Home re-finance

[sundown]

hey finance gurus,

I'm currently with HSBC and my 3 years is up and it's time for me to look for another bank for refinancing my condo. Any advice on which banks are offering good deals?

thanks bros

 

[Jumpman23]

hey finance gurus,

I'm currently with HSBC and my 3 years is up and it's time for me to look for another bank for refinancing my condo. Any advice on which banks are offering good deals?

thanks bros

Just got a home loan recently. So far DBS and Citibank seem to offer the best rates.
Dbs - FHR + 1.1% for 3 yrs. No lock in.
Citibank - Sibor + 0.85% for 3 yrs, 2 yrs lock in.

 

[FP_IFA]

Go for fixed rates.

 

[sundown]

Thanks!

this is what I got from UOB
1) 3Month Sibor with 50% Homestar Package (No Lock in)

Year 1: 3 Month Sibor + 0.85% (All-in rate is 1.67%)
Year 2: 3 Month Sibor + 0.85%
Year 3: 3 Month Sibor + 0.85%
Year 4: 3 Month Sibor + 1.00%

Thereafter: 3 Month Sibor + 1.25%

Partial Prepayment: No penalty
Full Redemption: No penalty
Min Loan Amount: $400K

2) UOB Floating Rate Package with 50% Homestar Deposit Matching (No Lock in Package)

Yr 1: 1.38%(MR less 3.12%)
Yr 2: 1.58%(MR less 2.92%)
Yr 3: 1.78%(MR less 2.72%)

Thereafter: 2.65%( MR less off 1.85%)

 

[lusunshine]

Thanks!

this is what I got from UOB
1) 3Month Sibor with 50% Homestar Package (No Lock in)

Year 1: 3 Month Sibor + 0.85% (All-in rate is 1.67%)
Year 2: 3 Month Sibor + 0.85%
Year 3: 3 Month Sibor + 0.85%
Year 4: 3 Month Sibor + 1.00%

Thereafter: 3 Month Sibor + 1.25%

Partial Prepayment: No penalty
Full Redemption: No penalty
Min Loan Amount: $400K

2) UOB Floating Rate Package with 50% Homestar Deposit Matching (No Lock in Package)

Yr 1: 1.38%(MR less 3.12%)
Yr 2: 1.58%(MR less 2.92%)
Yr 3: 1.78%(MR less 2.72%)

Thereafter: 2.65%( MR less off 1.85%)

As of 13-Aug, 3M SIBOR is 0.94%, so UOB 3M SIBOR + 0.85% is already 1.79% liao! Go for DBS FHR + 1.10% = 1.50%, plus this month got special promo, 0.2% cash rebate if you loan amount is more than 700K.

 

[chuanz]

Go for fixed rates.

This, I think fixed would not do any worse than floating (provided nothing unexpected happens to the financial markets) in the next three years.

 

[Genesisz]

Go for fixed rates.

I agree and second this.

 

[sundown]

thanks guys.

 

[djchris]

thanks guys.

Refinanced with POSB in Dec. They have mortgage plans that are tied to their fixed deposit interest rates so the fluctuation is much lesser compared to sibor.

Worth checking them out.

 

[sgdividends]

Anyone used mortgage offset from SCB?

Is it worth it to do? Is there any catch?