View Full Version : Changes to home loans
This thread is to keep everyone informed of the latest changes.. Whether it is increased spreads, new packages, special promotions, you can hear it first in this thread.
HSBC: increased min loan quantums while spreads stay the same.
DBS Commercial: For Completed under personal name. 3M SIBOR + 0.98% for year 1-3 with interest rate cap at 1.98%
Promotion ends 20 April. PM for details.
ikan bilis
09-04-12, 22:25
DBS Commercial: For Completed under personal name. 3M SIBOR + 0.98% for year 1-3 with interest rate cap at 1.98%
Promotion ends 20 April. PM for details.
quantum ??.. and wat spread after 3yrs ??...
quantum ??.. and wat spread after 3yrs ??...
refi after 3 years lor. assuming the lock in is only for 3 years.
Allthepies
09-04-12, 23:00
DBS Commercial: For Completed under personal name. 3M SIBOR + 0.98% for year 1-3 with interest rate cap at 1.98%
Promotion ends 20 April. PM for details.
Wat the rate like for residential under company?
TS agenda is to earn from referral fees... Tsktsktsk
Wat the rate like for residential under company?
The promo is for personal name.
UOB Fixed rates up from year 1 1.18 to 1.28
Citibank loan quantum increased for selected packages
DBS increases the spread for packages that have cap of 1.49% for first 2-3 years, from 0.85% + 3M SIBOR to 0.88% + 3M SIBOR for year 1-3
Click to compare home loans (http://www.findahomeloan.sg).
Latest packages from State Bank of India
For Completed Properties
Loan Quantum: $500,000
Y1: 3M SIBOR +0.60%
Y2: 3M SIBOR +0.70%
Y3: 3M SIBOR +1%
Y4: 3M SIBOR +1.50%
Y5: 3M SIBOR +1.50%
More packages are available. If you need more info, you can calculate and compare home loans here (http://www.findahomeloan.sg).
Gone are the days with 0.6 or 0.75%+sibor throughout.
Gone are the days with 0.6 or 0.75%+sibor throughout.
even got, they peg to 3yr contract only ,right?
then if renew, they will offer the new higher rate to us which we cannot refuse to accept also.. :2cents:
People buying property now with loan is worst off as compared to 2 years ago.
even got, they peg to 3yr contract only ,right?
then if renew, they will offer the new higher rate to us which we cannot refuse to accept also.. :2cents:
Standard Chartered
For BUC, spread went up from 0.7% to 0.75% + 1/3M SIBOR for year 1-3.
Standard Chartered
For BUC, spread went up from 0.7% to 0.75% + 1/3M SIBOR for year 1-3.
The lowest I got from them is 1month sibor + 0.5%. :cheers6:
The lowest I got from them is 1month sibor + 0.5%. :cheers6:
Solid! Throughout or first 3 yrs only? Care to share which bank?
The lowest I got from them is 1month sibor + 0.5%. :cheers6:
I presume this is for 1st year, how about the 2nd and 3rd year? 2 years lock in, 3 years crawl back?
Mine is Stanchart 3 years. 0.5%, 0.5%, 0.6%. Clawback sure have. Fire insurance for 5 years foc. Full legal subsidy.
Mine is Stanchart 3 years. 0.5%, 0.5%, 0.6%. Clawback sure have. Fire insurance for 5 years foc. Full legal subsidy.
I suppose this is for BUC?
July 12 2012
New Fixed Rates Home Loan packages for Completed properties only! They are applicable for both HDB and Private. This is a promotion for limited period only! Check out the
2 year fixed rates for HDB at 1.25%, 1.35%,
2 year fixed rates for Private at 1.25%, 1.35%,
3 year fixed rates for HDB at 1.25%, 1.35%, 1.45%,
3 year fixed rates for Private at 1.25%, 1.35%, 1.45%
For more info, click here (http://www.findahomeloan.sg/component/k2/item/132-latest-changes-to-home-loans)
The promotion packages show that the bank is either desperate for clients and/or the rates will maintain low till end 2015.
July 12 2012
New Fixed Rates Home Loan packages for Completed properties only! They are applicable for both HDB and Private. This is a promotion for limited period only! Check out the
2 year fixed rates for HDB at 1.25%, 1.35%,
2 year fixed rates for Private at 1.25%, 1.35%,
3 year fixed rates for HDB at 1.25%, 1.35%, 1.45%,
3 year fixed rates for Private at 1.25%, 1.35%, 1.45%
For more info, click here (http://www.findahomeloan.sg/component/k2/item/132-latest-changes-to-home-loans)
The promotion packages show that the bank is either desperate for clients and/or the rates will maintain low till end 2015.
