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condo888
18-08-11, 18:47
i signed up a home loan at 1.99% in 2009 , lock-in 3 years till 2012.
what is the normal penalty if i sell my house or refinance ?
ysyap
18-08-11, 18:57
i signed up a home loan at 1.99% in 2009 , lock-in 3 years till 2012.
what is the normal penalty if i sell my house or refinance ?Different banks have different penalty, depending on the terms and conditions. Mine was 1.5% of the loan amount from UOB. Must check with your banker. :D
kingkong1984
18-08-11, 19:02
look at the claw back fee indicated.
propertyinvestor
18-08-11, 20:39
i signed up a home loan at 1.99% in 2009 , lock-in 3 years till 2012.
what is the normal penalty if i sell my house or refinance ?

Depending on bank. Usually is 1.5% of the amount not disburse. Also have to pay back the legal claw back which is usually around 2.5k depending on the loan amount.
zzz1
18-08-11, 20:51
i signed up a home loan at 1.99% in 2009 , lock-in 3 years till 2012.
what is the normal penalty if i sell my house or refinance ?
If they thow in free legal free , it may be recovered back
taggy
18-08-11, 21:00
If they thow in free legal free , it may be recovered back

plus valuation and fire insurance (basically whatever they gave u free, will be craw back within lockin period)
Yin Yin
18-08-11, 21:43
i signed up a home loan at 1.99% in 2009 , lock-in 3 years till 2012.
what is the normal penalty if i sell my house or refinance ?


Same case here, but locked till 2013. Mine is 11k penalty, inclusive of commitment fee, admin fee, return of subsidized legal fee, and new legal fee. But that is also depending on loan amount. The best is call your bank mortgage hotline to enquire.
zzz1
18-08-11, 21:56
plus valuation and fire insurance (basically whatever they gave u free, will be craw back within lockin period)
Yap yap in the end of the day , the balance sheet must incl all these to determine the gain or loss amount.
sugar
18-08-11, 22:27
i signed up a home loan at 1.99% in 2009 , lock-in 3 years till 2012.
what is the normal penalty if i sell my house or refinance ?

if you sell your house, and take a new loan for your new house with the same bank (certain bank), they can waive the penalty for you.
only pay legal claw back and admin fee