Grouploan for better deal

[gavan]

I am one of the Citibank customer that is affected.
"http://business.asiaone.com/news/borrowers-upset-over-hike-margin-sibor-loans"

I want to go for collective loan with other bank
I created facebook group "Singapore home grouploan"
https://www.facebook.com/groups/668115326654609/

Welcome all person to join me and any interested borrower to join. Hope grouploan work as well as groupbuy.
Cheers!!!

[hopeful]

when is your next sibor fixing date?
when is the last day that you need to inform citibank that you are switching banks without incurring penalties?
what is the minimum number of people before a bank will entertain us?
what is the minimum (total) loan quantum before a bank will entertain us?
TIA

different people have different fixing dates, different last day, so i am curious how this grouploan works.

[gavan]

My idea is as long as grouploan from same bank and see how the total loan quantum can grow to gain their acknowledgement.
Its up to the buyer to decide based on their current loan situation.

Utimately, never try never know !!

No point urguing so much here.. ACTION !!

I will set group to private to protect privacy but for now... I need more publicity!!!

[MortgageGuru]

Don't bother, as a brokerage company who give millions of loans each month to many bank, they don't even have as strong a negotiation like what you want here.
No one is indispensable.

[gavan]

Cos u give loans to many bank mah... consolidated to one bank lah..

Bank dun nego.. Can I nego with u or any brokerage company? :-P

"Singapore home grouploan" https://www.facebook.com/groups/668115326654609/

[Arcachon]

Think out of the Box, I like.

[gavan]

Think out of the Box, I like.

Support lah... just click "share" my group...

[Arcachon]

where got share

[gavan]

u got facebook account?
Go to my group or any post in my group. click share lor
https://www.facebook.com/groups/668115326654609/

[MortgageGuru]

Cos u give loans to many bank mah... consolidated to one bank lah..

Bank dun nego.. Can I nego with u or any brokerage company? :-P

"Singapore home grouploan" https://www.facebook.com/groups/668115326654609/

Honestly, even if you manage to nego, in this situation in this market, even if there's 0.5% + SIBOR throughout i wouldn't take it either.

[Arcachon]

You never try, you never know.

[BigBoy]

Honestly, even if you manage to nego, in this situation in this market, even if there's 0.5% + SIBOR throughout i wouldn't take it either.

It does not necessary need to provide better rates.
Clarity and commitment to contract is another area to look for after this incident.
It also a way to punish Citibank and shows we do not necessary need to stick with them, even if their revised rate is the lowest.

[teddybear]

Beware!
Even if Citibank's revised rate is the lowest now, don't forget you won't get a good deal because Citibank can UNILATERALLY revise higher and higher any time they want, and hike to any figure they want!

Don't forget the sayings:
"Cheat me once, shame on you; Cheat me twice, shame on me!"

Don't focus on the tree and miss the forest! :boxing:


It does not necessary need to provide better rates.
Clarity and commitment to contract is another area to look for after this incident.
It also a way to punish Citibank and shows we do not necessary need to stick with them, even if their revised rate is the lowest.

[gavan]

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