Hi,
We took up a loan with DBS in jul 2008:
1st year 12 month sibor + o.5, 2nd year 12 month sibor + 0.75, thereafter 12 month sibor + 1
I was told by the bank yesterday that I can reprice the loan with fee of 500 with 2 year lock in period:
1st,2nd and 3rd year 3 month sibor + 0.75 and thereafter 3 month sibor + 1.
For a 1 million loan, we could potential save about $7,500(0.25% * 1 million * 3 years) for the first 3 years. The 3 month sibor rate is also lower than 12 month sibor now
Am I missing something? sounds too good to be true?
So DBS is doing something to retain their existing clients. Loan tenure can now be increased to 50years. Do they expect the next generation to pay for the mortgage?
Hi,
We took up a loan with DBS in jul 2008:
1st year 12 month sibor + o.5, 2nd year 12 month sibor + 0.75, thereafter 12 month sibor + 1
I was told by the bank yesterday that I can reprice the loan with fee of 500 with 2 year lock in period:
1st,2nd and 3rd year 3 month sibor + 0.75 and thereafter 3 month sibor + 1.
For a 1 million loan, we could potential save about $7,500(0.25% * 1 million * 3 years) for the first 3 years. The 3 month sibor rate is also lower than 12 month sibor now
Am I missing something? sounds too good to be true?
phantom_opera
19-07-12, 09:51
Nothing can beat HDB loan @ 2.6% ... can I refinance to extend till death ?? :p
you guys know any after deal than dbs? thanks
What happen to those 65bps throughout deals ? 75bps for 3y I think many banks can match it without the fee.
newbie11, why you never say that tenure has now been changed.
from UOB website
http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html
Q3. What is the maximum loan repayment period? (http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html#)
Freehold Property
Up to 50 years or 80 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 50 years. The loan duration plus the age of the applicant must be less than or equal to 80 years.
Leasehold Property
Up to 50 years or 80 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenorAKAN DATANG. 3 generation loan.
phantom_opera
20-07-12, 09:27
If one decides to switch HDB loan to bank loan, is it possible to increase the loan tenure e.g. from 15y with HDB to 30y with bank??
I know it is not worth the risk in terms of interest rate, but just curious.
newbie11, why you never say that tenure has now been changed.
from UOB website
http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html
Q3. What is the maximum loan repayment period? (http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html#)
Freehold Property
Up to 50 years or 80 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 50 years. The loan duration plus the age of the applicant must be less than or equal to 80 years.
Leasehold Property
Up to 50 years or 80 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenor AKAN DATANG. 3 generation loan.
UOB can set 50 year mortgage.
so it looks like devilplate is wrong in his response to my question?
http://forums.condosingapore.com/showpost.php?p=205344&postcount=2585
yes carbuncle, my memory is like a dinosaur for useless stuff.
http://www.stproperty.sg/articles-property/money-matters/home-loan-repayment-can-now-stretch-to-50-years/a/74687
I'll want to extend the term of my loan when I re-finance!
So DBS is doing something to retain their existing clients. Loan tenure can now be increased to 50years. Do they expect the next generation to pay for the mortgage?
Next generation already inherit the house, what's wrong with getting them to pay the rest of the mortgage after the buyer passes on? :confused: They can sell and cash out if they don't want to live in the house.
Better to inherit a fully paid house. :D
http://www.stproperty.sg/articles-property/money-matters/home-loan-repayment-can-now-stretch-to-50-years/a/74687
I'll want to extend the term of my loan when I re-finance!
Next generation already inherit the house, what's wrong with getting them to pay the rest of the mortgage after the buyer passes on? :confused: They can sell and cash out if they don't want to live in the house.
UOB can set 50 year mortgage.
so it looks like devilplate is wrong in his response to my question?
http://forums.condosingapore.com/showpost.php?p=205344&postcount=2585
yes carbuncle, my memory is like a dinosaur for useless stuff.
Wait.. if it's 50yrs loan.. Wow..
It's worth buying as big a house as possible.
50yrs ..even though u r paying your interest (might be equivalent to your house initial price), but the gain will definitely be more then what you pay in interest.
