Question about home loan

[kwinsee]

Hi,
I'd like to consult any guru here for my house loan, any help is appreciate.

I switched to EC two years ago with a home loan with locking period of 2 years, and the locking period will be over at the end of this year. I know I have choices like refinance or re-price after that, anyway, I'd like to do a lump sum payment first as I sold my hdb.

My question is when I should contact bank to do the lump sum payment, should I do it during the re-financing or re-pricing? or do it before that? thanks in advance.

 

[yoongf]

U shd hv a 3 mth notice period.
Write in abt 3 mths before end of lock in date to repay lumpsum on day after lock in ends.

Refinance or reprice need to shop ard. No clear answer on this. Depends a lot on age and Monthly Installment affordability.

 

[sgdividends]

During repricing and refinancing can do lump sum payment as long as after lock in period....

refinancing takes about 3 months to effect , repricing around 1 month

 

[kwinsee]

Thanks for the replies!