty: 1.5% during lock-in. Min $200K[/b][/u]

    Year 1 = 2.5% (Fixed)
    Year 2 = 2.5% (Floating)
    Thereafter = 3.5% (Floating)

    [u][b]2 years Fixed, 3 years Lock-In. Partial and Full Redemption Penalty: 1.5% during lock-in. Min $200K[/b][/u]

    Year 1 & 2 = 2.8% (Fixed)
    Year 3 = 2.8% (Floating)
    Thereafter = 3.5% (Floating)

    [u][b]3 years Fixed, 3 years Lock-In. Partial and Full Redemption Penalty: 1.5% during lock-in. Min $200K[/b][/u]

    Year 1, 2 & 3 = 2.98% (Fixed)
    Thereafter = 3.58% (Floating)

    [u][b][color=red]Targeted towards Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (CSC Properties only), 1.5% cash rebate will be given to you[/color][/b][/u]. If you are within lock-in, you can use this to pay for your penalty to existing bank. If without lock-in, you can use this cash as you like. 1 time free conversion to other packages within the bank. No lock-in for this package but cash rebate subjected to clawback pro-rated as follows: Within 24 mths of first loan disbursement: 100%, 25 - 36 mths: 75%, 37 – 48 mths: 50%, 49 – 60 mths: 25%.

    For Private Only. Min $200K

    Year 1, 2, 3 & thereafter = 12M SIBOR + 0.85%

    [u][b][color=red]Targeted towards HDB New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (Completed and BUC Progressive Properties)[/color][/b][/u].

    [u][b]1 year Fixed, 2 years Lock-in. Partial and Full Redemption Penalty: 1.5% during lock-in. Min $80K[/b][/u]

    Year 1 = 2.5% (Fixed)
    Year 2 = 2.5% (Floating)
    Thereafter = 3.75% (Floating)

    [u][b]3 years Fixed, 3 years Lock-In. Partial and Full Redemption Penalty: 1.5% during lock-in. Min $80K[/b][/u]

    Year 1, 2 & 3 = 2.98% (Fixed)
    Thereafter = 3.75% (Floating)

    [u][b]Bank F[/b][/u]
    3 Month SOR is currently 1.27344% as at May 22.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people with maximum 2 properties (CSC Properties Only)[/color][/b][/u].
    [u][b]1 year Fixed, 2 years Lock-in. Partial and Full Redemption Penalty: 1.5% during lock-in. For Private Only. Min $200K[/b][/u]

    Year 1 = 2.5% (Fixed)
    Year 2 & 3 = 2.5% (Floating)
    Thereafter = 3.75% (Floating)

    [u][b]2 years Fixed, 3 years Lock-In. Partial and Full Redemption Penalty: 1.5% during lock-in. For Private Only. Min $200K[/b][/u]

    Year 1 & 2 = 2.8% (Fixed)
    Year 3 = 2.8% (Floating)
    Thereafter = 3.75% (Floating)

    [u][b]3 years Fixed, 3 years Lock-In. Partial and Full Redemption Penalty: 1.5% during lock-in. For Private Only. Min $200K[/b][/u]

    Year 1, 2 & 3 = 2.98% (Fixed)
    Thereafter = 3.75% (Floating)

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people with maximum 2 properties (TOP Properties)[/color][/b][/u]. Lock-in for this package is 1 year. Partial redemption allowed but outstanding loan after partial redemption must be at least 50%, otherwise 1.5% penalty. Full Redemption Penalty: 1.5% during lock-in.

    For Private Property Only. Min Private = $200K

    Year 1 = 3 Month SOR + 0.65%
    Year 2 = 3 Month SOR + 0.75%
    Year 3 = 3 Month SOR + 1.25%
    Thereafter = 3M SOR + 1.25%

    Feel free to contact me, [u][b]Edward Sim @ 9187 2681[/b][/u] or [u][b][email protected][/b][/u] to find out more.