Imagine 1970s, Landed is $200k , 40yrs in 2010, it was $2mil.
So, if i 38yrs old, I can loan only 75-38= 37yrs.
Sheeze... Wasted...
But maybe can put under my niece's name.. she's 5yrs old.
Wait.. if it's 50yrs loan.. Wow..
It's worth buying as big a house as possible.
50yrs ..even though u r paying your interest (might be equivalent to your house initial price), but the gain will definitely be more then what you pay in interest.
Imagine 1970s, Landed is $200k , 40yrs in 2010, it was $2mil.
So, if i 38yrs old, I can loan only 75-38= 37yrs.
Sheeze... Wasted...
But maybe can put under my niece's name.. she's 5yrs old.
sorry have to correct you. repeat of earlier post
http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html
Q3. What is the maximum loan repayment period? (http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html#)
Freehold Property
Up to 50 years or 80 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 50 years. The loan duration plus the age of the applicant must be less than or equal to 80 years.
Leasehold Property
Up to 50 years or 80 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenor
sorry have to correct you. repeat of earlier post
http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html
Q3. What is the maximum loan repayment period? (http://www.uob.com.sg/personal/loans/property/mortgage_resource/resource1_faq_mortgage.html#)
Freehold Property
Up to 50 years or 80 years of age, whichever is earlier. For example, if you are 25 years old now and buying a freehold property, the maximum loan period is 50 years. The loan duration plus the age of the applicant must be less than or equal to 80 years.
Leasehold Property
Up to 50 years or 80 years of age at end of loan tenor, whichever is earlier, and remaining lease of at least 35 years at the end of loan tenor
Lol.. ya.. so it's max 50yrs.
Must checked with UOB tomorrow.
Better to inherit a fully paid house. :D
Of course lah :D If cannot then a 20% paid house is good oso wad.
Latest additions, available from 30 July to 20 August 2012. Hurry!
DBS introduced new promotional home loans, in celebration of Singapore's 47th birthday! Now you can have a 5 year fixed home loan at 1.5% only. You can also choose the DBS 1+1 home loans with MPM or without MPM. 1+1 means year 1 is fixed interest rate and you have the option to fixed year 2 too. They also extend the 2+2 housing loan with MPM or without MPM during this period.
Read more (http://www.findahomeloan.sg/resource-centre/item/132-latest-changes-to-home-loans)
Allthepies
03-08-12, 22:33
Any idea which bank currently offers a SIBOR spread of less than 0.75% for at least 3 years?
Am currently serving last year of a 1.99% 3 yr fixed loan under DBS as well.
Does it make sense to switch to this 1.18% 1+1 NOW.
Do you think penalty fee still applies if switch within bank? :simmering:
Appreciate your advice.
Latest additions, available from 30 July to 20 August 2012. Hurry!
DBS introduced new promotional home loans, in celebration of Singapore's 47th birthday! Now you can have a 5 year fixed home loan at 1.5% only. You can also choose the DBS 1+1 home loans with MPM or without MPM. 1+1 means year 1 is fixed interest rate and you have the option to fixed year 2 too. They also extend the 2+2 housing loan with MPM or without MPM during this period.
Read more (http://www.findahomeloan.sg/resource-centre/item/132-latest-changes-to-home-loans)
Am currently serving last year of a 1.99% 3 yr fixed loan under DBS as well.
Does it make sense to switch to this 1.18% 1+1 NOW.
Do you think penalty fee still applies if switch within bank? :simmering:
Appreciate your advice.
Yes. Bank will issue you a Penalty fee :scared-1: !
Any idea which bank currently offers a SIBOR spread of less than 0.75% for at least 3 years?
Citibank offers what you're looking for.
Allthepies
05-08-12, 23:07
Citibank offers what you're looking for.
Their rate is 0.68% only for first year, 2nd and 3rd is 0.78% and 0.88%
depends on your loan quantum
Don't wish to pay for legal clawback? New loans with REFINANCING SUBSIDY and Free Repricing for COMPLETED properties. And 3-year fixed rates just got lower.
Read more (http://www.findahomeloan.sg/component/k2/item/132-latest-changes-to-home-loans)
Introducing the home loans with refinancing subsidy that will pay for your legal clawback! It will pay up to 0.3% of loan amount, capped at $2,500 for Private and $1,000 for HDB.
