View Full Version : DBS housing vs UOB housing loan
DBS housing loan interest rate after locked in period 1.25%+FHR vs UOB board rate 2.65%...do u all think which one is better?? :)
propertychap
19-05-14, 00:05
should take dbs 5 years fixed interest rate at 1.88%?
For UOB loan, if you are not taking a fixed interest rate, better check with them carefully, is the agreed interest rate (for the 1st to 3rd yrs) starts from disbursement amount or from the date of the agreement. If yours is an UC ppty, and the interest starts from the agreement date, then you might be at an disadvantage because normally, 1st year int rate is lower then it gets higher and higher, so by the time when your ppty TOP, your interest rate for the disbursement amount might based on their 4th or 5th rate.
To me, I will NEVER ever ever take any floating rate loan that is not pegged to SIBOR or SOR................... :beats-me-man:
People still never learn their lesson??? :o
DBS housing loan interest rate after locked in period 1.25%+FHR vs UOB board rate 2.65%...do u all think which one is better?? :)
To me, I will NEVER ever ever take any floating rate loan that is not pegged to SIBOR or SOR................... :beats-me-man:
People still never learn their lesson??? :o
what lesson?
For UOB loan, if you are not taking a fixed interest rate, better check with them carefully, is the agreed interest rate (for the 1st to 3rd yrs) starts from disbursement amount or from the date of the agreement. If yours is an UC ppty, and the interest starts from the agreement date, then you might be at an disadvantage because normally, 1st year int rate is lower then it gets higher and higher, so by the time when your ppty TOP, your interest rate for the disbursement amount might based on their 4th or 5th rate.
it is fixed at the first two years, it is constructed unit also..
it is fixed at the first two years, it is constructed unit also..
How about 3rd year, is the rate higher? I know of someone who got a loan from the UOB for his commercial ppty. 1st 2 years, the rate is lower but after the 3rd year, the rate goes up. And the funny part is, the interest rate starts from the date you sign the agreement and not on the disbursement date. For eg if you sign your agreement this Year 2014 but your loan disbursement only starts on the 3rd year, then you will have missed out the 1st 2 years interest rate because your interest for your 1st disbursement is based on the 3rd year interest rate which is higher. That means that you will not be able to take advantage of the 1st and 2nd year good interest rate. But maybe commercial and pte ppty is different, so is better to clarify with the bank before signing.
kelvinyongchoonhei
20-05-14, 12:57
good day to all,
i m in the midst of re pricing for my property. Some of the rules are pretty new to me. other than the TDSR, 70% scaling down for rental/bonues and 60 percent max loan for second property, it is shocking to know that the rental for the second property (in this case the property which is undergoing repricing) cannot be considered at all.
hope it helps.
kelvin
How about 3rd year, is the rate higher? I know of someone who got a loan from the UOB for his commercial ppty. 1st 2 years, the rate is lower but after the 3rd year, the rate goes up. And the funny part is, the interest rate starts from the date you sign the agreement and not on the disbursement date. For eg if you sign your agreement this Year 2014 but your loan disbursement only starts on the 3rd year, then you will have missed out the 1st 2 years interest rate because your interest for your 1st disbursement is based on the 3rd year interest rate which is higher. That means that you will not be able to take advantage of the 1st and 2nd year good interest rate. But maybe commercial and pte ppty is different, so is better to clarify with the bank before signing.
hmm... i have a uob loan (floating, pegged to sibor) for a uc residential unit, my clause: Interest Rate Commencement Date - 1st year commencing from date of first disbursement
hmm... i have a uob loan (floating, pegged to sibor) for a uc residential unit, my clause: Interest Rate Commencement Date - 1st year commencing from date of first disbursement
Actually, by right should base on disbursement date, don't know why my friend one based on agreement date? He wanted to refinance but cannot because have to wait till full disbursement, is that so? In the end, he did a re-pricing but have to pay $1,200 for the necessary documents.
Actually, by right should base on disbursement date, don't know why my friend one based on agreement date? He wanted to refinance but cannot because have to wait till full disbursement, is that so? In the end, he did a re-pricing but have to pay $1,200 for the necessary documents.
bec before full disbursement, if your friend want to fully redeem, the bank will consider it as cancellation. There is a clause of cancellation fee: a cancellation fee of 0.75% flat on the amount cancelled or left undrawn, shall be payable. So, it may become not worth to refinance to another bank before full disbursement.
As for re-pricing have to pay $1,200... i think this depend on how your friend bargain with the bank, i am sure some of the bigger customers will got this waive upon request :D
i ever did repricing with dbs for a hdb loan, i paid $500 as fee. Since saving on interest is more worth it, i just went for it :D
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