  8. #8
    Edward Sim
    Guest

    Default

    Hi All,

    Last call for Bank A's packages which are DBS. They are withdrawing packages after June 30, so as of today there is still 6 working days before the Letter of Offer has to be signed by latest, June 30.

    Till date, of the other few big local and foriegn banks, 2 have raised their 3 years fixed rate to 4.18% while another 2 have increased to 3.98%.

    So for people who have bought HDB or Private that are already TOP or nearing TOP in the next 3 months, you may still apply for DBS Fixed 3 years @ 2.98% with 0.75% cash rebate.

    As for those who are currently not with POSB/DBS, whether you are still within lock in or already out of lock in, you may apply for DBS Fixed 3 years @ 2.98% with 0.75% cash rebate.

    For those who have bought BUC properties that are either Deferred Payment or Progressive Payment, you may like to apply for DBS package which is 12M SIBOR + 1% which has no lock in so there is so partial or full redemption penalty for disbursed loans, with only 0.75% cancellation charge for the undisbursed portion. As SIBOR is on the upwards trend with 1.92% as at June 19, if you sign the Letter of Offer in June, you can still enjoy the June 2 SIBOR rate of 1.687%, which brings your rate to 2.687% fixed for 12 months without any lock in penalty, except the cancellation charge of 0.75% for undisbursed portion.

    Since I have already publicised that Bank A is DBS, those who have read are welcome to approach them directly. But if you would like to use my service and let me earn some referral fees, and also for appreciation of me sharing all the information upfront, please contact me, Edward Sim @ 9187 2681 or [email][email protected][/email] to find out more. I do not charge customers for the service.

  9. #9
    Edward Sim
    Guest

    Default

    Recently Updated Packages

    Below are the attractive packages of Banks A, B, C, D, and G for 80% financing. There are packages suitable for people currently within or without lock-in. If you would like to find out about 90% financing, kindly give me a call.

    [u][b]BANK A[/b][/u]
    3M SIBOR is currently 1.187 as at Sep 1.
    12M SIBOR is currently 1.75 as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase and Refinance (BUC & Completed Properties)[/color][/b][/u]. No penalty on partial and full redemption for disbursed loan, and 0.75% cancellation penalty on un-disbursed loan. One time free conversion to other packages within 6 months after TOP (For BUC new purchase only. Not applicable to refinancing for BUC properties with penalty subsidy). 1% or 1.5% Penalty subsidy packages subjected to 3 years clawback pro-rated on a monthly basis also available below.

    For Private only. Min $100K, but legal subsidy only for loan >$200K.

    [u]For 0.5% and without Penalty Subsidy Packages[/u]
    3M SIBOR + 0.7% throughout

    [u]For 1% Penalty Subsidy Package[/u]
    Year 1 = 3 Month SIBOR + 0.7%
    Year 2 & 3 = 3 Month SIBOR + 0.95%
    Thereafter = 3 Month SIBOR + 0.7%

    [u]For 1.5% Penalty Subsidy Package[/u]
    Year 1 = 3 Month SIBOR + 0.7%
    Year 2 & 3 = 3 Month SIBOR + 1.2%
    Thereafter = 3 Month SIBOR + 0.7%

    [u][b][color=red] Deal or No Deal Refinancing Package (Completed Properties)[/color][/b][/u]. No penalty on partial redemption for disbursed loan, and 1.5% cancellation penalty on un-disbursed loan. Full redemption penalty of 1.5% within 2 years.
    You can have any combination for year 1 and 2, as long as the total markup for 2 years is 1%. See below for example. 0.5%, 1% or 1.5% Penalty subsidy packages subjected to 3 years clawback pro-rated on a monthly basis also available below.

    For Private only. Min $500K.