More info (http://www.findahomeloan.sg/resource-centre/item/202-these-home-loans-will-pay-for-your-legal-clawback)
Am currently serving last year of a 1.99% 3 yr fixed loan under DBS as well.
Does it make sense to switch to this 1.18% 1+1 NOW.
Do you think penalty fee still applies if switch within bank? :simmering:
Appreciate your advice.
that means you are in 3rd yr lock in period and there's penalty.. u can still call them and ask. just a phone call away. maybe your quantum is huge enough to bargain?
Latest from ANZ: They have increased the year 4 thereafter rates to 0.9%! No more flat margin of 0.7% or 0.8%. Click for a list of all ANZ mortgages. (http://www.findahomeloan.sg/banks/90-anz-home-property-loans)
ANZ introduced their Fixed home loans for Completed Private and HDB properties. 2 year fixed housing loans for HDB are 1.4%, and it's applicable for Private too. If you have $150,000 under AUM, then you will enjoy 1.35% for 2 years.
Allthepies
15-08-12, 23:24
ANZ introduced their Fixed home loans for Completed Private and HDB properties. 2 year fixed housing loans for HDB are 1.4%, and it's applicable for Private too. If you have $150,000 under AUM, then you will enjoy 1.35% for 2 years.
This rate looks yucky, DBS fixed rate 1.28% for 2 years. No need to put deposit.
A suggestion, u should provide value added service by just stating the bank with the best offer.
Thanks for suggestion. This thread is to track the latest changes. Best loans are listed in http://www.findahomeloan.sg/best-home-loan
Allthepies
17-08-12, 22:01
Thanks for suggestion. This thread is to track the latest changes. Best loans are listed in http://www.findahomeloan.sg/best-home-loan
Cool :cheers1:
The latest news in the market is few banks have stopped giving home loan freebies! No more free legal subsidy, fire insurance!
The latest news in the market is few banks have stopped giving home loan freebies! No more free legal subsidy, fire insurance!
Aren't they desperately trying to increase market share for home loans? Are they converting the freebies into interest rate discounts instead? :D
low interest rates not sustainable. freebies eating into their margins. banker can still treat starbucks kopi though... no problem.
low interest rates not sustainable. freebies eating into their margins. banker can still treat starbucks kopi though... no problem.
To be exact, it should be the low interest spread which is not sustainable.
less than 1% spread is unheard of in other countries.
If you have loan which is sibor + (less than 0.8%) throughout, can continue to stick to it
following MAS guideline
look like garmen implementing all ways to discourage prop buying :rolleyes:
To be exact, it should be the low interest spread which is not sustainable.
less than 1% spread is unheard of in other countries.
If you have loan which is sibor + (less than 0.8%) throughout, can continue to stick to it
My Sibor+0.75...:D !
My Sibor+0.75...:D !
mine 0.7%! Just got letter, currently at 1.07% interest rate
mine 0.7%! Just got letter, currently at 1.07% interest rate
Mine is 0.55 spread yr1, 0.65 spread thru out, currently at 0.93% :D :D
Mine is 0.55 spread yr1, 0.65 spread thru out, currently at 0.93% :D :D
that's amazing.. which bank is that from?
that's amazing.. which bank is that from?
Boc, signed in apr :)
Boc, signed in apr :)
wow never knew they offer such rates. was ur loan quantum huge?
1. Do you foresee SOR-based interests changing over the next 3 years?
2. If loan package is already signed but building not started or completed is it possible to change package, for example from board-rate based % to SOR-based?
Is it in the agreement that you are allowed to switch between SOR and Board rate?
1. Do you foresee SOR-based interests changing over the next 3 years?
2. If loan package is already signed but building not started or completed is it possible to change package, for example from board-rate based % to SOR-based?
that means you are in 3rd yr lock in period and there's penalty.. u can still call them and ask. just a phone call away. maybe your quantum is huge enough to bargain?
After some "negotiation", managed to get some good discount off the penalty fees. Now on 1.18% fixed 1+1 yr. Compared with original 1.99%, still quite a fair bit of savings from interest for next 2 yr.
The latest news in the market is few banks have stopped giving home loan freebies! No more free legal subsidy, fire insurance!
HSBC has fired the first salvo. Before you read on, be cautioned that these are slightly complicated.
