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Old 12-04-2012, 10:13 AM   #31
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Hi Elvis,

Others I am not sure , but service from Housing Matters in Singapore is free for you
This must be your page...
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Old 12-04-2012, 04:58 PM   #32
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can't guarantee for ppl but can guarantee for myself
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Old 13-04-2012, 05:06 PM   #33
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Just call up one of my banker and he mention their promo rate(Do note that bank have the right to cease the promo package as and when they need to )

500k loan onwards

2 years lock in
1st year: sibor +0.55%
Thereafter: 3mth sibor +. 0.65%
Which bank is this..this looks like a very good deal..I have been going through a lot of banks for Singapore loans.. POSB looks good but this a better deal..
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Old 13-04-2012, 05:13 PM   #34
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When selecting your mortgage loans, you should not be just comparing the rates but also the other freebies and subsidies. Recently, I chose one of the banks, thinking it is offering 'lower' rates for the 1st 3 yrs. End up i am paying more on the legal fees cos it does not have full subsidies, while the other banks charging higher interest rates give FULL legal subsidies.

Also, do take note on the legal charge quotations. Typically, the legal firm should charge somewhere around 2.5K (before bank subsidiy) and this should include all other charges like CPF Conveyancing Fees and Mortgage Stamp Fees ($500).

I was recently quoted by one legal firm $2500 (legal fees) + $300 (cpf conveyancing fee) + $500 (mortgage stamp fee) = $3300. The 2nd legal firm i went charges me only $2300 inclusive of all other charges.
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Last edited by omomom; 13-04-2012 at 05:15 PM..
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Old 13-04-2012, 10:40 PM   #35
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Package not available for HDB and EC(below 10years).

Which bank is this..this looks like a very good deal..I have been going through a lot of banks for Singapore loans.. POSB looks good but this a better deal..
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Old 13-04-2012, 11:11 PM   #36
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There are different charges from different Lawfirm . Its just like for the same bottle of soft drink, at different location it's served at different price. Went to robertson quay last week and bought a bottle of 7 up. It cost me $2.30 from 7-11 which I can purchase at ntuc for less than a dollar. I can't say that they cheat my money.

As a service provider , I think different Lawfirm have the right to price their service fee as their overhead(manpower, rental etc) is different.

So for consumer , we have to do our homework before engaging a Lawfirm. But it doesn't mean that getting a Lawfirm that charge cheaper is good as I have client complaining to me that some Lawfirm that they engage screw up the case and end up they having to engage another Lawfirm end up paying more money.

If you were to enter a bank with Sibor Package without doing your homework, the banker will confirm tell you the pros of SIBOR and the CONS of SOR. This is how banker works else they won't be able to hit their target.

But it's different if you were to engage a mortgage broker for your loan, be it refinance or new purchase. they will explain to you what different package there are in the market and advice you which package suits you.

Unless facing a tough case or that particular bank dun do standard payout to the broker, broker will normally give Free service to their client .

When selecting your mortgage loans, you should not be just comparing the rates but also the other freebies and subsidies. Recently, I chose one of the banks, thinking it is offering 'lower' rates for the 1st 3 yrs. End up i am paying more on the legal fees cos it does not have full subsidies, while the other banks charging higher interest rates give FULL legal subsidies.

Also, do take note on the legal charge quotations. Typically, the legal firm should charge somewhere around 2.5K (before bank subsidiy) and this should include all other charges like CPF Conveyancing Fees and Mortgage Stamp Fees ($500).

I was recently quoted by one legal firm $2500 (legal fees) + $300 (cpf conveyancing fee) + $500 (mortgage stamp fee) = $3300. The 2nd legal firm i went charges me only $2300 inclusive of all other charges.
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Old 17-04-2012, 11:38 AM   #37
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Hi all..

My dad will get $150,000 after separation settlement from the sale of the HDB apartment.

Because he has already applied for a HDB loan before, we cannot apply for another HDB loan!! So can only turn to Bank. But I am not happy if we apply for another HDB.

I am thinking maybe I can apply for a Private Housing loan for a terrace/corner terrace/semi detached. But it is mentioned that a loan of up to 80% can be taken so 20% downpayment must be made in cash or CPF. taking $150,000 to be 20%, the price of an apartment we can "afford" is a $750,000 apartment.

Is there no other way to get around this? Not even if my salary increase?

Last edited by OlympicDreamer; 17-04-2012 at 12:09 PM..
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Old 17-04-2012, 03:05 PM   #38
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Hi ,

Do message me how much u declare as your income for 2 years so that I can advice you accordinly
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Old 18-04-2012, 10:02 AM   #39
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Hi,

I have a question in mind. Currently my name is listed as a joint borrower of my dad's property (coz my dad's old age and my mum is not working, the bank want to bring in another name as a borrower) but i am not the owner of the private property, can i still borrow up to 80% to finance a private condo i am intending to buy?

Thanks.
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Old 18-04-2012, 10:06 AM   #40
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would the bank approve loan if i dont have an income at the moment but willing to pledge the condo I intend to buy? I dont have problems paying for the 20%.. just need to borrow the 80%. thanks!
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Old 18-04-2012, 02:02 PM   #41
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Hi Sg_trader,

Everyone taking a mortgage loan will have to pledge the condo to the bank whether you have income a not.

For 1st property loan those without income will have to match different bank criteria to be granted the loan up to 80% (normally 70%-80%). Below are some banks criteria:

1) 24 * monthly instalment
2) $150,000
3) $200,000

Last edited by Fifa2006; 18-04-2012 at 02:05 PM..
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Old 18-04-2012, 03:59 PM   #42
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Hi Fifa2006,

Can provide some light to my question below? THanks...

Hi,

I have a question in mind. Currently my name is listed as a joint borrower of my dad's property (coz my dad's old age and my mum is not working, the bank want to bring in another name as a borrower) but i am not the owner of the private property, can i still borrow up to 80% to finance a private condo i am intending to buy?

Thanks.
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Old 18-04-2012, 09:13 PM   #43
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Hi Wongkc,

If you are a borrower of A property, you are only eligible for 60% for B Property. So you cfm u are the borrower, not just the guarantor ?
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Old 19-04-2012, 09:45 AM   #44
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Hi Wongkc,

If you are a borrower of A property, you are only eligible for 60% for B Property. So you cfm u are the borrower, not just the guarantor ?
Hi,

I have just confirmed with my banker. It is term loan and not a home loan. So that means i am able to borrow up to 80% right?
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Old 19-04-2012, 12:27 PM   #45
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Hi Wongkc,

Be it a home loan or a term loan, if borrowing is under your name, the next property you purchase will be only 60% LTV.

You have to check with your banker , are you the borrower or just the guarantor of the property. alternatively you can just email me your curent term loan Letter of Offer so that i can advice you accordingly
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