    Year 1 = 3 or 12M SIBOR
    Year 2 = 3 or 12 Month SIBOR + 1%
    Thereafter = 3 or 12 Month SIBOR + 0.7%

    OR

    Year 1 = 3 or 12M SIBOR + 0.5%
    Year 2 = 3 or 12 Month SIBOR + 0.5%
    Thereafter = 3 or 12 Month SIBOR + 0.7%

    [u]For 0.5% Penalty Subsidy Package[/u]
    Add 0.25% to year 1 rate

    [u]For 1% Penalty Subsidy Package[/u]
    Add 0.25% to year 1 and year 2 rate

    [u]For 1.5% Penalty Subsidy Package[/u]
    Add 0.25% in Year 1 and 2 and 0.50% in Year 3

    Perpetual Interest Servicing Package for New Purchase and Refinancing (BUC & Completed Properties)[/color][/b][/u]. No penalty on partial or full redemption for disbursed loan, and 1.5% cancellation penalty on un-disbursed loan.

    For Private only. Min $500K.

    3 or 12M SIBOR + 1.5% throughout

    [u][b]Bank B[/b][/u]
    3 Month SOR (Indicative purpose only) is currently 1.2276% as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase (BUC & Completed Properties) [/color][/b][/u]. No penalty on partial and full redemption for disbursed loan, and 0.75% (BUC) and 1.5% (Completed) cancellation penalty on un-disbursed loan.

    For Private only. Min $200K.

    3M SOR + 0.7% throughout

    [u][b]Bank C[/b][/u]
    3 Month SIBOR (Indicative purpose only) is currently 1.1875% as at Sep 1.
    12 Month SIBOR (Indicative purpose only) is currently 1.75% as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. No penalty on partial and full redemption for disbursed loan. 1 time free conversion to other packages.

    For Private and HDB. Min $100K

    Year 1, 2 and 3 = 3 or 12 Month SIBOR + 0.8%
    Thereafter = 3 or 12 Month SIBOR + 0.95%


    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. Fixed 2 years and lock in 2 years.

    For Private and HDB. Min $100K

    Year 1 & 2 = 3.25% Fixed
    Thereafter = 3M SIBOR + 0.95%

    [u][b]Bank D[/b][/u]
    3 Month SIBOR (Indicative purpose only) is currently 1.1875% as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (BUC and Properties)[/color][/b][/u]. No lock in for this package.

    For Private and HDB. Min Private = $200K and Min HDB $100K.

    Year 1, 2, 3 and thereafter = 3M SIBOR + 0.7%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (Completed Properties)[/color][/b][/u]. No lock in for this package.

    Year 1 = 3 Month SIBOR + 0.75%
    Year 2 = 3 Month SIBOR + 0.65%
    Thereafter = 3 Month SIBOR + 0.55%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (Completed Properties), 1% cash rebate on 1st loan disbursement will be given to you [/color][/b][/u]. No lock-in for this package but cash rebate subjected to clawback pro-rated monthly over 3 years.

    For Private only. Min $200K.

    Year 1, 2, 3 and thereafter = 3M SIBOR + 1%

    [u][b]Bank G[/b][/u]
    3M Cost of Funds (Indicative purpose only) is currently 1.47% at as at Sep 2.

    [u][b][color=red]Targeted towards New Purchase or Refinancing without using CPF, you can choose Principal and Interest scheme or just Interest-only scheme during your loan tenure[/color][/b][/u]. Suitable for customers who prefer interest-only loan at affordable interest rates. No Lock in for this package and free to do partial or full redemption with just 2 weeks notice.

    For Private Only. Min US$150K or its S$ equivalent

    Year 1, 2, 3 & thereafter = 3M Cost of Funds + 1%

    Feel free to contact me, [u][b]Edward Sim @ 9187 2681[/b][/u] or [u][b][email protected][/b][/u] find out more. In addition, if you need financing for other countries (Australia, New Zealand, US, Canada, UK, Spain, France, Portugal, Dubai, Hong Kong) with Singapore's interest rate, you may also look for me.

