Free Advice/Discussion on Bank Mortgage loan

[Unbiasedsg_]

conversion, repricing fee of $800 is market rate ah

any chance to reduce or waive?

It's not market rate, some bank charge $1000 and beyond.
Instead of paying this admin fees, why not consider port over to other banks. We can get you full legal subsides for porting over to the other bank with up to S$1,000 cash rebates.

If you're keen, drop us a PM.

 

[dnsfpl]

isn't that weird, most if not all banks prefer new customer than retaining existing

the good thing about repricing is immediate, whereas refinancing need 3 mths notice

 

[Unbiasedsg_]

isn't that weird, most if not all banks prefer new customer than retaining existing

the good thing about repricing is immediate, whereas refinancing need 3 mths notice

I agree with you, it’s weird that most if not all banks prefer new customer than retaining existing.

It’s quite akin to telco subscription, if you port over to other telco (e.g. StarHub to Singtel), usually the competitor will give you more rebates for your phone on a new 2 year contract.

 

[dnsfpl]

I agree with you, it’s weird that most if not all banks prefer new customer than retaining existing.

It’s quite akin to telco subscription, if you port over to other telco (e.g. StarHub to Singtel), usually the competitor will give you more rebates for your phone on a new 2 year contract.

telco allow recontract at 19 mth vs standard 21 mths

2 mths earlier is a lot, esp for those who profit from flipping phones

 

[XTidusX]

Looking for a bank loan for BTO (BUC), between 250k - 300k amount. What are the interest rates now?

Better to take smaller amount with shorter loans or higher amount with longer loans?

 

[Unbiasedsg_]

Looking for a bank loan for BTO (BUC), between 250k - 300k amount. What are the interest rates now?

Better to take smaller amount with shorter loans or higher amount with longer loans?

If your loan is small, difficult to get good rates.
If based on your loan amount, the rates as follow:-

1.12% + fhr8 (0.95%) throughout = 2.07%
No lock in
1 time free conversion within 6 mths from TOP

 

[cheongking888]

DBS lowered rate to 1.84%

 

[Unbiasedsg_]

DBS lowered rate to 1.84%

If your loan is above $2m, we can try to get for you 1.80%. (subjected to approval)
If below, can try 1.82% fixed 2 years.

 

[curo]

Hi, I'm planning to refinance my HDB loan. Looking at about 290k.
I saw that DBS enhanced loan is 5 years fix rate of 2%.

Is it worth it or should I just stick to HDB loan. My loan is at 25 years and currently in my 1.5years loan.

Anyone can help as I'm not very good at this

 

[XTidusX]

If your loan is small, difficult to get good rates.
If based on your loan amount, the rates as follow:-

1.12% + fhr8 (0.95%) throughout = 2.07%
No lock in
1 time free conversion within 6 mths from TOP

What does conversion mean? I would like to know more, can you pm me? I can't send pm, still new.

 

[Unbiasedsg_]

Hi, I'm planning to refinance my HDB loan. Looking at about 290k.
I saw that DBS enhanced loan is 5 years fix rate of 2%.

Is it worth it or should I just stick to HDB loan. My loan is at 25 years and currently in my 1.5years loan.

Anyone can help as I'm not very good at this

If you’re interested, PM me bro. I can send you the amortization spreadsheet, so you can play around to make an informed decision.

 

[Unbiasedsg_]

What does conversion mean? I would like to know more, can you pm me? I can't send pm, still new.

Conversion means, to convert and send another contract for another 2 years based on the then prevailing promo rates. Typically bank charges any where from $800 to thousand plus for such admin fees.

Anyway PM dropped.

 

[XTidusX]

Conversion means, to convert and send another contract for another 2 years based on the then prevailing promo rates. Typically bank charges any where from $800 to thousand plus for such admin fees.

Anyway PM dropped.

I see. Thanks. Read through some posts, is SIBOR or FD based loans better now?

 

[XTidusX]

If your loan is small, difficult to get good rates.
If based on your loan amount, the rates as follow:-

1.12% + fhr8 (0.95%) throughout = 2.07%
No lock in
1 time free conversion within 6 mths from TOP

Just a question, Will the duration of loan also affect the interest rate as well?

 

[Unbiasedsg_]

I see. Thanks. Read through some posts, is SIBOR or FD based loans better now?

I reckon SIBOR will be much better, as it provides more transparency as opposed to board rates or even Fixed deposit pegged package. Unfortunately, a lot of the promo rates for SIBOR has a minimum sum which explains why there are still people opting for board rates or FD pegged package as they are being priced very attractively with low entry point.

I always stress to others, there aren't best package out there, each option does come with it's pro and cons. If you require someone to articulate the options, just PM me bro.

 

[Unbiasedsg_]

Just a question, Will the duration of loan also affect the interest rate as well?

Yes of course, the shorter the tenure, the more money is being channeled towards principal. General rule of thumb, mortgage loan is based on amortization, if you require the amortization spreadsheet, just drop us a PM. We will be more than happy to share it with you.

 

[Itguru888]

We have curate some compelling options for your kind consideration:-

Option 1
2 Year Fixed Rate 1.84% (FIXED rate with 2 years lock in)
Year 1: 1.84%
Year 2: 1.84%
Thereafter: FHR8+0.95%
Waiver due to sale

Option 2
HDB promotion
5 Years FIXED rates (5 years lock in period) :
Minimum loan amount $200K - $2000 cash rebate for HDB refinancing (Claw back within 3 years)
Y1 2.00%
Y2 2.00%
Y3 2.00%
Y4 2.00%
Y5 2.00%
Y6 & thereafter FHR8 + 1.05%

Cancellation Fee of 0.75% will be charged on undisbursed amount or amount cancelled.
During the 5 yrs lock in period, you are allow to do partial repayment by giving 1 month notice.

Hi There,

I tried to reach out to you via DM but my post count is too low. I reached out to you before but then it was still some time away from my lock up period but we are getting there could you send me your contact details and I ll reach out to you.

 

[Unbiasedsg_]

Hi There,

I tried to reach out to you via DM but my post count is too low. I reached out to you before but then it was still some time away from my lock up period but we are getting there could you send me your contact details and I ll reach out to you.

Sure bro, we have dropped you a PM with our contact details.
Take note you need more than 10 posts before if you can PM.

 

[laduree]

Hi Unbiased, I’m also looking for bank loans for my BUC. Can drop me a PM on this? Cos got less than 10 posts. Thanks!

 

[Unbiasedsg_]

Hi Unbiased, I’m also looking for bank loans for my BUC. Can drop me a PM on this? Cos got less than 10 posts. Thanks!

Sure laduree, PM dropped, do check your inbox.
(p.s. just bit slightly more active and you can start to PM.)