Their old rates will remain, however NO legal subsidy will be provided
Alternatively, add 0.05% to the spread for year 1 to 3 and you will get legal subsidy. However, the purchase price will be less the legal subsidy, and the loan amount will be based on this nett purchase price. So for example, if you are borrowing 80% LTV of a $1 million apartment, you should be entitled to $2,500 legal subsidy. So the loan amount will be 80% of $797,500 ($800,000-$2,500). So your loan amount will be reduced by $2,000 compared to previous approach. This is to reflect the true price, as per 'MAS guideline' according to our understanding.
So how should you consider? If you have some CPF, lock in the lower rates and use your CPF to pay for the full legal fees without subsidy.
It's also expected that other banks will follow suit, in one way or another.
UOB will be subtracting the freebies from the purchase price and then applying the LTV on this nett purchase price. Freebies include legal subsidy, fire insurance and valuation.
Source: http://www.findahomeloan.sg/resource-centre/item/132-latest-changes-to-home-loans
Dear all,
We have an existing mortgage loan with DBS which we just did a refinance in mid July this year. The package was was 3M Sibor+0.75% for the first 3 years and 3M Sibor + 1% there after.
Today, when I contacted DBS for an IPA, I was told that the package is no longer available and the new package is:
Year 1 1M SIBOR + 0.75%
Year 2 1M SIBOR + 0.75%
Year 3 1M SIBOR + 0.75%
Year 4 1M SIBOR + 1%
Thereafter 1M SIBOR + 1.25%
Does any body know of banks offering better rates than this? Thank you!
Dear all,
We have an existing mortgage loan with DBS which we just did a refinance in mid July this year. The package was was 3M Sibor+0.75% for the first 3 years and 3M Sibor + 1% there after.
Today, when I contacted DBS for an IPA, I was told that the package is no longer available and the new package is:
Year 1 1M SIBOR + 0.75%
Year 2 1M SIBOR + 0.75%
Year 3 1M SIBOR + 0.75%
Year 4 1M SIBOR + 1%
Thereafter 1M SIBOR + 1.25%
Does any body know of banks offering better rates than this? Thank you!
Are you a Treasure customer with DBS?
Are you a Treasure customer with DBS?
NO. We used to be Treasures back in 2008 when we took up our first loan with DBS. However, despite the 'Treasures' status, DSB gave a standard rate which the non Treasures customers also enjoy : (
Dear all,
We have an existing mortgage loan with DBS which we just did a refinance in mid July this year. The package was was 3M Sibor+0.75% for the first 3 years and 3M Sibor + 1% there after.
Today, when I contacted DBS for an IPA, I was told that the package is no longer available and the new package is:
Year 1 1M SIBOR + 0.75%
Year 2 1M SIBOR + 0.75%
Year 3 1M SIBOR + 0.75%
Year 4 1M SIBOR + 1%
Thereafter 1M SIBOR + 1.25%
Does any body know of banks offering better rates than this? Thank you!
Depends on loan quantum and completion status
NO. We used to be Treasures back in 2008 when we took up our first loan with DBS. However, despite the 'Treasures' status, DSB gave a standard rate which the non Treasures customers also enjoy : (
i see, the reason I asked this is because treasures customers should be able to get a better rate. Perhaps they withdraw the privilege
i see, the reason I asked this is because treasures customers should be able to get a better rate. Perhaps they withdraw the privilege
back in 2008, we told the DBS Home Assurance Business Manager we are Treasures customers and ask her to give us a better rate. She said she will try but end up still same rate as non Treasures
I had enough of DBS. Move on with other banks which are more flexible.
wow never knew they offer such rates. was ur loan quantum huge?
:ashamed1: loan quantum small, around 500k
Mine is 0.55 spread yr1, 0.65 spread thru out, currently at 0.93% :D :D
sounds like a rate for BUC
Dear all,
We have an existing mortgage loan with DBS which we just did a refinance in mid July this year. The package was was 3M Sibor+0.75% for the first 3 years and 3M Sibor + 1% there after.
Today, when I contacted DBS for an IPA, I was told that the package is no longer available and the new package is:
Year 1 1M SIBOR + 0.75%
Year 2 1M SIBOR + 0.75%
Year 3 1M SIBOR + 0.75%
Year 4 1M SIBOR + 1%
Thereafter 1M SIBOR + 1.25%
Does any body know of banks offering better rates than this? Thank you!
try hsbc. they have a very similar package. mine is 1M Sibor + 0.75% to infinity and beyond.
sounds like a rate for BUC
nope, i refinanced from another bank for a completed property.