  10. #10
    Edward Sim
    Guest

    Default Recently Updated Packages as at Sep 5. Take a close look at Bank A, B and E's package

    Recently Updated Packages as at Sep 5. Take a close look at Bank A, B and E's packages.

    Below are the attractive packages of Banks A, B, C, D, E and G for 80% financing. There are packages suitable for people currently within or without lock-in. If you would like to find out about 90% financing, kindly give me a call.

    [u][b]BANK A[/b][/u]
    3M SIBOR is currently 1.187 as at Sep 1.
    12M SIBOR is currently 1.75 as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase and Refinance (BUC & Completed Properties) for customers Currently with or without Lock-In[/color][/b][/u]. No penalty on partial and full redemption for disbursed loan, and 0.75% cancellation penalty on un-disbursed loan. One time free conversion to other packages within 6 months after TOP (For BUC new purchase only. Not applicable to refinancing for BUC properties with penalty subsidy). 1% or 1.5% Penalty subsidy packages subjected to 3 years clawback pro-rated on a monthly basis also available below.

    For Private only. Min $100K, but legal subsidy only for loan >$200K.

    [u]For 0.5% and without Penalty Subsidy Packages[/u]
    3M SIBOR + 0.7% throughout

    [u]For 1% Penalty Subsidy Package[/u]
    Year 1 = 3 Month SIBOR + 0.7%
    Year 2 & 3 = 3 Month SIBOR + 0.95%
    Thereafter = 3 Month SIBOR + 0.7%

    [u]For 1.5% Penalty Subsidy Package[/u]
    Year 1 = 3 Month SIBOR + 0.7%
    Year 2 & 3 = 3 Month SIBOR + 1.2%
    Thereafter = 3 Month SIBOR + 0.7%

    [u][b][color=red] Deal or No Deal Refinancing Package (Completed Properties) for customers Currently with or without Lock-In [/color][/b][/u]. No penalty on partial redemption for disbursed loan, and 1.5% cancellation penalty on un-disbursed loan. Full redemption penalty of 1.5% within 2 years.
    You can have any combination for year 1 and 2, as long as the total markup for 2 years is 1%. See below for example. 0.5%, 1% or 1.5% Penalty subsidy packages subjected to 3 years clawback pro-rated on a monthly basis also available below.

    For Private only. Min $500K.

    Year 1 = 3 or 12M SIBOR
    Year 2 = 3 or 12 Month SIBOR + 1%
    Thereafter = 3 or 12 Month SIBOR + 0.7%

    OR

    Year 1 = 3 or 12M SIBOR + 0.5%
    Year 2 = 3 or 12 Month SIBOR + 0.5%
    Thereafter = 3 or 12 Month SIBOR + 0.7%

    [u]For 0.5% Penalty Subsidy Package[/u]
    Add 0.25% to year 1 rate

    [u]For 1% Penalty Subsidy Package[/u]
    Add 0.25% to year 1 and year 2 rate

    [u]For 1.5% Penalty Subsidy Package[/u]
    Add 0.25% in Year 1 and 2 and 0.50% in Year 3

    Perpetual Interest Servicing Package for New Purchase and Refinancing (BUC & Completed Properties)[/color][/b][/u]. No penalty on partial or full redemption for disbursed loan, and 1.5% cancellation penalty on un-disbursed loan.

    For Private only. Min $500K.

    3 or 12M SIBOR + 1.5% throughout

    [u][b]Bank B[/b][/u]
    3 Month SOR (Indicative purpose only) is currently 1.2276% as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase (BUC & Completed Properties) [/color][/b][/u]. No penalty on partial and full redemption for disbursed loan, and 0.75% (BUC) and 1.5% (Completed) cancellation penalty on un-disbursed loan.

    For Private only. Min $200K.

    3M, 6M or 12M SOR + 0.7% throughout

    [u][b][color=red]Targeted towards New Purchase or refinancing (Completed Properties with CSC obtained) with 1.5% Cash Rebate subjected to 100% clawback within 3 years[/color][/b][/u]. Legal subsidy is 0.4% of loan amount capped at $2.5K. No penalty on partial and full redemption for disbursed loan.

    For Private only. Min HL $200K. TL $100K.

    Year 1 = 3M SOR + 0.5%
    Year 2 = 3M SOR + 0.75%
    Thereafter = 3M SOR + 1%

    [u][b]Bank C[/b][/u]
    3 Month SIBOR (Indicative purpose only) is currently 1.1875% as at Sep 1.
    12 Month SIBOR (Indicative purpose only) is currently 1.75% as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. No penalty on partial and full redemption for disbursed loan. 1 time free conversion to other packages.

    For Private and HDB. Min $100K

    Year 1, 2 and 3 = 3 or 12 Month SIBOR + 0.8%
    Thereafter = 3 or 12 Month SIBOR + 0.95%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (TOP Properties)[/color][/b][/u]. Fixed 2 years and lock in 2 years.

    For Private and HDB. Min $100K

    Year 1 & 2 = 3.25% Fixed
    Thereafter = 3M SIBOR + 0.95%

    [u][b]Bank D[/b][/u]
    3 Month SIBOR (Indicative purpose only) is currently 1.1875% as at Sep 1.

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITHOUT Lock-in Penalty (BUC and Properties)[/color][/b][/u]. No lock in for this package.

    For Private and HDB. Min Private = $200K and Min HDB $100K.

    Year 1, 2, 3 and thereafter = 3M SIBOR + 0.7%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (Completed Properties)[/color][/b][/u]. No lock in for this package.

    Year 1 = 3 Month SIBOR + 0.75%
    Year 2 = 3 Month SIBOR + 0.65%
    Thereafter = 3 Month SIBOR + 0.55%

    [u][b][color=red]Targeted towards New Purchase or Refinancing for people Currently WITH or WITHOUT Lock-in Penalty (Completed Properties), 1% cash rebate on 1st loan disbursement will be given to you [/color][/b][/u]. No lock-in for this package but cash rebate subjected to clawback pro-rated monthly over 3 years.

    For Private only. Min $200K.

    Year 1, 2, 3 and thereafter = 3M SIBOR + 1%

    [u][b]Bank E[/b][/u]

    [u][b][color=red]Targeted towards New Purchase or Refinancing[color][/b][/u]. 4 years Fixed Rate Package. Penalty is pro-rated: 1.5% penalty within year 1, 1% in year 2 and 0.75% in years 3 and 4. Allows partial redemption up to 20% of initial loan within the 4 years lock in period.

    For Private and HDB. Min $300K

    Year 1 = 2.28% (Fixed)
    Year 2 = 2.88% (Fixed)
    Year 3 = 3.38% (Fixed)
    Year 4 = 3.88% (Fixed)
    Thereafter = 3.75% (Floating)

    [u][b]Bank G[/b][/u]
    3M Cost of Funds (Indicative purpose only) is currently 1.47% at as at Sep 2.

    [u][b][color=red]Targeted towards New Purchase or Refinancing without using CPF, you can choose Principal and Interest scheme or just Interest-only scheme during your loan tenure[/color][/b][/u]. Suitable for customers who prefer interest-only loan at affordable interest rates. No Lock in for this package and free to do partial or full redemption with just 2 weeks notice.

    For Private Only. Min US$150K or its S$ equivalent

    Year 1, 2, 3 & thereafter = 3M Cost of Funds + 1%

    Feel free to contact me, [u][b]Edward Sim @ 9187 2681[/b][/u] or [u][b][email protected][/b][/u] find out more. In addition, if you need financing for other countries (Australia, New Zealand, US, Canada, UK, Spain, France, Portugal, Dubai, Hong Kong) with Singapore's interest rate, you may also look for me.

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