Home buyers must prove sale to get higher loan
HOME owners wanting to move and hoping for an 80 per cent loan on a new property will now have to produce evidence that they have sold their existing home. The proof must come in the form of a signed sale and purchase agreement and a certificate showing that the buyer of their current property … Read more
Impact of new measures on loans growth likely to be small
Banks see problems in extra checks needed for home loan applications New government measures to cool the property market and curb speculation in the resale market for HDB flats could cause headaches for banks here due to the extra checks needed for home-loan applicants, but the impact on loans growth will likely be small, a … Read more
Home loans below 1%
Maybank S’pore ups the ante in residential mortgage market Maybank Singapore has raised the bar in the home loans market with a slew of offerings that include mortgage rates below 1 per cent. Its fixed rate packages, with either a three or five-year fixed term, offer the lowest rate in town at 0.88 per cent … Read more
Maybank Singapore offers new packages for home loans market
Maybank Singapore has raised the bar in the home loans market with its slew of latest offerings that include mortgage rates lower than one per cent in the first year. For instance, its fixed rate packages with either a three or five-year term offers the lowest rate in town at 0.88 per cent a year … Read more
Mortgage defaults halved in two years
The percentage of mortgagors falling behind in their repayments in Singapore has halved over the last two years. Releasing the data on Monday, DP Credit Bureau (DPCB) said the average default rate fell to 0.43 per cent in March this year compared to 0.89 per cent in March 2008. This means that in 2008 one … Read more
Sibor or SOR? Now you can have them both
ANZ Bank offers unique floating rate mortgage ANZ Bank has launched a new floating rate home loan, believed to be the first of its kind here. The bank claims it could reduce the anxiety of homeowners because the loan is pegged to at least two reference rates, unlike the banking norm in Singapore where home … Read more
Cheaper home loans in store
Sibor and SOR, rates that mortgages are pegged to, have fallen KEY interest rates that determine mortgage levels have fallen steeply, promising cheaper home loans but even leaner times for those with bank deposits. The rates have been driven down by the economic recovery, which has led to an increased willingness by banks to lend … Read more
Fine art of mortgage refinancing
A PROPERTY is, perhaps, one of the most expensive items a person will purchase in his lifetime, and the mortgage debt is often a big concern for many. However, there are various means through which one can significantly manage such debt and gain financial freedom quickly. Besides cultivating sharp financial habits to spend less and … Read more
What you need to know before buying your home
Buying a home is one of the biggest purchases you will make in your lifetime, so it’s important to do your homework before you apply for that loan. Prepare in advance You must pay at least 1 per cent of the purchase price in exchange for an option to purchase. After that, you have 14 … Read more
Protect the roof over your head
It’s important to insure home loans in case breadwinner dies early The house we own is easily a family’s biggest of big-ticket items, but only three out of 10 home loan customers here buy mortgage insurance. While we believe we have insurance for nearly all of our needs, from children’s education to hospitalisation, some of … Read more