SOR HAS GONE BELOW SIBOR:
SIBOR Rates – 20 Sep 2012 (http://www.siborratesingapore.com/sibor-rates-20-sep-2012)
SIBORSOR1 Month0.313750.237962 Month0.375000.320063 Month0.380000.368616 Month0.430000.608629 Month0.495830.7722312 Month0.569580.9255023122
wait for it to become 0.10
nope, i refinanced from another bank for a completed property.
can share what's the bank?
can share what's the bank?
is boc (bank of china)
is boc (bank of china)
Thanks Taggy
Is it true that ALL banks had removed legal subsidy? As of when & how about valuation + fire insurance?
Looking for a bank which offer 1M SIBOR...
TIA!
Layman analysis of the new MAS ruling. Read more here (http://www.findahomeloan.sg/component/k2/item/274-making-sense-of-the-new-ruling-on-residential-loan-tenure).
Is it true that ALL banks had removed legal subsidy? As of when & how about valuation + fire insurance?
Looking for a bank which offer 1M SIBOR...
TIA!
http://www.findahomeloan.sg/component/k2/item/237-breaking-news-no-more-legal-subsidy-and-freebies
You may PM me.
With the age limit is 65 . How is this enforced? I mean the lowest age of a couple is taken? Say husband is 45 wife is 30 means can take a loan up to 35 yrs?
Hi, may I know if anyone take up any mortgage loans recently after the new cm? Which bank is giving the best rates or package now?
Hi, may I know if anyone take up any mortgage loans recently after the new cm? Which bank is giving the best rates or package now?
HSBC still extending legal, valuation & fire insurance subsidies. But rates not so good IMO.
Yr 1-3 : 1M SIBOR + 0.80%
Yr 4 & Therafter: 1M SIBOR + 1.25%
Dunno if the subsidies will negate the slightly higher spread....?
HSBC still extending legal, valuation & fire insurance subsidies. But rates not so good IMO.
Yr 1-3 : 1M SIBOR + 0.80%
Yr 4 & Therafter: 1M SIBOR + 1.25%
Dunno if the subsidies will negate the slightly higher spread....?
no more after today
HSBC still extending legal, valuation & fire insurance subsidies. But rates not so good IMO.
Yr 1-3 : 1M SIBOR + 0.80%
Yr 4 & Therafter: 1M SIBOR + 1.25%
Dunno if the subsidies will negate the slightly higher spread....?
Thanks coolchoc
So far what I have gathered is ocbc and DBS could still give 0.75 + sibor, but uob already increased to 0.85 + sibor. Thereafter is 1.25 spread for all
Thanks coolchoc
So far what I have gathered is ocbc and DBS could still give 0.75 + sibor, but uob already increased to 0.85 + sibor. Thereafter is 1.25 spread for all
DBS & OCBC still extend legal subsidy?
Citi also 0.75% 1st 3yrs & 1% thereafter, but 2yrs lock-in.
Nobody on SOR?
I have one on +0.8 not sure whether to reprice...
Mortgage package is really not so good these days. HSBC have 0.6 spread throughout tenure just 1.5 years ago. A short period was even as low as 0.5 spread throughout tenure.
HSBC still extending legal, valuation & fire insurance subsidies. But rates not so good IMO.
Yr 1-3 : 1M SIBOR + 0.80%
Yr 4 & Therafter: 1M SIBOR + 1.25%
Dunno if the subsidies will negate the slightly higher spread....?
Why reprise now? 3 mth SOR is about 0.34.
Nobody on SOR?
I have one on +0.8 not sure whether to reprice...
Why reprise now? 3 mth SOR is about 0.34.
because it will turn to +1.0 soon
because it will turn to +1.0 soon
Sorry, may I know the basis for the expectation please? Thank you.:doh:
Sorry, may I know the basis for the expectation please? Thank you.:doh:
aiyo the spread is for my case only not saying for all. my spread is as per LO agreement crossing into next year what ...
3mth SOR has dropped to 0.32 today.
3mth SOR has dropped to 0.32 today.
happy camper
3mth SOR has dropped to 0.32 today.
wow so low... i m still in 3mth sibor
my loan allow me to switch to 3mth sor for 1 time free, am i a idiot for not doing it still ? :confused:
Do your own assessment?
wow so low... i m still in 3mth sibor
my loan allow me to switch to 3mth sor for 1 time free, am i a idiot for not doing it still ? :confused:
Hi DC, just received notifications from my bank, interest up to 1.48% from 1.28%. Shd I refinance? How come taggy bank drop rate while mine has gone up?
