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marktkt22
09-03-12, 11:10
Hi bro and sis,
What the risk of equity financing ?
Top up when valuations go south ...
Current rate look good for equity finance
devilplate
09-03-12, 11:17
Hi bro and sis,
What the risk of equity financing ?
Top up when valuations go south ...
Current rate look good for equity finance
i was told by banker tat MAS dun allow us to use the $ to purchase another ppty anymore wor
Ilikeu
09-03-12, 11:19
Hi bro and sis,
What the risk of equity financing ?
Top up when valuations go south ...
Current rate look good for equity finance

Can share what is the rate like?
teddybear
09-03-12, 11:46
How will they know what you do with the money after they disbursed to you? Simple, tell them that equity financing money is not for buying property loh (even though you may actually do so later)? :p


i was told by banker tat MAS dun allow us to use the $ to purchase another ppty anymore wor
devilplate
09-03-12, 12:22
How will they know what you do with the money after they disbursed to you? Simple, tell them that equity financing money is not for buying property loh (even though you may actually do so later)? :p
of coz initially they dun noe...

but wat if suay suay they call u to check where the $$ come from for the next condo purchase?
marktkt22
09-03-12, 12:34
Ok, but what the risks ? .... actually of doing equity finance vs normal house loan ?
Top up risk ?

I Wont use it for house, it for investment.....
Jonathan0503
09-03-12, 12:37
Don't think there's a restriction on what you can do with the money from equity loan.

At least not for my case
marktkt22
09-03-12, 12:37
Rates same as house loan


Can share what is the rate like?
devilplate
09-03-12, 12:48
Don't think there's a restriction on what you can do with the money from equity loan.

At least not for my case
last time definitely can use to buy ppty one lor...somemore can use the interest paid to reduce rental income tax

when u did ur equity loan? i was also very surprised to hear it from banker recently....just about 1mth ago
marktkt22
09-03-12, 13:21
Dbs bank .... Sound good.
I go ahead then ....v likely


last time definitely can use to buy ppty one lor...somemore can use the interest paid to reduce rental income tax

when u did ur equity loan? i was also very surprised to hear it from banker recently....just about 1mth ago
marktkt22
09-03-12, 13:30
Ocbc, scb and anz also can do,
I chk with them also
devilplate
09-03-12, 14:33
Ocbc, scb and anz also can do,
I chk with them also
For fixed rate, wats the spread after lock in period?
marktkt22
09-03-12, 16:02
Let me go and find out,
Because i intend to go 2+2 , so by 4th yr,
All locked in and clawback over already




For fixed rate, wats the spread after lock in period?
ecimbew
10-03-12, 09:28
Sorry I don't know much about equity loan. What's the criteria to secure this loan?
marktkt22
10-03-12, 12:42
Current Valuations exceed purchase price



Sorry I don't know much about equity loan. What's the criteria to secure this loan?
Arcachon
10-03-12, 12:58
Got the loan last year April 11, buy May 11. Going to claim interest for income tax this year.
Arcachon
10-03-12, 13:04
Current Valuations exceed purchase price

And after CSC is issue.
Jonathan0503
10-03-12, 14:03
last time definitely can use to buy ppty one lor...somemore can use the interest paid to reduce rental income tax

when u did ur equity loan? i was also very surprised to hear it from banker recently....just about 1mth ago

About 5 months ago. Maybe rule has changed now?
ecimbew
10-03-12, 14:10
Current value exceeds purchase price and must be after CSC is granted

Then how much equity loan is allowed?
DC33_2008
10-03-12, 14:30
This is not my cup of tea.
Current value exceeds purchase price and must be after CSC is granted

Then how much equity loan is allowed?
Arcachon
10-03-12, 15:03
Current value exceeds purchase price and must be after CSC is granted

Then how much equity loan is allowed?

Before the CM it was 70%, now after CM check with the bank, if I am not wrong should be 60% of valuation of property.
DC33_2008
10-03-12, 15:04
What if the person who took up this suddenly con off?
Before the CM it was 80%, now after CM check with the bank, if I am not wrong should be 60% of valuation of property.
Arcachon
10-03-12, 15:11
What if the person who took up this suddenly con off?

What is con off?
DC33_2008
10-03-12, 15:14
knock out! Go to find the maker suddenly!
What is con off?
Arcachon
10-03-12, 15:26
O I see. In the US, bank take back the house. In Singapore don't know.
DC33_2008
10-03-12, 15:31
Quite bad! Any recent photos of sportshub from SB?
O I see. In the US, bank take back the house. In Singapore don't know.
rattydrama
10-03-12, 20:37
Before the CM it was 70%, now after CM check with the bank, if I am not wrong should be 60% of valuation of property.

I heard that need to payback to cpf if downpayment draw down is from cpf. Is that true?

So in the end the balance amount may not be much.

For eg.
valuation is 1.2m
60% is now 720k

less loan outstanding is 500k.
less cpf refund 100k

cash balance 120k

I think this is how it works.
ecimbew
10-03-12, 23:09
Then it means having sufficient money in CPF and cash for another property!
Arcachon
11-03-12, 01:52
Quite bad! Any recent photos of sportshub from SB?

Still in France, going back Singapore for good maybe end of the year.
Arcachon
11-03-12, 03:01
I heard that need to payback to cpf if downpayment draw down is from cpf. Is that true?

So in the end the balance amount may not be much.

For eg.
valuation is 1.2m
60% is now 720k

less loan outstanding is 500k.
less cpf refund 100k

cash balance 120k

I think this is how it works.

Buy SB at $535,000 loan $428,000 in June 2006 after 20% down. TOP 2010, CSC Jan 2011.

Got a email from UOB, cash out $660,000 about 70% of SB valuation $1,550,000 in Apr 2011.

paying $1475.76 + $2329.14 = $ 3804.9 per month still positive with rental from 5 room, need to do something end of the year.
Arcachon
11-03-12, 03:31
http://v.youku.com/v_show/id_XMzMzNzM2NjE2.html
DC33_2008
11-03-12, 10:30
Got a recent offer of $1.7mil.
Still in France, going back Singapore for good maybe end of the year.
Arcachon
11-03-12, 15:27
Got a recent offer of $1.7mil.

Really, I am selling my 2 Bedroom if got offer of $1.7mil.
devilplate
11-03-12, 17:13
Got a recent offer of $1.7mil.
so u sold?

based on 4.5k rental....rental yield barely 3%

vy gd px to let go liao

dun tell me market picked up? goodie....i rec a sms 1-2wks ago got above 30th flr 2bdr selling 1.5xmil
bullman
13-03-12, 06:24
Hi bro and sis,
What the risk of equity financing ?
Top up when valuations go south ...
Current rate look good for equity finance

When market heads south, valuation follows, and bank calls for the top-up to maintain the same LTV. If your cash is tied up in another property, its GG.
price
13-03-12, 08:33
When market heads south, valuation follows, and bank calls for the top-up to maintain the same LTV. If your cash is tied up in another property, its GG.
Force sell? :banghead: