HWZ Forums

Login Register FAQ Mark Forums Read

Free Advice/Discussion on Bank Mortgage loan

Like Tree262Likes
Reply
 
LinkBack Thread Tools
Old 11-02-2019, 11:05 PM   #2551
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
I'm also surprised why leh...
We are surprised that you need to take things in your own hands whereby the whole purpose of engaging a broker is to save yourself the hassle in lieu of calling up the banks to source on your own.

If you're talking about resale HDB, you could have gotten yourself 2 years fixed rates at 1.88% instead of the floating package 1m sibor + 0.3% which is 2.07%. We are just sharing that despite the rates has expired, we have managed to get the expired rates for some of HWZ members. On top of the free service, they get to enjoy Takashimaya shopping vouchers too as well.
Unbiasedsg_ is offline   Reply With Quote
Old 12-02-2019, 01:06 PM   #2552
Junior Member
 
Join Date: Aug 2018
Posts: 26
currently im taking OCBC board rate at 2.25%, quantum $1.1M, still in lock in period but have 1 time free conversion.
Is it advisable to convert to Sibor rate?
Brown24 is offline   Reply With Quote
Old 12-02-2019, 08:50 PM   #2553
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
currently im taking OCBC board rate at 2.25%, quantum $1.1M, still in lock in period but have 1 time free conversion.
Is it advisable to convert to Sibor rate?
With the hike being a recent event, any further interest hike within the next few months will be unlikely. Hence, I opined to adopt a wait and see approach.
Do remember that you need to serve a 3month notice, you can actually start looking around when you are 1.5 years into your locked in period bro. With such a high loan quantum, we will be able to do ZERO-COST refinancing for your legal fees bro.

Last edited by Unbiasedsg_; 12-02-2019 at 09:44 PM..
Unbiasedsg_ is offline   Reply With Quote
Old 13-02-2019, 08:03 PM   #2554
Junior Member
 
Join Date: Sep 2017
Posts: 13
Hi all, with the recent hike of interest rate. Is there any chance that it will fall or reduce after a while?
Champion star is offline   Reply With Quote
Old 13-02-2019, 11:16 PM   #2555
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
Hi all, with the recent hike of interest rate. Is there any chance that it will fall or reduce after a while?
Depending which floating package you took.
SIBOR may fall, but Board rate package and fixed deposit package highly unlikely.
Unbiasedsg_ is offline   Reply With Quote
Old 14-02-2019, 10:54 AM   #2556
Junior Member
 
Join Date: Mar 2016
Posts: 50
Its the OCBC OHR. Loan quantum around 800k.

I went to check with OCBC, they told me no locked-in period for my package, but if I choose to refinance i have to pay 1.5% penalty. I'm confused. No locked-in period why got penalty?
DerekTsang is offline   Reply With Quote
Old 14-02-2019, 05:17 PM   #2557
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
Its the OCBC OHR. Loan quantum around 800k.

I went to check with OCBC, they told me no locked-in period for my package, but if I choose to refinance i have to pay 1.5% penalty. I'm confused. No locked-in period why got penalty?
The penalty should be for the undisbursed amount only?
Unlikely to be the entire amount.
Unbiasedsg_ is offline   Reply With Quote
Old 14-02-2019, 10:33 PM   #2558
Senior Member
 
Join Date: Jun 2010
Posts: 909
Its the OCBC OHR. Loan quantum around 800k.

I went to check with OCBC, they told me no locked-in period for my package, but if I choose to refinance i have to pay 1.5% penalty. I'm confused. No locked-in period why got penalty?
do you have to go to the branch to ask about your loan package? or just call into ocbc hotline to ask about yr housing loan package?
subprimelive is offline   Reply With Quote
Old 15-02-2019, 12:20 AM   #2559
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
do you have to go to the branch to ask about your loan package? or just call into ocbc hotline to ask about yr housing loan package?
You can refer to your signed Letter of Offer.
If you still are uncertain, you can PM us bro.
Unbiasedsg_ is offline   Reply With Quote
Old 15-02-2019, 11:28 PM   #2560
Senior Member
 
Join Date: May 2011
Posts: 741
My current interest rate is 2.95% (average is 3% over 4 years). Should I refinance?
continuum is offline   Reply With Quote
Old 16-02-2019, 12:57 PM   #2561
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
My current interest rate is 2.95% (average is 3% over 4 years). Should I refinance?
wah almost 3%, confirm must refinance sioz!
PM us if you need help on the lowest rates in town bro.
Unbiasedsg_ is offline   Reply With Quote
Old 18-02-2019, 10:30 AM   #2562
Junior Member
 
Join Date: May 2007
Posts: 60
I reckon fixed deposit package at 1.95% would be a better option.
Online its being marketed at more than 2.125%, we can try to get it for you at 1.95%. I think best is to stay far away from board rate package,unless you have difficultly to get your loan approved.
Also, enjoy up to S$1000 Takashimaya vouchers as well. PM us for more info.
Hi, could you also PM me your contact. Would like to speak to you on your opinion.. Thanks
tanguohao is offline   Reply With Quote
Old 19-02-2019, 08:46 AM   #2563
Junior Member
 
Join Date: May 2007
Posts: 60
Why would you want to get yourself tied up now for something that's irrelevant 3 years down?
Bank give you X rate, 3 years down the road there's bound to be changes, why would you want to get tied up and limit your options?

When the interest rise, they give you a free conversion, but you're only limited to that bank's offer since the penalty to refinance to other bank doesn't make economical sense.
If you're the bank, will you show mercy or aim for highest profit?
Sorry to bump up old post....
Does it means settling the progressive payment from our own pocket rather than taking loans for the next 3 years?
tanguohao is offline   Reply With Quote
Old 19-02-2019, 10:16 AM   #2564
Junior Member
 
Join Date: Apr 2018
Posts: 3
Most certainly bro, do check your inbox.
Bro can pm me your contacts? Count too low to pm you
Ninjaman2 is offline   Reply With Quote
Old 19-02-2019, 01:58 PM   #2565
Member
 
Unbiasedsg_'s Avatar
 
Join Date: Dec 2018
Posts: 173
Sorry to bump up old post....
Does it means settling the progressive payment from our own pocket rather than taking loans for the next 3 years?
Yes, if you have sufficient resources around, like few hundred thousand cash, then settling the progressive payment could be a viable option. If not, I believe most property owners especially the younger generation will require a loan to acquire a property in Singapore.

Regardless of which floating package you go for, there are bound to be changes, hence you will need to evaluate each floating package (SIBOR, Board rate, Fixed deposit) and how the market has response/feedback to it.

Once you have done your calculated risk/ due diligence, stick with it until the loan is fully disbursed to avoid unnecessary penalty for the undisbursed amount. Upon full disbursement, re-evaluate what the market has to offer, especially when your project has TOP, fixed rate package will be made available to you.

If you still require further assistance, do PM us, we endeavour to assist you in every way we can bro.
Good luck!
Unbiasedsg_ is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On