What kind of mortagage loan package is yours? Pass lock-in period? Are you affected by the reduction of tenure if refinance with another bank? Average flexible loan package should be between 0.9 to 1.1%.
Hi DC, just received notifications from my bank, interest up to 1.48% from 1.28%. Shd I refinance? How come taggy bank drop rate while mine has gone up?
DBS & OCBC still extend legal subsidy?
Citi also 0.75% 1st 3yrs & 1% thereafter, but 2yrs lock-in.
Yes, both still extend legal subsidies for me but not UOB. Anyway I don't need the legal subsidies so bankers are trying to help me fight for even lower rates, but no guarantee and quite unlikely
U know, 1% or even 1.25% spread is considered very low already.
Long time ago before benchmark rate based loan was widely available, the so called board rate packages easily had a 1.5 to 2% effectve spread.
ANZ is providing subsidies nett off from the purchase price until 23 October 12pm. All applications and documents must be submitted by that time. They are still providing subsidies for Refinancing. Find out more on the latest changes to mortgage subsidies. (http://www.findahomeloan.sg/component/k2/item/237-breaking-news-no-more-legal-subsidy-and-freebies)
With sibor & sor both downtrending and touching lows, heard banks are talking abt moving the home loans spreads up.
Anyone heard anything??
The spreads have already been going up... but there are always a few banks with more competitive rates. So keep a keen eye
Have closed the 2012 changes article at http://www.findahomeloan.sg/component/k2/item/132-latest-changes-to-home-loans-2012
Started a new one for 2013
http://www.findahomeloan.sg/component/k2/item/353-latest-changes-to-home-loans-2013
Have closed the 2012 changes article at http://www.findahomeloan.sg/component/k2/item/132-latest-changes-to-home-loans-2012
Started a new one for 2013
http://www.findahomeloan.sg/component/k2/item/353-latest-changes-to-home-loans-2013
Newbie11, thanks.
Btw, your tagline no1 claim, is according to which SME?
are u recommending us for an award? :cheers3:
What is the best floating rate for BUC?
are u recommending us for an award? :cheers3:
Ok, thx for the answer. :)
What is the best floating rate for BUC?
Depend on quantum and hdb/pte. You may visit the site to compare
seems like interest rate is slowly creeping up? few mths back can see a lot of 0.75+sibor but now a lot is 0.85+sibor??
East Lover
03-01-13, 21:37
seems like interest rate is slowly creeping up? few mths back can see a lot of 0.75+sibor but now a lot is 0.85+sibor??
Last time only 0.65, now most bank is 0.95+ sibor.
And some bank, say bank of china, will not loan to shoebox unit, e.g, must bigger than 500 Sqft!
MM king, u got problem for ur MM unit loan or not? :scared-4:
Last time only 0.65, now most bank is 0.95+ sibor.
And some bank, say bank of china, will not loan to shoebox unit, e.g, must bigger than 500 Sqft!
MM king, u got problem for ur MM unit loan or not? :scared-4:
never got problem, i am regular customer with repeat business for major banks lol
never got problem, i am regular customer with repeat business for major banks lol
I thought you will say show hand sia...:D :D :D !
It is not the first year spread (0.95%) that is scary but the thereafter rate that is scary 1.25% or even 1.5% + sibor. Fortunately refinance before all the revision and worst of all is the new rule on tenure. :doh:
Last time only 0.65, now most bank is 0.95+ sibor.
And some bank, say bank of china, will not loan to shoebox unit, e.g, must bigger than 500 Sqft!
MM king, u got problem for ur MM unit loan or not? :scared-4:
That's why I advise clients to look at thereafter rates. Don't bet on refinance in future to give u lower rates. It may not happen
The greatest challenge is still the rise of interest rates. Especially so in a downward pressure for rental yield.
Get ready for some panic selling if landlords can't hold too long.:cool:
I thought you will say show hand sia...:D :D :D !
show simi hand? u mean show back side?
only package with reducing spread
http://www.findahomeloan.sg/package-details?fahlpid=155
Package Rates
Year 1 3M SIBOR +1.08% = 1.45667%
Year 2 3M SIBOR +1.08% = 1.45667%
Year 3 3M SIBOR +0.98% = 1.35667%
Year 4 3M SIBOR +0.88% = 1.25667%
Year 5 3M SIBOR +0.78% = 1.15667%
Nobody on SOR?
