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Thread: Increased of Interest Rate

  1. #1
    Join Date
    Aug 2016
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    59

    Default Increased of Interest Rate

    Hi all, would like to seek advice about the refinancing, thanks in advance.

    I received an letter from OCBC informing me that the 36-month S$ Time Deposit Rate will be increased from 0.65% (1.65%) to 0.95% (1.95%) on 2 Aug 2018 for the mm condo I purchased in Oct-2016. And after calling the bank, they gave me the following option without any additional fee, so now should i do refinancing and if yes, which option to choose?
    Attached Images Attached Images

  2. #2
    Join Date
    May 2012
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    Find a mortgage specialist to source refinance opportunities from other banks.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  3. #3
    Join Date
    Oct 2012
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    1,163

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    If u plan for local bank i think dbs is the lowest interest rate. I got mine 2yrs fixed rate at 1.65%. Ocbc is the highest out of 3 local banks. If not get a mortgage specialist.

  4. #4
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    Aug 2016
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    May i know to engage a mortage specialist? And can i change bank?
    Last edited by leafe; 07-07-18 at 03:57. Reason: Add in info

  5. #5
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    May 2012
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    Quote Originally Posted by leafe View Post
    May i know to engage a mortage specialist? And can i change bank?
    I have had great experience with Redbricks. PM me if you need a specific number and person to contact.
    The three laws of Kelonguni:

    Where there is kelong, there is guni.
    No kelong no guni.
    More kelong = more guni.

  6. #6
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  7. #7
    Join Date
    Oct 2012
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    Default

    Hi Bro Arcachon

    Have been checking around for repricing and term loan but it seems bankers like not very interested.. maybe many people out there looking for loans now?

  8. #8
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    Quote Originally Posted by Werther View Post
    Hi Bro Arcachon

    Have been checking around for repricing and term loan but it seems bankers like not very interested.. maybe many people out there looking for loans now?
    Yes, many many at showflat also en bloc create a lot of money (money printing)

  9. #9
    Join Date
    Oct 2018
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    1

    Default

    All the banks are increasing their rates tis year.. and many more to come. Like what they say ... most people use mortgage brokers these days. You can also try my broker at https://www.MortgageWise.sg/ They give away $250 Tangs voucher now if you refinance above a certain amt..

  10. #10
    Join Date
    Nov 2015
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    All the wealth or cheap money has to come to an end someday and we are just getting close. QE cannot go on and on as someone will need to pay for it. There is never really any free money floating in the capital system quoting my LSE econ professor many years ago. Someone is paying for it and will take it back. All the leverage has been given for 10 years are chips that needed to be cashed in for the next 10 years. Question is, what have you done with this leverage in the past decade and counting?

  11. #11
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    Quote Originally Posted by PropVestor View Post
    All the wealth or cheap money has to come to an end someday
    If you know then you will know the end will never come.

  12. #12
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    LSE econ professor many years ago.

    Maybe can share the professor name.

  13. #13
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    Nov 2015
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    Quote Originally Posted by Arcachon View Post
    LSE econ professor many years ago.

    Maybe can share the professor name.
    We used to call him "The Lord". I think he is still around.

  14. #14
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    Nov 2015
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    Quote Originally Posted by Arcachon View Post
    If you know then you will know the end will never come.
    I know one thing for sure...everything will come to an end. You do not need a degree to know this.

  15. #15
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    Quote Originally Posted by PropVestor View Post
    I know one thing for sure...everything will come to an end. You do not need a degree to know this.
    Nope, the one who says got no end. “I am Alpha and Omega,”

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