I have one on +0.8 not sure whether to reprice...
I'm on 0.75% + SOR for 4 years, 1% + SOR thereafter.
Clinging on on SOR for as long as it makes financial sense :D
That's why I advise clients to look at thereafter rates. Don't bet on refinance in future to give u lower rates. It may not happen
this is what i am very scare of..
:scared-3:
Bank of China is next to up the spreads for residential housing loans with effect on 28 Jan. The good news is they will be introducing commercial property loans for individual purchase.
OCBC is increasing rates after end Jan. Their Board Rates packages starts from 1.18%.
Bank of China is next to up the spreads for residential housing loans with effect on 28 Jan. The good news is they will be introducing commercial property loans for individual purchase.
For $200,000 loan and above, they are offering 3M SIBOR plus 0.85% for year 1-3 and increased the spread to 1.25% from year 4 onwards. They also offer free switching to 3M SOR. Read more (http://www.findahomeloan.sg/resource-centre/item/353-latest-changes-to-home-loans-2013)
SBI up the spread for Sibor packages this week
SBI up the spread for Sibor packages this week
The banks are capitalizing on difficulty of borrowers in refinancing with different banks?
Increasing has been the trend since last year. Profit margin is not high. With reduced volume and quantum, how do you maintain revenue and profits? Anw sbi is new entrant so I see it as teaser rates to gain mkt share.
U just need some time for banks to offer high Repricing fees and lousy Repricing rates.. Then ppl will consider refin more.
http://sg.finance.yahoo.com/news/singapore-may-scrap-u-dollar-075325412.html
Source: REUTERS
SINGAPORE, Feb 18 (Reuters) - Singapore's central bank is expected to scrap its U.S. dollar-linked interbank lending rate, according to a banker with knowledge of regulators' reviews into the setting of interest rates following the Libor rate rigging scandal.
The Monetary Authority of Singapore ordered members of the Association of Banks in Singapore in July to review how they set their benchmark interbank lending rates, focusing on the Singapore interbank offer rate (Sibor) and the Swap Offer Rate (SOR).
The order came after U.S. and UK authorities uncovered widespread manipulation of the London interbank lending rate (Libor).
The banker said, in a text message exchange with Reuters, that as a result of those reviews the abolition of the U.S. dollar Sibor was "likely".
The MAS provided no new comment on the matter when contacted by Reuters. In December, the regulator said the reviews were ongoing and it was premature to speculate on their outcomes.
U.S. dollar Sibor is a measure of the cost of borrowing U.S. dollars in the Singapore interbank market, and is used to price loans made by Singapore banks in U.S. dollars. Banks can use alternatives, like the U.S. dollar Libor rate.
The more significant market in Singapore is the Singapore dollar Sibor, which is used as the reference price for many commercial and home loans in the city-state.
The MAS probe was extended in late September when the regulator said banks must also look at how rates for non-deliverable foreign exchange forwards are set.
Reuters reported last month that bank reviews found that NDF rates had been manipulated as well.
Singapore's probe was similar to those launched by other regulators across the globe following last year's Libor scandal, when U.S. and UK authorities unveiled widespread rigging of the London interbank rate, a benchmark used to price more than $500 trillion worth of contracts from derivatives to mortgage rates to credit cards.
U.S. and UK regulators have fined three banks to date - RBS, Barclays and UBS - a total of $2.6 billion for allowing traders to manipulate Libor interbank rates.
Bloomberg reported earlier on Monday that Singapore's central bank was considering ending the city-state's U.S. dollar-linked interbank lending rate. Citing an anonymous source, the report said members of the Singapore Foreign Exchange Market Committee in a Jan. 22 meeting examined the proposal during a discussion of MAS's review of benchmark rates.
The group may instead use the U.S. dollar London interbank offered rate, the article said, with changes expected by June.
Thomson Reuters, parent company of Reuters News, acts as the agent for the Association of Banks in Singapore, collecting and calculating the rates. (Reporting by Rachel Armstrong; Additional reporting by Elzio Barreto and Kevin Lim; Editing by Michael Flaherty and Simon Cameron-Moore)
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wonder what will become of those of us with loans on the SIBOR :banghead:
Instead of getting to the bottom of it, we make quick exit to avoid the consequences of those who manipulate the rates.:doh:
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